Winston Tailings: Traxys Letter of Interest Signed

Panther Metals PLC (LSE: PALM), an exploration company focused on mineral projects in Canada, is pleased to announce that it has signed a letter of interest ("LOI") with Traxys Europe SA, a division of Traxys Group ("Traxys"), a global commodity trading and marketing market leader.

The non-binding LOI concerns Panther's Winston Tailings Project and is a formal recognition of an ongoing engagement between both parties as Panther progresses work to declare a Mineral Resource estimate, as part of series of ongoing 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 near Schrieber, Ontario, Canada.

About Traxys

Traxys is a physical commodity trader and merchant in the metals and natural resources sectors. Its sourcing, logistics, financing and marketing services are conducted by over 550 employees in over 20 offices worldwide, and its annual turnover is in excess of US$8 billion. Traxys designs for its supplier and customer base custom-made supply chain solutions. The group is active in the non-ferrous metals, ferro-alloys, minerals, industrial raw minerals, and energy industries, as well as green transition metals.

Traxys is committed to the highest internationally recognised principles for responsible business conduct, and to ensuring that its operations are equitable, sustainable, and transparent.

Traxys premises its practices on environmental, social, and governance (ESG) standards that enable Traxys to set a leading example for the responsible sourcing and trading of metals and minerals. To learn more about Traxys, go to: www.traxys.com.

Darren Hazelwood, Chief Executive Officer commented:

"We are extremely pleased to be in discussions with Traxys at this important stage in the development of the Winston Lake Tailings Project.

As a globally recognised leader in the financing and marketing of metal concentrates, Traxys brings an opportunity for a powerful combination of commercial expertise and the potential to deliver structured financial support aligned with future offtake.

We believe the LOI with Traxys represents a strong third-party endorsement of the Project's technical and economic potential.

The involvement of Traxys with their global scale and capability, potentially offers the capacity to significantly strengthen Panther's pathway, while providing a clear signal of confidence to our shareholders and the wider market as we advance the Winston Tailings Project towards production."

On 9 February 2026 Panther announced plans for an approximately 2,000-metre diamond drilling program at the Wishbone Prospect, following the grant of an Exploration Permit in June 2024 valid through 2027. Previous work confirmed compelling VMS-style mineralisation, including 27.3m of massive sulphide and 51m of sulphide-dominated mineralisation across multiple lenses, supported by high-grade copper anomalies in lake sediments.

In July 2024, Panther secured an Exploration Permit for Awkward West, enabling up to 31 drill holes. Historic drilling returned 27.2m at 2.25% TGC, with zones exceeding 5% TGC, alongside indications of nickel, copper, and platinum group elements, aligning with the Company's critical minerals strategy.

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