Pancontinental Uranium Corporation: Charley Creek REE Project Scoping Study Delivers Robust Economics for a Long-Life, Low Ca...

Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon" or the "Company")
is pleased to announce that its Joint Venture partner, Crossland Uranium Mines
Limited (ASX:CUX) ("Crossland"), issued two press releases Monday in Australia.
Both are related to the publication of the JV's JORC-compliant Charley Creek REE
Scoping Study. The first is an extensive summary and review of the Scoping Study
and the second is their latest investor presentation on Charley Creek. Both are
accessible through the links provided in this release.


The JORC-compliant Charley Creek Scoping Study was conducted by MSP Engineering,
an independent consultant, and was overseen by Crossland's Chief Operating
Officer Tony Chamberlain. It details capital and operating cost estimates for
all of the major facets of the Charley Creek REE Project including mining
operations, wet and dry plant mineral concentration facilities, REO refinery,
infrastructure, and water supply. The study assumes construction of a wet and
dry mineral concentrator to produce a high grade (40%+) TREO concentrate
followed by onsite refining to remove uranium, thorium and major gangue elements
to yield a high purity mixed rare earth carbonate product.


Pancon President and CEO, Rick Mark states: "This is a major milestone that we
believe ranks Charley Creek high amongst other REE development projects,
worldwide. Charley Creek's alluvial deposits mean lower mining costs. We have a
preponderance of HREEs, which means we can produce the Rare Earths that are in
great demand. The composition of the ore is amenable to recovery by existing
well-proven methods and these attributes contribute to construction costs of
relatively low magnitude. The project is situated in close proximity to the
necessary mining infrastructure in the Alice Springs area, including rail to the
port of Darwin in the Northern Territory. And finally, Australia is a respected
political jurisdiction for mining. We are looking forward to taking this report
to the investment community as well as the Governments and Companies associated
with Rare Earth production and consumption." 


The Crossland press release can be viewed using the following link:
http://www.asx.com.au/asxpdf/20130415/pdf/42f7v06gx1svy4.pdf 


Crossland's Charley Creek investor presentation can be viewed using the
following link: http://www.asx.com.au/asxpdf/20130415/pdf/42f7v3g3cbz3nl.pdf


DISCLAIMER

This report was prepared for Crossland Uranium Mines Limited (Crossland) by MSP
Engineering Pty Ltd (MSP) as an independent consultant and is partly based on
information provided by Crossland and partly on information not within the
control of either Crossland or MSP. 


The May 15, 2012 JORC-compliant resource estimate is not independent and,
therefore, is non 43-101 compliant.


CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain of the statements made and information contained in this report may
constitute forward-looking information and forward-looking statements
(collectively, "forward-looking statements") within the meaning of applicable
securities laws. The forward-looking statements in the report reflect the
current expectations, assumptions or beliefs of MSP based upon information
currently available to MSP. With respect to forward-looking statements contained
in this report, assumptions have been made regarding, among other things, the
reliability of information prepared and/or published by third parties that are
referenced in this report or was otherwise relied upon by MSP in preparing this
report. Although MSP believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and no assurance can be given that these
expectations will prove to be correct as actual results or developments may
differ materially from those projected in the forward-looking statements.
Factors that could cause actual results to differ materially from those in
forward-looking statements include unforeseen technology challenges and the
level of global economic activity.


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, 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 REE and uranium exploration portfolio with projects
in prolific, mining friendly districts. 


Exploration is ongoing or has occurred at three Australian projects which
include 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. Pancon has a 45% participating interest
in this significant REE and uranium project portfolio. 


ON BEHALF OF THE BOARD OF DIRECTORS

Don Whalen, Chairman & Director

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 and CEO
604-986-2020 or 1-866-816-0118
604-986-2021 (FAX)
www.PanconU.com