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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 31st 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 290km2 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: +44(0) 1462 429 743
+44(0) 7971 957 685
Mitchell Smith, Chief Operating Officer: +1(604) 209 6678
Brokers:
SI Capital Limited
Nick Emerson +44(0) 1438 416 500
Peterhouse Capital Limited
Guy Miller and Duncan Vasey +44(0) 20 7469 0930