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Pencari Adds Uranium Property and Has Commenced Work in Madagascar VANCOUVER, BRITISH COLUMBIA, Jul 23, 2007 (CCNMatthews via COMTEX News Network) -- Pencari Mining Corporation ("Pencari") (TSX VENTURE:PMC) is pleased to announce it has acquired the mineral rights to 25 sq km in the historical uranium producing area of Ambatofosy. The property was acquired from a local Malagasy artisan miner. The Ambatofosy property is situated 18 kilometers west of the city of Soavinandriana and 106 km west of Antananarivo, the capital of Madagascar. Historical records reported that the French started selectively mining this area in the early 1930's producing 20 tonnes of Betafite from hand-cobbed ore that graded approximately 20-26% uranium oxide. Mining activities where shut down at the start of the Second World War and resumed in 1948 by the French Commission a l'Energie Atomique. Work during this time period consisted of 1200 meters of underground tunnels and 390 meters of drilling. Historical production and drilling records for this period are not available. Old workings on surface can be seen for a length of 250 meters by 100 meters. Artisans are presently mining the zone for quartz crystals 800 meters from the old mine workings. This is an indication that the structure could continue for a considerable distance, increasing the opportunity to expand the zone of uranium mineralization. Pencari feels that this property holds excellent potential and is a strategic fit with our current uranium property portfolio in Madagascar. "The high-grade nature of the hand-cobbed ore, 20-26% uranium oxide with an indication that structure could continue for a considerable distance, represents an exciting exploration opportunity," quoted Adrian Rollke, President of Pencari. Pencari has commenced field work on its properties in Madagascar. This work consists of a geological and geophysical program of radiometric and magnetic surveys, sampling, trenching and geological mapping. This program is designed to allow for drilling as early as the fall of this year. Information in this press release has been reviewed by Mr. Jerry Blackwell P.Geo., a qualified person under NI 43-101. Pencari Mining Corporation is an exploration and development company publicly traded on the TSX Venture Exchange. PENCARI MINING CORPORATION Adrian Rollke, President, CEO & Director This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results. SOURCE: Pencari Mining Corporation Pencari Mining Corporation Adrian Rollke President, CEO & Director [phone] [phone] (FAX) Email: [e-mail] Copyright (C) 2007 CCNMatthews. All rights reserved.