Winston Tailings Project - Appointment of Extrakt

Extrakt Process Solutions Appointed for Metal Extraction Testwork

Panther Metals Plc (LSE: PALM), the exploration company focused on mineral projects in Canada, is pleased to announce the appointment of Extrakt Process Solutions LLC ("Extrakt") to conduct phased metallurgical testwork for the recovery of metals from the Winston Tailings Project in Ontario, Canada.1,2,3

The testwork will be conducted in association with TDI Solutions LLC an independent laboratory authorised and equipped to implement the Extrakt innovative hydrometallurgical extraction technology. This work and associated studies are inputs into the Application for Recovery of Minerals Permit (the "Recovery Permit") process as announced 1 September 2025.4,5

The Phase 1 metallurgical characterisation and testwork will be conducted on representative composite samples of tailings material obtained from the resource drilling programme.6,7 The Phase 1 work is designed to generate baseline data on metal extraction performance, which will guide and support the design of subsequent testwork phases to determine the recoveries for gold (Au), gallium (Ga), indium (In), silver (Ag), zinc (Zn), copper (Cu) and cobalt (Co) and/or other recoverable metals contained within the historic Winston Lake Mine tailings storage facility (Figure 1).

The Phase 1 metallurgical results will also support the Reasonable Prospects of Eventual Economic Extraction requirement for the planned Mineral Resource estimate ("MRE") being conducted by the SRK Group.6

The MRE and the Extrakt metallurgical testwork are integral workstreams to advance the Winston Tailings Project through permitting towards a cashflow proposition.

Darren Hazelwood, Chief Executive Officer commented:

"We are delighted to have the opportunity to appoint Extrakt Process Solutions who are pioneering advanced non-cyanide mineral processing technologies to recover metals from tailings in an environmentally sustainable manner."

About Extrakt

Extrakt Process Solutions is a United States based technology company focused on environmentally sustainable separation technologies for recovering precious mineral recovery, hydrocarbon separation as well as dewatering of mine waste and other related processes. Extrakt has a global patent portfolio and continues to develop new processes and technologies. Extrakt also has a strategic global alliance with Bechtel Energy Technologies & Solutions Inc. (BETS) part of the Bechtel Corporation the major engineering, construction, procurement & project management group.8

Background

The Winston Tailings Project entails a series of workstreams to quantify, evaluate and permit the contained high-grade gold (Au), gallium (Ga), silver (Ag), zinc (Zn), copper (Cu), indium (In) and cobalt (Co) and other recoverable minerals located within the historic Winston Lake Mine tailings storage facility. Reprocessing the mine tailings, potentially offers Panther the opportunity to unlock residual metal value and contribute to the long-term environmental rehabilitation of the Winston Project site.1, 2

Figure 1: Existing Infrastructure at Winston Tailings Storage Facility

References

• Panther Metals PLC, announcement, Tailings Sampling Programme Underway at Winston Project, dated 15 July 2025 (https://polaris.brighterir.com/public/panther_metals/news/rns/story/w606ngw )
• Panther Metals PLC, announcement, Winston Tailings: Gold & Critical Mineral Reprocessing, Evaluation and Permitting Workstreams Commencing, dated 8 August 2025

( https://polaris.brighterir.com/public/panther_metals/news/rns/story/rm7movr )

( https://polaris.brighterir.com/public/panther_metals/news/rns/story/x20od6r )

• Panther Metals PLC, announcement, Winston Tailings Project: Mineral Resource Appointment, SRK Appointed To Conduct Mineral Resource Estimate, dated 22 September 2025

( https://polaris.brighterir.com/public/panther_metals/news/rns/story/rdo96mx )

• Panther Metals PLC, announcement, Winston Tailings Project: Mineral Resource Drilling, Platinum Diamond Drilling Appointed for Mineral Resource Programme, dated 20 November 2025

( https://polaris.brighterir.com/public/panther_metals/news/rns/story/w90ljpw )

• Press Release dated 20 February 2024: Extrakt and Bechtel Partner to Commercialize Groundbreaking Solid-Liquid Separation Technology, (https://www.bechtel.com/press-releases/extrakt-and-bechtel-partner-to-commercialize-groundbreaking-solid-liquid-separation-technology/ )

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