Bear Lake Project – Exploration Permit Awarded

17 September 2018

Panther Metals PLC
("Panther" or the "Company")

Bear Lake Project – Exploration Permit Awarded

Panther Metal plc (NEX: PALM), the London NEX Exchange Growth Market listed investor in strategic natural resource opportunities, is pleased to provide an update regarding the Company’s Bear Lake Project (the “Project”) in Ontario Canada.

• Exploration Permit granted for the Bear Lake Project.

• Permit allows for mechanised drilling, stripping, trenching and line cutting works for a period of 3 years.

• Exploration programme to build on historic results now being planned.

Mitchell Smith, Managing Director, commented:

“The granting of the exploration permit marks a significant step forward for the company and its stakeholders. Panther Metals now has the necessary permission to start physical exploration works, allowing the business to formally start planning the next stage of the project development.

We are excited to start the process of following up on the historical results which include high-grade surface of up to 53.7g/t of gold and historical drill intercepts running up to 4.6% Copper and 19.6% Zinc. We look forward to providing further updates once the work programme is finalised.”

Exploration Permit Detail

The Exploration Permit, number PR-18-000151, is issued by the Ontario Ministry of Energy, Northern Development and Mines and covers exploration work on the individual claims constituting the Bear Lake Project for a three-year period to 10 September 2021.

The permit covers the following works:

• Mechanised Drilling (assembled weight >150kg);

• Mechanised Stripping (>100m² in 200m radius);

• Pitting and Trenching (>3m³ in 200m radius); and

• Line cutting (>1.5m width).

Project Access

The Bear Lake Project is centred approximately 4km north of the town of Schreiber, Ontario, Canada.  Schreiber is located on Highway 17, the main arterial road that serves the region and gives access from the major cities in Ontario. Thunder Bay International airport is approximately a two-hour drive from the Project site.

Provincial Background

The Province of Ontario has a rich history of mining and a culture of support for the mining industry. There are currently 38 mine sites in operation in the Province which is the largest producer in Canada of gold, platinum group metals and nickel, and the second largest producer of copper. More than half of the metals mined in Ontario are processed there, in addition to processing minerals from four Canadian provinces, the United States and Australia. Ontario currently ranks 7^th in the Frazer Institute global investment attractiveness index for mining.

Share Option Issue

Panther Metals has issued 5,000,000 options at an exercise price of, 0.003p, in leu of cash for professional services rendered in completing the acquisition of the Bear Lake properties. The options vest immediately and expire two years from 17th September 2018.

The technical information contained in this disclosure has been read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, FGS), who is a qualified geologist who acts as the Competent Person. Mr O'Reilly is a Non-Executive Director of Panther Metals PLC and a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Panther Metals PLC to provide technical support.

The Directors of the Company accept responsibility for the contents of this announcement.

For more information on the company, please visit: www.panthermetals.co.uk 

Contacts:

PANTHER METALS PLC
Mitchell Smith, Chief Executive Officer
Tel: + 1 [phone]

Darren Hazelwood, Non-Executive Director
Tel: + 44 (0)7971 957 685
Email: [e-mail]

PETERHOUSE CAPITAL LIMITED (NEX Exchange Corporate Adviser)
Guy Miller
Tel: [phone]

Mark Anwyl

About Panther Metals PLC

Panther Metal plc (NEX: PALM), the London NEX Exchange Growth Market listed investor in strategic natural resource opportunities, is focused on generating shareholder value through advancing high-quality exploration opportunities in stable and mining friendly jurisdictions.

The board has demonstrated capability in taking projects from early grassroots stage through the development curve to production, with a combined 40 years’ experience in the mineral exploration and mining finance sectors.