PUC Pancontinental Resources Corporation

NOT FOR DISSEMINATION INTO THE USA

Pancontinental Uranium Corporation (TSX VENTURE:PUC) ("Pancon" or the "Company")
is pleased to announce that it has closed the first tranche of a non-brokered
private placement (the "Offering") (see news release October 17, 2013).


The Offering consisted of 3,603,175 units (the "Units") of the Company at a
price of $0.07 per Unit, for aggregate gross proceeds of $252,222.27. The
Company plans to use the proceeds of the Offering to fund exploration and
development work in its Joint Venture in NT, Australia and for general working
capital purposes.


Each unit is comprised of one common share (a "Common Share") in the capital of
the Company and one half of one Common Share purchase warrant (each whole
warrant, a "Warrant") of the Company. Each Warrant is exercisable to purchase
one Common Share at a price of $0.12 per Common Share for a period of eighteen
months following the closing of the Offering provided that if, at any time after
the date that is more than four months and one day following the closing of the
Offering, the Common Shares trade on a stock exchange at a volume weighted
average trading price of $0.25, or greater, per Common Share for a period of 20
consecutive trading days, the Company may accelerate the expiry date of the
Warrants by giving notice to the holders thereof. In such case, the Warrants
will expire on the 30th day after the date on which such notice is given by the
Company. 


In connection with the Offering, the Company paid certain finders cash
commissions totalling $15,750.00 and issued an aggregate of 225,000 finder
Warrants, each finder Warrant exercisable into one Common Share at an exercise
price of $0.12 per share for a period of 18 months after the closing of the
Offering, with identical provisions to the Unit warrant.


All of the Common Shares and Warrants issued pursuant to the Offering are
subject to a four-month hold period and the Offering remains subject to final
acceptance by the TSX Venture Exchange.


Pancon announces that it has extended the closing date for the Company's
Offering being conducted under the TSX Venture Exchange's "Temporary Relief
Measures". The Company expects to submit final documentation to the Exchange by
December 30, 2013. 


About Pancontinental Uranium Corporation

Pancontinental Uranium Corporation ("Pancon") is a Canadian-based company
focused on rare earth elements (REE) and uranium discovery and development.
Through a joint venture with Crossland Strategic Metals Limited ("Crossland") of
Australia, the combined 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 and Crossland hold an impressive REE and uranium
exploration portfolio with projects in prolific, mining friendly districts.
Pancon has a 45% participating interest in the Australian project portfolio.


Exploration is ongoing or has occurred at three Australian projects, known as
Charley Creek, Chilling, and Kalabity. Charley Creek has the potential for large
alluvial REE deposits, and large, lower-grade, Rossing-type, granite-hosted
uranium deposits. 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 The Kalabity project is in a district of
historic uranium/radium mining that contains a variety of known uranium deposit
styles.


ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark, President & CEO

For additional information, please visit our website at www.PanconU.com. 

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.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pancontinental Uranium Corporation
Rick Mark
President and CEO
604-986-2020 or 1-866-816-0118
604-986-2021 (FAX)
www.PanconU.com

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