Pancontinental Uranium Corporation
TSX VENTURE : PUC

Pancontinental Uranium Corporation

October 24, 2013 14:42 ET

Pancontinental Uranium Engages Behre Dolbear Australia to Prepare a NI 43-101 Report and Preliminary Economic Assessment for the Charley Creek Rare Earth Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 24, 2013) -

NOT FOR DISSEMINATION INTO THE USA

Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon" or the "Company") is pleased to announce that it has engaged Behre Dolbear Australia Pty Limited ("BDA") to carry out an independent technical review of the Charley Creek Rare Earth Project ("Charley Creek Project" or "the project") and prepare a NI 43-101 report and Preliminary Economic Assessment ("PEA") based on the JORC-compliant Charley Creek Scoping Study(1), released by the Company's joint venture partner and project operator, Crossland Strategic Metals Inc., in April 2013.

BDA specializes in independent technical due diligence, project valuations, advisory and review work for companies and financial institutions on mining and processing projects and has been involved in numerous mining-related studies, valuations, and Independent Engineer assignments in recent years. BDA's specialist consultants have many years of technical and operating experience and are respected experts in their field.

Pancon President and CEO, Rick Mark states: "This is a very positive step in the further development of our Charley Creek REE project. BDA is experienced and familiar with 43-101 level technical reviews and reporting requirements, and are well qualified to carry out the assignment."

The NI 43-101 report and PEA are scheduled to be completed and filed by November 23, 2013.

(1) This JORC-compliant Scoping Study is not supported by a National Instrument 43-101 compliant technical report and should not be relied on until it has been independently verified and supported by a technical report. (Please see the Company's press release of October 10, 2013 for further details).

About Pancontinental Uranium Corporation

Pancontinental Uranium Corporation ("Pancon") is a Canadian-based company focused on Rare earth elements (REE) and uranium discovery and development. Through a joint venture with Crossland Strategic Metals Limited ("Crossland") of Australia, the combined management and operating team has unparalleled experience from exploration, through development to operations, and includes people who were instrumental in the discovery of two of the largest uranium deposits in the world. Pancon and Crossland hold an impressive REE and uranium exploration portfolio with projects in prolific, mining friendly districts. Pancon has a 45% participating interest in the Australian project portfolio.

Exploration is ongoing or has occurred at three Australian projects, known as Charley Creek, Chilling, and Kalabity. Charley Creek has the potential for large alluvial REE deposits, and large, lower-grade, Rossing-type, granite-hosted uranium deposits. The Chilling project has the potential to host a mirror image of a portion of the renowned Alligator Rivers Uranium Field containing the large Jabiluka, Ranger and Koongarra deposits The Kalabity project is in a district of historic uranium/radium mining that contains a variety of known uranium deposit styles.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark, President & CEO

For additional information, please visit our website at www.PanconU.com.

Cautionary Language and Forward Looking Statements: This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pancontinental Uranium Corporation
    Rick Mark
    President and CEO
    604-986-2020 or 1-866-816-0118
    604-986-2021 (FAX)
    www.PanconU.com