Acquisition Of The Historic Sawyer Gold Mine In North Carolina

TORONTO - Pancontinental Resources Corporation has entered into an exploration lease and purchase option agreement with the owner of Carolina Mining Company (CMC) for the historic Sawyer Gold Mine Property, a past-producing gold mine located in North Carolina. The 54.6 hectare (135 acre) property is located 5.0 km southwest along trend from the Company's recently announced New Sawyer mine acquisition.

Mineralization style and host rocks are similar at both Sawyer and New Sawyer properties and they both lie within the Sawyer-Keystone Gold Trend (Sawyer Trend). The Sawyer Mine property has an Historic gold resource estimate which contains 3.9 million tonnes at 1.1 g/t Au for 134,600 ounces of gold, at a 0.4 g/t Au cut-off grade. The mineralization is outcropping and is mainly near surface, containing mostly oxide and mixed oxide/sulfide mineralization with lesser sulfide resources. The mineralization remains open for expansion in several areas.