SOURCE: Pan African Mining Corp.

July 19, 2007 03:01 ET

Pan African Mining Corp. Commences Formal Core Drilling Program for Uranium at Tranomaro in Madagascar

VANCOUVER, BC--(Marketwire - July 19, 2007) - PAN AFRICAN MINING CORP. (TSX-V: PAF) (FRANKFURT: P2A) (the "Company") is pleased to announce that core drilling to depth on its Tranomaro Uranium property in the South of Madagascar has now commenced. A heavy Atlas-Copco CS-14 diamond drill rig is now fully operational on site and drilling of the first hole is underway. The Tranomaro Project comprises 206 squares, encompassing approximately 1287 sq. km. The Company has previously identified in excess of 100 open pits in the region which had been the site of historic mining by the French C.E.A. A shallow scout drilling program is being utilized together with sampling and radiometric analysis to develop targets for the current core drilling program. Renewed geological evaluation by the Company's uranium team headed by Dr. Reinhard Ramdohr is continuing throughout the region.

The initial target for the core drilling program is old French Mine Number 37, which through the early 1960s was reported to have yielded substantial Uranium metal. Uranothorianite from the mine was washed and concentrated on site for shipment to France. A number of drill sites in and around Mine 37 have been selected in order to investigate down-dip extensions of the outcropping ore. In a prior Press Release dated June 6, 2007, the Company reported excellent results of drill hole TR/M37D/B5-50E on the NW flanks of the mine, achieved through shallow drilling utilizing one of the Company's lightweight scout core drills. Those results, with an average of 4,329 gr U/t obtained from 0.3 m to 17.5 m depth, are now being followed up by deep drilling utilizing the heavy rig. Numerous surface samples in addition to radiometric values indicate substantial amounts of mineralized pyroxenite formation potentially bearing uranothorianite deposits. To date, the instant strata have been traced over more than 280 m NS. Drilling is designed to confirm our assumption of a substantial down-dip extension of the U-bearing mineralization with potential to host an economic deposit amenable to open pit operation. Initial targets are approximately 20 m below the old mine floor from French operations.

This drilling operation follows our geological field work in a highly promising area of 3 km x 8 km near Tranomaro. Meanwhile, regional exploration activity has expanded and more Uranothorianite prospects N of Tranomaro are under scrutiny. At old French Mine Number 52 to the North, the Company presently has two shallow scout core drills in use developing deep drill targets.

The drilling program now underway at Tranomaro is being carried out by the Company on behalf of its Joint Venture with L'Office des Mines Nationales et des Industries Strategiques ("OMNIS"), a Malagasy State Agency. The Atlas Copco CS-14 being utilized in the current drill program is being furnished to the JV by OMNIS under a lease agreement. It is similar to the Company's own Atlas Copco CS-14 which has been operating at the Mountain of Gold Project in Madagascar's Dabolava region.

According to Irwin Olian, CEO of the Company, "We are very excited to be moving forward with our core drilling to depth at Tranomaro at this time. The presence of Uranium mineralization is well established in the region and we are anxious to evaluate the potential of the many deposits identified by our team."

About Pan African Mining Corp.

The Company is an exploratory resource company with approximately 7,500 sq. km. of diversified mineral properties and 5,000 sq. km. of uranium properties in Madagascar. The Company is exploring these properties for uranium, gold, coal, precious stones, base metals and industrial commodities. In addition, the Company is exploring two large regions for gold and metals in Mozambique under agreements with other companies. It also has approximately 5500 sq. km. of diamond licenses in Botswana which it is presently exploring. Its operations in Madagascar are carried out through its operating subsidiary, PAM Madagascar Sarl, and its uranium activities are carried out through its 80% owned subsidiary PAM Atomique Sarl. The Company has offices in Vancouver, Canada and Antananarivo, Madagascar. More information about the Company is available at www.panafrican.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF PAN AFRICAN MINING CORP.

"Irwin Olian"
Irwin Olian
Chairman & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.

Contact Information

  • For more information, contact:

    Irwin Olian
    President and CEO
    E-mail: Email Contact
    Phone: (604) 899-0100
    Fax: (604) 899-0200

    Tom Kinakin
    Corporate Communications - Vancouver
    Email: Email Contact
    Phone: (604) 899-0100
    Fax: (604) 899-0200

    Carrie Howes
    Corporate Communications - London
    Email: Email Contact
    Phone: 7780-602-788