RCS - Panther Metals PLC - 2025 Review of Year

Panther MetalsAnnouncement

24/12/2025 07:00

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RNS Number : 7109M  Panther Metals PLC  24 December 2025

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FOR IMMEDIATE RELEASE

 

PANTHER METALS PLC

("Panther" or the "Company")

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

24 December 2025

2025: Year in Review

Panther Metals PLC (LSE: PALM), the exploration company focused on mineral
projects in Canada, is pleased to provide a review of Company activities and
progress during 2025 and the positive outlook for 2026.

As we close out 2025, the Board would also like to thank Panther's
shareholders, partners and Canadian stakeholders for their continued support
and engagement throughout the year. We extend our sincere appreciation to the
wider Panther Metals team for their commitment and dedication.

We wish everyone a very merry Christmas and a happy, healthy and successful
New Year, and we look forward to building on the momentum achieved in 2025 as
we move into an exciting year ahead.

Darren Hazelwood, Chief Executive Officer commented:

""We delivered a very strong finish to 2025, with significant progress made
across the portfolio. A great deal of work has been undertaken throughout the
year, much of which we expect to be recognised in 2026 as projects continue to
mature.

Industry engagement has been strong, and we further strengthened our corporate
and institutional network, enhancing our reach, technical depth and market
connectivity. Investor recognition of our developments has increased, and
importantly, our assets have moved forward both technically and strategically.

I would also like to thank the entire Panther team for their commitment and
support of the vision, which is now beginning to play out. As we look ahead,
our focus remains firmly on delivering against our own KPIs - advancing our
projects, implementing our financial strategy and positioning Panther Metals
for sustainable growth."

Summary and Outlook

2025 marked a year of tangible delivery for Panther. Across the portfolio, the
Company advanced its assets materially - refining geology, progressing
metallurgical work and moving key projects closer to development. The progress
made during the year has strengthened confidence in the quality of the
portfolio and the long-term value it can deliver.

Throughout 2025, Panther has built increasing momentum. Industry engagement
intensified, investor interest grew, and the Company consistently executed
against its objectives. With assets moving forward technically and
strategically, Panther exits the year in a stronger position, with growing
recognition of the progress being made and the opportunity ahead.

With multiple catalysts ahead, clearer pathways toward cash flow, and a
defined growth strategy - including the planned dual listing - Panther enters
2026 well positioned for a transformational year. The foundations laid and
progress achieved in 2025 set the stage for accelerated delivery, value
creation and growth in the year ahead.

Strategic Progress & Project Work

Throughout 2025, the Company has continued to focus on building and advancing
the Canadian exploration and early-stage development portfolio, including the
Wishbone Prospect on the Obonga Project, the Winston Mine tailings project,
and Dotted Lake. The year was characterised by steady technical progress,
target refinement and de-risking work designed to support future value
creation.

·    Wishbone Prospect (Obonga Project)

On the Obonga Project, geophysical surveying and modelling work focussed on
the Wishbone Prospect, where Panther previously discovered a substantial
volcanic massive sulphide ("VMS") mineralisation system prospective for
hosting base metals and critical elements. The geophysical survey work,
geological interpretation and three-dimensional inversion modelling has helped
refine targets, and the company continues to focus on expanding its
understanding of the mineralised system to support planned exploration success
in 2026.

 

·    Winston Tailings Project

At the Winston Tailings Project work is focussed on unlocking the value
contained within precious and critical metals within the historical processing
tailings material from the Winston Lake mine. Sampling and technical studies
undertaken during the summer established the tailings contain significant gold
(Au), gallium (Ga), indium (In), silver (Ag), zinc (Zn), copper (Cu) and
cobalt (Co) amongst other potentially recoverable metals. Independent
consultants have been appointed to deliver a Mineral Resource estimate - a key
milestone for the project.

 

·    Dotted Lake - Ultramafic Metallurgical Assessment

At Dotted Lake, the drill core assay results in Q1 2025 delivered important
technical insights, confirming the layered ultramafic intrusion hosts
significant mineralisation, and reinforcing the strategic importance of the
project. While not yet announced publicly, Panther has been advancing
interpretive studies behind the scenes and independent laboratory
metallurgical characterisation and recovery testwork is currently being
scheduled.

Finance & Capital Management

Panther raised additional funds during the year through placings and a retail
offer on the Winterflood Retail Access Platform (WRAP) platform. The capital
raised has strengthened the balance sheet and is supporting ongoing project
work. During the year the Company also explored alternative financing and
treasury strategies, reflecting a flexible and opportunistic approach.

