Pancontinental Uranium Corporation: Scoping Study at Charley Creek REE Project Due at End of February

Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon" or the "Company")
is pleased to report that today its Joint Venture partner, Crossland Uranium
Mines Limited ("Crossland"), announced that the Scoping Study for a mining and
processing operation at the Charley Creek Alluvial Rare Earth Project in Central
Australia is proceeding well.


The study will produce capital and operating cost estimates for all of the major
facets of the Charley Creek project including mining operations, wet and dry
plant mineral concentration facilities, REO refinery, infrastructure,
accommodation, water supply, and draft environmental scoping document (ESD).


Pancon President and CEO, Rick Mark, states: "The Scoping Study is an important
early milestone in the Charley Creek Mine development process. The Project's
alluvial mining techniques give us significant Capex advantage and we believe
the preponderance of heavy REEs evident at Charley Creek can also give us a
clear advantage over most REE projects."


The study assumes a staged development, commencing with the production of a high
grade (40%+) TREO concentrate, followed by the construction of a refinery to
remove uranium, thorium and major gangue elements to produce a high purity mixed
rare earth carbonate product.


Progress on specific elements of the study is as follows:



1.  MSP Engineering was awarded the engineering scoping study in November
    2012 and is on track to deliver their final study report at the end of
    February. This study will provide a capital and operating cost estimate
    for the production of a high grade monazite/xenotime concentrate and
    associated infrastructure. ALS Metallurgy (Ammtec) has completed
    sulphuric acid bake and caustic 'crack' test work on a high grade
    Monazite/Xenotime concentrate sample from the Charley Creek project.
    Initial results indicate both process routes are technically feasible.
    Further optimisation test work on the production of concentrate and the
    refinery will be undertaken in the first half of this year.

2.  Process design for the REO refinery has been awarded to a specialist
    consultant. A process design package is expected to provide to MSP
    Engineering to generate a +/-35% capital and operating estimate for the
    construction and commissioning of the REO refinery. The study flowsheet
    will consist of the following process steps:

        Sulphuric acid pug roast -- Water leach -- Iron/Thorium
        precipitation -- Uranium IX -- RECO3 Mixed Carbonate precipitation
        -- RECO3 drying and packaging.

    Capital and operating cost estimates for the REO refinery are expected
    to be available at the end of the first quarter of 2013.

3.  GHD is progressing towards the draft EIS for the Charley Creek project.
    GHD is also undertaking hydrogeological studies across the Charley Creek
    project area to source sufficient underground water for mining and
    processing plants.



These studies are designed to generate the necessary data to allow economic
assessment of the Charley Creek project to be quantified. The Scoping Study and
economic assessment of the project will be made available to shareholders on
completion. Crossland expects that the Scoping Study and financial analysis will
provide a compelling business case and that the project will then proceed
quickly to further resource drilling of starter pit areas, and a Feasibility
Study.


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. 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

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 Toll Free: 1-866-816-0118
604-986-2021 (FAX)
www.panconu.com