Panda Capital Inc. Announces Receipt of Conditional Listing Approval

Panda Capital Inc. (TSX VENTURE:PDA.H) (the "Corporation")is pleased to announce
that the TSX Venture Exchange (the "TSX-V") has accepted for filing its
information circular (the "Circular") and has provided conditional approval of
the Corporation's Qualifying Transaction (as such term is defined in policy 2.4
of the TSX-V) with Continental Mining and Smelting Limited ("Continental"). 


The Corporation is proposing to acquire all of the issued and outstanding common
shares of Continental by way of a "three-cornered" amalgamation in which a
wholly-owned subsidiary of the Corporation will amalgamate with Continental to
form an entity (the "Resulting Issuer") that will continue as Continental Mining
and Smelting Ltd. or such other name as Continental shall determine.


In connection with the Qualifying Transaction, the Corporation is proposing to
consolidate its outstanding share capital on the basis of one new common share
for each two existing common shares of the Corporation. There are currently
3,300,000 common shares of the Corporation issued and outstanding. 


An annual and special meeting of the shareholders of the Corporation has been
called and will be held on Wednesday, September 21, 2011. Proxy materials,
including the Circular describing details of the Qualifying Transaction, will be
mailed to the shareholders of record of the Corporation and has been filed on
www.sedar.com.


It is anticipated that upon completion of the Proposed Transaction, the
Resulting Issuer will meet the Tier 1 listing requirements of the TSX-V for a
mining issuer.


Closing of the Qualifying Transaction is expected to occur on or about September
30, 2011. The closing of the Qualifying Transaction remains subject to final
approval from the TSX-V.


This press release contains certain forward-looking statements about the
Corporation's future plans and intentions. Wherever possible, words such as
"may", "will", "should", "could", "expect", "plan", "intend", "anticipate",
"believe", "estimate", "predict" or "potential" or the negative or other
variations of these words, or similar words or phrases, have been used to
identify these forward-looking statements. These statements reflect Management's
current beliefs and are based on information currently available to management
as at the date hereof. Forward-looking statements included or incorporated by
reference in this press release include statements with respect to closing of
the Qualifying Transaction. 


Forward-looking statements involve significant risk, uncertainties and
assumptions. Many factors could cause actual results, performance or
achievements to differ materially from the results discussed or implied in the
forward-looking statements. These factors should be considered carefully and
readers should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this press release are
based upon what management believes to be reasonable assumptions, the
Corporation cannot assure readers that actual results will be consistent with
these forward-looking statements. These forward-looking statements are made as
of the date of this press release, and the Corporation assumes no obligation to
update or revise them to reflect new events or circumstances, except as required
by law.


Completion of the Qualifying Transaction is subject to a number of conditions,
including but not limited to, TSX-V acceptance and if applicable pursuant to
Exchange Requirements, majority of the minority shareholder approval. Where
applicable, the transaction cannot close until the required shareholder approval
is obtained. There can be no assurance that the Qualifying Transaction will be
completed as proposed or at all. 


Investors are cautioned that, except as disclosed in the Circular in connection
with the Qualifying Transaction, any information released or received with
respect to the Qualifying Transaction may not be accurate or complete and should
not be relied upon.