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Pancontinental Uranium Corporation announces scoping study at Charley Creek REE project due at end of February

Thursday, Jan 31, 2013

Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon" or the "Company") is pleased to report that today its Joint Venture partner, Crossland Uranium Mines Limited ("Crossland"), announced that the Scoping Study for a mining and processing operation at the Charley Creek Alluvial Rare Earth Project in Central Australia is proceeding well.

The study will produce capital and operating cost estimates for all of the major facets of the Charley Creek project including mining operations, wet and dry plant mineral concentration facilities, REO refinery, infrastructure, accommodation, water supply, and draft environmental scoping document (ESD).

Pancon President and CEO, Rick Mark, states: "The Scoping Study is an important early milestone in the Charley Creek Mine development process. The Project's alluvial mining techniques give us significant Capex advantage and we believe the preponderance of heavy REEs evident at Charley Creek can also give us a clear advantage over most REE projects."

The study assumes a staged development, commencing with the production of a high grade (40%+) TREO concentrate, followed by the construction of a refinery to remove uranium, thorium and major gangue elements to produce a high purity mixed rare earth carbonate product.

Source: Marketwire

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