NOT FOR DISSEMINATION INTO THE USA

Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon" or the "Company")
is pleased to announce that its Board of Directors has approved the final
payment to earn the Company a 50% interest in the Australian uranium properties
held by Crossland Uranium Mines Limited ("Crossland"): the Chilling project, the
Charley Creek and related projects, and the Kalabity project. A final transfer
of funds this week will complete the AU $8 million of expenditures required to
earn the Company's 50% interest.


President and CEO Rick Mark states: "We are pleased to inform our shareholders
that we are about to achieve this ownership milestone. Funds are being
transferred to Australia today and closing is expected Thursday. Our Australian
properties are tremendously prospective to host economic orebodies and all have
been advanced significantly during our earn-in period over the past three years.
We look forward to working with Crossland as full 50/50 partners in Australia."


In addition, the Company is arranging a non-brokered private placement of up to
5,000,000 units at a price of $0.125 per unit for gross proceeds of up to
$625,000 Cdn. 


Each unit will be comprised of one common share in the capital of the Company
and one share purchase warrant (a "Warrant"). Each Warrant is exercisable to
purchase one additional common share over a two-year period at a price of $0.25
per share, provided that, if at any time, which is more than four months and one
day following the Closing Date, the volume weighted average trading price of the
common shares of the Company, as traded on the Exchange, meets or exceeds $0.40
for 20 consecutive trading days, the Company shall have the right to accelerate
the expiry date of the Warrants to a date which is 30 days following the date of
such notice. 


The funds raised will fund exploration work and general working capital. The
financing remains subject to acceptance by the TSX Venture Exchange. 


The Company also wishes to announce that it has granted incentive stock options
to certain directors, officers, employees, consultants and advisors of the
Company to purchase 300,000 common shares in the capital of the Company pursuant
to the Company's stock option plan. The options are exercisable, on or before
August 30, 2015, at an exercise price of $0.20 per share.


About Pancontinental Uranium Corporation

Pancontinental Uranium Corporation ("Pancon") is a Canadian-based company
focused on uranium discovery and development. Through a joint venture with
Crossland Uranium Mines Limited ("Crossland") of Australia, Pancon has
established one of the strongest management teams in the uranium industry. 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 holds
an impressive exploration portfolio with projects in prolific, mining friendly
districts. Active exploration is ongoing at three Australian projects which
include Chilling, Charley Creek, and Kalabity. 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.
Pancon is earning a 50% interest in this significant uranium project portfolio
through the joint venture with Crossland through the expenditure of A$8 million.
Pancon and Crossland are also pursuing exploration beyond Australia through an
international subsidiary company, Crosscontinental Uranium Limited, and
immediate plans include formulating an exploration program in Burkina Faso. 


ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark, President & CEO

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.
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