Warrant Conversion

Gold exploration and development company Panthera Resources Plc (AIM: PAT), with assets in West Africa and India, announces the issue of 1,952,942 new ordinary shares of 1 pence each in the capital of the Company (the "Ordinary Shares"). This follows the Company having received notice to convert warrants over 1,952,942 new Ordinary Shares at an exercise price of 6.68 pence per warrant, raising the Company gross proceeds of £130,456.53.

Details of the terms and conditions of the warrants are outlined in the Company's announcement released on 4 July 2023. Following the conversion of the 1,952,942 warrants, the Company has 9,537,006 warrants outstanding exercisable at a price of 6.68 pence per warrant on or before 10 December 2025.

Application for Admission

Application has been made to the London Stock Exchange plc for the 1,952,942 new Ordinary Shares to be admitted to trading on the AIM ("Admission"). It is expected that Admission will become effective and that dealings in the new Ordinary Shares will commence on AIM at 8.00 a.m. on or around 22 October 2025.

Following Admission, the Company's issued share capital will comprise 248,502,553 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. 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 share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.