REG - Panther Metals PLC - Winston Tailings Project: Batch 6 Assay Results
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RNS Number : 0597E Panther Metals PLC 13 May 2026
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PANTHER METALS PLC
("Panther" or the "Company")
(Incorporated in the Isle of Man with company number 009753V)
13 May 2026
Winston Tailings Project: Batch 6 Assay Results
Panther Metals PLC (LSE: PALM), the exploration company focused on mineral
projects in Canada, is very pleased to report the sixth and final batch
("Batch 6") of Vibracore sample assay results for the Winston Tailings Project
near Schrieber, Ontario, Canada. In addition, the assay results of
supplementary samples collected from 49 of the 109 collar locations during the
programme are also provided.
The Vibracore tailings sampling is in support of the Mineral Resource estimate
("MRE") programme, the first of a series of ongoing workstreams progressing to
quantify, evaluate and permit the contained high-grade gold (Au), gallium
(Ga), silver (Ag), zinc (Zn), copper (Cu), indium (In) and cobalt (Co) and
other recoverable minerals located within the historic Winston Lake Mine
tailings storage facility ("TSF").
Key points:
· Sixth and final batch of tailings core sample assay results (Table 1)
received for twenty five Vibracore collar locations (WT-26-022, WT-26-029,
WT-26-040, WT-26-046, WT-26-047, WT-26-048, WT-26-057, WT-26-060, WT-26-064,
WT-26-066, WT-26-067, WT-26-068A, WT-26-069, WT-26-076, WT-26-077, WT-26-078,
WT-26-079, WT-26-084, WT-26-086A, WT-26-087, WT-26-090, WT-26-092, WT-26-094,
WT-26-096 & WT-26-097) situated upon seventeen east-west profiles (Figure
1).
· Assay results for supplementary samples collected during the
Vibracore programme are provided in Table 2. Supplementary samples for a total
of forty nine Vibracore hole locations were collected in numbered sample bags
or sample buckets as opposed to the Vibracore cylinders. Supplementary samples
include material collected by hand auger from the top 30cm of tailings at the
hole collar (in cases where Vibracore recovery at the top of the hole was
unsatisfactory), duplicate sample collected within the hole, and sample
material collected from the bottom section of the Vibracore hole as rods were
pulled and cleaned.
· Assayed Vibracore intersections reported for Batch 6 are taken from
total tailings thicknesses varying between 2.0m to 16.8m (Table 3). The
maximum vertical thickness of tailings (below ice and water) intersected
across the TSF is 16.8m with an average vertical thickness of 8.7m.(1)
· Vibracore samples comprise HQ core (63.5mm) diameter cylinders of
tailings material through the vertical profile of the tailings, collected from
the surface of the tailings (situated below ice and water cover) to the base
of the tailings. Supplementary samples were collected into numbered sample
bags and buckets.
· These final results continue to show good grade consistency across
the vertical depth-profile and laterally between Vibracore hole collar
locations, and support or exceed the 2025 preliminary assay results announced
31 July 2025 and the results announced 17 March 2026, 19 March 2026, 14 April
2026, 28 April 2026 and 11 May 2026. (2,3,4,5,6)
Darren Hazelwood, Chief Executive Officer commented:
"These final, remarkably consistent and exciting assay results mark the
completion of the on-the-ground tailings sampling work at Winston and the
Vibracore results are feeding into the Mineral Resource modelling and
estimation, and metallurgical recovery work streams.
Given the significant power, transport and water infrastructure existing
on-site, and the highly professional ongoing site management by First Quantum,
we anticipate our major costs at Winston, pre-processing plant, are behind us.
The next phase of groundwork will be relatively low-cost, and will concern the
engineering design for the exploitation and reprocessing of the tailings, in
support of our Mining Recovery Permit application.
As we enter this new chapter of exciting work at the Winston Tailings Project,
we are buoyed by the growing interest from potential investment partners and
look forward to providing updates as the work progresses."
