Dotted Lake: Soil Geochemical Grid Processing

Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada, is very pleased to announce the processed results of the combined 2024 and 2021 soil geochemical survey dataset (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.

Darren Hazelwood, CEO, commented:

"Our combined soil data for Dotted Lake has yielded valuable insights, with clustering analysis revealing well-defined geochemical trends that enhance our understanding of the mineralisation footprint and point to as yet untested bedrock source targets. The intensity of the various commodities in the soil correlates very positively with our geological model and aligns favourably with soil signature levels which have led to significant mineralisation discoveries within close proximity to our Dotted Lake Project.

This systematic exploration data driven approach is providing a clear pathway for next steps, and the results to date reinforce the Project's potential. With third-party data sharing in place for several months, we have been carefully managing and analysing the technical information to maximise its strategic value. We are encouraged by the progress and look forward to advancing towards the next phase."

The combined gridded 1,472 assay dataset provides high-resolution soil survey coverage to 6.0km strike length on the north shore of Dotted Lake. The combined dataset is derived from soil sampling conducted on behalf of Panther by Bayside Geoscience during 2024 (reported 13 March 2025) and by Fladgate Exploration during 2021 (reported 9 November 2021).1,2

The gridded soil assay data has returned highly anomalous standout gold and critical mineral geochemical trends and anomalies, including major structurally controlled sub-parallel gold trends which merge on the western north-shore of Dotted Lake (Figure 1), a 5km long nickel trend (Figure 2) with coincident cobalt and chromium.

Strong base metal trends are also apparent, a 3.5km long zinc anomaly stretches across the northern boundary of the combined survey area (Figure 3), whilst distinct copper zones (Figure 4) correlate well with multielement anomalies including the zinc and nickel.

Highly anomalous soil assays range up to 1,665 ppm copper, 480 ppm nickel, 63 ppm cobalt, 432 ppm zinc, 0.99 ppm silver and 377 ppb gold (Table 1).

Table 1: Highest Three Soil Assay Results for Selected Elements (Combined Data)

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.

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

Maps showing select gold, nickel, zinc and copper grids are shown below, further maps are available in the above linked presentation.

(> 10 ppb Au Labels)

Figure 1: Structurally Controlled Gold Trends Merge South of Lampson Lake

(> 100 ppm Ni Labels)

Figure 2: Significant Nickel Anomalies Trend Right Across the Survey Area

(> 50 ppm Zn Labels)

Figure 3: Anomalous Zinc Trend Exceeds 3.5km In North of Survey Area

(> 100 ppm Cu Labels)

Figure 4: Distinct Copper Anomalies Correlate with Multielement Anomalies Including Nickel and Zinc

Soil Survey Programme Details

In 2024 Bayside Geoscience Inc. ("Bayside") was contracted to extend and provide infill over the 2021 soil survey grid which was conducted for Panther by Fladgate Exploration ("Fladgate"). Each survey produced multiple significant nickel (Ni), cobalt (Co), copper (Cu), gold (Au) and platinum group element ("PGE") anomalies.1, 2

Following the announcement of the Bayside soil sampling results on 13 March 2025, the Company has combined and processed a total of 1,472 soil results which were collected 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 combined and gridded survey dataset has significantly extended anomaly trends up to 6km in strike length.

References

1: Company announcement, Soil Survey Significantly Enhances Targets, Soil Assay Results Delineate Strong Multielement Trends on Dotted Lake North Shore, dated 13 March 2025

( https://polaris.brighterir.com/public/panther_metals/news/rns/story/xj2k8gr )

2: Company announcement, Dotted Lake - Soil Sampling Survey Results, dated 9 November 2021

( https://polaris.brighterir.com/public/panther_metals/news/rns/story/x57m0pw )

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