U.S. Critical Minerals Strategy

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PANTHER METALS PLC

("Panther" or the "Company")

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

29 September 2026

Company Advances U.S. Critical Minerals Strategy 

Panther Metals Plc (LSE: PALM) is pleased to announce that the Company has completed its registration with the United States Federal System for Award Management (SAM.gov) and has been successfully issued with a Unique Entity Identifier ("UEI"). Panther has also been issued a NATO Commercial and Government Entity ("NCAGE") code through the UK Ministry of Defence.

These registrations provide Panther with the identifiers required to engage directly in relevant U.S. Government procurement and funding opportunities and represent another practical step in positioning the Company within the North American critical minerals supply chain.

The Company is currently advancing engagement in relation to its project portfolio in Ontario, Canada, where Panther believes the scale of one opportunity already has the potential to be strategically significant to long-term North American critical mineral supply.

Darren Hazelwood, Chief Executive Officer, commented:

"Obtaining our UEI and NCAGE registrations is a small but important step. Panther is now formally within the system through which we can pursue relevant U.S. Government related opportunities.

Our ambition for the Company is significant. We believe we have the potential scale to warrant engagement at government and industry level and have been encouraged to accelerate this dialogue over recent weeks, particularly as North America looks to strengthen and secure domestic supply chains for critical minerals.

The pieces are now in place to ensure Panther can participate in that process."

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Obonga Project - Advancing a High-Impact VMS and Critical Minerals District

Panther Metals' Obonga Project in Ontario continues to demonstrate strong potential as a district-scale exploration opportunity targeting base and critical minerals. Since acquiring the Obonga Greenstone Belt in July 2021, the Company has advanced multiple high-priority targets including Wishbone, Awkward, Survey, Ottertooth, and Silver Rim.

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.

High-resolution magnetic and electromagnetic surveys continue to refine drill targeting across Obonga. Survey and Ottertooth remain highly prospective, hosting multiple untested geophysical anomalies and historic massive sulphide intercepts.

     Winston Project - Tailings Evaluation and MRE Pathway

Panther Metals' Winston Project represents a near-term, development-focused opportunity centred on the evaluation of historic mine tailings and has been the subject of prior technical and commercial assessment involving Extrakt.

Current work is focused on tailings sampling, metallurgical testing, and data validation to define metal content, recoverability, and support the preparation of a Mineral Resource Estimate (MRE). This approach provides a clear value-creation pathway with lower geological risk than greenfield exploration and aligns with modern reprocessing and critical mineral's themes.

Dotted Lake Project - Hemlo-Adjacent Polymetallic Opportunity

Panther Metals' Dotted Lake Project, acquired in July 2020, is located approximately 16km from Barrick Gold's Hemlo Mine, within a well-established mining region.

Early exploration identified multiple gold and base metal anomalies, with initial drilling confirming gold mineralisation. In early 2025, follow-up drilling materially advanced the project, confirming nickel and magnesium mineralisation within an ultramafic intrusion and identifying a VMS-style system, significantly expanding the project's polymetallic potential.

The program refined structural controls, extended mineralisation, and identified multiple new drill targets, positioning Dotted Lake as a high-upside, multi-commodity exploration asset.

     Commercial Strategy - Focused Value Creation

Panther Metals is focused on disciplined, discovery-driven value creation through efficient capital deployment and technical execution. With Obonga delivering high-impact exploration, Winston providing a resource-focused development pathway, and Dotted Lake offering polymetallic upside, the Company maintains a balanced portfolio aligned with favourable commodity market conditions.

The Company's strategy is to advance high-quality assets along the most efficient technical pathway, delivering tangible milestones that underpin long-term shareholder value.