Pancon Completes and Files Charley Creek NI 43-101 Technical Report

NOT FOR DISSEMINATION INTO THE USA

Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon" or the "Company")
is pleased to announce that a NI 43-101 Technical Report regarding the Charley
Creek Rare Earth Project, situated approximately 100km west-northwest of Alice
Springs in the Northern Territory, Australia is now available on SEDAR and on
the Company's website at www.panconu.com. The Technical Report was prepared by
Behre Dolbear Australia Pty Limited.(BDA).


The Company believes the December 2013 NI 43-101 technical report is an
excellent summary of the Charley Creek project.


BDA emphasises that the project is at an early stage and there are many
uncertainties in relation to the assumptions on which the financial model is
based. The analysis demonstrates the sensitivity of the project to the various
assumptions and in particular reinforces the exploration focus to identify and
prove up areas of continuous higher grade starter pits to provide a higher grade
feed for processing in the initial years of production.


The financial model, with inputs described in the report, forecasts that project
cash flows after royalties and company tax over the LOM will total A$140M; the
net present value ("NPV") of the cash flows at a real discount rate of 10% is
-A$73M. The operation is most sensitive to variations in REO prices.


Pancon is now reviewing the report and its nine recommendations (see below) and
will discuss the impact on planning for the growth of Charley Creek with its
Joint Venture partner Crossland Strategic Metals this month


RECOMMENDATIONS

BDA makes the following recommendations for the progression of the Charley Creek
project. It is recognised that a number of these activities are already planned
to be carried out and are part of the joint ventures planned future programs:




--  BDA recommends that a more systematic grid drilling approach be adopted
    for future potential resource areas. BDA recognises that the limited
    drill coverage to date has been as a result of access restrictions
    requiring drilling to be undertaken along existing roads or fence lines.
    To progress the project, more systematic grid drilling is required and
    Crossland advises that it anticipates that these restrictions will be
    relaxed for future investigations. BDA has reviewed the future work
    programme planned by Crossland and Pancon and considers it reasonable
    and appropriate. The budget for the proposed drilling, exploration and
    development work planned for 2014 totals A$548,000; BDA considers the
    allocated funds to be appropriate for the next stage of planned
    exploration. Assuming the identification of areas of potentially
    economic grade, systematic grid infill drilling will be required to
    establish an appropriate basis for resource estimation. BDA suggests
    that in selected areas, drill spacing as close as 50 x 50m will be
    required to provide a guide to the variability of the deposit, but
    overall an initial 200 x 200m grid with infill to 100 x 100m (dependent
    on variability) is likely to be appropriate for the next stage of
    resource estimation. BDA suggests provision of A$0.2M for the first
    stage of systematic infill drilling. 

--  The alluvial outwash fans in the Charley Creek region are very extensive
    and BDA recommends that widespread mapping, sampling and scout drilling
    be undertaken prior to focussing detailed grid drilling on a specific
    area. Crossland has indicated that it considers that some areas of the
    alluvial fans will support mining of higher grade TREO material for a
    period of around five years in a series of starter pits, before
    reverting to an average ROM grade of 300ppm for the rest of the mine
    life. This hypothesis is yet to be proved, but is an important factor in
    Crossland's modelling and assessment. BDA recommends that proving, or
    disproving, this higher grade potential should be a significant focus of
    the next field work programme. Crossland's 2014 budget of A$170,000 for
    the drilling of 100 reconnaissance aircore holes is considered
    appropriate to initiate this programme. BDA recommends that industry
    standard QA/QC approaches be adopted for all future drill and sampling
    programmes including duplicate sampling, submission of certified
    samples, duplicates and blanks within the batches submitted for assay.
    Periodic 'third-party' testing using alternative accredited laboratories
    should also be carried out. The independent check data and the
    laboratory internal checks should be subject to routine statistical
    analysis to ensure that appropriate standards of precision and accuracy
    are being maintained. This work should not have a material impact on the
    overall cost of the drilling programme. 

--  BDA recommends that a specialist independent group be engaged to
    undertake the resource estimation, though Crossland geologists should
    maintain the major role in terms of geological interpretation of the
    deposit boundaries and distribution. BDA estimates that an independent
    data audit and resource estimation would cost around A$40-50,000. 

--  Once appropriate areas have been identified and resource drilling has
    been carried out, BDA suggests that bulk sampling should be considered
    over the potentially mineable widths. BDA suggests that a large diameter
    bucket rig with a 500-900mm bucket be considered for such a task,
    allowing the extraction of several bulk samples over the full thickness
    of the resource in several locations. This work will also provide
    valuable mining and hydrological data. If a bucket rig is not readily
    available then an excavator could be used, but this has the disadvantage
    of only sampling the upper few metres of the alluvials. BDA suggests
    that around A$100,000 be budgeted for a bulk sampling exercise, post the
    resource infill drilling stage.

--  Although the proposed mining operation should be a fairly
    straightforward bulk earthmoving operation to a relatively shallow
    depth, BDA recommends that, as a minimum, conceptual mine designs and
    materials handling plans be incorporated in the next level of study. It
    is recommended that preliminary mine planning be undertaken to ascertain
    how the mining sequence can be balanced with maintaining higher grades
    to the process plant in the initial period of the operation. BDA
    estimates that the work required to prepare a preliminary mine plan and
    schedule would cost around A$35-45,000 if carried out be an independent
    consulting group.

--  It is recommended that more metallurgical testwork for the wet and dry
    plants as well as for the refinery be conducted using samples
    representative of the deposits to be mined and of the feed grades
    expected. Systematic process testwork should be carried out on the bulk
    samples including screening, spiral testing, and magnetic and
    electrostatic separation to test and further develop and refine the
    proposed plant design and confirm the recovery factors. BDA suggests
    that a sum of approximately A$70,000 be budgeted for the next stage of
    follow-up metallurgical testwork.

--  Detailed testwork is recommended on the planned refinery processes
    including the removal of radioactive minerals to ensure a saleable
    concentrate. Due consideration needs to be given to the handling of the
    more radioactive mineral streams and the disposal of the waste
    component. BDA suggests that this programme be incorporated in the
    A$70,000 metallurgical testwork budget suggested above.

--  Marketing and offtake discussions should be undertaken with interested
    parties to ensure that markets are available for the projects products
    and to incorporate appropriate cash flow estimates in the economic
    modelling.

--  Environmental studies are already underway; infrastructure studies
    should focus on the major items of access to an adequate supply of
    groundwater and power supply, including access to an appropriate supply
    of natural gas. The current and ongoing environmental monitoring studies
    are budgeted at A$95,000 for 2014. Initial infrastructure studies would
    not require a material budget, but once the project progresses past the
    scoping study stage detailed groundwater investigations will be required
    to confirm a source of project process water. BDA suggests that an
    initial amount of A$50,000 be budgeted for groundwater investigations.



About Pancontinental Uranium Corporation

Pancontinental Uranium Corporation ("Pancon") is a Canadian-based company
focused on rare earth elements (REE) and uranium discovery and development.
Through a joint venture with Crossland Strategic Metals Limited ("Crossland") of
Australia, the combined 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.
Pancon has a 45% participating interest in the Australian project portfolio.


Exploration is ongoing or has occurred at three Australian projects, known as
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.


ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark, President & CEO

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pancontinental Uranium Corporation
Rick Mark
President & CEO
604-986-2020 or Toll Free: 1-866-816-0118
604-986-2021 (FAX)
www.panconu.com