Pancontinental Resources Corp (PUC)

[EnergyGuy62]

Dear Pancon followers, Today's release from Australia summarizes our progress in developing the REE opportunity at Charley Creek. Geoff Eupene has provided a detailed statement of the status of the program to date and also describes the processes he is using to analyze and develop this REE discovery. The REE discovery is at surface and the timeline to understanding what we have is very short. As you will read, an REE production scenario is part of the 2011 business being contemplated. You can expect a thorough update on the Chilling Project, including 2011 plans and results from the U drilling at Charley Creek, in January. Best Regards, Rick Mark CEO Pancontinental Uranium Corp. RARE EARTH ALLUVIAL SAMPLING PROGRAM AT CHARLEY CREEK, NT, PROGRESSING WELL; OVER 200 SAMPLES COLLECTED Vancouver, B.C., December 21, 2010. Pancontinental Uranium Corporation (TSX-V: PUC) ("Pancon") and joint venture partner Crossland Uranium Mines Ltd. (ASX:CUX) ("Crossland") are pleased to update shareholders on the rare earth alluvial sampling program from the Charley Creek Project, Northern Territory, Australia. Highlights The accelerated two-part, Phase One Rare Earth Elements (REE) alluvial sampling program is progressing on schedule; over 200 samples collected to date. Results of the Phase One program on the REE program are expected early in 2011. Assuming these results prove positive, an evaluation leading to Resource definition is planned to commence immediately, with the aim of being completed by late in 2011 on an initial alluvial volume. Background On November 1, 2010, Pancon and Crossland announced that extensive alluvial deposits have been identified in their Charley Creek Project, and that these deposits contained heavy minerals with rare earth elements (REE). These REE are present in phosphate minerals that should be readily processible using available REE extraction technology. The heavy mineral concentrate produced from the initial Charley Creek tests weighed approximately 2kg and contained grades and proportions of individual REE as indicated in the following table. The concentrate was produced from panning approximately 400kg of alluvium, followed by removal of the magnetic minerals from the sample and a TBE heavy liquid separation.