Bear Lake Project Acquisition Update

Panther Metals PLC

29 August 2018

Panther Metals PLC

("Panther" or the "Company")

Bear Lake Project Acquisition Update – Due Diligence Completing

Panther Metals plc (NEX:PALM), the London NEX Exchange Growth Market listed investor in strategic natural resource opportunities, is pleased to provide an update regarding the option agreement to acquire the Bear Lake Project portfolio of prospective exploration properties in Canada.

Highlights:

• PALM have now completed a review of the technical information packages relating to the three-contiguous early stage gold and base metal exploration tenements (Little Bear Lake, Bear Lake & Schreiber Pyramid) located on the Schreiber-Hemlo greenstone belt in north-western Ontario, Canada.

• A Canadian subsidiary is being set up for the purpose of operating the exploration concessions.

• PALM are currently working with the vendors to design a follow-on exploration programme to build on the results already established.

• It is proposed the exploration work will be carried out by local contractors under the oversight of a local exploration manager under the guidance of the PALM Technical Committee.

• Detailed exploration programme is currently being designed with planned exploration work expected to include detailed structural and geological mapping, geochemical sampling, ground geophysics, stripping and trenching.

• The Little Bear has seen no trenching or drilling, and numerous untested geophysical targets exist throughout the property. It has a valid exploration permit for stripping, trenching and drilling.

• Big Bear property lies directly to the east of Little Bear and over the possible strike continuation of the Little Bear gold trend.

• Schreiber Pyramid property contains a number of high grade gold veins and base metal occurrences.

Mitchell Smith Executive Officer of Panther Metals commented:

“We are pleased to announce an update regarding the Bear Lake Project option agreement signed in July.  We have completed a technical review and feel the prospective property is underexplored and has the potential to yield economically significant deposits as exist along strike Schreiber-Hemlo Greenstone Belt.   We look forward to announcing further details in the near future.”

Highlights from the review of the geological information and previous exploration results for the three tenements, are outlined below:

Schreiber Pyramid tenement

• Schreiber Pyramid property contains several high-grade gold veins and base metal occurrences.

• Property has had a number of historical investigations but has not yet been subjected to systematic modern exploration techniques:

  • During 1930s: Vein#1 which can be traced for 366m, was bulk sampled by an exploration adit with a reported 150t sample averaging 17.6g/t Au.

  • In 1969: five holes were drilled on Vein#2 (150m NE of Vein#1). Intersections included 0.55m @ 19.2% Zn & 4.6% Cu from 15.2m depth, from sulphide mineralisation on a shear contact.

  • In 1984: grab sampling at Vein#2 and Vein#1 undertaken by former mining company Falconbridge (now part of Glencore) gave samples up to 31% Zn and 45.2g/t Au respectively.

  • In 1999: Vein#2 surface sampling of sphalerite mineralisation assayed 14.6% Zn, 19.6 g/t Ag & 0.46 g/t Au.

  • In 1987: Ministry of Northern Development of Mines sampled both the Vein#1 and Vein#2. Assays of Vein#1 included two at 13.06g/t Au and 26.75g/t Au and one sample at Vein#2 of 17.5% Cu, 7.1% Zn & 139g/t Ag.

• In 1989: Placer Dome conducted stripping and rock sampling on part of the Schreiber-Pyramid fault in the area of Vein #6.

• In 1992: Vein#4 work has not been well documented but returned a sample of 0.93g/t Au.

Little Bear tenement

• A 2010/11 reconnaissance programme uncovered three separate bedrock sources of gold, with a fourth area containing high-grade gold and silver in soil.The occurrences are orientated in a 1.6km trend.

• At an early exploration stage, to date it has not been subject to trenching or drilling.

• Known geology consists NW-SE striking banded iron formation (BIF ranging between 1 – 4m wide) crossing entire width of the tenement.

• The 2010/11 Reconnaissance results included:

  • 2010: surface stripping & channel sampling at the west end of the 1.6km gold trend gave 6m @ 1.5g/t Au including 2m @ 3.3g/t Au.

  • 2011: ground geophysics, prospecting and sampling led to delineation of three high interest areas in the centre and east of the trend; 53.7g/t Au & 19.25g/t Ag sample at A1, 3.8g/t Ausample at A2 (200m north of A1); and up to 18.2g/t Au & 1.03g/t Ag in soil samples at A3 (SE of A1).

• In a neighbouring property immediately to north of Little Bear tenement, limited trenching and pitting during 1935/6 yielded a 1t sample with a reported average 1,419g/t Au grade.

Big Bear tenement

• Big Bear property lies directly to the east of Little Bear and over the possible strike continuation of the Little Bear gold trend.

• At an early exploration stage.No systematic exploration has yet been conducted.

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.

There is no further information that is required to be disclosed pursuant to Paragraph 21, Appendix 1 of the NEX Exchange Growth Market – Rules for Issuers.

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

For further information on the Company:

The Company PANTHER METALS PLC Darren Hazelwood, Non-Executive Director Mitchell Smith, Chief Executive Officer		+ 44 (0)7971 957 685 + 1 [phone] [e-mail]
NEX Exchange Corporate Adviser PETERHOUSE CAPITAL LIMITED Mark Anwyl Guy Miller		[phone]

Notes to Editors:

The Bear Lake Project area consists a total of 69 Claim Units equivalent to 12.14km2 located in the Schreiber-Hemlo Greenstone Belt, 95 km west of Hemlo and 155 km east of Thunder Bay. The Project is prospective for both lode gold and volcanogenic massive sulphide (VMS) style mineralisation and located in the Province of Ontario which is a mining friendly jurisdiction with an established permitting framework. The Fraser Institute 2017 Investment Attractiveness Index ranked Ontario 3rd /12 by Canadian Province and 7th /91 globally.