Pancontinental Resources Corp.

Nickel, Cobalt, Copper and Gold Exploration in North America

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Overview

Pancontinental Resources Corporation (“Pancon”) (TSXV:PUC) is a Canadian-based mining company focused on the exploration and development of its strategic battery metals projects in proven mining districts with excellent infrastructure, existing resources and/or in proximity to producing or former mines.

Looking to help address the growing demand for battery metals, Pancon’s flagship projects are:

  • McBride nickel-cobalt-copper project, an advanced exploration and development property with historical resources of 5.1 million tons of nickel-cobalt-copper mineralization (Historical Resources (1970)  pre-dating NI 43-101 resources) which was previously explored by Macassa Gold Mines Ltd. and Long Lac Minerals Ltd., and
  • Montcalm West nickel-cobalt-copper project, a target-exploration project contiguous to Glencore’s (LSE:GLEN) former Montcalm mine property.

The Company also holds the Jefferson Gold project, located in the Carolina Gold Belt,12 kilometres away from OceanaGold’s (TSX:OGC) Haile mine, which produced 574,606 ounces of gold in 2017.

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.

Company Highlights

  • A leading battery metals explorer focusing on commodity, geology, location, timing and people
  • Developing Ni-Co-Cu projects with established resources or near producing/former mines in proven mining districts
  • Projects in low-risk regions with pro-mining local government, communities and excellent infrastructure
  • Nickel, cobalt and copper are all in strong demand due to electric vehicle and battery demand growth
  • Technical and management teams with demonstrated record of discoveries in the mining industry

The Advanced Exploration McBride Project

The McBride project covers 880 hectares and is 25 kilometres south of Bancroft, Ontario in the township of Limerick. The McBride project is supported by well-established infrastructure. It is easily accessible by Provincial Highway 62 and a secondary power line runs within one kilometres of the project’s North Zone deposit and a major power grid crosses Provincial Highway 65 approximately 17 kilometres south of the project.

Additionally, the McBride project is located near the Canadian National Railway network, providing the company an easy and affordable access point to the nearby nickel smelting facility in Sudbury, Ontario.

The Company has the option to earn up to 76% of the nickel-cobalt-copper project. That number can increase to 90% if their partner, Hastings, chooses not to fund its share of the venture after 76% ownership is earned by Pancon.

The project is subdivided into three parts: the North Zone deposit, the South Zone Deposit and the South Extension prospect, which were drill tested with 90 holes in the 1960s and early 1970s. The project contains historical resources of near-surface nickel-cobalt-copper mineralization, with an estimate of 5.1 millions tonnes.  This includes 3.9 million tons grading 0.82% nickel, 0.054% cobalt and 0.25%  copper in the North Zone, and 1.2 million tons, grading 0.30% nickel, 0.03% cobalt and 0.14% copper in the South Zone deposit.

An interim report of the McBride project published in 1970 by its previous owners, Macassa Gold Mines, found that the property could be a profitable operation, providing the ore reserve grades of 0.253% copper, 0.825% nickel and 0.054% cobalt is consistent.

Pancon is digitizing all available data and surveys, compiling down-hole survey data, and planning a new drill program. The 70 drill holes from 1969-1970 will be re-logged and re-sampled since hole locations are known, all collars remain, and most were surveyed precisely.

The surface exploration program will focus on the eastern contact of the Thanet Complex, along strike from both the North and South Zones and it is comprised in three phases:

  • Phase 1 of the project work program will include re-establishing grid lines, prospecting, geological mapping, stripping, trenching, geochemical surveys, and state-of-the-art airborne gravity and versatile time domain electromagnetic (VTEM) geophysical surveys
  • Phase 2 will include infill drilling to test and confirm previous drill results, and exploration drilling on new targets generated in Phase 1, all to support an updated NI 43-101 resource estimate for the North Zone and South Zone
  • Phase 3 will include metallurgical work on fresh core that is not oxidized, in order to see base metal recoveries as well as precious metal content and recoveries

The Montcalm West Project

Pancon’s second nickel-cobalt-copper project is located approximately 65 kilometres northwest of Timmins and covers 11,600 hectares within the Montcalm Greenstone Belt in the Porcupine Mining Division.

The Montcalm West project consists of three properties, the Montcalm property, the Nova property and the Gambler property. With the exception of a 20 hectare claim unit, government protected lands and mining leases controlled by Glencore, the 100%-owned project now encompasses all available land within the prospective Montcalm Gabbro Complex.

The Gambler and Montcalm properties possess a similar geology to the Lynn Lake “A” Gabbro Intrusive in neighbouring Manitoba, an intrusion which hosted 15 separate nickel-copper deposits with a combined historical tonnage of 28.4 million tonnes at 0.906% Ni and 0.489% Cu. Substantial cobalt was also recovered from these deposits.

Glencore’s claims cover the former Montcalm mine, adjacent to Pancon’s project. The mine was a nickel-copper-cobalt producer, which mined 3.9 million tonnes of ore grading 1.25% nickel, 0.67%copper and 0.051% cobalt exceeding four million pounds.

According to Layton Croft, president and CEO of Pancon, “the highly prospective Gambler Property, not previously explored using modern technology, gives us exceptional new land for target identification.”

