Overview of Panther Metals' Coglia Nickel-Cobalt Resource Update

Panther Metals Ltd (ASX: $PNT) is pleased to announce that the Coglia Nickel-Cobalt Resource now stands at 102.8Mt @ 0.60% nickel and 370 ppm cobalt, containing 614kt of nickel and 37.7kt of cobalt (Indicated and Inferred). This represents a 30% increase in total nickel tonnes compared to the maiden 2022 MRE. Confidence in the Resource has greatly increased, with over 23Mt of nickel now classified as Indicated. Deeper extensional drilling has defined two distinct lithologies within the Resource: a lateritic top layer and a deeper weathered ultra-mafic lower layer, the majority of which remains open at depth. The Company is looking forward to positive results from its heap-leach test work and Scoping Study due over the next few months.

Executive Commentary on Coglia Nickel-Cobalt Resource Update

I am thrilled to announce that the updated Coglia Resource now stands at a whopping 102.8Mt @ 0.60% nickel, solidifying its status as a world class nickel-cobalt asset, now sitting in the top 30% by tonnage of deposits worldwide, with room for further growth. Discovered by the Company in June 2022, the Coglia Nickel-Cobalt Project lies within the same Tier 1 nickel region as producer Glencore and ASX-listed developer Alliance Nickel Limited. Coglia is the discovery that keeps on giving, expanding with each drill program while consistently offering up new exploration targets to drill. With updated heap-leach results and a Scoping Study due on the horizon, 2024 continues to look very exciting for Panther Metals.

Summary of Coglia Nickel-Cobalt Resource Update

The updated Coglia Nickel-Cobalt Resource now stands at 102.8Mt @ 0.60% nickel and 370 ppm cobalt, representing a 30% increase in total nickel tonnes compared to the maiden 2022 MRE. Confidence in the Resource has greatly increased, with over 23Mt of nickel now classified as Indicated. Deeper extensional drilling has defined two distinct lithologies within the Resource, offering significant potential for further growth. The Company is eagerly anticipating positive results from its heap-leach test work and Scoping Study, indicating an exciting outlook for Panther Metals in 2024.