ENOVA MINING LIMITED — Capital/Financing Update 2015

Jan 14, 2015

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15[th] January 2015

Company Announcements Office Australian Stock Exchange Limited 4[th] Floor 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

PANCONTINENTAL AGREE TO SELL ITS INTEREST IN JOINT VENTURE

Crossland’s current JV partner Pancontinental Uranium Corporation has entered into an agreement to sell its joint venture interest to Essential Mining Resources Pty Ltd (EMR). EMR is a private Australian-based company which is 100%-owned by EMMCO Mining Sdn Bhd (“EMMCO”), a private Malaysian company held beneficially by a consortium of South East Asian investors.

The relevant details and terms of this agreement are in the attached release made by Pancontinental to the Canadian market.

Progress on the project has been stalled since the second half of 2013, pending adequate funding and Crossland looks forward to a successful completion of the due diligence, and to working with EMR to progress the Charley Creek Alluvial REE Project. The market will be kept informed of the plans of the rejuvenated joint venture.

Yours sincerely

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R Richardson Chairman

C R O S S LAND S TATEG IC METALS LIMITED ABN 64 087 595 980 PHONE: +61 8 89815911 FACSIMILE: +61 8 89411364 EMAIL: admin@crosslandstrategic.com ADDRESS: Unit 8, Raffles Plaza, 1 Buffalo Court, Darwin 0800, NT; GPO Box 2437, Darwin, 0801, NT, AUSTRALIA

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365 Bay St, Suite 400 Toronto, Ontario M5H 2V1

PANCON TO SELL ITS INTEREST IN THE CROSSLAND JOINT VENTURE

NOT FOR DISSEMINATION INTO THE USA

Toronto, Ontario, January 15, 2015 . Pancontinental Uranium Corporation (TSX-V: PUC) (“ Pancon ” or the “ Company ”) is pleased to announce that it has entered into a definitive purchase and sale agreement (the “ PSA ”) with Essential Mining Resources PTY Ltd. (“ EMR ” or the “ Purchaser ”) that provides for the sale of the Company’s entire interest (43.72%) in the Joint Venture (the “ JV ”) with Crossland Strategic Metals Limited (“ Crossland ”) of Australia. The JV holds the extensive Charley Creek rare earth element (REE) project as well as a number of prospective uranium properties in the Northern Territory of Australia.

The PSA provides for the following consideration for Pancon:

• 1. Cash payments totaling AUD $2,550,000, which includes a deposit of AUD $450,000; and
• 1. A Gross Overriding Royalty of one percent (1%) on sales of production from 100% of the property.

Closing of the PSA transaction includes the following conditions:

• 1. Completion of due diligence by the Purchaser;
• 1. Receipt of approvals pursuant to the Mineral Titles Act of the Northern Territory, Australia;
• 1. Shareholder and regulatory approvals; and
• 1. Satisfying and discharging all liabilities and expenses with respect to Pancon’s interest in the JV, which includes a payment to Crossland of approximately AUD $164,000.

Subject to closing conditions being satisfied, closing is expected to occur in June 2015 or possibly earlier.

EMR is a private Australian-based company which is 100%-owned by EMMCO Mining Sdn Bhd (“ EMMCO ”), a private Malaysian company beneficially held by a consortium of South East Asian investors.

Pancon President and CEO Rick Mark states “This transaction enables Pancon shareholders to capitalize on our exploration success at Charley Creek; it provides the Company with a cash injection and the ability to benefit from all future production. This sale has been accomplished in a very difficult mining market and allows the Company to pursue other opportunities immediately”.

Pancon has tentatively set a meeting date of March 13, 2015 for shareholders to approve the transaction, however, Pancon intends to obtain sufficient written consent from shareholders, eliminating the need for a shareholder meeting.

About Pancontinental Uranium Corporation

Pancontinental Uranium Corporation is a Canadian-based company focused on rare earth elements (REE) and uranium discovery and development. Through a joint venture with Crossland Strategic Metals Limited of Australia, the combined management and operating team has unparalleled experience from exploration, through development to operations. Pancon and Crossland hold an impressive REE and

uranium exploration portfolio with projects in prolific, mining friendly districts in NT, Australia. Exploration has primarily occurred on two projects, known as Charley Creek and Chilling.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark President & CEO

For further information, please contact:

Rick Mark President and CEO

Tel: 416 293 8437 Fax: 416 293 3957

or visit our website at www.Panconu.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Language and Forward Looking Statements

This press release may contain “forward-looking statements”, which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure documents filed from time to time with the Canadian securities authorities.