SOURCE: Pan African Mining Corp.

June 18, 2008 03:01 ET

Pan African Mining Corp. Receives 43-101 Reports on Diamond Projects in Botswana

VANCOUVER, BC--(Marketwire - June 18, 2008) - PAN AFRICAN MINING CORP. (the "Company") (TSX-V: PAF) (FRANKFURT: P2A)announces that it has now received independent Technical Reports in accordance with N.I. 43-101 on its Okavango and Tsau diamond projects in Botswana. The reports were prepared by Dr. Peter A. Christopher, P.Eng., of Vancouver-based PAC Geological Consultants Inc. Both projects are 100% owned by PAM Botswana (Pty) Ltd., a 99.93% owned subsidiary of the Company, and are included among assets to be transferred to African Queen Mines Ltd., a newly formed subsidiary of the Company ("African Queen"), in accordance with the Plan of Arrangement among Asia Thai Mining Co., Ltd., 0819615 B.C. Ltd., the Company and African Queen. The Plan of Arrangement is pending approval by the securityholders of the Company at a special meeting scheduled to take place on June 25, 2008.

The Technical Reports cite the prospectivity of both the Okavango and Tsau projects for diamonds, noting the convergence of favourable geochemical and geophysics data from such projects. They include recommendations for work programs for the present dry season comprised of further sampling as well as drilling. The reports are available for review at www.sedar.com.

About Pan African

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.

About Asia Thai Mining Co., Ltd.

Asia Thai Mining Co., Ltd. ("ATM") is a holding company incorporated in Thailand. ATM, either directly or through affiliated companies has extensive experience in the development and operation of mining interests, in particular in respect of coal mining interests. Through its subsidiaries, it is involved in the exploration and development of several coal mines in Indonesia. The company projects its coal production capacity will reach approximately 4 million tons by 2009. ATM forms part of a group of affiliated mining companies, including Saraburi Coal Co., Ltd. ("SBCC"). SBCC has been mining coal and tin in Thailand and other Southeast Asian countries since 1998. In addition, SBCC has recently been awarded a 9-year, US$500 million coal mining contract in Thailand from Electricity Generating Authority of Thailand and SBCC will start work in 2008. ATM is a private company with its registered address and principal place of business at 2034/132-161 New Petchburi Road, Bangkapi, Huaykwang, Bangkok, Thailand.

ON BEHALF OF PAN AFRICAN MINING CORP.

"Irwin A. Olian"
Irwin A. Olian
CEO & Director

Forward-Looking Statements

Certain statements herein constitute forward-looking statements or forward-looking information within the meaning of applicable securities legislation, including the statements or information about the Transaction and proposed spin-off of African Queen. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

With respect to forward-looking statements and information contained herein, we have made numerous assumptions including among other things, assumptions of our ability to close the Transaction and spin-off African Queen. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such risks and uncertainties include risks and uncertainties involved in satisfying the conditions to close the Transaction and spin-off African Queen.

There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements or information. All forward-looking statements and information made herein, are qualified by this cautionary statement.

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.

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
    London: 7780-602-788
    Germany: (0) 1722-1234-47

    Pan African Mining Corp.
    Suite 1925, Box 11553
    650 West Georgia Street
    Vancouver, BC
    V6B 4N8