Equity Financing Update

Gold exploration and development company Panthera Resources Plc (AIM: PAT), with assets in West Africa and India, provides the following update in respect of the Company's equity financing as announced on 17 June 2024 (the "Equity Financing").

The Company previously announced that it expected that the 18,906,786 new Ordinary Shares will be admitted to trading on AIM on or around 28 June 2024.

Subsequently, commitments have been adjusted with an increase of 76,798 new Ordinary Shares on the same terms as that announced on 17 June 2024. Accordingly, in aggregate, 18,983,584 new Ordinary Shares are anticipated to be issued as part of the Equity Financing.

Split admission

While the Company has received commitments in relation to 18,983,584 new Ordinary Shares pursuant to the Equity Financing, because of settlement delays associated with 1,818,182 new Ordinary Shares, the Company will complete the admission into two tranches.

Accordingly, it is now anticipated that 17,165,402 new Ordinary Shares representing approximately £0.94 million (the "First Tranche") will admit to trading on AIM on or around 28 June 2024 ("First Admission"). The remaining 1,818,182 new Ordinary Shares representing approximately £0.1 million (the "Second Tranche") will admit to trading on AIM on or around 3 July 2024 ("Second Admission").

Broker Options

In addition, the Company has agreed to issue an additional 217,197 unlisted certificated options to advisors to the equity issue, exercisable at a price of 5.5 pence on or before two years from the date of Admission (as defined below) with each option entitling the holder to acquire one new Ordinary Share. Accordingly, taking into account the 758,181 unlisted certificated options announced on 17 June 2024, a total of 975,378 unlisted certificated options will be issued as part of the Equity Financing.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange plc for the 17,165,402 new Ordinary Shares to be admitted to trading on AIM. It is currently anticipated that First Admission will become effective and that dealings in the new Ordinary Shares will commence on AIM at 8.00 a.m. on or around 28 June 2024.

Upon First Admission of the 17,165,402 new Ordinary Shares, the Company's issued ordinary share capital will consist of 193,288,942 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 193,288,942. With effect from First Admission, 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 to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Unless otherwise defined herein, the capitalised defined terms used in this announcement have the same meaning as those used in the Company's announcement on 17 June 2024.