Table 1: Winston Tailings Vibracore Sample Assay Results Batch 6
Vibracore Vertical Depth (m) Au Ag Zn* Cu Co Ga In
Hole ID From To (g/t) (g/t) (%) (%) (ppm) (ppm) (ppm)
WT-26-022 1.77 4.77 0.768 13.55 1.260 0.137 328.0 76.4 9.81
4.77 6.27 0.737 13.30 2.360 0.178 257.0 76.1 17.15
6.27 7.77 0.612 13.05 3.280 0.218 271.0 70.2 22.90
7.77 9.27 0.743 14.55 5.120 0.291 287.0 76.5 38.60
9.27 9.53 0.493 10.15 2.410 0.154 214.0 71.8 15.55
WT-26-029 3.27 4.77 0.289 7.45 1.240 0.135 239.0 77.9 10.80
4.77 6.27 0.246 9.09 1.495 0.148 294.0 75.3 10.45
6.27 7.77 0.395 10.65 1.030 0.117 370.0 92.4 12.50
7.77 9.27 0.493 11.20 1.215 0.115 329.0 88.3 10.45
9.27 10.77 0.548 10.10 1.160 0.103 231.0 82.3 9.98
10.77 12.27 0.606 11.40 1.140 0.106 209.0 88.9 9.69
12.27 13.77 0.647 11.35 1.195 0.107 237.0 81.9 9.48
13.77 15.27 0.534 10.40 1.210 0.107 275.0 83.6 9.71
15.27 15.9 0.573 10.95 1.130 0.102 253.0 84.8 8.85
WT-26-040 3.27 4.77 0.792 12.90 1.305 0.228 226.0 107.0 18.55
4.77 6.27 0.469 8.19 0.958 0.120 218.0 69.9 8.22
6.27 7.77 0.541 11.00 1.155 0.122 288.0 86.2 9.80
7.77 9.27 0.503 10.10 0.971 0.120 271.0 93.0 8.22
9.27 10.77 0.633 14.75 0.764 0.103 391.0 99.0 6.99
10.77 12.27 0.551 11.20 0.818 0.113 271.0 83.3 7.44
12.27 13.77 0.469 12.55 1.040 0.109 360.0 91.0 8.58
13.77 14.77 0.490 10.20 0.736 0.093 253.0 77.4 6.29
WT-26-046 4.77 6.27 0.367 5.81 0.775 0.083 128.0 48.1 5.68
6.27 7.77 0.399 9.88 1.300 0.132 312.0 94.4 13.85
7.77 9.27 0.396 8.26 1.275 0.110 374.0 82.5 10.65
9.27 10.77 0.363 8.54 1.215 0.117 332.0 82.2 11.10
10.77 12.27 0.423 9.55 1.245 0.119 329.0 88.8 11.05
12.27 13.77 0.342 8.38 1.285 0.112 277.0 97.6 12.85
13.77 15.27 0.334 8.55 1.345 0.111 320.0 91.2 11.80
15.27 16.77 0.378 10.25 1.480 0.146 447.0 94.6 13.80
16.77 17.14 0.350 14.30 1.920 0.160 423.0 101.0 16.30
WT-26-047 9.27 10.77 0.240 7.94 1.085 0.103 198.0 63.2 7.47
10.77 12.27 0.227 7.98 1.205 0.107 174.0 69.6 10.10
12.27 13.77 0.320 11.40 1.310 0.126 309.0 99.0 12.80
13.77 15.27 0.320 10.25 1.085 0.123 262.0 89.1 11.30
15.27 16.77 0.373 8.90 1.040 0.117 290.0 83.1 10.55
16.77 18.27 0.295 8.45 0.908 0.115 261.0 81.7 10.20
18.27 19.5 0.325 9.28 1.440 0.121 372.0 90.7 13.50
WT-26-048 8.6 10.1 0.252 8.09 1.270 0.112 217.0 72.3 10.35
10.1 11.6 0.221 7.14 0.946 0.092 158.5 70.2 7.13
11.6 13.1 0.232 9.32 1.515 0.123 285.0 84.9 12.40
13.1 14.6 0.326 8.57 1.445 0.115 327.0 92.9 13.25
14.6 16.1 0.347 9.06 1.305 0.116 323.0 87.2 11.50
16.1 17.6 0.450 10.70 1.090 0.120 364.0 86.1 11.00
17.6 19.1 0.382 11.25 1.150 0.120 310.0 93.1 10.30
19.1 20.6 0.329 9.30 1.245 0.120 346.0 82.8 10.90
WT-26-057 19 20.5 0.107 3.42 0.985 0.099 56.2 23.6 7.90
WT-26-060 3.4 4.9 0.255 8.05 1.175 0.112 225.0 62.8 7.28
4.9 6.4 0.287 9.18 1.770 0.138 344.0 93.7 16.20
6.4 7.9 0.215 8.04 1.770 0.117 363.0 88.4 16.65
7.9 9.4 0.297 10.80 1.615 0.126 468.0 115.5 17.30
9.4 10.9 0.331 12.80 1.755 0.205 526.0 103.5 19.20
10.9 12.4 0.371 13.45 2.020 0.153 462.0 95.2 18.00
12.4 13.9 0.384 14.60 1.715 0.122 350.0 93.0 13.95
13.9 14.98 0.006 2.58 0.045 0.007 36.2 16.9 0.40
WT-26-064 4.6 6.1 0.576 10.85 1.335 0.149 313.0 89.2 10.95
6.1 7.6 0.673 10.60 1.675 0.172 334.0 85.4 13.30
7.6 9.1 0.335 13.20 1.780 0.158 407.0 109.5 16.30
9.1 10.6 0.332 12.55 1.280 0.117 439.0 97.1 12.45
10.6 12.1 0.555 14.05 0.912 0.107 396.0 91.2 8.48
12.1 13.6 0.612 13.40 0.795 0.105 310.0 88.4 7.13
13.6 15.1 0.545 14.50 0.776 0.114 302.0 93.8 8.31
