Strategic Fundraise

Panther Metals (LSE: PALM), the exploration company focused on mineral projects in Canada, is pleased to announce that it has raised gross proceeds of £1,190,000 (before expenses) through a placing of 1,700,000 ordinary shares of no par value ("Ordinary Shares"; the "Placing Shares") at a price of 70 pence (the "Placing Price") per Placing Share (the "Placing").

The Placing, which received substantial backing from new and existing institutional investors and existing shareholders of the Company, was significantly oversubscribed and subject to scale back.

Darren Hazelwood, Chief Executive Officer, commented:

"The financing announced today, enables Panther Metals to accelerate its activities across the entire project portfolio which is timed well as the Company looks to a North American exchange dual list.

These activities include a diamond drilling campaign focussed on building out the Wishbone VMS discovery at Obonga, advancing the Wishbone Tailings Project workstreams towards a Feasibility Study and metallurgical studies on the Dotted Lake drill core as a potential source of high-value magnesium.

Accelerating these work streams meets our corporate objectives to grow the value of the business for the benefit of all shareholders."

Placing details

The Placing Shares will represent approximately 24.3% of the existing issued Ordinary Share capital of the Company. The Placing Price represents a 6.67% discount to the mid-market closing price of the Company's shares on 5 February 2026, being the latest practicable date prior to the publication of this announcement. The UK prospectus regime was updated in January 2026, increasing the secondary issuance prospectus threshold from 20% to 75% of existing share capital.

Optiva Securities Ltd ("Optiva") is acting as placing agent in connection with the Placing. The Company has today entered into a broker agreement with Optiva pursuant to which, on Admission, Optiva will be appointed as joint broker to the Company.

Use of proceeds

The net proceeds of the Placing will enable the Company to accelerate key corporate and exploration objectives including:

Obonga Project drilling:

o Wishbone Prospect diamond drilling programme to build out Volcanogenic Massive Sulphide system discovery.

Magnesium Recovery Metallurgical Testwork:

o Dotted Lake Project drill core composite sample to undergo magnesium recovery focussed metallurgical testwork.

Winston Tailings Project:

o Advance the workstreams to quantify, evaluate, and permit the recovery of the contained high-grade gold (Au), gallium (Ga), silver (Ag), zinc (Zn), indium (In), copper (Cu) and cobalt (Co) and other recoverable minerals located within the historic Winston Lake Mine tailings storage facility.

• Supporting a dual listing in North America and general corporate working capital.

Admission and Total Voting Rights

Application will be made for the Placing Shares to be admitted to trading on the main market for listed securities of London Stock Exchange plc ("Admission"). It is anticipated that Admission will become effective, and that dealings in the Placing Shares will commence, at 8.00 a.m. (London time) on 16 February 2026.

The Placing Shares will, when issued rank pari passu in all respects with the existing issued Ordinary Shares of the Company.

Immediately following Admission, and in accordance with the FCA's Disclosure Guidance and Transparency Rule 5.6.1, the Company's total issued share capital will comprise 8,683,986 Ordinary Shares, each with one vote. This figure may be used by shareholders in the Company 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

The person responsible for releasing this announcement pursuant to UK MAR is Darren Hazelwood, Chief Executive Officer of the Company.

Dotted Lake Project - Hemlo-Adjacent Gold Opportunity with Growing Momentum

Commercial Strategy - Discovery-Driven Value Creation