Toronto, Ontario--(Newsfile Corp. - November 15, 2016) - Pancontinental Gold Corporation (TSXV: PUC) ("Pancon Gold" or the
"Company") is pleased to announce the commencement, on Monday, November 14, 2016, of its drill program at the Company's flagship
Jefferson Gold Project in Chesterfield County, South Carolina, United States. After compiling and reviewing the historic
exploration data from the Jefferson Project, Pancon Gold's strategic objective is to develop an initial gold resource through a
staged drilling program. This initial stage, consisting of approximately 5,000 feet (1,524 metres) of diamond drilling, will
continue into early 2017.
Pancon Gold's initial drill program at Jefferson builds on the very positive results from drilling in 2011 by the previous
project owners. All four holes in 2011 were drilled on Anomaly A and encountered mineralization, with the best hole averaging 1.27
grams of gold per tonne over 539 feet (164.3 metres), true width unknown. Detailed drill results for all four holes drilled in 2011
were included in Pancon Gold's news release of May 25, 2016.
Pancon Gold's drill program will again focus on the Anomaly A area, stepping out from the 2011 drill section in both directions
along the east-west gold trend. Two new fences will be drilled approximately 200 feet (75 metres) west and east of the 2011 drill
section. All new holes will be angled toward the south, and will range in depth from 400-600 feet (135-200 metres). Core samples
will be shipped to ALS Chemex for fire assay and inductively coupled plasma (ICP) multi-element analyses. Dr. Margaret Venable, a
seasoned exploration geologist with more than 30 years of experience managing and directing projects around the world, is
supervising Pancon Gold's initial drill program.
Dr. Laurie Curtis, Chair of Pancon Gold's Technical Advisory Committee states "We are now ready to begin our drilling at
Jefferson. I would like to compliment our team on their thorough analytical process. We fully expect this first drill program will
advance the highly mineralized Jefferson Project towards achieving the Company's goal of defining an attractive initial gold
resource."
The Jefferson Project is located six miles east of the Haile gold mine, which, according to its owner OceanaGold, will commence
commercial production in early 2017 after completing its $380 million construction phase. Like Haile, which is a proven
multi-million ounce gold resource, the Jefferson Project is part of the exceptional Carolina terrane, extending from Georgia to
Virginia. The Carolina terrane spawned the first gold rush in the United States in the early 1800s, has been mined by well known
producing companies until the 1990s, is host to gold deposits in South Carolina and four other States, and continues to be actively
explored today.
Dr. Dennis LaPoint, PhD, LGeo, the Company's Vice-President of Exploration, is a qualified person under National Instrument
43-101 - Standards of Disclosure for Mineral Projects, and has verified and
approved the technical information contained in this news release.
About Pancontinental Gold Corporation
Pancontinental Gold Corporation is a Canadian-based mining company focused on the exploration and development of the Jefferson
Gold Project 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 Gold 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
For additional information, please visit our website at www.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.
