Two New Gold Targets Identified at Bido Project

19 November 2020

Panthera Resources Plc

(Panthera or the Company)

Two New Gold Targets Identified at Bido Project

Panthera Resources Plc (AIM: PAT), the diversified gold exploration and development company with assets in West Africa and India, is pleased to announce it has identified two new gold exploration targets at its Bido Project, located in the prolific Boromo greenstone belt within the Birimian terrain of Burkina Faso. The new targets, Tiekouyou Rush and Beredo have been identified as a result of the recent site visit to coordinate the planned geochemical gold in soil survey, due to commence later this month.

Highlights

·          A large new target of very recent artisanal mining activity identified at Tiekouyou Rush

·          Artisanal activity already covers an area of approximately 170m x 170m

·          Artisanal mining activity targeting both quartz veins and altered dolerite

·          Tiekouyou Rush is in the area proposed for a gold in soil survey commencing today

·          The survey will assist in defining the extent of this newly identified target

In addition, during the recent site visit, an area of quartz veining was identified in the northeast of the planned survey area (Beredo Target).  The zone appears to extend in a north-northeast direction trending from the area of proposed soil sampling.  A detailed review of historical data in this area towards the Bido Vein is currently underway with an update on the findings to be provided shortly.

Mark Bolton, Managing Director of Panthera, commented:

"The identification of the two new targets, before the commencement of the gold in soil survey, adds further weight to the growing importance of the Bido Project for Panthera.  At Bido, several high priority targets have already been identified including Somika Hill, Kwademen, and Kwademen South.

The soil sampling programme is expected to be concluded in late January 2021 and we are currently evaluating a planned geophysical programme as a follow-up.  These results will assist the Company to define and rank drill targets for a subsequent drilling programme across the project in the 1H2021.

As we advance, we will operate under our core values of being socially and environmentally responsible; while working cooperatively with the local community to ensure a positive outcome is realised by all."

A PDF version of the announcement, inclusive of images, can be found on the Company's website or by following the links below:

http://www.rns-pdf.londonstockexchange.com/rns/8467F_1-2020-11-19.pdf

www.pantheraresources.com/news/regulatory-news/

Tiekouyou Rush

During the Company's site visit to Bido earlier this month to obtain the necessary permissions from the local authorities to commence the proposed soil sampling survey in the South-Central area of Bido, a new local artisanal "gold-rush" was encountered (Tiekouyou Rush).  Tiekouyou Rush comprises several hundred artisanal miners over an area of approximately 170m by 170m in the south-central part of the area.

Importantly, the miners appear to be targeting a hard-rock gold source comprising quartz veins and altered "dolerite".  This is encouraging as higher ore grades are required by local artisanal miners when compared with soft saprolitic, alluvial, or laterite hosted mineralisation.  The presence of gold within the host dolerite, as well as within quartz veins, also suggests the potential for a halo style mineralisation as compared to typical quartz vein style mineralisation usually targeted by artisanal miners.

As announced on 13 November 2020, Panthera is set to conduct a soil sampling and geological mapping programme on the area commencing today.  As part of Panthera's commitment to promoting the positive social and economic outcomes of our activities within the communities in which we operate, the Company will conduct its work in harmony with the area's local community who will be able to help provide invaluable assistance and knowledge about various target areas.

Contacts

Panthera Resources PLC

Mark Bolton (Managing Director)

+61 411 220 942

[email protected]

Financial Public Relations

Vigo Communications Ltd

Simon Woods

Chris McMahon

+44 (0)20 7390 0230

Nominated Advisor and Broker

RFC Ambrian

Rob Adamson

Bhavesh Patel

Charlie Cryer      +44 (0) 20 3440 6800

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Qualified Person

The technical information contained in this disclosure has been read and approved by Antony Truelove (BSc (Hon), MAusIMM, MAIG), who is a qualified geologist and acts as the Competent Person under the AIM Rules - Note for Mining and Oil & Gas Companies.  Antony Truelove is the COO of Panthera Resources PLC.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Forward-looking Statements

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes, and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.

**ENDS**