Pancontinental Resources : The PUC Report - August 2022

THE PUC REPORT - AUGUST 2022

Brewer Gold & Copper Project

EXCEPTIONAL DRILL RESULTS TO DATE

TSXV: PUC / OTCQB: PUCCF

Dear Pancon Shareholders and Followers:

August 2nd, 2022

Warm summer greetings from the gorgeous Carolinas!

July was both a productive and positive month for Pancon. In early July we completed all field work of our large, 7-square kilometer dipole-dipole induced polarization (IP) geophysical survey, which covers most all of the 1,000-acre Brewer property and a significant portions of

our adjacent Jefferson Project properties. The IP survey data quality is good. Our geophysics contractor Géophysique TMC of Québec, Canada spent the rest of July processing the raw data and delivering preliminary analysis. Currently Pancon's consulting geophysicist, Craig Beasley, is working with TMC and Pancon's technical team on finalizing the analytical interpretation, which we expect to be completed in mid-August, including both 2D and 3D inversions.

It is important to note that this Pancon dipole-dipole IP survey is the most comprehensive geophysical survey conducted at Brewer ever, and allows us to "see" down approximately 250 meters below surface, which is especially useful for the large and complex Brewer system. Our geophysical interpretation and analysis should enhance our knowledge of existing priority drill targets, and should provide us with new drill targets. Our geophysics work will nicely set the stage for our next phase of drilling, for which we have a high level of confidence in more positive results.

Also in July, we announced strategically important news regarding agreement with the court-appointed Brewer Gold Receiver, Mr. Kelly Lowry, on a mechanism to extend the term of the Brewer Option Agreement through December 31, 2030. The table below explains this mechanism in terms of what is required to extend the Brewer Option for another nearly 8 and a half years from now. We are especially proud of the strong support and "license to operate" and we have earned and maintained with our key government stakeholders, namely the Brewer Gold Receiver, South Carolina's Department of Health and Environmental Control (SC DHEC), and the U.S. Environmental Protection Agency (EPA).

As per our July 12, 2022 news release, court-appointed Brewer Receiver Kelly Lowry stated: "It is my responsibility to oversee the Brewer

Cont'd on Page 2

	Gold	Copper	PUC.V
	(Au)	(Cu)
June 30, 2022	$1,806.67	$8,245.00	$0.045
July 31, 2022	$1,818.44	$7,850.50	$0.04
MoM $ Change (+/-)	$11.77	$394.50	$0.005
MoM (%)	+0.7%	-4.8%	-11.1%
YTD (%)	-0.04%	-19.0%	-61.9%

Gold & Copper Source: The London Metal Exchange

* Gold price per ounce/copper price per tonne; priced in US dollars.

PUC.V Source: TSX Venture Exchange

* Priced in Canadian dollars

INSIDE THE PUC REPORT

Gold & Copper Insights

• Month over month(MoM) & year to date (YTD) com- modity prices and charts

Industry News

• Hecla Mining acquires Alexco Resources
• Gold to remain relevant as hedging asset in H2 despite headwinds
• Copper production, price rebound on the horizon
• Does gold's value increase during recessions?
• Barrick sees lower prices for copper in Q2
• Net zero climate target could fail without more copper supply
• When Fed takes the punch bowl away, stick to gold
• Wall Street set for new ETF gold rush as single-stock era begins
• Barrick close to final deal with Pakistan on $7bn copper project
• Copper prices, company valuation multiples too low for sufficient supply response, analyst says
• Jetti Resources, UBC publish new study on the science of the "holy grail" of the copper industry
• Copper price rises as risk appetite returns
• • MORE INSIDE!

Copyright ©2022 Pancontinental Resources Corporation. All rights reserved.	August 2022

TSXV: PUC/ OTCQB: PUCCF

Dear Pancon Shareholders and Followers (Cont'd)

Gold property, including Pancon's activity, and to coordinate with SC DHEC and EPA, the two regulatory agencies currently responsible for remediation of the site. We recognize that responsible and successful minerals exploration requires adequate time. Pancon's professional and collaborative performance to date easily justifies extending the Brewer Option Period through 2030, provided Pancon meets its financial obligations. We all want Pancon to succeed at Brewer, as long as the Company continues to perform as it has so far and in conformance with all applicable laws, regulations and agreements."

Meantime, our technical team on the ground has been working for months, and continues to work, on collecting and analyzing new, quality geological and geochemical data from surface sampling at and around Brewer, as well as regionally on the Carolina Slate Belt. This low-cost,high-value data collection and analysis advances our overall database and knowledge, which will directly enhance our ability to effectively explore and achieve positive results for Pancon shareholders. In August we will continue integrating new geolog- ical, geochemical and geophysical data into our Brewer Discovery Model, empowering us to increase and improve the quality and quantity of our upcoming drill targets.

Thank you for your trust in Pancon. Despite market headwinds, we remain more confident than ever before in the exceptional potential of our flagship Brewer Gold & Copper Project, and in our Pancon Team, to deliver value to shareholders.

That's all for now!

