Phase I - Initial Core Drill Results - 10/16/07

INITIAL CORE DRILL RESULTS FROM PAN AFRICAN’S TRANOMARO URANIUM PROJECT REVEAL HIGH-GRADE INTERSECTIONS TO DEPTH AT OLD FRENCH MINE 37, INCLUDING 5.0 M OF 7.31 LBS/T U 3 O 8

Results from the first five holes reported below show significant uraniferous mineralized zones encountered in all five holes and demonstrate the existence of high grade Uranium mineralization from surface outcroppings to levels far below the floor of the old open pit mined by the French.

The tables below show selected drill results from each of the first five holes completed during the current Phase 1 diamond drilling program, reflecting the most significant mineralized intervals encountered. The initial 5 drill holes were positioned at the western flank of old French Mine 37 and have been regularly spaced at 30m intervals in a N—S direction covering an extent of approximately 120m. This sequence of holes is to the South of shallow drill hole TR/M37D/B5-50E, previously reported on June 6, 2007, which yielded 17.2 metres of high-grade U mineralization grading 4,329 ppm U or 11.25 lbs/metric tonne U 3O 8 .

TABLE OF SELECTED DRILL RESULTS

Drill hole B0 40E E652587.00, N7282665.00; Azimuth: 70°, Inclination: 55°
Depth (m)		Interval (m)	U (ppm)	U 3O 8 (lbs/t)
From	To
34	45	11	557	1.45
59	62	3	462	1.20
71	75	4	676	1.76
80	81	1	950	2.47
Drill hole E0 35E E652591.00, N7282665.00; Azimuth: 70°, Inclination: 55°
7	13	6	1,403	3.65
36	47	5	740	1.92
61	64	3	697	1.81
67	72	5	456	1.19
74	79	5	1,359	3.53
Drill hole H0 35E E652595.00, N7282641.00; Azimuth: 70°, Inclination: 55°
49	54	5	2,811	7.31
Drill hole K0 20E E652591.50, N7282625.60; Azimuth: 70°, Inclination: 45°
11	14	3	499	1.30
46	50	4	1,206	3.13
56	62	6	1,003	2.61
Drill hole N0 10E E652603.50, N7282606.85; Azimuth: 70°, Inclination: 50°
32	36	4	579	1.51
41	47	6	825	2.15
63	66	3	730	1.90
73	77	4	561	1.46
89	91	2	594	1.54

Note: U 3O 8 values are expressed in lbs per metric tonne Intervals have not been resolved to true width

The results to date are very promising as they confirm the existence of significant intersections of high grade Uranium mineralization in all the holes reported, ranging to a depth of almost 90 meters. Nearly all such holes contained multiple intersections as reported. 30 meter spacing between holes was designed to demonstrate continuity of the mineralized zone at old French mine 37. Results are pending from another 5 holes which have been drilled in a southward extension of the above drill holes. Preliminary radiometric data from such holes and surface exploration suggests further expansion of the zone to the South potentially for 500m or more corresponding with the extent of the N-S trending pyroxenite strata which form a sizable lens. Drilling will also be carried out on highly prospective zones to the North and West. Down-dip extent is so far unknown, but the drilling program is directed not only at determining the horizontal extent of the mineralization but also the depth. Preliminary study suggests primary uranium mineralization is likely to be encountered at depths below 80m from the surface.

Old Mine 37 lies within an area of 3km x 8km, where much of our field work has been focused. This deposit could one day potentially be at the centre of a large scale regional mining operation (with centralized treatment plant) comprising multiple open pits, which is the target of the Company’s exploration and drilling activities in the Tranomaro area. Within the permits held by the Company, more than 100 old open pits and radiometric anomalies have been identified, which currently are subject of systematic exploration. Shallow scout drilling at old French Mines 52 and 52N, as well as old Mine 26, have already produced strong targets for our formal core drilling program at such sites.

The drill program now underway is being carried out by the Company on behalf of its Joint Venture with L’Office des Mines Nationales et des Industries Strategiques (“OMNIS”), a Malagasy State Agency. A heavy Atlas Copco CS-14 diamond drill rig is being utilized for the drill program. It is being furnished to the JV by OMNIS under a lease agreement develop targets for the current core drilling program. The program is being overseen by Dr. Reinhard Ramdohr, a Qualified Person within the meaning of N.I. 43-101. He is assisted by Marcel Rasolofonirina and a highly qualified team of Malagasy geo-techs. Overall program oversight is provided by Gregory B. Sparks, P.Eng., a Director of the Company and also a Qualified Person under N.I. 43-101.

Samples are analyzed by ALS Laboratory Group at its Vancouver, BC facility utilizing their Uranium Package Code #ME-MS61U, a 48 element near total digestion ICP procedure. Uranium over-limits for the foregoing procedure are re-analyzed using ALS procedure #U-XRF10. Sample preparation and assistance in establishing laboratory protocols and sample handling and assaying quality control are supervised by Ardito Martohardjono, Vice-President of Laboratory Services and a Director of the Company.

Phase I - Shallow Drilling Results - 06/06/07

PAN AFRICAN MINING CORP.’S SHALLOW DRILLING CONFIRMS EXTENSION BELOW SURFACE OF RICH URANIUM MINERALISATION AT TRANOMARO: 17.2 METERS @ 4,329 PPM U
(11.25 lbs/metric ton U 3 O 8 )

The first reconnaissance drill hole #TR/M37D/B5-50E, at old French Mine 37 on its Tranomaro Uranium Project, located in Southern Madagascar intersected 17.2 meters of high-grade U mineralisation grading 4,329 ppm (0.43 of 1%) U (11.25 lbs/metric ton U 3O 8). The initial drilling tested a North – South striking pyroxenite unit with minor accessory minerals, which prior surface sampling and mapping had suggested was likely to host high-grade uranothorianite mineralization below surface. The interval by interval assay results received from ALS Laboratory Group in Vancouver are presented in the table below.

