Pan Asia Corporation Limited (ASX:PZC) Clarification of Potential Open Pit at TCM Project

Perth, Australia (ABN Newswire) - Further to the Pan Asia Corporation Limited's (ASX:PZC) announcement of 23 August 2011 'Results confirm potential of Open Pit Area at TCM Project', the Company would like to clarify that the ~3 million tonnes of coal contained within the existing JORC resource that are potentially open pittable, are all of Indicated category.

The Company has further commissioned a LIDAR topographic survey and the results of this are expected within 4 weeks. These results, along with detailed open pit optimisations, sensitivity analysis & preliminary pit designs should enable the resource category to be further upgraded. Similarly, when the entire current drill programme is completed, an upgraded JORC resource for both the underground and open pit areas will be calculated and advised.

About Pan Asia Corporation Limited:

Pan Asia Corporation Limited (ASX:PZC) is a rapidly growing resource company listed on the Australian Securities Exchange with offices in Perth, Sydney, and Jakarta.

The Company aims to be a major supplier of key resources into the expanding Asian markets and has a balanced mix of thermal coal assets in Indonesia including:

1) A Flagship Pre Development project that has a JORC resource in South Kalimantan (TCM)

2) A Flagship Exploration project that has large tonnage potential (BCKP)

3) Cashflow from production via its financing and offtake arrangements of projects in East Kalimantan with Ranrich

4) A Pipeline of other project opportunities covering each of the above categories.

The evaluation and development of the current projects, in addition to the many new opportunities arising from a strong local partner network, will be the foundation for the Company's aim to become a significant supplier of key resources to the growing Asian markets over the coming years.

Pan Asia brings together an experienced Board and management team with a proven track record in the identification, funding and development of resources projects around the world.

Source:

Pan Asia Corporation Limited

Contact:

Alan Hopkins
Chief Executive Officer
Pan Asia Corporation Ltd
Tel:  61-8-9381-5819
http://www.panasiacorp.com.au