15.1 16.43 0.578 12.20 1.130 0.120 251.0 71.7 9.19
WT-26-066 2.5 4 0.688 12.45 0.857 0.144 298.0 90.0 7.64
4 5.5 0.589 13.25 0.989 0.105 301.0 82.0 8.88
5.5 7 0.436 13.75 1.235 0.118 459.0 90.1 12.00
7 8.5 0.724 15.80 0.893 0.126 353.0 87.7 8.04
8.5 10 0.684 14.20 0.878 0.123 330.0 85.0 7.90
10 11.5 0.482 11.85 0.770 0.109 312.0 79.9 7.25
11.5 13 0.781 13.05 1.295 0.132 212.0 81.6 9.95
13 14.5 0.939 13.90 1.100 0.128 120.0 92.9 7.20
14.5 15.5 0.958 15.05 1.245 0.126 156.5 94.4 7.96
WT-26-067 2.5 4 0.496 11.45 0.839 0.141 218.0 111.5 9.23
4 5.5 0.543 11.60 0.894 0.141 211.0 112.0 10.15
5.5 7 0.433 16.55 1.235 0.177 488.0 109.0 15.90
7 8.5 0.487 13.25 1.055 0.121 380.0 112.5 11.70
8.5 10 0.553 13.30 1.035 0.123 326.0 101.5 10.40
WT-26-068A 2.5 4 0.466 10.05 1.085 0.117 329.0 96.7 10.85
4 5.5 0.599 10.95 0.946 0.117 322.0 94.2 9.03
5.5 7 0.444 10.55 1.035 0.107 386.0 100.5 10.20
7 8.5 0.424 14.30 1.695 0.158 467.0 112.0 17.90
8.5 9.85 0.406 13.15 1.175 0.115 388.0 104.0 12.90
WT-26-069 4 5.5 0.189 9.90 1.740 0.160 316.0 90.3 15.60
5.5 7 0.358 11.50 1.260 0.110 348.0 93.3 10.50
7 7.95 0.609 11.35 1.390 0.140 267.0 78.1 8.83
WT-26-076 1 2.5 0.570 11.75 1.935 0.198 310.0 74.4 16.40
2.5 4 0.843 16.60 1.395 0.198 349.0 94.8 15.75
4 5.5 0.383 13.40 1.470 0.122 402.0 97.2 13.45
5.5 7 0.441 12.30 1.355 0.126 356.0 92.6 11.70
7 7.95 0.616 12.95 2.120 0.146 369.0 87.4 16.00
WT-26-077 1 2.5 0.511 15.25 0.812 0.122 316.0 86.8 8.19
2.5 4 0.409 13.95 0.970 0.147 411.0 93.2 12.70
4 5.5 0.455 19.40 1.490 0.214 497.0 101.5 17.50
WT-26-078 1 2.5 0.553 12.00 1.500 0.170 333.0 88.6 12.70
2.5 4 0.358 10.00 1.255 0.163 262.0 63.2 10.40
WT-26-079 1 4 0.569 12.85 1.095 0.143 359.0 83.9 9.93
4 5.5 0.281 13.45 1.325 0.124 455.0 92.0 15.05
5.5 7 0.399 11.55 1.090 0.124 361.0 87.4 10.30
WT-26-084 1 2.5 0.299 11.35 1.255 0.123 221.0 85.0 12.25
2.5 4 0.637 15.70 1.180 0.133 359.0 93.1 10.75
4 5.5 0.733 13.25 1.245 0.123 329.0 79.7 9.99
5.5 7 0.932 14.40 2.000 0.165 244.0 78.3 13.90
WT-26-086A 2.5 4 0.752 15.15 1.280 0.148 327.0 92.4 10.75
4 5.5 0.755 10.10 0.805 0.111 268.0 67.2 6.03
WT-26-087 1 2.5 0.956 16.05 1.545 0.199 310.0 87.6 13.10
2.5 4 0.901 16.70 2.170 0.201 356.0 92.9 17.80
WT-26-090 1 2.5 0.779 15.75 1.200 0.137 484.0 99.5 14.75
2.5 4 0.467 14.80 1.205 0.122 394.0 98.0 11.15
4 5.5 0.457 14.40 0.999 0.110 353.0 86.6 7.99
5.5 7 0.625 12.95 1.355 0.115 336.0 86.6 10.95
7 8.95 0.770 12.90 2.410 0.192 292.0 92.7 17.35
WT-26-092 2.5 4 0.449 13.60 1.085 0.140 407.0 102.0 13.45
4 5.5 0.404 14.00 1.265 0.115 384.0 111.0 11.55
5.5 7 0.561 13.25 1.045 0.113 321.0 83.8 9.16
WT-26-094 5.5 7 0.195 10.75 1.100 0.101 162.5 51.9 5.95
7 8.5 0.425 9.83 1.475 0.144 259.0 83.6 14.50
8.5 10 0.391 8.96 1.095 0.123 301.0 76.0 10.25
10 11.5 0.489 9.75 1.175 0.136 242.0 86.6 10.40
11.5 13 0.469 10.15 1.665 0.151 267.0 73.3 15.00
WT-26-096 7 8.5 0.592 10.85 1.185 0.134 252.0 99.3 11.15
8.5 10 0.357 8.58 0.699 0.098 230.0 90.4 8.08
10 11.5 0.442 9.68 0.863 0.112 256.0 95.0 9.27
11.5 13 0.360 8.68 0.751 0.100 259.0 88.8 8.82
13 14.5 0.482 12.20 0.961 0.104 328.0 98.3 9.59
14.5 16 0.482 12.55 0.667 0.095 293.0 91.1 7.18
16 18.65 0.576 13.15 0.646 0.102 301.0 98.0 7.17
WT-26-097 10.15 11.65 0.355 10.60 1.050 0.133 341.0 96.0 11.60
Table Note: Assay results by ALS Laboratory methods ME-MS61, Au-ICP21 (for
gold) and Zn-OG62 (for Zn>1%). * Zinc results >1% Zn by method Zn-OG62,
Zn <1% by method ME-MS61.