~Layton Croft

Copyright ©2022 Pancontinental Resources Corporation. All rights reserved.	Page 2

TSXV: PUC/ OTCQB: PUCCF

Pancontinental Resources Corp. (TSXV: PUC / OTCQB: PUCCF), or Pan- con, has the exclusive option to explore and purchase the former Brewer Gold Mine property, which produced 178,000 ounces of oxide gold from open pits that extended to 65-meterdepths, where gold (Au) and copper (Cu) sulphides were exposed but could not be processed by the oxide heap leach operation.

Pancon controls almost 2,000 acres of mineral rights (the 100%-owned Jeffer- son Gold Project) nearly surrounding the ~1,000-acre Brewer property. The Brewer -Jefferson area of interest is 15 km along trend from the producing Haile Gold Mine, operated by OceanaGold Corporation.

As of October 1, 2021, Pancon has drilled more than 9,000 meters of: diamond core, rotary air blast (RAB), and sonic drill hole samples with exceptional drill results to date: higher grades within broad mineralization zones:

• Pancon's 17 diamond holes drilled to date include 12 holes with significant gold and copper values best inter- cept to date: 170 meters of 1.3 g/t Au including 10 meters of 8.2 g/t Au.
• Potential for additional gold-copper mineralization in breccia deposits located less than 300m below surface; a new mineralized zone discovered in hole 15 south of the former mine proves the potential.
• Evidence that a large copper porphyry heat engine is not far.

ABOUT PANCON

7 Great Holes

11 of 17 core holes contain GT values between "ENCOURAGING" to "EXCEPTIONAL"

Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)	Cu (%)	Au GT*
B20C-001			no significant values
B20C-002	120.60	134.10	13.50	0.85		-	11.48
B20C-003	1.50	25.85	24.35	0.41		-	9.98
B20C-004	104.00	182.00	78.00	1.17		0.23	91.26
B21C-005	64.90	233.87	168.97	1.30		0.28	219.66
B21C-006			no significant values
B21C-007			no significant values
B21C-008	93.50	152.50	59.00	1.72		0.43	101.48
B21C-009	154.55	170.50	15.95	1.09		0.22	17.39
B21C-010	81.95	106.50	24.55	1.20		-	29.46
B21C-011	166.86	192.10	25.24	0.96		0.21	24.23
B21C-012	58.50	74.00	15.50	0.90		-	13.95
B21C-013	51.15	86.00	34.85	0.41		-	14.29
B21C-014	56.90	179.00	122.10	0.27		-	32.97
B21C-015	46.00	100.00	54.00	1.13		0.17	61.02
B21C-016			no significant values
B21C-017			no significant values

*GT (Grade x Thickness) values between 10 to 25 are considered Encouraging; 25 to 50 are considered Good; 50 to 100 are considered Very Good and values over 100 are considered Exceptional.

New Discovery Model

Pancon's updated discovery model identifies the most prospective parts of the Brewer gold-copper system as seen on the figure below highlighting the alteration zones, known mineralization and new target areas:

Copyright ©2022 Pancontinental Resources Corporation. All rights reserved.	Page 3

TSXV: PUC/ OTCQB: PUCCF

Pancon Secures Right to Extend Brewer Option Period Through 2030

Toronto, Ontario, July 12, 2022: Pancontinental Resources Corporation (TSXV: PUC) (OTCQB: PUCCF) ("Pancon" or the "Company") has agreed with the Brewer Gold Receiver (Receiver) on a mechanism to extend the term of the Brewer Option Agreement through December 31, 2030.

Pancon President & CEO Layton Croft stated: "We thank the Receiver, South Carolina's Department of Health and Environmental Control (SC DHEC), and the U.S. Environmental Protection Agency (EPA) for continuing to support Pancon, and for reaffirming their belief in our ability to responsibly and successfully explore the Brewer Gold & Copper Project. We now have the opportunity to spend nearly 8 and a half more years to systematically build on our substantial progress to date. We are more confident than ever in our refreshed Brewer Discovery Model, which demonstrates that a significant zone of unoxidized gold-copper mineralization exists beneath the former pit, and that higher grade zones are associated with increased sulphide abundance focused within and along the diatreme margin. When we resume drilling, in addition to targeting these high grade feeder structures, we will target an additional breccia target to the south-southwest of the former mine, hosted within a NE-SW trending zone of favorably altered rocks."

Court-appointed Receiver Kelly Lowry stated: "It is my responsibility to oversee the Brewer Gold property, including Pancon's activity, and to coordinate with SC DHEC and EPA, the two regulatory agencies currently responsible for remediation of the site. We recognize that responsible and successful minerals exploration requires adequate time. Pancon's professional and collaborative performance to date easily justifies extending the Brewer Option Period through 2030, provided Pancon meets its financial obligations. We all want Pancon to succeed at Brewer, as long as the Company continues to perform as it has so far and in conformance with all applicable laws, regulations and agreements."

