Panther Metals PLC Addition to Holdings Around Merolia Gold Project (4339F)

TIDMPALM

RNS Number : 4339F

Panther Metals PLC

16 November 2020

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PANTHER METALS PLC

(Incorporated in the Isle of Man with company number 009753V)

16th November 2020

Panther Metals Adds to Holdings Around the Merolia Gold Project

Panther Metals PLC (LSE:PALM) ("Panther" or the "Company"), the company focused on mineral exploration in Canada and Australia, is pleased to announce it has secured an option over 100% of several licences in the immediate vicinity of the Merolia Gold Project near Laverton, Western Australia, which it is acquiring from White Cliff Minerals Limited (WCN), an ASX-listed exploration company.

Highlights:

-- Panther to acquire tenements E38/3384, E38/3527, E38/3526, E38/3553, and E38/3555 which are to be integrated in to the Merolia Gold Project, with which they are largely contiguous.

-- Cash payment of A$25,000 to be made to Bonanza Resources Pty Ltd and Bluebrook Nominees Pty Ltd to secure the option to acquire these tenements.

-- The option agreement expires on 31(st) July 2021, which can be extended with written agreement between the parties.

-- Commercial terms for Panther Metals Plc, via its 100% owned subsidiary Panther Metals Pty Ltd, to purchase the licenses are to be negotiated during this period.

-- Panther has full access to the licence areas, and can expedite work at its own cost, during the exclusivity period.

Darren Hazelwood, Chief Executive Officer, commented:

"Securing this ground, part of which contains the continuation of the Comet Well gold trend, as Panther Metals moves from explorer to building a resource in Western Australia is a coup for the business and reflects the trust placed in us to execute a strategy which aims to produce a commercially viable project.

We have now combined an area containing outcropping gold mineralisation with a largely unexplored, but highly prospective, land package covering a total of 290km(2) which we believe offers extensive gold exploration potential in one of the most highly regarded locations in the world."

Panther Metals PLC:

   Darren Hazelwood, Chief Executive Officer:      [phone] 

[phone]

   Mitchell Smith, Chief Operating Officer:              [phone] 

Brokers:

SI Capital Limited

   Nick Emerson                                                      [phone] 

Peterhouse Capital Limited

   Guy Miller and Duncan Vasey                             [phone] 

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November 16, 2020 05:44 ET (10:44 GMT)