Pan Asia: TCM north drilling completed

(31 July 2012)-- Pan Asia Corporation Ltd is pleased to announce the completion of the Phase 4 Drilling Programme in the north of the Transcoal Minergy (TCM) project concession.

Following the last drilling update on 12 June 2012, a further 3 holes have been drilled to complete the Phase 4 drilling programme. All holes in the programme have intersected the target coal seams as expected. All holes have been surveyed, geophysically logged and cored through the target seams to obtain coal quality data, with the quality results of the last 2 holes expected within the next 3 weeks. Geological interpretation of the intersected coal in the last 2 holes conforms to the known coal formation. Coal quality is expected to be in line with all quality data obtained to date.

An update to the market on economic mineralisation will be made once all coal quality analysis is received. A further update will be provided on completion of the re-optimisation of the mine design which will be updated in the Feasibility Study.

Company CEO Alan Hopkins said ?A terrific result. We now look forward to obtaining the updated JORC and also the effect of the nearby holes on the current mine design.? (ends)