Table 2: Winston Tailings Supplementary Sample Assay Results
Vibracore Vertical Depth (m) Au Ag Zn* Cu Co Ga In
Hole ID From To (g/t) (g/t) (%) (%) (ppm) (ppm) (ppm)
WT-26-006 0.73 8.27 0.456 11.65 1.525 0.121 266.0 85.9 12.35
WT-26-010 10.71 13.31 0.379 8.75 2.020 0.116 237.0 92.6 14.90
WT-26-016 7.77 9.27 0.435 11.05 2.810 0.191 271.0 89.3 21.90
WT-26-017 9.27 10.77 0.374 13.75 3.520 0.244 308.0 98.8 27.90
WT-26-022 6.67 9.27 0.520 10.60 2.380 0.157 230.0 77.0 15.55
9.27 9.53 0.668 14.05 5.190 0.258 278.0 79.8 39.50
WT-26-023 6.27 7.77 0.736 12.55 1.210 0.127 304.0 83.9 10.15
7.77 9.27 0.534 11.60 2.260 0.171 284.0 93.1 19.55
WT-26-029 0.73 1.03 0.136 7.76 1.165 0.116 230.0 69.6 9.78
13.4 15.9 0.456 6.03 0.066 211.0 55.3 6.74
WT-26-035 1.05 1.35 0.440 11.10 1.205 0.102 367.0 95.1 12.30
WT-26-037 12.12 15.12 0.704 13.10 1.315 0.125 279.0 106.0 11.10
15.12 17.72 0.489 10.50 1.245 0.106 307.0 91.0 10.40
WT-26-039 10.17 12.67 0.598 12.85 1.345 0.115 324.0 92.2 11.70
12.67 15.27 0.799 13.40 1.230 0.117 306.0 87.6 10.10
WT-26-040 10.67 12.17 0.479 9.93 0.699 0.097 241.0 71.9 5.99
12.17 14.77 0.455 9.96 1.055 0.106 344.0 84.9 9.21
WT-26-041 15.96 17.46 0.439 12.10 1.475 0.115 370.0 87.8 12.00
WT-26-043 12.85 15.45 0.554 12.05 0.917 0.123 313.0 99.3 9.58
WT-26-044 15 16 0.423 12.25 0.994 0.139 420.0 100.5 12.35
16 18.6 0.329 12.10 2.190 0.151 421.0 95.0 18.75
WT-26-045 14.44 15.19 0.327 9.47 1.115 0.106 382.0 90.7 10.00
WT-26-046 12.54 14.54 0.368 12.70 1.385 0.154 455.0 97.9 13.45
14.54 17.14 0.369 14.45 2.010 0.161 443.0 100.5 19.85
WT-26-047 15.4 16.9 0.396 12.00 1.340 0.131 379.0 101.5 12.60
16.9 19.5 0.356 12.80 1.305 0.126 457.0 94.6 12.55
WT-26-048 18 20.6 0.235 10.95 1.635 0.139 418.0 101.5 14.75
WT-26-061 14.3 16.9 0.512 10.35 1.205 0.111 371.0 101.0 10.75
WT-26-063 15 17.6 0.565 10.55 1.085 0.097 330.0 87.8 9.00
WT-26-064 13.83 16.43 0.535 11.95 1.375 0.129 328.0 81.7 10.75
WT-26-066 10 13 0.410 8.57 0.903 0.074 350.0 88.7 6.87
13 15.5 0.469 10.50 2.050 0.105 302.0 73.5 12.45
WT-26-067 7 8.5 0.533 14.05 0.903 0.122 348.0 106.0 9.28
WT-26-068A 7.35 9.85 0.520 13.30 1.290 0.119 352.0 96.5 11.70
WT-26-070A 0.66 0.96 0.304 8.38 1.260 0.113 241.0 71.8 10.85
WT-26-072 0.67 0.97 0.389 8.04 0.823 0.112 320.0 75.3 8.05
WT-26-074 1 1.3 0.303 12.80 1.825 0.171 296.0 107.5 17.85
WT-26-075 0.82 1.12 0.551 8.78 1.990 0.180 187.0 94.4 18.25
14 15.5 0.320 9.14 2.410 0.119 318.0 90.1 20.70
WT-26-076 0.88 1.18 0.774 10.75 2.680 0.236 326.0 69.8 26.70
WT-26-077 0.77 1.07 0.628 17.15 1.360 0.151 324.0 76.1 11.65
WT-26-078 75 1.05 0.446 12.60 1.460 0.184 343.0 79.6 12.00
WT-26-079 0.72 1.02 0.322 7.78 1.370 0.151 253.0 96.1 12.80
WT-26-080 0.95 1.25 0.235 7.32 1.815 0.085 191.5 70.7 13.55
WT-26-082 0.94 1.24 0.328 10.35 1.555 0.161 311.0 92.3 14.55
7.6 10.1 0.264 14.70 3.180 0.236 270.0 93.9 24.50
WT-26-083 0.7 1 0.814 15.40 0.981 0.140 348.0 88.0 9.07
WT-26-084 0.59 0.89 0.349 8.13 1.195 0.123 183.0 64.6 8.82
WT-26-085 0.64 0.94 0.964 23.60 2.560 0.213 620.0 141.0 31.00
WT-26-086A 0.75 1.05 0.810 15.10 0.834 0.136 285.0 93.2 8.47
WT-26-087 0.75 1.05 1.015 16.40 2.140 0.198 253.0 95.3 18.70
WT-26-088 0.82 1.12 0.853 23.10 1.745 0.216 590.0 122.0 24.80