Looking Ahead to 2026

As Panther moves into 2026, the focus is on positioning for both near-term
momentum and long-term growth.

The Company is progressing plans for a dual listing in North America, which
will provide access to a larger capital pool, and exposure to a significantly
bigger market for the exploration sector. The improved North American
visibility and broader investor base should support both the short-term
engagement and long-term growth objectives.

Alongside this, the development of a robust cash flow model is a central
priority, with emphasis on advancing assets and strategies capable of
underpinning sustainable value creation.

Operationally, Panther will continue to build on the discovery at Obonga,
while progressing metallurgical, resource and technical work across the wider
portfolio.

 

For further information, please contact:

 Panther Metals PLC:                          +44 (0)1462 429 743

 Darren Hazelwood, Chief Executive Officer:   +44 (0)7971 957 685

 Brokers:
 Hybridan LLP                                 +44 (0)20 3764 2341

 Claire Louise Noyce
                                              +44 (0)1438 416 500

 SI Capital Limited

 Nick Emerson

 

Obonga Project - Expanding Canada's Next VMS and Critical Minerals District

The Panther Metals Obonga Project in Ontario continues to demonstrate
significant potential as a leading exploration initiative targeting both base
and critical minerals. Since acquiring the Obonga Greenstone Belt in July
2021, the Company has rapidly advanced five high-priority targets: Wishbone,
Awkward, Survey, Ottertooth, and Silver Rim.

In June 2024, Panther secured a key Exploration Permit for the Wishbone
Prospect, valid through 2027, authorizing extensive drilling and geophysical
surveys. Previous campaigns confirmed compelling volcanogenic massive sulphide
(VMS)-style mineralisation, highlighted by intercepts such as 27.3m of massive
sulphide and 51m of sulphide-dominated mineralisation with multiple
mineralised lenses. High-grade copper anomalies in lake sediment further
enhance the prospectivity of this landmark target.

July 2024 saw Panther awarded an Exploration Permit for Awkward West,
supporting an aggressive exploration program including up to 31 drill holes.
Historic drilling here revealed notable graphite mineralisation-27.2m at 2.25%
Total Graphitic Carbon (TGC) with zones exceeding 5% TGC-alongside promising
signs of nickel, copper, and platinum group elements, aligning with Panther's
strategic focus on critical minerals.

Additional exploration efforts include high-resolution magnetic geophysical
surveys across key prospects, optimizing drill targeting and advancing the
geological model. Survey and Ottertooth remain highly prospective, with
multiple magnetic and electromagnetic anomalies and historic intercepts of
massive sulphides, many targets still largely untested.

Obonga's combination of VMS-style base metals and critical mineral potential,
situated in a stable and mining-friendly jurisdiction with strong
infrastructure, positions Panther Metals to unlock a district-scale mineral
system with significant commercial upside.

 

Dotted Lake Project - Hemlo-Adjacent Gold Opportunity with Growing Momentum

The Panther Metals Dotted Lake Project, acquired in July 2020, lies just 16km
from Barrick Gold's renowned Hemlo Mine, in one of Canada's premier
gold-producing regions. The project offers a strategically located and
scalable gold exploration play.

Initial soil sampling in 2021 identified numerous gold and base metal targets,
and subsequent access improvements facilitated an initial drilling program
that confirmed gold mineralisation with anomalous values extending along
strike.

In early 2025, Panther completed a follow-up campaign featuring detailed
geological mapping, trenching, and targeted diamond drilling. These efforts
extended mineralisation both laterally and at depth, identified new structural
controls, and reinforced the potential for a broader, high-grade gold system.
Multiple zones have been prioritised for expanded drilling, underscoring
Dotted Lake's significant upside.

The project's proximity to established infrastructure and Hemlo's extensive
mining operations, combined with robust recent results, makes Dotted Lake a
key asset in Panther's growth portfolio.

Commercial Strategy - Discovery-Driven Value Creation

Panther Metals is committed to creating substantial shareholder value through
focused exploration and disciplined capital management. The Company combines
deep geological expertise with an understanding of market and financing
dynamics to advance high-potential projects efficiently.

With access to a global network of industry leaders and a rigorous operational
focus on drilling, Panther prioritises activities that directly contribute to
discovery and resource growth. The drill hole remains the ultimate validation
in mineral exploration, and Panther's strategy is to fast-track world-class
targets into drill-ready assets - delivering tangible results that underpin
long-term value creation for shareholders.

 

 

 

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