Pancontinental Resources Corp (PUC)

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Pancon/Crossland Further Expands NT, Australia Property Package Through Joint Venture With Western Desert Resources

Press Release Source: Pancontinental Uranium Corporation On Wednesday August 4, 2010, 1:12 pm EDT

http://finance.yahoo.com/news/PanconCrossland-Further-iw-343632720.html?x=0&.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - 08/04/10) - Pancontinental Uranium Corporation (TSX-V) ("Pancon") is pleased to advise that its joint venture partner Crossland Uranium Mines Limited ("Crossland") (ASX:CUX) has announced today a further expansion of the NT, Australia area covered by their key Charley Creek Uranium Project by entering into a joint venture with Western Desert Resources Ltd (WDR) on that company's Clough's Dam property, EL25657.

The new Joint Venture follows Pancon/Crossland's announcement yesterday that they had acquired another neighboring uranium exploration area, Bloodwood-Highland Rocks, from Global Geoscience Ltd.

The nearly 400 square kilometre area under the WDR Joint Venture, combined with recent EL acquisitions and applications, will take the total area covered by Pancon/Crossland's Charley Creek Project to over 4,590 square kilometres.

Pancon and Crossland remain primarily focused on the uranium potential of the Charley Creek Project, where core drilling has recently commenced within their Cockroach Dam Prospect, and their strong commitment to the district means that additional areas can be explored cost effectively. In addition to uranium, Crossland's work in the Charley Creek Project area over several years has identified other areas of interest including potential for deposits such as nickel and platinoids associated with layered mafic intrusives, as well as rare earth elements (REE).

Basic stream sediment surveys and comprehensive airborne geophysical coverage by Northern Territory Geological Survey programs give good basic data that has already generated targets for follow up within Clough's Dam. Pancon and Crossland are planning a detailed airborne radiometric survey of the newly acquired areas later this year.


--The terms of the WDR Joint Venture are that Pancon/Crossland will spend $100,000 on exploration within 12 months of entering the agreement and before withdrawal from the agreement. Pancon/Crossland will expend a total of $500,000 within 3 years to earn a 60% interest in the title, at which point WDR has the option to participate, or to reduce to a free carried interest of 20% to completion of a feasibility study. At that stage, WDR may elect to participate at 20% interest, or reduce to a 2% net smelter return royalty on production.

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.

Contact:

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