Panther Metals Regulatory News (PALM)

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PANTHER METALS PLC

("Panther" or the "Company")

(Incorporated in the Isle of Man with company number 009753V)

2 April 2025

Dotted Lake: Soil Geochemical Grid Processing

Gridded Combined Soil Datasets Reveal Highly Prospective Trends

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada, is very pleased to announce the processed results of the combined 2024 and 2021 soil geochemical survey dataset (the "Soil Survey") at the Dotted Lake Project ("Dotted Lake" or the "Project"), on the north limb of the Schreiber-Hemlo Greenstone Belt in Ontario, Canada.

Darren Hazelwood, CEO, commented:

"Our combined soil data for Dotted Lake has yielded valuable insights, with clustering analysis revealing well-defined geochemical trends that enhance our understanding of the mineralisation footprint and point to as yet untested bedrock source targets. The intensity of the various commodities in the soil correlates very positively with our geological model and aligns favourably with soil signature levels which have led to significant mineralisation discoveries within close proximity to our Dotted Lake Project.

This systematic exploration data driven approach is providing a clear pathway for next steps, and the results to date reinforce the Project's potential. With third-party data sharing in place for several months, we have been carefully managing and analysing the technical information to maximise its strategic value. We are encouraged by the progress and look forward to advancing towards the next phase."

The combined gridded 1,472 assay dataset provides high-resolution soil survey coverage to 6.0km strike length on the north shore of Dotted Lake. The combined dataset is derived from soil sampling conducted on behalf of Panther by Bayside Geoscience during 2024 (reported 13 March 2025) and by Fladgate Exploration during 2021 (reported 9 November 2021).1,2

The gridded soil assay data has returned highly anomalous standout gold and critical mineral geochemical trends and anomalies, including major structurally controlled sub-parallel gold trends which merge on the western north-shore of Dotted Lake (Figure 1), a 5km long nickel trend (Figure 2) with coincident cobalt and chromium.

Strong base metal trends are also apparent, a 3.5km long zinc anomaly stretches across the northern boundary of the combined survey area (Figure 3), whilst distinct copper zones (Figure 4) correlate well with multielement anomalies including the zinc and nickel.

Highly anomalous soil assays range up to 1,665 ppm copper, 480 ppm nickel, 63 ppm cobalt, 432 ppm zinc, 0.99 ppm silver and 377 ppb gold (Table 1).

Table 1: Highest Three Soil Assay Results for Selected Elements (Combined Data)

Table notes: Soil assay results by ALS Laboratories analytical method ME-MS41L. Limit of detection (LOD) = lower limit of stated method. ppm = parts per million. ppb = parts per billion. 1 ppm = 1,000 ppb. Results subject to rounding.

A presentation with a series of maps depicting the gridded soil anomalies is available to view on the Company's website at www.panthermetals.com .

Maps showing select gold, nickel, zinc and copper grids are shown below, further maps are available in the above linked presentation.

Figure 1: Structurally Controlled Gold Trends Merge South of Lampson Lake

Figure 2: Significant Nickel Anomalies Trend Right Across the Survey Area

Figure 3: Anomalous Zinc Trend Exceeds 3.5km In North of Survey Area

Figure 4: Distinct Copper Anomalies Correlate with Multielement Anomalies Including Nickel and Zinc

Soil Survey Programme Details

In 2024 Bayside Geoscience Inc. ("Bayside") was contracted to extend and provide infill over the 2021 soil survey grid which was conducted for Panther by Fladgate Exploration ("Fladgate"). Each survey produced multiple significant nickel (Ni), cobalt (Co), copper (Cu), gold (Au) and platinum group element ("PGE") anomalies.1, 2

Following the announcement of the Bayside soil sampling results on 13 March 2025, the Company has combined and processed a total of 1,472 soil results which were collected at 25m sample spacing on 100m or 50m spaced grid lines. Sample analysis for a suite of 53 elements was undertaken by ALS Laboratories (Vancouver) using the ME-MS41L Multi-Element Super Trace method which is considered ideal for exploration in soils or sediments. The combined and gridded survey dataset has significantly extended anomaly trends up to 6km in strike length.

References

1: Company announcement, Soil Survey Significantly Enhances Targets, Soil Assay Results Delineate Strong Multielement Trends on Dotted Lake North Shore, dated 13 March 2025

( https://polaris.brighterir.com/public/panther_metals/news/rns/story/xj2k8gr )

2: Company announcement, Dotted Lake - Soil Sampling Survey Results, dated 9 November 2021

( https://polaris.brighterir.com/public/panther_metals/news/rns/story/x57m0pw )

For further information please contact:

Panther Metals PLC:

Darren Hazelwood, Chief Executive Officer: +44(0) 1462 429 743

+44(0) 7971 957 685

Brokers:

Tavira Financial Limited

Christopher James Kipling +44(0) 203 833 3743

SI Capital Limited

Nick Emerson +44(0) 1438 416 500

Notes to Editors

Panther Metals PLC is an exploration company listed on the main market of the London Stock Exchange. Panther is focussed on the discovery of commercially viable mineral deposits. The Company's operational focus is on established mining jurisdictions with the capacity for project scalability. Drill targets are assessed rapidly utilising a combination of advanced technologies and extensive geological data to decipher potential commercial viability and act accordingly. Panther's current geological portfolio comprises of three highly prospective properties in Ontario, Canada.

Obonga Project

Panther Metals acquired the Obonga Greenstone Belt in July 2021 and have already identified five prospective primary targets: Wishbone, Awkward, Survey, Ottertooth and Silver Rim. A successful Phase 1 drilling campaign at Wishbone in Autumn 2021 revealed the presence of significant VMS-style mineralised systems on the property - the first such discovery across the entire greenstone belt. Intercepts include 27.3m of massive sulphide in hole one, and 51m of sulphide-dominated mineralisation in hole two. Both drill holes contained multiple lenses. Anomalous high-grade copper in lake sediment close to the target area has also been identified, increasing confidence in the prospectivity of the location.

Awkward is a highly anomalous magnetic target, interpreted to be a layered mafic intrusion and magmatic conduit based on mapped geology and airborne geophysics. Historic sampling in the area returned anomalous platinum and palladium (Pt, Pd) values, while historic drilling on the periphery of the target intersected non-assayed massive sulphide and copper (assumed to be chalcopyrite), non-assayed disseminated pyrite and chalcopyrite in coarse gabbro, and non-assayed 'marble cake' gabbro (matching the description of the Lac des Iles Mine varitexture gabbro ore zone).

Two additional named targets, Survey and Ottertooth, both displays further coincident magnetic and electromagnetic anomalies and are adjacent to the contact between intrusive and extrusive mafic rocks. Historic drilling at Survey intersected several meters of massive sulphides in multiple intersections (main parts of the anomaly remain untested) while Ottertooth remains untested in its entirety.

Dotted Lake Project

Panther Metals acquired the Dotted Lake Project in July 2020, it is situated approximately 16km from Barrick Gold's renowned Hemlo Gold Mine. An extensive soil programme conducted in 2021 identified numerous gold and base metal targets, all within the same geological footprint. Following the installation of a new trail providing direct access to the target location, an initial drilling programme in Autumn 2021 confirmed the presence of gold mineralisation within this system with anomalous gold continuing along strike and present within the surrounding area.

Fulcrum Metals Plc

Fulcrum Metals PLC (LON: FMET) is an AIM listed exploration company which finances and manages exploration projects focused on Canada, widely recognised as a top mining jurisdiction.

Fulcrum's strategy is to focus on discovery and commercialisation of its Projects through targeted exploration programmes. The primary focus is to make an economic discovery on the flagship Schreiber-Hemlo Properties and establishing the prospectivity of its wider Ontario and Saskatchewan portfolio with a view to securing potential joint venture and/or acquisition interest.

Panther Metals Plc own 12.38% of the issued share capital of Fulcrum Metals Plc and a 2% NSR on the Big Bear project.

Conclusion

Panther Metals understand that the commercial realities of building an exploration company requires expertise in geology, finance, and the markets within which they operate. The Company's extensive network of industry leaders allows it to meet these objectives. Ultimately however, drilling success is the only route to discovery: the fundamental objective of any exploration company. Once Panther's world-class geological team identify the anomalies, they work hard to get drilling. The drill hole is the only place where substantial and sustained capital growth originates and it's with that operational focus Panther Metals will continue to advance.