Pancon Receives Written Consent from Shareholders to Sell its Interest in the Crossland Joint Venture

TORONTO, ONTARIO--(Marketwired - Feb. 20, 2015) -

NOT FOR DISSEMINATION INTO THE USA

Pancontinental Uranium Corp. (TSX VENTURE:PUC) ("Pancon" or the "Company") is pleased to announce that further to its press release dated January 15, 2015, it has received written consent from shareholders holding over 50% of the shares of the Company approving the sale of the Company's interest in its joint venture with Crossland Strategic Metals Ltd. to Essential Mining Resources PTY Ltd. As a result, the Company has cancelled its shareholders meeting set for March 13, 2015.

Subject to closing conditions being satisfied, closing is expected to occur in June 2015 or possibly earlier.

About Pancontinental Uranium Corporation

Pancontinental Uranium Corp. is a Canadian-based company focused on rare earth elements (REE) and uranium discovery and development. Through a joint venture with Crossland Strategic Metals Ltd. of Australia, the combined management and operating team has substantial experience from exploration, through development to operations. Pancon and Crossland hold a REE and uranium exploration portfolio with projects in NT, Australia. Exploration has primarily occurred on two projects, known as Charley Creek and Chilling.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark, President & CEO

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.