PUC Pancontinental Resources Corporation

Pancontinental Uranium Corporation (the "Company") (TSX VENTURE:PUC) is pleased
to announce that its Joint Venture partner, Crossland Uranium Mines Limited
("Crossland"), issued a press release today in Australia.


The Crossland press release can be viewed using the following link: 

http://www.asx.com.au/asxpdf/20120515/pdf/42689mc8s047pr.pdf 

The Resource estimate is not independent and therefore is non 43-101 compliant. 

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, 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 and
Crossland hold an impressive uranium and REE 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. Charley Creek has
the potential for large alluvial REE deposits, and large, lower-grade,
Rossing-type, granite-hosted uranium deposits. The Kalabity project lies in a
district of historic uranium/radium mining that contains a variety of known
uranium deposit styles.


Pancon earned an initial 50% interest in this significant uranium and REE
project portfolio with Crossland through the expenditure of AUD$8 million. In
September 2011, due to prevailing poor financial market conditions, Pancon
elected to conserve its cash and avoid having to raise additional funds at
depressed share prices. As a result, Pancon ceased funding its 50% share of the
Joint Venture expenditures until the end of 2011. Pancon expects its interest
will be reduced by approximately 5%. According to the Joint Venture agreement,
Pancon has the right to resume funding at any time to maintain its interest.
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 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.

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