White Cliff Minerals Limited (White Cliff or the Company) is pleased to announce that is has entered into a binding Tenement Sale Agreement (Agreement) with LSE-listed exploration company, Panther Metals PLC (Panther) for the 100% sale of the Company's Merolia Gold Project, Laverton Western Australia (Transaction).

The total upfront consideration for the Transaction is A$274,0001, consisting of A$112,500 cash and 734,470 ordinary shares in Panther (50% of the consideration shares will be subject to 6 months voluntary escrow from the date of issue and other 50% will be subject to 12 months voluntary escrow from the date of issue). In addition to the upfront consideration, White Cliff is entitled to additional payments over the Merolia Gold Project, with Panther required to pay A$1.25 per ounce of gold resource declared within the Merolia Gold Project area, in accordance with the JORC or equivalent reporting code(s).

Commenting on the transaction with Panther, White Cliff's Non-Executive Chairman, Michael Soucik said: 'The sale of the Merolia Gold Project is a great outcome for the Company's Shareholder's. While the project has historical, high-grade gold results and a lot of potential to delineate a future maiden resource, the Board considers that it is non-core to the Company's future direction which centres around the Reedy South Gold Project and the Midas Cu/Au project.

'The Transaction with Panther Metals provides the Company with ongoing exposure to the project in the form of future cash payment on all gold resource ounces being declared. We look forward to completion of the Transaction in by mid-December.'

Contact:

Dan Smith

Tel: +61 8 9486 4036

Email: info@wcminerals.com.au

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