Panthera Res. Regulatory News (PAT)

29 October 2021

Panthera Resources PLC

("Panthera" or the "Company")

Proposed Equity Issue

The Board of Panthera is pleased to announce that it has arranged an equity capital raising with existing and institutional investors (the "Subscribers") for £780,000 at 10 pence per share.

It is anticipated that the applicable subscription agreements will be executed shortly with settlement planned for on or about 4 November 2021. An application for the admission of the shares for trading on the AIM will be made in the ordinary course.

Commenting on the MMI acquisition, Mark Bolton, Managing Director of Panthera said:

"While the Company is reticent to dilute existing shareholders at current share price levels, the primary application of funds to the proposed MMI acquisition, announced earlier today, is persuasive. Furthermore, the modest quantum and negligible discount to the current share price will limit the impact on our existing shareholders."

Reflecting the limited issue price discount, the Company and the Subscribers have agreed that if the Company issues any further shares for cash before 31 January 2022 (the "Subscription Period") at a price of less £0.10 per share in order to raise a total sum of at least £250,000, the Subscribers may (but is not required to) subscribe for further ordinary shares in the capital of the Company at par value ("Additional Subscription"), such that the average price per share of the Subscription and the Additional Subscription when taken together is equal to the lower issue price.

Contacts

Panthera Resources PLC

Mark Bolton (Managing Director) +61 411 220 942

contact@pantheraresources.com

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

John Depasquale / Vivek Bhardwaj (Corporate Finance)

Financial Public Relations

Vigo Communications Ltd +44 (0)20 7390 0230

Oliver Clark / Chris McMahon

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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**