Announcement • Jul 10
Panther Metals plc Provides Update on Wishbone Drill Programme at Obonga Project Panther Metals Plc provided an update in relation to the Phase 1 diamond drill programme at the Wishbone volcanogenic hosted massive sulphide prospect on the Company's Obonga Project located upon the Obonga Greenstone Belt, Ontario, Canada. The Company's drilling contractor is commissioning a second diamond core drill rig in advance of it mobilising to the Obonga site from Manitoba. Once onsite the additional drilling capacity will accelerate exploration past the originally planned 2,000 metre drilling budget. The first diamond core drill hole (BR26-WB-P1-1) at Wishbone, successfully attained the planned downhole depth of 300m, it intersected nine distinct zones of massive, semi-massive and iron-silicate dominated sulphide mineralisation commencing at a downhole depth of 77.75m to a downhole depth of 245m. These intersections included 3.45m of pyrrhotite dominated massive sulphide and 9.9m of semi-massive sulphide from 77.75m downhole depth. Between 98m to 105m downhole depth, visual core logging has identified sulphide rich metasediments interpreted as greenalite exhalite rocks which may have formed when iron and silica rich hydrothermal fluids mixed with seawater in proximity to the ancient seafloor hydrothermal vents associated with VMS and precious metal mineralisation. These greenalites continued alternating in sulphide tenor from 112.5m to 119m with further pyrrhotite massive sulphide (137m to 139m) and semi-massive sulphide intervals (162m to 172m, 187.5m to 188m and 237m to 240m). The second diamond core drill hole (BR26-WB-P1-2) at Wishbone, has intersected the target VMS horizons along strike to the south with a projected end of hole depth horizontal spacing between the inclined holes of circa 170m. In BR26-WB-P1-2 alternating massive and semi-massive sulphide has been intersected between 63.5m and 78.4m downhole and between 107m and 120m downhole. Alternating sulphide rich metasediments interpreted as greenalite exhalite rocks and semi-massive sulphides continue from 120m to the currently logged core depth of 158m downhole. A further two drill pads have been prepared ready to commence following a scheduled rig maintenance and a fifth drill pad will be ready in advance of the second drill rig arriving onsite. Previous drilling at Wishbone intersected 3.6 metres grading 3.9% zinc, including 2.0 metres at 6.8% zinc and 4.3 g/t silver, with individual assays returning up to 11.65% zinc. The drill core has yet to be cut, sampled and laboratory assayed. The visual core logging of significant widths of sulphide mineralisation coincides with the three-dimensional geophysical inversion model. 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. 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. New Risk • Jun 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 41% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (UK£12.4m market cap, or US$16.3m). Announcement • Jun 18
Panther Metals PLC has filed a Follow-on Equity Offering in the amount of £2.5 million. Panther Metals PLC has filed a Follow-on Equity Offering in the amount of £2.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,851,852
Price\Range: £1.35
Transaction Features: Regulation S; Subsequent Direct Listing 
