SOURCE: Pan African Mining Corp.

January 09, 2007 11:30 ET

PAN AFRICAN MINING CORP. Reports Successful Conclusion to Madagascar's National Election; President Marc Ravalomanana Re-Elected

VANCOUVER, BC -- (MARKET WIRE) -- January 9, 2007 -- PAN AFRICAN MINING CORP. (TSX-V: PAF) (FRANKFURT: P2A) (the "Company") is pleased to report that Madagascar's national Presidential Election has come to a successful and peaceful conclusion. Incumbent President Marc Ravalomanana has now been declared the winner of the December 3, 2006 election by Madagascar's Haute Cour Constitutionnelle (HCC). A Member of the country's TIM (Tiako I Madagascar) political party, Mr. Ravalomanana was re-elected to a new 5-year term as President.

A total of 4,444,750 legal votes were cast in the election, representing a strong turnout of nearly 62% of Madagascar's registered voters. 14 Candidates were listed on the first ballot, with Mr. Ravalomanana receiving a clear mandate of 54.79% of the vote. The next highest candidate, Mr. Jean Lahihiriko, received only 11.65%. Mr. Ravalomanana is expected to be inaugurated in a ceremony to be held shortly.

According to Irwin Olian, CEO of the Company, "Madagascar's peaceful election is an important step forward and suggests a continuation of political stability in the country. President Ravalomanana's re-election will allow for a continuation of his progressive policies for economic growth and social development. His policies have created a very positive environment for foreign investment in Madagascar. Among sectors benefiting strongly from his programs is the mining sector, where we intend to further ramp up our exploration programs during 2007. Focus of our efforts will be our uranium joint venture with government agency OMNIS, development of our Mountain of Gold project at Dabolava, and development of the Sakoa coal project. Extensive drilling programs on each will be undertaken this year. In addition, we will continue with our broad grassroots exploration program to identify other viable mining projects in Madagascar."

About Pan African

The Company is an exploratory resource company with approximately 10,000 square kilometres of diversified mineral properties and 5,500 square kilometres of uranium properties in Madagascar. The Company is exploring these properties for gold, uranium, precious stones, base metals and industrial commodities. 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


"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