The Company plans to conduct gravity geophysics and VTEM testing to identify targets for a drill program in the winter. Thanks to advances in technology, these tests present the opportunity to locate new targets on the project untested by previous operators.

Management

Layton Croft—President, CEO And Director

Layton Croft is a seasoned business executive with more than 25 years of global leadership experience and expertise in corporate strategy, business development, project management, stakeholder engagement, and environmental and community sustainability. He has spent more than 15 years in the exploration, mining and energy sectors with Ivanhoe Mines, Rio Tinto, Peabody Energy, Duke Energy and LP Amina, including six years as executive vice president for the massive Oyu Tolgoi copper-gold project in Mongolia. Based in Charlotte, North Carolina, he has contributed to business results on significant gold, copper, iron ore and coal projects and operations in Asia, North America and Africa.

He is a director of Erdene Resource Development (TSX:ERD), which has discovered and is developing a high-grade gold district in southwestern Mongolia. He holds a BA from the University of North Carolina at Chapel Hill, an MA from the School for International Training, and an MA from the Fletcher School of Law and Diplomacy at Tufts University.

Kevin Filo, P. Geo.—Montcalm West Project Manager

Kevin Filo is an exploration geologist, mining geologist and project generator with more than 37 years of experience, including 30 years in Ontario’s Abitibi greenstone belt region. He is a former vice president on the team which acquired the Detour Gold Mine from Placer Dome, which is now one of the largest operating gold mines in Canada.

Derek McBride, P.Eng.—McBride Project Manager

Derek McBride possesses 40 years of professional experience as a geological engineer and structural and economic geologist. He is credited with discovering the Nugget Pond Gold Mine in Newfoundland, Canada, as well as the Reward Gold Deposit in New South Wales, Australia. A Toronto native, he holds with a Diploma of Mining Technology from the Haileybury School of Mines, B.Sc. and M.Sc. degrees in geological engineering from Queen’s University, and a Ph.D. in structural and economic geology from the University of New Brunswick.

Mark McMurdie—CFO

Mark McMurdie is a Chartered Professional Accountant (CPA:CMA) with more than 30 years of senior leadership experience in public and private companies. He is also chief financial officer for Roscan Minerals (TSXV:ROS), as well as director of finance for franchisor H&S Massage Spa Canada.

He possesses deep professional experience in the mining, franchising, oil and gas, merchant banking, distribution and real estate sectors. His expertise includes the development and leadership of corporate finance and accounting functions, strategic planning, and restructuring, as well as liaising with shareholders, boards of directors, securities regulators, and financial institutions.

Donald Whalen—Chairman of the Board, Independent Director

Donald Whalen has been a self-employed business consultant since 2009. From 1992-2008, he served as Executive Chairman and Director of TSX-listed High River Gold Mines. Together with fellow Pancon Gold Director, David Mosher, he succeeded in growing High River Gold from a small exploration company into a multi-mine, international gold producer with mines in Canada, West Africa and Russia. During this period, High River Gold’s market capitalization increased from C$7 million to more than C$1 billion. He has been active in promoting Canada-Russia business investment and trade relations. From 1998-2008 he was Chairman of the Canada Eurasia Russia Business Association (CERBA), and from 2005-2007 he represented Canada as co-chair of the Canada Russia Business Council.

Rick Mark—Independent Director

Rick Mark has more than 25 years experience in the public markets and has held leadership positions with various organizations over the last 40 years. During his tenure with public companies he has been responsible for: securing financings; developing short and long-term corporate goals; building cost-effective property development plans; creating effective communication platforms; and overseeing regulatory functions.

He is currently president and CEO, chair and director of Harvest Gold (TSXV:HVG). He was formerly president and CEO of VMS Ventures, which discovered the high-grade Reed copper deposit in Manitoba, now in production through a joint venture with Hudbay Mining. He was also chairman of North American Nickel, which has made a number of nickel discoveries in Greenland. He has led efforts to raise more than C$85 million in the last 12 years.

David Mosher—Independent Director, Technical Advisory Committee Member

David Mosher is a geologist and mining executive with more than 35 years experience in the United States, Canada, Australia, Russia, Africa and Asia. Over the past decade he has been active in the restructuring, financing and management of a number of mineral projects and mining companies, both private and public. He has served on many boards including Cambior and Equinox Minerals, and is currently a director of five public mineral exploration companies, including Pancon Gold.

From 1992 through 2008, he served as president and CEO of TSX-listed High River Gold Mines, where he raised more than US$300 million and developed three mines from exploration through to production in Canada, West Africa and Russia. He assisted with the expansion of two underground mines in Russia, and he outlined a 5 million ounce gold deposit in Burkina Faso, which subsequently became an operating mine. Under his leadership, High River Gold’s market capitalization increased from C$7 million to more than C$1 billion.

David Petroff—Independent Director

David Petroff brings substantial executive management experience with mining companies to the Pancon Gold Board. He served as president, CEO and director of Jaguar Mining from 2012-2014. He was president, CEO and director of Breakwater Resources from 2009-2011. From 2004-2008, he was executive vice president and chief financial officer of Centerra Gold, a spin-off from Cameco. He was chief financial officer and senior vice president, finance and administration for Cameco from 1997-2004.
His experience demonstrates his ability to step into challenging situations and provide leadership for creating and implementing strategies that lead to higher profitability, engaged employees, and overall improved business results.


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