FOR IMMEDIATE
RELEASE
May 22,
2007
TSX.V: PAF FRANKFURT: P2A
43-101 REPORT CONFIRMS URANIUM POTENTIAL
AT PAN AFRICAN MINING CORP.’S TRANOMARO
PROJECT IN MADAGASCAR; EXPLORATION
ACCELERATING
VANCOUVER, British
Columbia –
PAN AFRICAN MINING
CORP. (the “Company”) is
pleased to announce that it has now received its
independent Technical Report in accordance with
National Instrument 43-101 on proposed exploration
of the Tranomaro Project in
Madagascar. The Report has been
prepared by Dr. Peter A. Christopher, P.Eng., an
independent qualified person, of Vancouver-based
PAC Geological Consulting
Inc.
The
Tranomaro Project is one of four Madagascar
Uranium projects acquired by the Company through
its 80% owned Malagasy subsidiary PAM Atomique
Sarl (“PAMA”), under its Joint Venture
with L’Office des Mines Nationales et des
Industries Strategiques (“OMNIS”), a
Malagasy State Agency. It
comprises 206 carres under tenure totaling
approximately 1287.5 sq. km. in the South of
Madagascar. Uranium occurs in
the region typically as uranothorianite in bands
hosted in pyroxenite.
Work
undertaken in connection with the Report verified
the presence and intensity of good grade U
mineralization in the region and samples checked
previous PAMA results indicating strong U values
reaching 4000 ppm. (0.4 of 1%) and
higher. A site examination of
old French Mine 37 which included sampling as well
as radiometric readings confirmed the elevated
uranium and thorium values reported by the Company
there. The Report notes that
“The initial exploration by PAMA has
indicated that previous exploitation removed only
the near surface higher grade zones of numerous
mineralized zones in the Tranomaro area.” It
concludes that “An excellent possibility
exists that a number of the old mines contain
significant tonnages of lower grade but presently
economic
mineralization.”
Exploration
at the Tranomaro project is now accelerating.
Shallow scout drilling, sampling, trenching and
radiometrics are ongoing. Construction of a
semi-permanent work camp for 30 professionals is
nearly complete. A large Atlas
Copco CS-14 drill rig is now being moved onto the
property in order to undertake deeper core
drilling with approximately 5000 meters of NQ
drilling anticipated for Phase 1, with holes
averaging about 100 meters. Shallow scout drilling
with small portable rigs is being utilized to
evaluate the old French pits and other anomalies
with a view toward identification and
prioritization of targets for the NQ core
drilling. The Report has
recommended a $1.8 Million Phase 1 Program
incorporating the above elements.
Field exploration is being overseen by Dr.
Reinhard Ramdohr, with overall project supervision
by Gregory Sparks, P.Eng., a qualified
person.
About Pan
African
The Company is an exploratory resource
company with approximately 7,500 square kilometres
of diversified mineral properties and 5,000 square
kilometres of uranium properties in Madagascar.
The Company is exploring these properties for
uranium, gold, coal, precious stones, base metals
and industrial commodities. In addition, the Company is
exploring two regions for gold and metals in
Mozambique under agreements with other
companies. Its operations in
Madagascar are carried out through its operating
subsidiary, PAM Madagascar Sarl, and its uranium
activities are carried out through its 80% owned
subsidiary PAM Atomique Sarl. The Company
has offices in Vancouver, Canada and Antananarivo,
Madagascar. More information about the Company is
available at www.panafrican.com.
ON BEHALF OF THE BOARD OF
DIRECTORS OF
PAN AFRICAN
MINING CORP.
“Irwin
Olian”
Irwin Olian
Chairman &
CEO
For more information,
contact: