Pan-Nevada Gold Corporation

Pan-Nevada Gold Corporation

June 08, 2006 12:00 ET

Pan-Nevada Gold Retains Senior Investor Relations Firm; Ascenta to Provide First Ever Concerted IR Program

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 8, 2006) - Pan-Nevada Gold Corporation (TSX VENTURE:PNV) is pleased to announce it has retained Ascenta Capital Partners Inc. of Vancouver, BC, to provide investor relations and financial communications services.

Ascenta will receive a monthly retainer of $5,500 for a 12-month term subject to termination by either party with 30 days written notice. Pan-Nevada will also issue as compensation to Ascenta an option to purchase 200,000 common shares immediately at an exercise price of $0.68 per share which will be effective for a period ending 30 days after the termination of the contract. The options granted will vest in accordance with TSX Venture Exchange guidelines and Pan-Nevada's stock option plan. This agreement is subject to regulatory approval.

"As Pan-Nevada moves forward, adding resource ounces to its inventory, it has become apparent that we need an aggressive, well-regarded firm to take the Company's story to the marketplace and we look forward to working with Ascenta Capital," said John Watson, Pan-Nevada's President and CEO. "Their expertise will ensure more investors are introduced to the company and that the growth in our shareholder base matches the constant growth in out mineral resources."

About Ascenta Capital Partners Inc.

Ascenta is a leading provider of investor relations services to public companies in Canada. Ascenta's strength is its disciplined approach to the development and execution of strategic, customized investor relations programs and services.

On behalf of the Board of Directors,

John E. Watson, President

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

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