Pancon Gold Appoints Vice President Corporate Development and Launches New Website

Toronto, Ontario--(Newsfile Corp. - January 26, 2017) - The Board of Directors of Pancontinental Gold Corporation (TSXV: PUC) ("Pancon Gold", "Pancon" or the "Company") is pleased to announce the appointment of Mr. Layton Croft as the Company's Vice President, Corporate Development. Mr. Croft's appointment is a further step in achieving the Company's goal of becoming a leading gold exploration and mine development company, focused on the Carolina mineral belt in the southeastern United States.

Mr. Croft has more than 25 years of leadership experience in corporate strategy, project management, business development, stakeholder engagement as well as community and environmental sustainability. He has spent more than 15 years in senior roles in the minerals exploration, mining and energy sectors, including six years as Executive Vice President for Ivanhoe Mines' massive Oyu Tolgoi copper-gold project in Mongolia. Originally from and currently residing in Charlotte, North Carolina, Mr. Croft has contributed to business results on gold, copper, iron ore and coal projects and operations in Asia, North America and Africa, with companies including Rio Tinto, Peabody Energy and Duke Energy.

In addition, Layton is a Director of Canadian junior Erdene Resource Development, which has discovered and is developing a significant high-grade gold district in southwestern Mongolia. As well, he is a Director of Asia-Pacific Investment Partners, a frontier and emerging market real estate company. Layton 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.

Pancon Gold Chairman, Don Whalen, said: "Layton started consulting with Pancon on a range of corporate development priorities in 2016. Now is the right time for us to elevate his role and take advantage of his exceptional skill set in order to achieve our commercial goals and create lasting value for our shareholders and our stakeholders. Layton brings deep knowledge and a broad range of executive-level skills that perfectly complement Pancon's world-class technical team. I am confident that our flagship Jefferson Gold Project in South Carolina will continue to evolve as a high-potential area for new gold discoveries. Layton's leadership, vision and ability to develop and execute plans and achieve business objectives will greatly strengthen Pancon's corporate outlook as we continue to grow the Company."

Pancon is also announcing the launch of its new website: www.pancongold.com. This is an important development as the Company expands its ability to communicate with and engage stakeholders, shareholders and the investment community. The new website will evolve to become a user-friendly, mobile source of information and multimedia content, as well as a platform for Pancon Gold social media outlets.

In addition to the above, Pancon recently granted 100,000 stock options to a senior consulting geologist who is overseeing the Company's drill program at the Jefferson Gold Project.

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 in southeastern United States. 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.pancongold.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.