Toronto, Ontario--(Newsfile Corp. - September 11, 2018) - Pancontinental Resources Corporation (TSXV: PUC) ("Pancon" or the "Company") hosted its first public McBride Project Community Information Session at the Limerick Township Community Centre on Sunday, September 9th. The consultative event lasted almost four hours and was attended by more than 200 local residents and cottage owners from Hastings County in southeast Ontario.
Pancon President and CEO Layton Croft provided information about the Company and the current exploration Project. He moderated a lively and sometimes emotional discussion that included criticisms, questions and comments on mining, as well as recommendations and requests. Many participants expressed their opposition to the exploration project due to potential environmental issues and concerns to human health and wildlife should a mine ever be developed. Local residents, representatives and members of local associations including the Alderville First Nation and the Anishinabek Nation, Limerick Area Conservation Coalition, Steenburg Lake Association, Shawano Ratepayers Incorporated, Mining Watch Canada, as well as local media from Bancroft and Peterborough, participated.
Croft and seven of his Pancon and McBride Project colleagues listened carefully to all comments and concerns. Croft explained that the Project under Pancon's leadership, which commenced in May 2018, has not completed any field work impacting surface land, soils or water sources. Line cutting to re-establish the historic grid by prior operators, geological mapping and soil sampling have been the only field work conducted to date. No earthworks, trenching or drilling has yet taken place. Croft apologized to those land owners and residents who expressed frustration with how the Project has been managed to date, including apologizing for one instance where the Project's contracted line cutter accidentally encroached on private lands outside the Project boundary.
"Our first community information session and public consultation had a significant impact on me personally, and on our team's strategic planning for the Project moving forward," Croft said. "Pancon's Community Relations Policy is based on the principles of honesty, empathy, accountability, respect, transparency, and trust. Our September 9th event showed me and our team, first-hand, that we have a lot of work yet to do to earn and maintain the trust and social license of our local community and stakeholders. Listening and responding to our stakeholders, in addition to our shareholders, is my promise. I am confident that, under Pancon's leadership, this mineral exploration project can and will perform with robust environmental stewardship, stimulate local job creation, provide economic benefits, and foster healthy, productive stakeholder relationships. This Project was discovered in the 1960s and subject to earlier exploration by Macassa and Long Lac Minerals, who drilled 100 drill holes to establish the historical resource referred to in our news release dated April 26, 2018. We are exploring minerals in support of clean technologies and a green economy. It is our intention to complete our ongoing exploration work in an environmentally sensitive and socially responsible manner."
Croft continued: "As a result of our recent consultative meeting, I have decided to delay field work, including trenching and drilling, until our external environmental consultants have commenced our Participatory Environmental Baseline Study and provided an Environmental Management Plan to move the project forward, which will be made public once completed."
Pancon recently contracted environmental consultants Grace and Associates Inc., a geological and environmental consulting firm based in Lindsay, Ontario, as independent experts to lead and advise on the Project's environmental management plan and baseline study.
About Pancontinental Resources Corporation
Pancontinental Resources Corporation (TSXV: PUC) is a Canadian-based mining company focused on exploring and developing 4 nickel-cobalt-copper projects in Ontario — the advanced stage McBride Project near Bancroft and three early stage projects near Timmins: Montcalm Project, Gambler Project, and Nova Project. Pancon's strategy is to create value from prospective assets in areas with existing resources and/or in proximity to producing or former mines. The Company also holds a 100% interest in the Jefferson Gold Project in South Carolina, USA. 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 REE production.
For further information, please contact:
Layton Croft, President & CEO or Jeanny So, Manager, External Relations
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.