Pancon Gold Appoints Vice President Exploration and Forms Technical Advisory Committee

Toronto, Ontario--(Newsfile Corp. - November 1, 2016) - The Board of Directors of Pancontinental Gold Corp. (TSXV: PUC) ("Pancon Gold", "Pancon" or the "Company") is pleased to announce the appointment of Dr. Dennis LaPoint as Vice President, Exploration. Dr. LaPoint will lead Pancon's technical team and initial drilling program, scheduled to commence in mid-November at the Company's flagship Jefferson Gold Project in Chesterfield County, South Carolina, United States. Pancon has compiled and continues to review the historic exploration data at the Jefferson Project, and is planning for a staged drilling program to develop an initial gold resource.

The Pancon Board is also pleased to announce the formation of a Technical Advisory Committee, consisting of Dr. Laurence (Laurie) Curtis, a consultant to the Company, and Mr. David Mosher, a Director of the Company. The Technical Advisory Committee will perform an oversight role of the Company's drilling and resource plans and programs.

Dr. LaPoint is a seasoned exploration geologist and project developer, with extensive experience in South Carolina, including leading the exploration program at the Jefferson Project when it was under previous ownership. He assembled the original Jefferson property package, managed the successful four-hole 2011 exploration program, and was the Qualified Person when the assay results were released on March 1, 2012. He is a registered Qualified Person under Canada's National Instrument 43-101 "Standards of Disclosure for Mineral Projects."

With more than 40 years of experience in minerals exploration and mining, including 35 years working in the southeastern United States, Dr. LaPoint has successfully explored for and discovered significant gold deposits. His discoveries include the Merian Gold Deposit in Suriname, South America, which recently went into production by Newmont Mining Corp. with a reserve of more than 5 million ounces. He has also discovered gold deposits in South Carolina, and in North Carolina, where he currently resides. Dr. LaPoint is a registered geologist in South Carolina, North Carolina and Tennessee, and earned his PhD in Geology from the University of Colorado.

The new Pancon Gold Technical Advisory Committee brings a combined 75 years of geology, exploration, project development, mine building and capital markets experience. Leading the Committee is Laurie Curtis, a well-known and respected economic geologist and geochemist, with more than 40 years of global exploration, mining and capital markets experience.

As President and CEO of Intrepid Minerals Corporation, Dr. Curtis was responsible for taking the Casposo gold-silver project in Argentina to full feasibility; this project was subsequently sold and its mine is still operating. Dr. Curtis saw Intrepid transition through merger and acquisition to become a mid-tier gold producer and ultimately attain a market capitalization exceeding USD$1 billion, mainly due to the Tujuh Bukit copper-gold-silver deposit, one of Indonesia's largest deposits containing more than 25 million ounces of gold and 10 billion pounds of copper.

In recent years, Dr. Curtis has been active in the financial sector, as a senior mining research analyst for Clarus Securities and Dundee Capital Markets. He is a Director of three minerals exploration companies. Originally from Australia, Dr. Curtis resides near Toronto and earned his PhD in Exploration Geology from the University of Toronto.

David Mosher, who is a founding Director of Pancon Gold, is a geologist and mining executive with more than 35 years of experience in the United States, Canada, Australia, Russia, Asia and Africa. Over the past decade he has been active in the restructuring, financing and management of a number of minerals projects and mining companies, both private and public. Mr. Mosher is currently a Director of four public minerals exploration companies, including Pancon Gold.

From 1992-2008, Mr. Mosher served as President and CEO of TSX-listed High River Gold Mines Ltd., where he raised more than USD$300 million and developed three mines, from exploration to production, in Canada, West Africa and Russia. Under Mr. Mosher's leadership, High River Gold Mines' market capitalization increased from CAD$7 million to more than CAD$1 billion. In addition, he assisted with the expansion of two underground mines in Russia and outlined a 5 million ounce gold deposit in Burkina Faso, which subsequently became an operating mine. Originally from Nova Scotia, Mr. Mosher earned his BS in Geology from Acadia University.

In connection with the foregoing, the Company also announces that it has granted today to consultants of the Company, in accordance with the terms of the Company's stock option plan, an aggregate of 1,200,000 stock options exercisable at a price of $0.12 per Common Share and expiring on November 1, 2021.

About Pancontinental Gold Corporation

Pancontinental Gold Corp. is a Canadian-based mining company focused on the exploration and development of the Jefferson Gold Project in South Carolina and on acquiring additional prospective gold properties. The Company's shares are listed on the TSX Venture Exchange, trading under the symbol PUC. In 2015, Pancon sold its interest in its Australian rare earth element (REE) and uranium properties, formerly held through a joint venture, and retains a 1% gross overriding royalty on 100% of future production.

ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President & CEO

For further information, please contact:

Rick Mark, President and CEO
1-416-293-8437 or info@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 news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.