DGAP-News

Pancon Gold Closes Its Acquisition of the Jefferson Gold Project in South Carolina, United States - Seite 2

a mineralized trend over 1.2 miles (2 km) wide.

Pancon Gold has engaged the services of Dr. Dennis LaPoint, PhD, LGeo, to
manage the exploration programs at Jefferson. Dr. LaPoint, who originally
assembled the Jefferson property package, managed and was responsible for
the 2011 exploration program at Jefferson and was the QP when the assay
results were originally released in Firebird's March 1, 2012 press release.
Pancon Gold is currently reviewing the historic data and is planning for an
effective staged drilling and exploration program to develop an initial
gold resource at Jefferson. The initial drilling by Pancon Gold will
commence in the 4th Quarter of 2016 following a financing, subject to
regulatory approval including the approval of the TSX Venture Exchange.

Dr. Dennis LaPoint is a qualified person under National Instrument 43-101
'Standards of Disclosure for Mineral Projects' and has approved the
technical information contained in this news release. Dr. LaPoint is not
independent of Pancon Gold, as he is a consultant of the Company. Dr.
LaPoint has verified all the technical data in this release.

As consideration for acquiring the 100% ownership in the Jefferson Gold
Project, Pancon Gold agreed to pay and issue:

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to Firebird and Pageland, in aggregate, cash totalling $100,000
($30,000 was paid on May 25 and a further $70,000 paid on closing), and
1,000,000 common shares (issued); and,

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to Appalachian, 1,000,000 common shares (issued).

In addition, Pancon agreed to settle Firebird's and Pageland's lease
arrears with the private landowners of approximately USD $183,000.

The common shares of Pancon Gold issued pursuant to the Jefferson Gold
Project acquisition are subject to a resale restriction until December 18,
2016.

About Pancontinental Gold Corporation

Pancontinental Gold Corporation is a Canadian-based mining company listed
on the NEX Board of the TSX Venture Exchange, trading under the symbol
PUC.H. 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. Pancon Gold is now focused on the exploration and development
of the Jefferson Project gold properties.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark
President and Chief Executive Officer

For further information, please contact Mr. Mark at:

Email: [e-mail]
Tel: [phone]
Fax: [phone]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts