Panthera Res. Regulatory News (PAT)

4 July 2023

Panthera Resources Plc

("Panthera" or "the Company")

Equity Financing Update

Gold exploration and development company Panthera Resources Plc (AIM: PAT), with assets in West Africa and India provides the following update in respect of the Company's equity financing as originally announced on 29 March 2023.

Most recently, on 5 June 2023, the Company announced, amongst other matters, that admission of the second tranche of new ordinary shares of 1 pence each in the Company (the "New Ordinary Shares") is anticipated to occur on or around late June 2023.

The Company is pleased to now confirm that 1,929,412 New Ordinary Shares (previously 1,925,000 New Ordinary Shares) representing £82,000.01 before expenses (previously £81,812.50 before expenses) (together the "Second Tranche") is anticipated to be admited to trading on AIM on or around 7 July 2023 ("Second Admission").

Equity financing summary

As part of the equity capital fundraising, 21,725,590 New Ordinary Shares (representing £923,337.58 before expenses) (together the "First Tranche") admitted to trading on AIM on 5 May 2023 ("First Admission"). Accordingly, subject to and following Second Admission, a total of £1,005,337.59 before expenses will have been raised through the issue of 23,655,002 New Ordinary Shares pursuant to the equity capital fundraising as originally announced on 29 March 2023.

Issue of options

Pursuant to the terms of the equity financing, as announced by the Company on 29 March 2023, subscribers will also receive one warrant for every two Ordinary Shares subscribed for, exercisable at a price of 6.68 pence on or before 10 December 2025 (the "Warrant"), with each Warrant entitling the holder to acquire one new Ordinary Share upon exercise of the Warrant. Accordingly, in respect of the Second Tranche, 964,706 Warrants will be issued.

All other terms of the equity financing, as otherwise outlined in this announcement, remain unchanged from those terms as originally announced by the Company on 29 March 2023.

Second Admission and Total voting rights

Application will be made to the London Stock Exchange plc ("LSE") for the 1,929,412 New Ordinary Shares to be admitted to trading on AIM, which is expected to occur on or around 7 July 2023.

Upon Second Admission, the Company's issued ordinary share capital will consist of 154,509,083 ordinary Shares with one voting right each. The Company does not hold any ordinary Shares in treasury. Therefore, the total number of ordinary Shares and voting rights in the Company will be 154,509,083. With effect from Second Admission, this figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Unless otherwise defined herein, the capitalised defined terms used in this announcement have the same meaning as those used in the Company's announcement on 29 March 2023.

Contacts

Panthera Resources PLC

Mark Bolton (Managing Director) +61 411 220 942

contact@pantheraresources.com

Allenby Capital Limited (Nominated Adviser & Joint Broker) +44 (0) 20 3328 5656

John Depasquale / Vivek Bhardwaj (Corporate Finance)

Kelly Gardiner / Stefano Aquilino (Sales & Corporate Broking)

Novum Securities Limited (Joint Broker) +44 (0) 20 7399 9400

Colin Rowbury

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UK Market Abuse Regulation (UK MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Forward-looking Statements

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.

**ENDS**