Dotted Lake: Survey Significantly Enhances Targets

Soil Assay Results Delineate Strong Multielement Trends on Dotted Lake North Shore

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada, is pleased to announce the results of the autumn 2024 soil geochemical sampling programme (the "Soil Survey") at the Dotted Lake Project ("Dotted Lake" or the "Project"), on the north limb of the Schreiber-Hemlo Greenstone Belt in Ontario, Canada.

The 1,044 soil assays collected over four grids have extended high-resolution soil survey coverage to 5.5km strike length over high priority targets on the north shore of Dotted Lake (Figure 1).

The soil assays have returned standout multielement critical mineral geochemical anomalies closely linked and coincident with geophysical anomalies and the recent Phase 1 Diamond Drilling target areas, for which the remainder of the assay results are eagerly awaited.

Highly anomalous soil assays range up to 1,665 ppm copper, 480 ppm nickel, 62 ppm cobalt, 190 ppm zinc, 0.99 ppm silver and 377 ppb gold (Table 1).

The results have delineated multiple new target areas around Lampson Lake where lake sediment samples returned highly anomalous readings of over 985 ppm Cu, 130 ppm Zn, 29 ppm Ni, 19 ppm Co and 0.28 g/t Ag.

The results also show highly anomalous, regionally significant, nickel and cobalt anomalies coincident with ultramafic intrusive targets along the eastern north shore of Dotted Lake ( Figures 1 to 4).

Table 1: Highest Three Soil Assay Results for Selected Elements

Table notes: Soil assay results by ALS Laboratories analytical method ME-MS41L. Limit of detection (LOD) = lower limit of stated method. ppm = parts per million. ppb = parts per billion. 1 ppm = 1,000 ppb. Results subject to rounding.

The Soil Survey work is supported by the Ontario Junior Exploration Program ("OJEP"), a provincial government grant to help junior companies finance early exploration projects. OJEP covers 50% of eligible costs for approved programmes, with the agreed contribution to Panther for this work totalling Canadian $56,930.

A presentation with a series of maps depicting the key soil anomalies is available to view on the Company's website at www.panthermetals.com .

Maps showing select copper, zinc, gold and nickel anomalies are shown below.

Figure 1: Dotted Lake Project 2024 Soil Sampling Grids and Interpreted Ultramafic Bodies

(> 10 ppb Au Labels)

(> 100 ppm Ni Labels)

Figure 2: Significant Gold (top) and Nickel (bottom) Anomalies Trend Right Across the Survey Area

(> 100 ppm Cu Labels)

(> 50 ppm Zn Labels)

Figure 3: Dotted Lake North Shore Grid D Shows Three Highly Anomalous Copper Trends (top map) 2.5 km Long Anomalous Zinc Trend (bottom)

(> 100 ppm Cu Labels)

(> 50 ppm Zn Labels)

Figure 4: Lampson Lake Grid A & B Shows At Least Three Highly Anomalous Copper Trends (top) with coincident Zinc Anomalies (bottom)

Soil Survey Programme Details

Bayside Geoscience Inc. ("Bayside") was contracted to undertake the Soil Survey to extend and provide infill over Panther's 2021 soil survey grid which yielded significant nickel (Ni), cobalt (Co), copper (Cu), gold (Au) and platinum group element ("PGE") anomalies. The Soil Survey also provides infill over the historical geochemical survey conducted by Clear Mines Ltd in August 1983.1, 2

A total of 1,044 soil samples were assayed, including 52 field duplicates, at 25m sample spacing on 100m or 50m spaced grid lines. Sample analysis for a suite of 53 elements was undertaken by ALS Laboratories (Vancouver) using the ME-MS41L Multi-Element Super Trace method which is considered ideal for exploration in soils or sediments.

The Bayside work has extended soil geochemistry data coverage on both the northwestern and northeastern shores of Dotted Lake (Figure 1) and has provided exciting new target areas and trends for further investigation with standout areas of interest in the vicinity of Lampson Lake and along the north shore of Dotted Lake.

References

1: Ontario Junior Exploration Program (OJEP) website

( https://www.ontario.ca/page/ontario-junior-exploration-program )

2: Company announcement, Dotted Lake - New Nickel Target Outlined, dated 13 September 2022 ( https://polaris.brighterir.com/public/panther_metals/news/rns/story/w13n84r )

3: Company announcement, Dotted Lake: Soil Survey Extension Commenced, dated 21 October 2024 ( https://polaris.brighterir.com/public/panther_metals/news/rns/story/ryn86kw )

4: Company announcement, Dotted Lake - Soil Sampling Survey Results, dated 9 November 2021 ( https://polaris.brighterir.com/public/panther_metals/news/rns/story/x57m0pw )

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Conclusion