Panther Metals : Drilling Begins at Eight Foot Well

ASX ANNOUNCEMENT

5 April 2022

For personal use only

Drilling Begins at Eight Foot Well

Highlights:

• • Panther Metals has commenced drilling at the Eight Foot Well gold prospect

• • The 2,500m reverse circulation program is focused on infill and extension drilling of the historic gold trend with the intention to define the primary gold source and upgrade it into a potential future Mineral Resource

• • Still awaiting assay results for a further 33 holes at the Coglia Nickel-Cobalt project

Summary:

Panther Metals Ltd (ASX: PNT), ('Panther' or 'the Company') is pleased to announce that we have begun drilling at the Eight Foot Well gold prospect.

Daniel Tuffin, Managing Director, commented:

"This new drilling marks the next phase of our two-pronged commodity exploration approach at Panther Metals. We're utilising the same drill rig and crew that was employed for the Coglia Nickel-Cobalt drill campaign at Eight Foot Well.

We will continue to keep the drill bit spinning, extending the potential strike and depth at the Eight Foot Well gold prospect, while we await the 33 outstanding assays from the Coglia Nickel-Cobalt project. Once these assays are received the Company will advance to a Mineral Resource estimate to JORC guidelines study for the Coglia Nickel-Cobalt project."

http://panthermetals.com.au

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ASX ANNOUNCEMENT

5 April 2022

Eight Foot Well:

For personal use only

The Eight Foot Well Gold prospect historic drilling consists mainly of shallow rotary air blast (RAB) and aircore drilling carried out by Homestake Australia in the mid 1990's. Follow up reverse circulation (RC) drilling was carried out over the mineralised zones identified by the prior drill programmes; this drilling identified good geological continuity with the shallow RAB and aircore programmes, but failed to identify a substantial primary source to the supergene mineralisation previously recorded in the RAB and aircore drilling (reference: Page 24, Panther Metals Prospectus)

Figure 1: A cross section of the historic drilling at the Eight Foot Well gold prospect (Source: Panther Metals Prospectus)

The Company intends to follow up on the historic drilling with a 2,500m infill and extensional reverse circulation programme at Eight Foot Well, with the intention to define the primary gold source and upgrade it into a potential future Mineral Resource.

The planned drill programme is shown in Figure 2.

http://panthermetals.com.au

2

ASX ANNOUNCEMENT

5 April 2022

For personal use only

HOLE ID	From (m)	To (m)	Interval (m)	Au (ppm)
95EFAR014	4	6	2	9.20
97EFRB0092	34	50	16	1.05
including	35	40	5	2.65
95EFAR025	32	38	6	1.57
97EFRB0020	37	44	7	1.11
98EFRC0004	81	82	1	7.02
95EFAR025	22	24	2	1.20
97EFRB0020	33	34	2	1.16
98EFRC0004	100	101	1	1.40

Figure 2: Planned drilling at the Eight Foot Well gold prospect (Source: Panther Metals Prospectus)

Table 1: Drill hole composite data for Figures 1 & 2

http://panthermetals.com.au

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ASX ANNOUNCEMENT

5 April 2022

For personal use only

The information that relates to Exploration Results is based upon information compiled by Mr Paddy Reidy, who is a director of Geomin Services Pty Ltd. Mr Reidy is a Member of the Australian Institute of Mining and Metallurgy. Mr Reidy has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code 2012). Mr Reidy has 25 years of relevant experience in the Technical Assessments of Mineral Properties. Mr Reidy consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

This announcement has been approved and authorised by the Board of Panther Metals.

For further information:

Investor Relations	Media Enquiries
Daniel Tuffin	Angela East
Managing Director	M+C Partners
[e-mail]	[e-mail]
About Panther Metals

Panther Metals is an ASX-listed Nickel-Cobalt and Gold explorer with drill-ready targets across the five projects in the mining district of Laverton, Western Australia and two in the Northern Territory.

For more information on Panther metals and to subscribe to our regular updates, please visit our websitehere and follow us on:

https://twitter.com/panther_metals

https://www.linkedin.com/company/panther-metals-ltd/

http://panthermetals.com.au

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ASX ANNOUNCEMENT

Appendix

5 April 2022

For personal use only

Hole ID NorthEast RLAzimuthDipDepth
95EFAC001	6829148	415350	408	0	-90.00	12
95EFAR012	6828946	415695	408	0	-90.00	30
95EFAR013	6828928	415685	408	0	-90.00	29
95EFAR014	6828910	415674	408	0	-90.00	32
95EFAR015	6828892	415664	408	0	-90.00	39
95EFAR016	6829167	415361	408	0	-90.00	32
95EFAR017	6829142	415346	408	0	-90.00	27
95EFAR018	6829128	415338	408	0	-90.00	28
95EFAR019	6829110	415328	408	0	-90.00	17
95EFAR020	6829098	415321	408	0	-90.00	44
95EFAR021	6829067	415534	409	0	-90.00	11
95EFAR022	6829057	415528	409	0	-90.00	35
95EFAR023	6829031	415513	409	0	-90.00	41
95EFAR024	6829002	415496	409	0	-90.00	29
95EFAR025	6828920	415680	408	0	-90.00	40
95EFAR026	6828937	415690	408	0	-90.00	39
97EFRB0018	6828837	415632	408	0	-90.00	55
97EFRB0019	6828881	415657	408	0	-90.00	50
97EFRB0020	6828924	415682	408	0	-90.00	50
97EFRB0021	6828967	415707	408	0	-90.00	9
97EFRB0022	6829011	415732	408	0	-90.00	29
97EFRB0023	6829054	415757	409	0	-90.00	50
97EFRB0024	6828981	415484	408	0	-90.00	66
97EFRB0025	6829024	415509	409	0	-90.00	50
97EFRB0026	6829067	415534	409	0	-90.00	28
97EFRB0027	6829111	415559	410	0	-90.00	6
97EFRB0028	6828831	415744	408	0	-90.00	35
97EFRB0029	6828781	415830	409	0	-90.00	6
97EFRB0030	6828781	415831	409	0	-90.00	6
97EFRB0031	6828824	415855	408	0	-90.00	8
97EFRB0032	6828867	415880	409	0	-90.00	50
97EFRB0033	6828910	415905	409	0	-90.00	50
97EFRB0089	6828874	415769	408	0	-90.00	50
97EFRB0090	6828917	415794	408	0	-90.00	37
97EFRB0091	6828931	415571	408	0	-90.00	36
97EFRB0092	6828974	415596	408	0	-90.00	50
97EFRB0093	6829017	415621	408	0	-90.00	50
97EFRB0106	6828637	415978	409	0	-90.00	47

Table 2: Historical drill hole collar information for the Eight Foot Well prospect

http://panthermetals.com.au

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