Pan-Nevada Gold Corporation

Pan-Nevada Gold Corporation

October 12, 2006 14:52 ET

Pan-Nevada Gold Corporation: Shareholders Approve All Resolutions at 2006 AGM

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2006) - Pan-Nevada Gold Corporation (TSX VENTURE:PNV) announced today that the shareholders approved all of the resolutions brought before them at the Annual General Meeting of shareholders held on October 12, 2006.

The shareholders re-elected Harold Gershuny, Paul Roberts, William Sheriff, John Watson, and Wayne Yang to the Board.

The shareholders approved the appointment of Davidson and Company as auditors of the Company, authorized the Directors to fix the auditors' remuneration, and approved the stock option plan of the Company.

At a duly constituted director's meeting following the Annual General Meeting, Mr. Watson was appointed President of the Company and Mr. Wayne Yang was appointed the Company's lead director; Mr. Paul Roberts as chief financial officer.

Harold Gershuny, Bill Sheriff, and Wayne Yang as chair were appointed to the Company's audit committee and a Compensation Committee was struck with Gershuny, Roberts and Sheriff as members.

The Company granted 600,000 incentive stock options in the capital stock of the Company to officers and directors at a purchase price of C$0.30 per share for a period of two years expiring October 10, 2008.

Pan-Nevada's objective is to increase value for its shareholders by acquiring, exploring, and developing advanced-stage projects located within the major gold producing areas of Nevada. The company's total land position is in excess of 12,000 acres, comprised of five projects, including three on the Battle Mountain-Eureka Trend and one on the Carlin Trend.

On behalf of the Board of Directors,

John E. Watson, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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