WT-26-089 0.69 0.99 0.492 9.15 1.600 0.141 314.0 69.1 12.65
WT-26-090 0.64 0.94 0.450 9.89 1.380 0.116 287.0 81.7 12.55
WT-26-091 0.73 1.03 0.328 11.80 0.760 0.157 360.0 95.4 10.90
WT-26-092 0.7 1 0.243 12.40 0.806 0.125 328.0 101.5 10.05
WT-26-094 10.5 13 0.550 11.35 1.520 0.145 276.0 90.3 13.20
WT-26-095 12 14.5 0.558 12.00 0.740 0.099 371.0 93.2 6.54
WT-26-101 8.9 11.5 0.242 8.38 1.155 0.155 234.0 67.5 8.43
WT-26-106 16 18.75 0.181 10.10 1.520 0.129 353.0 94.8 14.50
WT-26-109 14 16 0.234 18.40 1.540 0.138 219.0 74.2 13.85
Table Note: Assay results by ALS Laboratory methods ME-MS61, Au-ICP21 (for
gold) and Zn-OG62 (for Zn>1%). * Zinc results >1% Zn by method Zn-OG62,
Zn <1% by method ME-MS61.
Analytical Methods
The certified assay results are by ALS Laboratories using four-acid super
trace multielement method ME-MS61 (four-acid digestion for near-total recovery
across a suite of 48 elements), Au-ICP21 (gold by fire assay with an
inductively coupled plasma atomic emission spectroscopy finish) and Zn-OG62
(four-acid overlimit method for high-grade zinc).
Figure 1: Winston Tailings 2026 Vibracore Sample Result Locations for this
Announcement
Table 3: Vibracore Sample Collar Locations and Tailings Depths
Vibracore Hole ID (#) UTM Northing UTM Easting Collar Elevation (m) Depth to Tailings Surface (m) Depth to Tailings Base (m) Tailings Thickness* (m)
WT-26-001 5424415 473016 464.1 0.7 6.6 5.9
WT-26-002 5424415 473042 463.8 1.3 5.5 4.2
WT-26-003 5424415 473091 463.4 1.1 9.3 8.2
WT-26-004 5424415 473141 463.3 0.9 14.0 13.1
WT-26-005 5424414 473191 464.0 1.0 6.9 5.9
WT-26-006 5424414 473241 463.4 0.7 8.3 7.5
WT-26-007 5424364 473215 463.2 0.8 10.3 9.5
WT-26-009 5424364 473115 463.3 0.6 10.8 10.2
WT-26-010 5424364 473165 463.7 0.6 13.3 12.7
WT-26-011 5424315 473090 464.4 0.6 3.1 2.5
WT-26-011A 5424315 473094 463.3 0.6 3.1 2.4
WT-26-012 5424315 473140 463.7 0.5 11.7 11.2
WT-26-013 5424314 473191 463.4 0.6 7.8 7.2
WT-26-014 5424313 473235 464.2 0.6 4.3 3.7
WT-26-015 5424263 473215 462.9 0.6 6.3 5.7
WT-26-016 5424263 473166 462.8 0.6 10.7 10.0
WT-26-017 5424264 473115 462.8 0.7 11.4 10.7
WT-26-018 5424264 473065 462.8 0.6 4.1 3.5
WT-26-020 5424214 473141 462.8 0.7 9.6 8.9
WT-26-021 5424214 473190 463.7 0.6 5.7 5.1
WT-26-022 5424161 473167 462.9 0.8 9.5 8.8
WT-26-023 5424113 473191 463.0 0.7 9.6 8.9
WT-26-024 5424062 473215 464.4 0.7 5.7 5.0
WT-26-025 5424013 473191 461.3 1.2 2.7 1.5
WT-26-026 5424064 473165 462.1 0.8 6.6 5.8
WT-26-027 5424464 473215 462.8 0.9 9.5 8.6
WT-26-028 5424465 473165 462.5 0.8 6.3 5.5
WT-26-029 5424465 473115 463.6 0.7 15.9 15.2
WT-26-030 5424463 473065 462.6 0.7 11.1 10.4
WT-26-031 5424463 473015 463.2 0.9 12.7 11.8
WT-26-032 5424464 472966 462.4 2.0 10.5 8.5
WT-26-033 5424513 472940 463.2 1.7 7.4 5.6
WT-26-034 5424514 472989 462.6 1.2 16.3 15.1
WT-26-035 5424515 473041 462.7 1.1 14.2 13.1
WT-26-036 5424514 473092 463.2 1.2 11.4 10.2
WT-26-037 5424513 473140 462.9 1.1 17.7 16.7
WT-26-038 5424564 473116 463.4 1.2 13.1 11.9
WT-26-039 5424565 473065 463.6 1.3 15.3 14.0
WT-26-040 5424565 473018 463.8 1.6 14.8 13.2
WT-26-041 5424563 472969 463.5 2.8 17.5 14.7
WT-26-042 5424565 472913 463.0 3.1 10.6 7.5
