PANCONTINENTAL URANIUM CORPORATION

Pancontinental Uranium and Crossland Uranium Mines, the operator, provided an update on progress in the Buchanan Window area near the Fish River Fault Zone, at the south end of the company’s Chilling project area, in the Pine Creek Orogen of the Northern Territory. A drill program is planned for approximately 3000 meters and is scheduled to begin within one week. It is designed to test for higher grades beneath the zone of surface depletion. Soil sampling has defined a large uranium-base metal anomaly in the Buchanan Window area at the southern end of Crossland’s flagship Chilling Project in the NT, Australia. The anomaly has a strike length of at least 3km and width of 100 to 200m. Soil values within this zone are generally over 5ppm uranium and 64ppm copper, and are up to 45ppm uranium, 555ppm copper, 517ppm cobalt, 364ppm nickel and 1.8ppm silver.