Disposal of Panther Metals Ltd Holding

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada, announces the disposal of 18,223,306 shares in Australian Securities Exchange listed Panther Metals Limited ("Panther Australia", ASX:PNT) constituting the Company's entire holding.

The net proceeds of the Panther Australia share disposal to Panther Metals Plc is AUD 421,328 (circa £219,000) after fees and charges.

Darren Hazelwood, CEO commented:

"We've always understood the drill bit is the ultimate driver for exploration success, and our exit from Panther Australia is in no way a reflection on their drill prospects and their very competent exploration team.

Our own strategy is clearly focused on making a transformative discovery on our own highly prospective portfolio, as that will bring the most benefit to our shareholders.

To thrive in the junior exploration sector, one has to be pragmatic; it's essential to be able to modify and adapt corporate strategies in order to best manage the interests of shareholders.

We've witnessed several recent developments with the Company, including the issue of the Dotted Lake drilling permit, and it's time to move forward. I will be updating the market as plans come to fruition."

Obonga Project

Dotted Lake Project

Fulcrum Metals Plc

Panther Metals Plc own 12.38% of the issued share capital of Fulcrum Metals Plc and a 2% NSR on the Big Bear project.

Conclusion