Dotted Lake Drill Targets

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada, is pleased to provide an update with regards to Phase 1 Drill Targeting at the Dotted Lake Project ("Dotted Lake" or the "Project"), on the north limb of the Schreiber-Hemlo Greenstone Belt in Ontario, Canada.

Highlights

• Four Target Areas delineated for Phase 1 diamond drilling, focussed on nickel (Ni), cobalt (Co), copper (Cu), gold (Au) and platinum group element ("PGE") bearing sulphide mineralisation associated with the mafic-ultramafic intrusive complex in the north-east of the Dotted Lake Project area.
• Drill target areas (Figure 1) comprise significant coincident anomalies based on geochemical soil sampling assay data, prospecting, and the results of recent geophysical modelling and interpretation:

o Target Area C: Western end (toe) of the Dotted Lake ultramafic intrusive complex coincident with multielement anomalies including Ni, Cu, Co, Au and PGE. Includes Centre for Exploration Targeting ("CET") grid analysis target zones of significant structural complexity that present preferential sites for the development of mineral deposits.

o Target Area D: Anomalous soils for Ni, Cu, Co, Au and PGE, over zone of structural complexity and CET zones on the south flank of an ultramafic intrusive modelled below Lampson Lake. Lampson Lake has one of the regions highest lake sediment copper anomaly (985 ppm Cu) as well as highly anomalous heavy rare earth elements.

o Target Area E: Multi element soil anomalies located over ultramafic intrusive body.

o Target Area F: Coincident copper in soil anomalies and electromagnetic 500m long 3D plate modelling conductors, situated on the northern flank of the ultramafic intrusive complex.

• Exploration strategies involving drill targeting of geophysical modelled ultramafic intrusive feeder dykes coincident with soil anomalies have led to multiple discoveries of high-grade nickel and copper and PGE, to the east of Dotted Lake by GT Resources Inc. Preliminary interpretation suggests that the Dotted Lake ultramafic intrusive complex is part of the same mineralising system.
• Further technical information concerning these targets is available in the Panther announcement dated 7 October 2024.

Figure 1: Dotted Lake Phase 1 Drill Target Areas

Darren Hazelwood, CEO commented:

"Dotted Lake has become part of a bigger story in the wider Hemlo region and our strategy has been to garner as much data as possible allowing us to critique the investment case of the Project.

Based on our own data, external information and historic reports our confidence and focus on this exciting area has only increased. We are part of an industry built on risk/reward. Having managed and developed Dotted Lake every signal provided indicates this project area deserves to be drilled. The locations of the drill sites in this release jumped off the data sheets, when this happens you have to execute.

Our previous work at Dotted Lake means the majority of the required infrastructure is already in place and we will shortly be able to answer the questions the industry is asking. Tyko 1 to our east has been one of the success stories in Ontario over the last few years, and the Dotted Lake ultramafic intrusive complex has, in our opinion, every chance of delivering as well.

Greenfield exploration offers rewards from success like no other industry and once you factor in Dotted Lake's location, surrounding infrastructure and the majors close-by, should we prove successful with this programme, it has the potential to become a game changer for the business."

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Conclusion