FOR IMMEDIATE RELEASE
July 30, 2007
TSX.V: PAF, FRANKFURT: P2A
PAN AFRICAN MINING CORP. AWARDED KEY Diamond EXPLORATION LICENCE
IN NAMIBIA
VANCOUVER, British Columbia ?
PAN AFRICAN MINING CORP. (the ?Company?) is pleased to announce that the Ministry of Mines and
Energy of Namibia has awarded Diamond Exploration Reconnaissance Licence (ERL)
106 in favour of the Company?s wholly-owned subsidiary, PAM Minerals Namibia
(Pty) Ltd. The initial licence has
a tenure of 6 months, during which time the Company has the opportunity to
identify the most prospective ground in the block for conversion to one or more
Exploration Prospecting Licences (EPLs), which are typically granted for a
period of up to three years.
ERL 106 covers an area of
approximately 10 000 km2, and is contiguous to Prospecting Licences
recently awarded to the company to the east in Botswana as first reported in the
Company?s Press Release of May 11, 2007.
The two areas of ground in Namibia and Botswana have
been acquired in order to investigate a group of bulls-eye magnetic and photo
features, closely comparable to those typical of kimberlite clusters, that
straddle the Namibian-Botswana border. The new Namibian licence thus
forms a logical extension of the Botswana project now
underway.
The Company?s Namibian and
Botswana licences are proximal to a major unexplained surface concentration of
kimberlitic minerals in the vicinity of the village of Tsumkwe in northeast
Namibia. These kimberlitic
minerals include diamonds and G10 garnets, both indicative of derivation from a
Diamond-bearing source. The
strategic location of the licences is underlined by an in-house reconstruction
of ancient drainage lines. This indicates that the Tsumkwe anomaly lies astride an ancient river
system, with headwaters to the east within the company?s Namibian and Botswana
licences, and provides encouragement that the primary kimberlite source of these
minerals is to be found within these licences.
Aeromagnetic data acquired
from the Geological Survey of Namibia, together with remote sensing images, will
be coupled with exploration data generated in Botswana to delimit areas for
future conversion of ERL 106 to longer tenure EPLs. This will permit finalization of targets
within the Namibian licence area for follow-up ground sampling, additional
geophysics and drilling. The Company?s Diamond exploration in Namibia will be
overseen by Dr. Andy Moore, V.P Exploration ? Diamonds, and Senior Consulting
Geologist Pete Siegfried, M. Sc., both of whom are Qualified Persons.
According to Irwin Olian,
CEO of the Company, ?We are delighted that our Reconnaissance Exploration
Licence is now in place in Namibia, as this is an important adjunct to our
Diamond exploration program now underway in Botswana. The political stability of
Namibia coupled with its
long, positive mining culture create a very favourable environment for expansion
of our Diamond program and we are looking forward to working in
Namibia.?
About Pan African Mining
Corp.
The Company is an
exploratory resource company with approximately 7,500 sq. km. of diversified
mineral properties and 5,000 sq. km. 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 large regions for gold and metals in Mozambique under agreements with other
companies. It also has approximately 5500 sq. km. of Diamond licenses in Botswana which it is presently exploring. 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: