Pan Asia Corporation Limited Appointed Palaris as Advisor on TCM Coal Project

08:26 AEST June 24, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.

Perth, Australia (ABN Newswire) - Pan Asia Corporation Limited (ASX: PZC) is pleased to announce that it has appointed Palaris Mining Pty Ltd ('Palaris') as its independent adviser to PZC's flagship underground TCM Coal Project in South Kalimantan, Indonesia ('TCM Coal Project').

Palaris is an Australian company that has extensive experience in providing specialist longwall underground mining consultancy services on major capital procurement projects to the coal industry.

Information on Palaris and their expertise can be found on the Palaris website at http://www.palaris.com.au

CEO Alan Hopkins said that the appointment of Palaris is timely given PZC has now commenced its next phase of drilling and is rapidly moving towards a Full Feasibility Study on the TCM Project

PZC earlier this month announced the positive results of its Independent Study conducted by KOPEX (WAR: KPX) at the 75% owned TCM Coal Project. The Independent Study is targeting 1.5 million saleable tonnes per annum over a 15 year period (following initial construction).

The TCM Coal project has current resources for the TCM concession area, dated 31 January 2011 stated as 53,237,303 tonnes, comprising 22,418,736 tonnes of Indicated Coal Resources and 30,818,567 tonnes of Inferred Coal Resources. The quality of coal has an average calorific value (adb) of 6534 Kcal/kg, moisture 5.65%, ash 14.24% and TS 1.16.


Competent Persons' Statement

The information in this release that relates to the Coal Resources of PT. Transcoal Minergy ('TCM') is based on information compiled and reviewed by Mr. Marek Rosa, who is a Member of the Australasian Institute of Mining and Metallurgy (The AusIMM) and works full time for PT Kopex Mining Contractors based in Jakarta, Indonesia (Member of Kopex Group Poland).

Mr Rosa is a qualified geologist who has more than 20 years of relevant mining and geological experience in coal, working for major mining companies in Poland (17 years) and in Indonesia (4 years) as a consultant. He has National Polish geological license No II-1140 for research, exploration, resource and reserve estimation of deposits of basic minerals and coalbed gas methane. During this time he has either managed or contributed significantly to numerous mining studies related to the estimation, assessment, evaluation and economic extraction of coal in Poland and Indonesia. He has sufficient experience which is relevant to the style and type of deposit under consideration especially for Underground Mining and to the activity he is undertaking to qualify him as a Competent Person for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

The estimates of Coal Resources have been carried out in accordance with the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (December,2004) and Mr Rosa consents to the inclusion in this release of the Mineral Resources in the form and content in which it appears.

'The Kopex Group offers comprehensive solutions for underground mining. It is a respected and acknowledged manufacturer and supplier of high-class machinery and equipment as well as modern mining technologies and specialist underground mining consultancy works. The Kopex Group comprises over 50 companies worldwide whose activities are complementary to each other during project execution. Kopex is listed on the Warsaw Stock Exchange.
Kopex Mining Contractors has provided an initial geological assessment of the resource and has the ability to complete conceptual, pre feasibility/feasibility studies and underground mine design through to provision of all mining equipment, underground mine construction and operation.'


About Pan Asia Corporation Limited:

Pan Asia Corporation Limited (ASX: PZC) is a rapidly growing resource company listed on the Australian Securities Exchange with offices in Perth, Sydney, and Jakarta.

The Company aims to be a major supplier of key resources into the expanding Asian markets and has a balanced mix of thermal coal assets in Indonesia including:

1) A Flagship Pre Development project that has a JORC resource in South Kalimantan (TCM)

2) A Flagship Exploration project that has large tonnage potential (BCKP)

3) Cashflow from production via its financing and offtake arrangements of projects in East Kalimantan with Ranrich

4) A Pipeline of other project opportunities covering each of the above categories.

The evaluation and development of the current projects, in addition to the many new opportunities arising from a strong local partner network, will be the foundation for the Company's aim to become a significant supplier of key resources to the growing Asian markets over the coming years.

Pan Asia brings together an experienced Board and management team with a proven track record in the identification, funding and development of resources projects around the world.



Contact:

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