Exploration Update - Nigeria

8 June 2021

Panthera Resources plc

("Panthera" or "the Company")

Exploration Update - Nigeria

Panthera Resources Plc (AIM: PAT), the diversified gold exploration and development company with assets in West Africa and India, advises that the assay results for the recent drilling at Paimasa, Nigeria will be delayed while certain samples are subject to re-assay by accelerated cyanide leach (LeachWell).

The decision to re-assay many of the samples reflect anomalies between the fire assays and certain check assays that were performed with Leachwell.  The Leachwell sample size is considerably larger and should provide a more reliable assay where there is a coarse gold fraction.

The details of the drilling campaign at Paimasa were announced by the Company on 1 December 2020.  The interest in the project is held through the associated company, Moydow Holdings Limited. 

Contacts

Panthera Resources PLC

Mark Bolton (Managing Director)                                                                              +61 411 220 942

                                                                                                            [email protected]

Allenby Capital Limited (Nominated Adviser & Broker)                              +44 (0) 20 3328 5656

John Depasquale

Financial Public Relations

Vigo Communications Ltd                                                                                    +44 (0)20 7390 0230

Simon Woods / Chris McMahon

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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.

UK Market Abuse Regulation (UK MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of UK MAR 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**