SOURCE: Pan African Mining Corp.

September 04, 2007 03:01 ET

Pan African's Core Drilling Program for Uranium at Tranomaro Proceeding on Schedule; Additional Regional Targets Now Identified

VANCOUVER, BC--(Marketwire - September 4, 2007) - PAN AFRICAN MINING CORP. (TSX-V: PAF) (FRANKFURT: P2A) (the "Company") is pleased to announce that core drilling on its Tranomaro Uranium property in the South of Madagascar has been proceeding on schedule. 9 holes have now been completed to a depth of approximately 70-130 m. at old French Mine Number 37, the Company's initial target. Core samples have been forwarded to ALS Chemex in Vancouver for assay and results from the first few holes are anticipated shortly. The drill program commenced in mid-July and has benefited from the good weather conditions of the dry season and efficient mobilization of personnel and equipment.

The Tranomaro Project comprises 206 squares, encompassing approximately 1287 sq. km. The drill program now underway 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. A heavy Atlas Copco CS-14 diamond drill rig is being utilized for the drill program. It is being furnished to the JV by OMNIS under a lease agreement. 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. The program is being overseen by Dr. Reinhard Ramdohr, a Qualified Person within the meaning of N.I. 43-101.

Old French Mine No. 37 is the focus of the initial core drilling program. The prospective mineralized zone bearing pyroxenite strata has now been delineated over an area extending approximately 3 km. x 8 km. The 9 drill holes to date have been selected to investigate the mineralization at the flanks of the deposit as well as below the old mine floor.

Meanwhile, regional exploration activity has expanded and more Uranothorianite prospects N of Tranomaro have been identified through radiometric analysis, mapping and sampling. Additional targets for the core drilling program have now been identified at old French Mines No. 52 and 52N, where shallow scout drilling has been employed, as well as at the nearby old Mines 53, 54 and 55. Targets have also been identified at old Mines 49/50 and 26.

According to Irwin Olian, CEO of the Company, "We are delighted with progress to date on our drilling program at Tranomaro and look forward to receiving assay results shortly."

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
    Email: Email Contact
    Phone: London: +44 (0) 7780 602 788
    Phone: Germany: +49 (0) 1722 1234 47