PUC Pancontinental Resources Corporation

Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon" or the "Company")
is pleased to announce that on Friday November 23, 2012, its Joint Venture
partner, Crossland Uranium Mines Limited ("Crossland"), announced positive
initial test results from downstream hydrometallurgical test work and other
initiatives to achieve early production. 


The results confirm that the high grade TREO heavy mineral concentrate is
amenable to conventional sulphuric acid digestion with over 95% recovery into
solution. This is another important milestone in the technical program and
enhances and expands the Charley Creek project's development options vis a vis
the ability to produce and sell a heavy mineral concentrate to existing REO
refineries.


Other efforts to fast track development of the Charley Creek project include the
appointment of the following consultants to the project evaluation and
development team:




--  MSP Engineering of Perth has been engaged to complete a Scoping Study
    that contemplates the production of Monazite/Xenotime mineral
    concentrates as the initial saleable product from the Charley Creek
    project. 
--  GHD, a leading international environmental consultancy, has been engaged
    to commence base line surveys as part of an Environmental Impact Study
    (EIS).



By initiating important EIS base line studies now, the Joint Venture expects to
start permitting an initial heavy mineral concentration plant starting in early
2014.


Following the release of the JORC compliant resource at Charley Creek in May
2012 (not NI 43-101 compliant), the Joint Venture has continued to review and
interpret drilling and regional geochemistry data and is now investigating the
potential for higher grade areas within the resource that could, potentially,
represent high grade starter pits. Processing higher grade material in the early
years of production should materially enhance the project economics and result
in a relatively short payback period. More details on this will become available
in coming weeks as work progresses on the Scoping Study.


The full Crossland Uranium press release is as follows:

Crossland has commenced downstream hydrometallurgical testwork on a recent high
grade Monazite/ Xenotime concentrate generated from over 400kg of Heavy Mineral
Concentrate prepared on site from 10 separate sample pits across the Cattle
Creek and Cockroach Alluvial Deposits at Charley Creek. The objective of this
testwork is to demonstrate that the Charley Creek TREO Concentrate is amenable
to conventional sulphuric acid digest and caustic 'crack' processes, and is a
suitable feedstock for existing REO refineries. The testwork results will also
provide design input for a future engineering study for a rare earth refinery to
produce a light and heavy rare earth carbonate or hydroxide products from
Charley Creek concentrate. 


Key Highlights 



--  Bulk TREO Concentrate containing 44% TREO has been generated for
    downstream test work and to provide samples for potential off-take
    partners. 
--  Preliminary results using sulphuric acid digest and water leach on this
    TREO Concentrate has resulted in 95.5% TREO extraction. 
--  Water leach solution contained 35 g/L rare earth sulphates.



The downstream hydrometallurgical testwork is being undertaken at ALS Metallurgy
in Perth under the direction of Crossland. Caustic 'crack' test work using
sodium hydroxide and hydrochloric acid is now being progressed and these results
will be released during the current quarter. 


Crossland also advises that MSP Engineering of Perth is engaged on a Scoping
Study of production of Monazite/ Xenotime mineral concentrates as the initial
saleable product of the project. This study is slated for completion during
January 2013. Additionally, GHD have commenced base line surveys as part of an
Environmental Impact Study of an initial 20 year mine, and potential Dry Plant
site areas. The EIS is targeted for completion by the end of 2013 to allow
permitting to proceed in 2014.


The information in this report that relates to Exploration Results, Mineral
Resources or Ore Reserves is based on information compiled by Geoffrey S Eupene
CP, a Fellow of the Australasian Institute of Mining and Metallurgy. He is a
director of the Company and a full time employee of Eupene Exploration
Enterprises Pty Ltd. He has sufficient experience which is relevant to the
styles of mineralisation and types of deposits under consideration, and to the
activity which he is undertaking to qualify as a Competent Person as defined in
the December 2004 edition of the Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves (the JORC Code). Geoffrey S Eupene
has consented to the inclusion in this report of the matters based on this
information in the form and context in which it appears.


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

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. 


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

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