PVX

Pantheon Ventures Ltd. ("Pantheon" or the "Company")(TSX VENTURE:PVX), is
pleased to announce that it has commenced work on its Kokoko Property located in
Chambers Township, Temagami, Ontario Canada.


The work program consists of ground line-cutting to extend existing geotechnical
grids in the Ferrim Lake area as well as a new unexplored area, north and west
of Tasse and Nellen Lakes. Additionally, the program will consist of ground
geophysical surveying that includes: Magnetometer (walk mag), VLF-EM (very low
frequency) and HLEM (Horizontal Loop Electromagnetics) electromagnetic surveying
techniques.


The earliest record of drilling on the property was in the 1950's with Dominion
Gulf drilling 4 holes in 1954 for about 1,000 metres. Canadian Astoria Minerals
then drilled four shallow holes in the centre of the property in 1956 followed
by Goldray Mines drilling 500 metres in three drill holes in 1963 in the
northwestern reaches of the Property. The most significant drill program on the
Property was conducted by Falconbridge in 1996 and 1998. 


Falconbridge drilled a total of ten diamond drill holes focused along the
southern third of the property. Falconbridge intersected significant zones of
sulphide mineralization hosting copper, iron and nickel +/- silver and gold. The
sulphur percentage appears to be an important factor to mineralization,
especially for nickel as shown in the historical drill hole CHA-06. The
highlights of the historical data was sulphur measuring up to 48.6% in CHA-03,
iron oxides (Fe2O3) measured as high as 24.19% in a sample in drill hole CHA-01
and finally the most prospective copper sample was in CHA-03 at 14.40%. All of
these values are historical and are not considered compliant with regards to NI
43-101. 


Also of interest on the Property is the R.A. Gilson mineral occurrence. This is
documented to contain base metal, especially lead and zinc in a semi-massive to
massive sulphide zone that was accompanied by a significant quartz vein system.
Gold was also observed in this occurrence.


About the Company

The Company is engaged in the business of mineral exploration in Ontario. Its
objective is to locate and develop economic precious and base metals properties
of merit and to conduct its exploration program on the Kokoko Property. The
Kokoko Property is comprised of 14 mineral claims located in the Sudbury Mining
Division, Ontario.


Qualified Person

The technical content of this press release has been reviewed and accepted by
Thomas Clarke, Pr.Sci.Nat., a Director of Pantheon. Mr. Clarke is a Qualified
Person under NI 43-101.


ON BEHALF OF THE BOARD 

PANTHEON VENTURES LTD.

Mitchell Adam, President and Director

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