Appointment of Joint Broker and Manitou funding

MARKET SOUNDINGS WERE TAKEN FROM CERTAIN PERSONS IN RELATION TO THE PLACING AND THE SUBSCRIPTION. THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

PANTHER METALS PLC

("Panther" or the "Company")

(Incorporated in the Isle of Man with company number 009753V)

Appointment of Joint Broker and Manitou Lakes Drilling Programme Funded

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada, is pleased to announce the appointment of Axis Capital Markets ("Axis") as its Joint Broker.

In association with the Axis appointment Panther has raised in aggregate £300,000 (before expenses) by the issue of 15% unsecured loan notes ("Loan Notes") with a 12 month maturity and warrants attached on a one-for-one basis with an exercise price of 3.3 pence each ("Warrants") (together, the "Subscription"). The proceeds from the Subscription will be used to fund the inaugural diamond drilling programme at the Manitou Lakes Project, targeting gold on the Eagle-Manitou-Wabigoon Greenstone Belt, in northwestern Ontario, Canada.

Darren Hazelwood, Chief Executive Officer, commented:

"The appointment of Axis continues the work the Board has commenced in our corporate strategy. Access to innovative, non-discounted funding, introduced by Axis, will allow the Company to execute our on the ground drilling programmes and prove up the highly prospective asset base we have built up.

With an international client base, the Board is excited to be working alongside Axis to introduce new investors to the Panther Metals story as well as long only institutions who will help strengthen our shareholder register.

The capital raise will fund an inaugural gold focussed diamond drilling programme at our Manitou Lakes Project, and we look forward to providing further information on this in the coming days."

Funding Highlights

• The Warrants are attached to the Loan Notes on a one-for-one basis at an exercise price of 3.3 pence each. As and when the warrants are converted the value of those warrants will be subtracted from the outstanding loan balance owed by the Company.
• The Loan Notes will be unlisted and no offer or invitation is being made to shareholders more generally to purchase, acquire or subscribe for any of the Loan Notes or Warrants.
• The proceeds of the Subscription will be used to fund a drilling programme on the Manitou Lakes gold project, details of this programme will be provided in the near term.

Obonga Project

Dotted Lake Project

Manitou Lakes Project

Fulcrum Metals Plc

Panther Metals Australia

Conclusion