WT-26-043 5424613 472889 464.0 5.0 15.5 10.5
WT-26-044 5424612 472944 463.6 4.6 18.6 14.0
WT-26-045 5424613 472991 463.5 2.5 15.2 12.7
WT-26-046 5424613 473042 463.9 1.7 17.1 15.4
WT-26-047 5424665 472911 463.4 6.9 19.5 12.6
WT-26-048 5424664 472966 463.7 3.9 20.6 16.8
WT-26-049 5424663 473016 462.7 2.5 14.7 12.2
WT-26-050 5424713 472991 463.7 2.1 13.5 11.4
WT-26-051 5424714 472940 463.5 6.4 19.6 13.2
WT-26-052 5424713 472890 463.8 6.7 17.2 10.5
WT-26-053 5424765 472869 463.2 10.0 16.7 6.7
WT-26-054 5424765 472916 462.1 9.6 16.9 7.3
WT-26-055 5424765 472959 462.8 8.6 15.2 6.6
WT-26-056 5424815 472841 462.6 11.8 15.0 3.2
WT-26-057 5424865 472889 463.0 11.5 20.5 9.0
WT-26-060 5424614 473085 462.6 1.4 15.0 13.6
WT-26-061 5424537 473135 462.6 1.7 16.9 15.2
WT-26-062 5424541 473086 463.3 1.5 9.5 8.1
WT-26-063 5424539 473040 463.4 1.5 17.6 16.1
WT-26-064 5424538 472990 463.0 1.8 16.4 14.7
WT-26-065 5424540 472941 463.0 3.6 8.5 5.0
WT-26-066 5424489 472992 462.9 0.9 15.5 14.6
WT-26-067 5424488 473040 464.6 0.9 10.0 9.1
WT-26-068A 5424489 473098 464.2 1.1 9.9 8.8
WT-26-069 5424437 473191 464.5 0.9 8.0 7.1
WT-26-070A 5424433 473140 463.1 0.7 4.0 3.3
WT-26-071A 5424439 473089 464.7 0.8 11.5 10.7
WT-26-072 5424439 473041 463.0 0.7 7.0 6.3
WT-26-074 5424390 473190 463.2 1.0 8.4 7.4
WT-26-075 5424391 473141 463.5 0.8 15.5 14.7
WT-26-076 5424392 473090 463.7 0.9 8.0 7.1
WT-26-077 5424389 473041 464.0 0.8 5.5 4.7
WT-26-078 5424339 473089 463.8 0.8 4.0 3.3
WT-26-079 5424338 473141 463.4 0.7 7.0 6.3
WT-26-080 5424338 473190 463.1 1.0 8.5 7.6
WT-26-082 5424288 473191 463.2 0.9 10.1 9.2
WT-26-083 5424238 473190 463.0 0.7 7.0 6.3
WT-26-084 5424188 473190 462.8 0.6 7.0 6.4
WT-26-085 5424140 473191 463.8 0.6 10.0 9.4
WT-26-086A 5424081 473191 462.9 0.8 5.5 4.8
WT-26-087 5424038 473190 463.5 0.8 4.0 3.3
WT-26-088 5424190 473142 463.8 0.8 5.3 4.4
WT-26-089 5424242 473088 463.2 0.7 7.4 6.7
WT-26-090 5424239 473140 463.4 0.6 9.0 8.3
WT-26-091 5424289 473090 463.4 0.7 3.7 3.0
WT-26-092 5424289 473140 463.5 0.7 7.0 6.3
WT-26-093 5424590 473091 463.5 1.4 8.5 7.1
WT-26-094 5424590 473042 462.5 1.9 13.0 11.1
WT-26-095 5424589 472991 463.0 1.7 14.5 12.9
WT-26-096 5424590 472941 463.2 4.1 18.7 14.6
WT-26-097 5424590 472892 463.4 6.1 11.7 5.6
WT-26-098 5424638 472890 463.6 2.4 8.5 6.1
WT-26-099 5424638 472940 463.3 5.2 18.7 13.4
WT-26-100 5424638 472991 463.6 1.9 14.5 12.7
WT-26-101 5424639 473040 463.5 1.5 11.5 10.0
WT-26-102 5424690 472990 462.6 2.2 13.1 10.9
WT-26-103A 5424688 472943 462.4 7.1 14.8 7.8
WT-26-104 5424739 472983 463.4 5.3 13.9 8.7
WT-26-105 5424739 472938 463.3 8.4 19.9 11.5
WT-26-106 5424739 472892 463.6 16.0 18.8 2.8
WT-26-107 5424789 472840 463.3 10.9 15.9 5.0
WT-26-108 5424840 472863 463.2 11.3 16.0 4.7
WT-26-109 5424740 472841 463.0 14.0 16.0 2.0
WT-26-008* 5424364 473065 463.7 0.9 1.8 0.9
WT-26-008A* 5424364 473066 463.7 0.6 0.6 0.0
WT-26-019* 5424213 473091 463.0 0.7 2.1 1.4
WT-26-081* 5424340 473221 462.8 - - -
WT-26-081A* 5424341 473222 463.3 - - -
Table Note: UTM Zone 16N NAD83 Datum. WT-26-011A drilled to test for a
suspected false bottom encountered in WT-26-011. Table includes statistics for
