Pancon Announces Extension of Non-Brokered Private Placement
301 – 260 W. Esplanade North Vancouver, BC V7M 3G7
Tel: 604-986-2020 Fax: 604-986-2021 Toll Free: 1-866-816-0118 www.panconu.com
PANCON ANNOUNCES EXTENSION OF NON-BROKERED PRIVATE PLACEMENT
NOT FOR DISSEMINATION INTO THE USA
Vancouver, B.C., November 2, 2012. Pancontinental Uranium Corporation (TSX-V: PUC) (“Pancon” or the “Company”) announces that, further to its press releases dated September 26, 2012 and October 30, 2012, it has extended its previously announced non-brokered private placement for 30 days from today’s date.
About Pancontinental Uranium Corporation
Pancontinental Uranium Corporation (“Pancon”) is a Canadian-based company focused on uranium and REE discovery and development. Through a joint venture with Crossland Uranium Mines Limited (“Crossland”) of Australia, this 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.
Exploration is ongoing or has occurred at three Australian projects which include 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.
Pancon has a 45% participating interest in this significant REE and uranium project portfolio. Pancon and Crossland are also pursuing exploration beyond Australia through an international subsidiary company, Crosscontinental Uranium Limited, and plans include formulating an exploration program in Burkina Faso.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark President & CEO
For further information, please contact:
Rick Mark President and CEO
604-986-2020 or 1-866-816-0118
For additional information, please visit our website at www.PanconU.com.
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.
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.