TORONTO, Nov. 19, 2012 /CNW Telbec/ - Gondwana Gold Inc. (TSXV: GON)("Gondwana" or the "Corporation") is pleased to announce that it has executed a definitive agreement dated November 19, 2012 with Pan African Oil Ltd. ("PAO") which contemplates a three-cornered amalgamation whereby securityholders of PAO will receive securities of Gondwana and PAO will become a wholly-owned subsidiary of Gondwana (the "Transaction"). Pursuant to the Transaction: (i) each common share of PAO will be exchanged for 0.8 (the "Exchange Ratio") of a common share of the Corporation; and (ii) each convertible security of PAO will be exchanged for similar convertible securities of the Corporation at the Exchange Ratio.