all Vibracore holes. Batch 6 and Supplementary Sample Vibracore Hole IDs shown
bold. * Apparent tailings thickness and vertical profile tested by assays may
differ. Depth figures rounded to 1 decimal place. Depth to tailings of
WT-26-001 amended from 0.6m to 0.7m. * Vibracore holes WT-26-008/8A,
WT-26-019 and WT-26-081/081A were not assayed due to nil sample recovery or
the hole entering straight into gravel (WT-26-081/081A).
Further Information
The Winston Tailings Project Vibracore sampling grid comprises a total of 109
collar locations, staggered at a nominal spacing of 50m along east-west fence
lines spaced at 25m north-south, for an effective horizontal sample spacing
averaging either 25m or 35m between fences. Duplicate 'twin' core material was
retrieved at 3 locations, whilst vertical profiles were restarted at 6 of the
locations. The completed sample grid measures up to 904m along the long axis
and up to 230m perpendicular to the TSF long axis.
Vibracore tailings cylinders are logged and sampled by Bayside Geoscience Ltd
in the city of Thunder Bay, with sample batches submitted to ALS Laboratories
for geochemical analysis in support of the Mineral Resource estimate.
The MRE is an integral part of the process to advance the Winston Tailing
Project towards a cashflow proposition and will be based upon the resource
sampling programme, mineralogical and metallurgical testwork and associated
studies. The MRE work will also provide inputs into the Application for
Recovery of Minerals Permit (the "Recovery Permit") process as announced 1
September 2025.(7, 8, 9)
Background
The Winston Tailings Project entails a series of workstreams to quantify,
evaluate and permit the contained high-grade gold (Au), gallium (Ga), silver
(Ag), zinc (Zn), copper (Cu) and cobalt (Co) and other recoverable minerals
located within the historic Winston Lake Mine tailings storage facility
(Figure 2). Based on historic processing recoveries it is believed that a
significant quantity of valuable material was not captured and remains in the
tailing storage facility. Reprocessing the mine tailings, potentially offers
Panther the opportunity to unlock residual metal value and contribute to the
long-term environmental rehabilitation of the Winston Project site.
The Winston Lake Mine was operational from 1988 to 1998, producing
approximately 3.3 million tonnes of ore and yielding zinc, copper, silver, and
gold. Based on historic recoveries from mining activities in the 1980s and
1990s, it is believed that a significant quantity of valuable material remains
in the tailing storage facility.
Source: NI 43-101 Technical Report Feasibility Study for the Superior Zinc and
Copper Project, 2021. Site is connected to high-voltage grid power.
Figure 2: Existing Infrastructure at Winston Tailings Storage Facility
Qualified Person Statement
Technical information in this announcement has been prepared by Nicholas
O'Reilly BSc (Hons) MSc DIC MIMMM (QMR) MAusIMM FGS, a director of the
Company. He has over 20 years' experience in mining, exploration and
development across all major commodities and is a Qualified Person ("QP") as
defined in NI 43-101 and is the Competent Person for UK Listing Rules
purposes.