Pancon's exclusive Option to explore and purchase Brewer currently runs through December 31, 2024 on a no-cost basis. According to the July 11, 2022 Amendment to the Brewer Option Agreement, the Company agrees to pay up to US$1.4 million per year to extend the Option Period for each of 2025, 2026 and 2027 in order to cover the government's ongoing site management costs. To extend the Option Period through 2028, the Company must demonstrate it has spent at least US$9 million on exploration activities at Brewer since April 1, 2020, when the Option Period began, and pay up to US$1.5 million for the year. To extend the Option Period through each of 2029 and 2030, the Company must demonstrate it spent at least US$1.5 million on exploration activities at Brewer the previous calendar year, and also pay up to US$1.5 million per year.

Since Pancon began exploring the 1,000-acre Brewer property in May 2020, seven of the Company's 17 diamond drill holes returned significant gold-copper mineralization (see the "7 Great Holes in 7 Minutes" video here). Pancon's data-driven approach to exploring Brewer has also included: historic data review; mapping; geophysical surveys; rotary air blast (RAB), sonic, and core drilling; assay, mul- tielement geochemical, spectral, and petrographic analyses; and ongoing data compilation and modeling. This work included drilling and reporting lab results for more than 9,000 meters (m) of drill samples: core (5,000 m), RAB (3,900 m), and sonic (350 m). As a result of work to date, Pancon has updated its data driven Discovery Model that identifies the most prospective parts of the Brewer gold-copper system. Next steps include data analysis and interpretation of nearly-completeddipole-dipole induced polarization (IP) geophysical survey, followed by aggressive drilling.

In addition, further to the Company's press releases of April 19, 2022 and May 13, 2022, the Company completed a "best efforts" brokered private placement (the "Offering") through the issuance of 20,265,000 units (the "Units") in the capital of the Company at a price of $0.08 per Unit for gross proceeds of $1,621,200. Insiders of the Company subscribed for an aggregate of 1,400,000 Units pursuant to the Offering.

Qualified Person

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Patrick Quigley, MSc, CPG-12116, a Qualified Person as defined by NI 43-101.

About Pancon

Pancontinental Resources Corp. (TSXV: PUC) (OTCQB: PUCCF), or Pancon, is a Canadian junior mining company exploring the rich, underexplored Carolina Slate Belt in the southeastern USA. In January 2020, Pancon won the exclusive right to explore and purchase the former Brewer Gold Mine property, with an option period through October 2023. Between 1987-1995, Brewer produced 178,000 ounces of oxide gold from open pits that extended to 65-meter depths, where gold (Au) and copper (Cu) sulphides were exposed but could not be processed by the oxide heap leach operation. Pancon's 100%-owned,1,960-acre Jefferson Gold Project nearly completely surrounds the 1,000-acre Brewer property. The Brewer-Jefferson area of interest, in Chesterfield County, South Carolina, is 12 kilometers along trend from the producing Haile Gold Mine, which produced 190,000 ounces of gold in 2021 (www.oceanagold.com). Brewer is a large, epithermal, high sulphidation gold-copper system driven by a sub-volcanic intrusive, possibly connected to a large copper-gold porphyry system at depth.

For additional information please visit our new website at https://www.panconresources.comand our Twitter feed: @PanconResources.

Copyright ©2022 Pancontinental Resources Corporation. All rights reserved.	Page 4

TSXV: PUC/ OTCQB: PUCCF

PANCON'S LATESTS VIDEO		INDUSTRY NEWS

Don't forget to follow Pancon Resources YouTube Channelfor new content

or simply visit:

www.panconresources/investors/videos/.

7 Great Holes in 7 Minutes

May 5, 2022

The purpose of this video is to show why Pancon's team is so excited about its flagship Brewer Gold & Copper Project in South Carolina. Layton Croft explains that out of the the 17 holes drilled thus far, 12 contain significant gold and copper values. Of these 12 holes, 7 are great. That's a fantastic hit ratio for such an early-stage project!

Click on the image, or simply click here to view it.

Brewer's Analysts Site Visit

April 13, 2022

David Talbot (Red Cloud) and Don Blyth (Paradigm) join Layton Croft at a site visit at Brewer Gold and Copper Project, located in Chesterfield County, South Carolina.

Click on the image, or simply click here to view it.

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Gold to remain relevant as hedging asset in H2 despite headwinds

July 7, 2022

Copper production, price rebound on the horizon

July 8, 2022

Does gold's value increase during reces- sions?

July 11, 2022

Barrick sees lower prices for copper in Q2

July 14, 2022

Net zero climate target could fail without more copper supply

July 14, 2022

When Fed takes the punch bowl away, stick to gold

July 15, 2022

Wall Street set for new ETF gold rush as single-stock era begins

July 16, 2022

Gold price rebounds from near 11-month low as dollar retreats

July 18, 2022

Barrick close to final deal with Pakistan on $7bn copper project

July 18, 2022

Copper prices, company valuation multiples too low for sufficient supply response, analyst says

July 19, 2022

Jetti Resources, UBC publish new study on the science of the "holy grail" of the copper industry

July 20, 2022

Gold price recovers as European Central Bank raises rates higher than expected

July 21, 2022

Copper price rises as risk appetite returns

July 22, 2022

Gold price gains as investors weigh growth concerns; palladium price jumps

July 22, 2022

Copyright ©2022 Pancontinental Resources Corporation. All rights reserved.	Page 5