Stocks That Glow! Uranium Plays

[sumisu]

Pancon/Crossland Commence Drilling at Kalabity

Press Release Source: Pancontinental Uranium Corporation On Tuesday April 6, 2010, 3:00 pm EDT

http://finance.yahoo.com/news/PanconCrossland-Commence-iw-3927086620.html?x=0&.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - 04/06/10) - Pancontinental Uranium Corporation (TSX-V:PUC - News) ("Pancon" or "the Company") and its joint venture partner, Crossland Uranium Mines Ltd. (ASX:CUX - News) advise that drilling has commenced at their Kalabity Uranium Project in South Australia (SA).

The Kalabity drilling marks the start of an aggressive 2010 Australian exploration program by Pancon and Crossland which includes seven drill programs to be conducted across their Kalabity(SA) and Chilling/Charley Creek Projects in the Northern Territory(NT).

Geoff Eupene, CEO of Crossland, said the Kalabity drill program is aimed at quickly establishing the grade, thickness and extent of uranium mineralization in the project's Tabita Prospect and will consist of up to 1,500 metres of aircore drilling, approximately 75 shallow holes, and excavator trenching.

"The Tabita Prospect at Kalabity represents a quite different style of mineralization in this area, where davidite is usually the main uranium bearing mineral in other nearby prospects" Mr. Eupene said.

"On our current available information, while Tabita appears to contain carnotite, the uranium vanadium mineral that is common in calcrete deposits, the prospect is not a calcrete channel deposit. The region around Tabita is on a slightly elevated area between streams, but the soils there carry gypsum, calcium sulphate" he said.

"We delayed our drilling on the Kalabity Project for a year to focus on our NT properties, so we are anxious to finally test this near-surface opportunity".

Background - Tabita Uranium Prospect

Crossland's work on the Tabita Prospect commenced in 2007 when it identified a large 3 km by 1 km uranium geochemical anomaly within the Kalabity Project after completing an extensive geochemical survey following an airborne radiometric and magnetic survey. The Tabita Prospect anomaly is located three and a half kilometres northwest of the previously defined KR4 target. Bedrock values of up to 140ppm uranium, above an anomaly threshold of 32ppm uranium, were obtained from a zone that remains open in all directions. Samples were taken on seven lines up to 500 metres apart. In addition, elevated values of cobalt, copper and nickel were obtained from rock float.

An auger drilling program in 2008 produced results from the Tabita anomaly including four drill sites returning bottom hole samples of over 200ppmU, with a highest of 235ppmU. Fifteen sites returned bottom hole values in excess of 100ppmU. The current drill program will determine if these uranium values increase at depth or laterally.

With the completion of this drill program, Pancon and Crossland will have earned a 60% interest in the Kalabity property.

All technical information in this release has been reviewed by Geoff Eupene, Qualified Person for Crossland and Pancon.

About Pancontinental Uranium Corporation

Pancontinental Uranium Corporation ("Pancon") is a Canadian-based company focused on uranium discovery and development. Through a joint venture with Crossland Uranium Mines Limited ("Crossland") of Australia, Pancon has established one of the strongest management teams in the uranium industry. 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 holds an impressive exploration portfolio with projects in prolific, mining friendly districts. Active exploration is ongoing at three Australian projects which include Chilling, Charley Creek, and Kalabity. 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. Pancon is earning a 50% interest in this significant uranium project portfolio through the joint venture with Crossland through the expenditure of A$8 million. Pancon and Crossland are also pursuing exploration beyond Australia through an international subsidiary company, Crosscontinental Uranium Limited, and immediate 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.

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.

Contact:

Contacts:Pancontinental Uranium CorporationRichard MarkPresident and CEO604-986-2020 or 1-866-816-0118Pancontinental Uranium CorporationKeith PateyDirector of Communications604-986-2020 or 1-866-816-0118http://www.PanconU.com/