References
1. Panther Metals PLC, announcement, Winston Tailings
Project: Sample Collection Complete, dated 16 March 2026 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/xjl3qkw
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/xjl3qkw)
)
2. Panther Metals PLC, announcement, Winston Tailings
Project: Batch 1 Assay Results, dated 17 March 2026 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/xo9z89x
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/xo9z89x)
)
3. Panther Metals PLC, announcement, Winston Tailings
Project: Batch 2 Assay Results, dated 19 March 2026 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/w6jpjkx
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/w6jpjkx)
)
4. Panther Metals PLC, announcement, Winston Tailings
Project: Batch 3 Assay Results, dated 14 April 2026 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/wvyzp0w
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/wvyzp0w)
)
5. Panther Metals PLC, announcement, Winston Tailings
Project: Batch 4 Assay Results, dated 28 April 2026 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/xe41yjw
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/xe41yjw)
)
6. Panther Metals PLC, announcement, Winston Tailings
Project: Batch 5 Assay Results, dated 11 May 2026 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/rmgeq2r
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/rmgeq2r)
)
7. Panther Metals PLC, announcement, Winston Tailings
Assays Confirm Gold, Gallium, Silver, Zinc, Copper & Cobalt, Tailings
Sample Assay Results Exceed Expectations, dated 31 July 2025 (
https://polaris.brighterir.com/public/panther_metals/news/rns/story/w00eo6w
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/w00eo6w)
)
8. Panther Metals PLC, announcement, Winston Tailings
Project Update and Warrant Expiry, Permitting Process Commenced. Warrant
Expiry Notice , dated 1 September 2025
( https://polaris.brighterir.com/public/panther_metals/news/rns/story/x20od6r
(https://polaris.brighterir.com/public/panther_metals/news/rns/story/x20od6r)
)
9. Recovery of Minerals Permitting process details
available at https://www.ontario.ca/page/recovery-minerals
(https://www.ontario.ca/page/recovery-minerals)
For further information, please contact:
Panther Metals PLC: +44 (0)1462 429 743
Darren Hazelwood, Chief Executive Officer:
+44 (0)7971 957 685
Brokers:
Optiva Securities Limited +44 (0)20 3137 1902
Christian Dennis
Mick McNamara
Hybridan LLP +44 (0)20 3764 2341
Claire Louise Noyce
SI Capital Limited +44 (0)1438 416 500
Nick Emerson
Obonga Project - Advancing a High-Impact VMS and Critical Minerals District
Panther Metals' Obonga Project in Ontario continues to demonstrate strong
potential as a district-scale exploration opportunity targeting base and
critical minerals. Since acquiring the Obonga Greenstone Belt in July 2021,
the Company has advanced multiple high-priority targets including Wishbone,
Awkward, Survey, Ottertooth, and Silver Rim.
On 9 February 2026 Panther announced plans for an approximately 2,000-metre
diamond drilling program at the Wishbone Prospect, following the grant of an
Exploration Permit in June 2024 valid through 2027. Previous work confirmed
compelling VMS-style mineralisation, including 27.3m of massive sulphide and
51m of sulphide-dominated mineralisation across multiple lenses, supported by
high-grade copper anomalies in lake sediments.
In July 2024, Panther secured an Exploration Permit for Awkward West, enabling
up to 31 drill holes. Historic drilling returned 27.2m at 2.25% TGC, with
zones exceeding 5% TGC, alongside indications of nickel, copper, and platinum
group elements, aligning with the Company's critical minerals strategy.
High-resolution magnetic and electromagnetic surveys continue to refine drill
targeting across Obonga. Survey and Ottertooth remain highly prospective,
hosting multiple untested geophysical anomalies and historic massive sulphide
intercepts.
Winston Tailings Project - Tailings Evaluation and MRE Pathway
Panther Metals' Winston Project represents a near-term, development-focused
opportunity centred on the evaluation of historic mine tailings and has been
the subject of prior technical and commercial assessment involving Extrakt.
Current work is focused on tailings sampling, metallurgical testing, and data
validation to define metal content, recoverability, and support the
preparation of a NI 43-101 compliant Mineral Resource estimate (MRE). This
approach provides a clear value-creation pathway with lower geological risk
than greenfield exploration and aligns with modern reprocessing and critical
mineral's themes.
Dotted Lake Project - Hemlo-Adjacent Polymetallic Opportunity
Panther Metals' Dotted Lake Project, acquired in July 2020, is located
approximately 16km from Barrick Gold's Hemlo Mine, within a well-established
mining region.
Early exploration identified multiple gold and base metal anomalies, with
initial drilling confirming gold mineralisation. In early 2025, follow-up
drilling materially advanced the project, confirming nickel and magnesium
mineralisation within an ultramafic intrusion and identifying a VMS-style
system, significantly expanding the project's polymetallic potential.
The program refined structural controls, extended mineralisation, and
identified multiple new drill targets, positioning Dotted Lake as a
high-upside, multi-commodity exploration asset.
Commercial Strategy - Focused Value Creation
Panther Metals is focused on disciplined, discovery-driven value creation
through efficient capital deployment and technical execution. With Obonga
delivering high-impact exploration, Winston providing a resource-focused
development pathway, and Dotted Lake offering polymetallic upside, the Company
maintains a balanced portfolio aligned with favourable commodity market
conditions.
The Company's strategy is to advance high-quality assets along the most
efficient technical pathway, delivering tangible milestones that underpin
long-term shareholder value.
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