Pan Asia Corporation Limited (ASX:PZC) Clarification of Potential Open Pit at TCM Project

Perth, Aug 30, 2011 AEST (ABN Newswire) - Further to the Pan Asia Corporation Limited's (ASX:PZC) announcement of 23 August 2011 "Results confirm potential of Open Pit Area at TCM Project", the Company would like to clarify that the ~3 million tonnes of coal contained within the existing JORC resource that are potentially open pittable, are all of Indicated category.

The Company has further commissioned a LIDAR topographic survey and the results of this are expected within 4 weeks. These results, along with detailed open pit optimisations, sensitivity analysis & preliminary pit designs should enable the resource category to be further upgraded. Similarly, when the entire current drill programme is completed, an upgraded JORC resource for both the underground and open pit areas will be calculated and advised.

Contact

Alan Hopkins Chief Executive Officer Pan Asia Corporation Ltd Tel: +61-8-9381-5819 http://www.panasiacorp.com.au