Winston Tailings Project: Batch 1 Assay Results

In brief · summary, not quotable

Panther Metals PLC has issued a correction notice for its Winston Tailings Project Batch 1 assay results, clarifying that the Gallium (Ga) and Indium (In) data columns were erroneously reversed in a previous announcement. The corrected results, which support or exceed prior preliminary assays, show consistent grades across vertical depths and laterally between four Vibracore hole locations (WT-26-001 to WT-26-004) with tested vertical profiles ranging from 4.15m to 12.20m. This consistency is seen as highly important for predictable processing and scalable production, bolstering confidence in the project's potential for gold, gallium, silver, zinc, copper, and cobalt.

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The following amendment has been made to the 'Winston Tailings Project: Batch 1 Assay Results' announcement (the "Announcement") released on 17 March 2026 at 07:00 under RNS number: 8638W.

In the Announcement, the data columns for Gallium (Ga) and Indium (In) were erroneously reversed during formatting which has been corrected in the restated announcement below. Corrected Table 1 in this release shows corrected columns.

All other details remain unchanged.

Winston Tailings Project: Batch 1 Assay Results

Panther Metals Plc (LSE: PALM), the exploration company focused on mineral projects in Canada, is very pleased to report the first batch of Vibracore sample assay results for the Winston Tailings Project near Schrieber, Ontario, Canada.

Key points:

First batch of tailings core sample assay results (Table 1) received for four Vibracore collar locations (WT-26-001, WT-26-002, WT-26-003 & WT-26-004) situated on part of a single east-west profile (Figure 1), varying in thickness from 4.15m to 12.20m (Table 2).
Results show good grade consistency across the vertical depth-profile and laterally between Vibracore hole collar locations.
The results support or exceed the 2025 preliminary assay results announced 31 July 2025.1

Darren Hazelwood, Chief Executive Officer commented:

"The continuity of mineralisation and grade we are seeing gives us increasing confidence in the underlying potential of the project. Historical mining records from the Winston Lake Mine indicate the deposit was characterised by a very uniform distribution of mineralisation, and while our current results remain early-stage, we are already seeing encouraging signs that this pattern is being mirrored in the tailings.

For us, that consistency is extremely important. An even spread of mineralisation supports the potential for predictable processing and scalable production, which is exactly what you want to see when developing a strong production story. "

Table 1: Winston Tailings Vibracore Sample Assay Results Batch 1

	Vibracore Hole ID	Vertical Depth	Au (g/t)	Ag (g/t)	Zn (%)	Cu (%)	Co (ppm)	Ga (ppm)	In (ppm)
								From (m)	To (m)
WT-26-001	0.7	2.05	0.889	15.85	1.185	0.186	347	107	13
	2.05	3.55	0.683	16.55	1.24	0.161	321	94	14
	3.55	6.55	0.461	15.5	1.565	0.118	453	102	16
WT-26-002	1.3	2.05	0.488	15.05	1.18	0.111	277	80	12
	2.05	3.55	0.438	12.15	1.605	0.128	305	78	16
	3.55	5.05	0.383	16.15	1.44	0.172	463	104	19
	5.05	5.45	0.48	8.19	0.687	0.086	275	62	6
WT-26-003	1.07	2.05	0.424	9.28	1.2	0.109	257	81	11
	2.05	3.27	0.558	12.5	0.84	0.128	270	85	9
	3.27	4.77	0.513	18.7	1.22	0.188	442	108	17
	4.77	6.27	0.345	12.5	1.625	0.120	388	107	17
	6.27	7.77	0.516	11.25	2.1	0.136	360	103	18
	7.77	9.27	0.565	10.85	2.85	0.148	311	97	28
WT-26-004	1.77	3.27	0.39	9.27	1.57	0.171	252	81	18
	3.27	4.77	0.251	7.77	1.17	0.125	267	81	11
	4.77	6.27	0.486	15.65	1.39	0.158	434	106	16
	6.27	7.77	0.715	13.1	1.225	0.100	271	96	9
	7.77	9.27	0.561	10.85	1.515	0.135	269	92	12
	9.27	10.77	0.528	10.2	1.35	0.100	265	90	10
	10.77	12.27	0.502	11.55	2.11	0.103	296	96	14
	12.27	12.47	0.671	11.9	1.545	0.113	272	94	12
	12.47	13.97	0.785	11.8	1.57	0.119	242	92	11

Table Note: Assay results by ALS Laboratory methods ME-MS61, Au-ICP21 and Zn-OG62

Table 2: Vibracore Sample Collar Co-ordinates

Hole ID	UTM Northing	UTM Easting	Elevation (m)	Vertical Profile Tested (m)
WT-26-001	5424415	473016	464.1	5.85
WT-26-002	5424415	473042	463.8	4.15
WT-26-003	5424415	473091	463.4	8.20
WT-26-004	5424415	473141	463.3	12.2

Table Note: UTM Zone 16N NAD83 Datum

Analytical Methods

The certified assay results are by ALS Laboratories using four-acid super trace multielement method ME-MS61 (four-acid digestion for near-total recovery across a suite of 48 elements), Au-ICP21 (gold by fire assay with a inductively coupled plasma atomic emission spectroscopy finish) and Zn-OG62 (four-acid overlimit method for high-grade zinc).

Figure 1: Winston Tailings 2026 Vibracore Sample Result Locations for this Announcement

Left: Photo of HQ (63.5mm) diameter, clear plastic sample collection cylinders containing tailings material from Vibracore hole WT-26-001

Above: Photo of core tailings material once removed from the plastic cylinder and sawn in half for sampling. One half submitted for assay, one half retained for future studies (Vibracore hole WT-26-004).

Figure 2: Photographs of Vibracore Sample Cores, Prior to Cutting and After Cutting

Background

Figure 3: Existing Infrastructure at Winston Tailings Storage Facility

References

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

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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Commercial Strategy - Focused Value Creation

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.