Loan Settlement, Equity Issue, Total Voting Rights

Further to the announcement made on 12 March 2025 (RNS 3848A) Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada, will allot, issue, and admit to listing, a combined total of 362,250 shares at an issue price 50p (the "Settlement Shares") and deliver 362,250 warrants with an exercise price of 75p to the former holders of the loan notes. The warrants will have a life of 3 years and be subject to an "accelerator" requiring the warrants to be exercised should the Panther share price exceed £1.50 at any time over a period of 20 trading days following the date of the issue of the warrants.

Authority to issue the Settlement Shares and the shares underlying the warrants was approved by shareholders on 2 April 2025.

When issued, the Settlement Shares will be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares in the share capital of the Company, including the right to receive all dividends and other distributions declared, made, or paid on or in respect of such shares after the date of issue of the Settlement Shares.

Application will be made to the Financial Conduct Authority ("FCA") for admission of the Settlement Shares to the equity shares (transition) category of the Official List maintained by the FCA and to the London Stock Exchange (the "LSE") for admission to trading of the Consideration Shares on the LSE's Main Market for listed securities (together "Admission"). It is expected that Admission will take place at 8.00 a.m. on 8 April 2025 and that dealings in the Consideration Shares on the LSE's Main Market for listed securities will commence at the same time.

Total Voting Rights

Following Admission, the Company's total issued share capital consists of 5,593,400 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury.

Therefore, following Admission, the total number of voting rights in Panther Metals plc is 5,593,400. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

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