Panther Metals PLC provided the additional graphite assay results for drill hole BBR22_AW-P1-1, following additional sample submissions targeting crystalline or 'flake' graphite. The additional sampling is part of a review of the graphitic core drilled at the Awkward Prospect in the autumn of 2022 and a comprehensive historical data review which has extended the graphite potential. The Awkward Prospect area is prospective for sulphide bearing magmatic conduits and graphite and is located in the eastern side of the Company's Obonga Project, which covers 90% (291 km2) of the district scale Obonga Greenstone Belt in northwest Ontario.

The updated assay results for drill holeBBR22_AW-P1-1 are as follows: Drillhole BBR22_AW-P1-1 Total Graphitic Carbon Assay Results; 27.2 m @ 2.25 % Total Graphitic Carbon ('TGC')from 12m downhole, including;   4.0 m @ 3.64 % TGC from 14.0 m, with §1.0 m @ 5.15 % TGCfrom 16.0 m; 6.0 m @ 3.60 % TGC from 19.0 m, with §1.0 m @ 5.12 % TGCfrom 21.0 m; and 8.0 m @ 2.42 % TGC from 27.0 m, with §2.0 m @ 4.16 % TGCfrom 29.0 m downhole. Based on the plate modelling Trend 3 is currently circa 730m long but remains open to the east.  Additional drilling will be required to confirm that the graphite extends to the full length of Trend 3, but current interpretation based on conductance levels supports the continuation of the graphite body. Based on preliminary interpretation of the EM data there is the prospect that additional plate modelling eastwards of Trend 3 could extend the conductive lineation a further 4.1kmto the east, which would significantly enlarge the potential size of a graphite target. Further Graphite Targets; On 29 December 2023 Panther announced the Obonga Project Awkward East Claim Purchase Agreement 2, which has enlarged the Awkward Prospect area by an additional 7.25km2 to the east.

A review of historical reports for the Awkward East area has shown that a single 55m long diamond hole (Number 66-1) drilled by Cantri Mines Limited in June 1966 intersected three graphitic 'flow' zones interbedded with rhyolite on the western end of the Awkward East claim block.  Whilst this drill hole was a single isolated hole it is located on the eastern end of a 6.5km long conductive lineament (the 'Cantri Trend') based on the Garden-Obonga Airborne Geophysical Survey flown by the Ontario Government in late 1999.  It is noteworthy that the Cantri Trend runs to 2km to the north and parallel to Panther's Trend 3 and that both can in part be attributed to graphite. Initial geological interpretation has established a preliminary graphite target area in the region of 21.5 km2 across the Awkward and Awkward East prospect areas.

In addition to the graphite potential Awkward remains 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).