Pancontinental Resources Corp (PUC)

[sumisu]

Pancontinental Uranium Corporation and Crossland Uranium Mines Limited Prepare for Drilling at Cockroach Dam (NT) Prospect

Press Release Source: Pancontinental Uranium Corporation On Tuesday July 6, 2010, 6:30 am EDT

http://finance.yahoo.com/news/Pancontinental-Uranium-iw-1014195047.html?x=0&.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - 07/06/10) - Pancontinental Uranium Corporation (TSX-V:PUC - News) ("Pancon") is pleased to announce that its JV partner, Crossland Uranium Mines Limited (ASX:CUX - News) ("Crossland"), has advised that the sacred site inspections have been advanced significantly for its Cockroach Dam Prospect in the Charley Creek Project, 130 km to the West North West of Alice Springs in the Northern Territory in Australia.

The budgeted core drilling program (see press release of March 8, 2010) at Cockroach Dam will commence as soon as clearance advice is received from the Central Land Council (CLC), and Crossland is now preparing for this with access preparation.

Drilling will test zones of elevated radioactivity from uranium within outcropping of the Teapot Granite, while a parallel auger drilling program that evaluates separate zones for alluvial heavy mineral concentrations will also commence. These may host interesting concentrations of Rare Earth Elements that may enhance the project.

Pancon President and CEO, Rick Mark states: "Charley Creek is tremendously prospective for Uranium. This long anticipated drill program will allow Geoff Eupene and his team to begin defining its real potential."

The recent inspection for clearance of the Cockroach Dam program from CLC, has been undertaken on behalf of Aboriginal Traditional Owners and Custodians under the terms of an existing Exploration Access Deed between CLC and Crossland.

Authorizations are already in hand for the Cockroach Dam drilling program from NT Government mining regulators and the Aboriginal Areas Protection Authority (AAPA).

Pancon and Crossland acknowledge the efforts of the Aboriginal People connected to its large holdings in the Charley Creek Project, the CLC, and AAPA, in concluding these matters. Crossland is also grateful for the cooperation and assistance of its host pastoralists, and the Company's consultants and advisors in reaching this outcome.

Pancon and Crossland will keep the market informed of developments.

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

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.

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.


Contacts:Pancontinental Uranium CorporationRichard MarkPresident and CEO604-986-2020 or 1-866-816-0118Pancontinental Uranium CorporationKeith PateyDirector of Communications604-986-2020 or 1-866-816-0118604-986-2021 (FAX)www.PanconU.com