Filing of Preliminary Non-Offering Prospectus

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PANTHER METALS PLC

("Panther" or the "Company")

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

19 October 2026

Filing of Preliminary Non-Offering Prospectus

Panther Metals Plc (LSE: PALM), an exploration company focused on mineral projects in Canada, is pleased to announce that it has filed a preliminary long form non-offering prospectus dated 16 October 2026 (the "Prospectus") with the Ontario Securities Commission (the "Commission") and has applied to the Canadian Securities Exchange (the "CSE") for a secondary listing of its ordinary shares on the CSE in Canada (the "Listing").

The Company's ordinary shares will continue to be listed on the official list of the UK Financial Conduct Authority and traded on the main market for listed securities of the London Stock Exchange plc. The filing of the Prospectus follows the announcement on 16 October 2026 of the closing of the £2.2m "flow through" financing which secured the financial position of the Company to meet the initial listing requirements in respect of the Listing.

Final acceptance of the Prospectus and the Listing are subject to the review and approval of the Commission and the CSE, respectively. The Prospectus contains important information relating to the Company and its currently issued shares capital and is subject to amendment as may be required by the Commission. The Prospectus will be available for review under Panther's profile on the Canadian System for Electronic Document Analysis and Retrieval ("SEDAR+") at www.sedarplus.ca.

The Company believes that the Listing will enable the Company to provide liquidity to its existing shareholders and offer the opportunity to raise additional capital to build out its business and execute its business plans through exposure to a range of new investors on one of the premier public markets for the mining sector. The Company can give no assurances that the Listing will be successful or that, if it is successful, that any significant market for its securities will develop. The Listing will be subject to the Company fulfilling all of the CSE's initial listing requirements and the Company being receipted for a final prospectus with the securities regulatory authorities in the Province of Ontario.

There can be no guarantee that a receipt for the final prospectus will be obtained from the Commission or that the Company will fulfil all of the CSE's initial listing requirements.

The Company also announces that it has prepared, in accordance with the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, a technical report dated 28 July 2026 (the "Winston Lake Technical Report") in respect of the Winston Lake Project located 25 kilometres north of Schriber and 145 kilometres northeast of Thunder Bay in Ontario, Canada. The Technical Report is titled "NI 43-101 Technical Report on the Winston Lake Project, Pays Plat Lake Area NTS42D/14 and was prepared by Mark Puumala, P.Geo. and Andrew Tims, P.Geo. A copy of the Winston Lake Technical Report will be available under the Company's profile on SEDAR+ and a link is available on the Company's website at https://panthermetals.com/investors/presentation. This version of the Winston Lake Technical Report replaces the version of such report filed on May 13, 2026.

This announcement has been authorised by the Board of Directors.

For further information, please contact:

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Cautionary Notes Concerning Forward-Looking Statements

This press release contains forward-looking information. All statements, other than statements of historical fact, that address  activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the Listing, the receipt for the preliminary and final non-offering prospectus from the OSC, and statements relating to the exploration of the Property are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. The Company has made certain assumptions about the forward-looking information, including the ability to receive a  final receipt for its Prospectus and its ability to obtain the Listing on the CSE and timing of these events, the benefits to be derived from being a public company, that the Listing application will be successful, or that if it is successful, that any significant market for its securities will develop. Although the Company's management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate.

Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that planned exploration programs will be delayed, uncertainties relating to the availability and costs of financing needed in the future, activities of the Company may be adversely impacted by the current economic conditions, including the ability of the Company to secure additional financing, the possibility that future development of Company's products and services results will not be consistent with the Company's expectations, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required approvals, and the other risks disclosed under the heading "Risk Factors" in the Prospectus.

Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except if required by applicable laws. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.