Pancon Receives Final Payment from Sale of Ontario Properties
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PANCON RECEIVES FINAL PAYMENT FROM SALE OF ONTARIO PROPERTIES
Toronto, Ontario – December 31, 2021: Pancontinental Resources Corporation (TSXV: PUC)
(“Pancon” or the “Company”) announces it has received the final payment in the amount of $200,000
from Voltage Metals Inc. (“Voltage”) pursuant to a purchase agreement (the “Agreement’) dated
June 20, 2020 as amended March 1, 2021, between the Company and Voltage, whereby the Company
granted Voltage an option (the “Option”) to acquire 100% of the Company’s four mineral projects, St.
Laurent, Montcalm, Nova and Gambler, located in Ontario, Canada (the “Property”). The Company
confims that the Option has been fully exercised and that Voltage nows owns 100% interest in the
Property.
In addition, the Company announces it has granted an aggregate of 3,730,000 options to purchase
common shares (the “Common Shares”) in the capital of the Company exercisable at a price of $0.20
per Common Share for a period of five (5) years to certain officers, directors, and consultants of the
Company. The Common Shares issuable upon exercise of the options are subject to a four month hold
period from the original date of grant.
About Pancon
Pancontinental Resources Corp. (TSXV: PUC) (OTCQB: PUCCF), or Pancon, is a Canadian junior
mining company exploring the rich, underexplored Carolina Slate Belt in the southeastern USA. In
January 2020, Pancon won the exclusive right to explore and purchase the former Brewer Gold Mine
property, with an option period throughOctober 2023. Between 1987-1995, Brewer produced 178,000
ounces of oxide gold from open pits that extended to 65-meter depths, where gold (Au) and copper (Cu)
sulphides were exposed but could not be processed by the oxide heap leach operation. Pancon's
100%-owned, 1,960-acre JeffersonGold Project nearly completely surrounds the 1,000-acre Brewer
property. The Brewer-Jefferson area of interest, in Chesterfield County, South Carolina, is 12
kilometers along trend from the producing Haile Gold Mine, which produced 101,600 ounces of gold in
the first half of 2021 (www.oceanagold.com). Brewer is a large, epithermal, high sulphidation gold-
copper system driven by a sub-volcanic intrusive, possibly connected to a large copper-gold porphyry
system at depth (Schmidt, R.G., 1978, The Potential for Porphyry Copper-Molybdenum Deposits in the
Eastern United States, U.S. Geological Survey).
For further information, please contact:
Layton Croft, President & CEO or Jeanny So, Manager, External Relations
T: +1.647.202.0994
For additional information please visit our new website at www.panconresources.com and our Twitter
feed: @PanconResources.
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.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized
by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events
217 Queen Street West, Suite 401
Toronto, Ontario
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or conditions “may” or “will” occur. Forward -looking information involves risks, uncertainties and other factors that could cause actual events,
results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual
results to differ materially from such forward -looking information include, but are not limited to, changes in the state of equity and debt markets,
fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral
exploration and develo pment industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the
Company’s profile at www.sedar.com. Forward -looking information in this news release is based on the opinions and assumptions of manageme nt
considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be recei ved as and when
expected. Although the Company believes that the assumptions and factors used in preparing the forward -looking information in this news release
are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise
any forward-looking information, other than as required by applicable securities laws.