Table of Selected Drilling Results

Drill Hole Survey Data

The Tranomaro Project is one of four Madagascar Uranium projects acquired by the Company through its 80% owned Malagasy subsidiary PAM Atomique Sarl., 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 totalling approximately 1287.5 sq.km. in the South of Madagascar. Uranium occurs in the region typically as uranothorianite in bands hosted in pyroxenite.

This shallow reconnaissance drilling program is a follow-up to the Company’s recent regional exploration program, which identified numerous surface U anomalies. The Company’s initial target is an area of approximately 3km by 8km, which embraces an area historically mined by the French through a series of small pits located on outcrops of the uraniferous strata along the trend. This initial drill hole is located in the Tranomaro area near the Northern end of the trend at old French Mine 37. The reconnaissance drilling program will continue Southward to “spot” test the prospective strata at shallow depths (generally 20 meters or less).

This initial shallow drilling program will be followed up with a systematic deeper drilling program to test down dip extensions of the zone. An Atlas-Copco CS-14 hydraulic core drill with capacity to drill HQ or NQ core to several hundred meters is currently being transported to site to commence this program shortly.

According to Irwin Olian, CEO of the Company, “We are delighted to see these exceptional high-grade results from our initial scout drilling at Tranomaro. They certainly tend to validate our geologic model for the region, which suggests rich uranium mineralization persists below surface at a number of sites where surface anomalies were mined by the French historically. We are now accelerating our scout drilling program as well as mobilising a big core rig with a view toward evaluating the tenor and magnitude of the regional deposits.”

Reconnaissance drilling is done utilizing an in-house drill crew with a small man-portable conventional core drill. Holes are continuously cored utilizing AW equipment. For hole #TR/M37D/B5-50E, the interval from 0.0 m to 0.3m, cuttings only were recovered for analysis. From 0.3m to total depth of 27.0m, core recovery was 95%.

After logging, the core is crushed to -2mm. The -2mm sample is then split with one split retained in archive. The remainder is pulverized to -75microns. A split of the pulp is then forwarded for assay to the ALS Laboratory Group – Vancouver, BC facility for analysis, with the remainder of the pulp also retained in archive. All sample prep is performed in the Company’s prep facility in Antananarivo, Madagascar. Industry standard QA/QC and security procedures are strictly adhered to with respect to sample handling and preparation.

Samples are analyzed by ALS Laboratory Group at its Vancouver, BC facility utilizing their Uranium Package Code #ME-MS61U, a 48 element near total digestion ICP procedure. Uranium over-limits for the foregoing procedure are re-analyzed using ALS procedure #U-XRF10.

The Uranium field exploration program is managed by highly-experienced German geologist Dr. Reinhard Ramdohr, assisted by Marcel Rasolofonirina and a highly qualified team of Malagasy geo-techs. Overall program oversight is provided by Gregory B. Sparks, P. Eng., a Director of the Company and a Qualified Person under NI 43-101. Sample preparation and assistance in establishing laboratory protocols and sample handling and assaying quality control are supervised by Ardito Martohardjono, Vice-President of Laboratory Services and a Director of the Company.

SURFACE SAMPLES CONFIRM HIGH-GRADE URANIUM ANOMALY AT OLD FRENCH MINE SITE 37 IN MADAGASCAR’S SOUTH

A total of five follow-up surface samples were analyzed, all returning uranium values in excess of 3000 ppm or greater than 0.3 of 1% U, with two of the samples in excess of 22,000 ppm or greater than 2.2% U. They confirmed the existence of a high-grade surface uranium anomaly at the old French site. Three surface rock samples from mine site 37 had been previously reported on February 6, 2007, as part of the regional sampling results. Surface radiometric readings were taken in the area over a grid with 20m. X 20m. spacing and generated results consistent with sampling. They confirmed a sizeable radiometric anomaly at surface with dimensions of approximately 250 m. NS and a width up to 40 m.

TABLE OF ASSAY RESULTS FROM ROCK SAMPLES AT MINE 37

Surface samples, rocks (from in situ outcrops) Results of sample analysis from ALS Chemex, no: VA07010592 Location : Mine 37
SAMPLE ID	ME-MS61U U ppm	ME-MS61U Th ppm	Ratio Th/U %
TR/37R/C5S 45E	3170	1750	0.55
TR/37R/DOS 45E	25900	8510	0.33
TR/37R/B6S 50E	7050	470	0.07
TR/37R/D8S 38E	22900	396	0.02
TR37/R/E5S 40E	5320	730	0.14

The results of follow-up sampling and radiometrics at old French mine site 37 clearly establish it as a high priority target for further exploration by the Company near-term. Systematic trenching across strike is being undertaken, together with other surface studies. It will be followed up by core drilling to investigate the grade and extent of down dip extensions of the high-grade uranium-bearing mineralization, which typically occurs at this location as uranothorianite hosted in North-South trending lineaments of pyroxenite. Mine site 37 is one of over fifty targets that have been identified for exploration in Madagascar’s South by the Company’s uranium team, which is being managed by Dr. Reinhard Ramdohr. Such targets include numerous known uranium occurrences, radiometric anomalies and old French open-pit workings.