Membership - Defense Industrial Base Consortium

(LSE:PALM) Panther Metals Plc has been awarded membership of the United States Defense Industrial Base Consortium (DIBC). This membership provides Panther Metals Plc with access to U.S. Government defence procurement and funding opportunities, particularly those focused on strengthening strategic supply chains, including critical minerals. The DIBC supports U.S. Government defence procurement initiatives that address vulnerabilities within the defence industrial base, including through competitive solicitation programmes. Since its inception, the DIBC has awarded more than US$410 million in funding across a range of projects supporting the U.S. defence industrial base, including critical mineral supply chains. Panther Metals Plc believes its Ontario-based critical minerals portfolio positions the company as a credible candidate for consideration under future DIBC procurement and funding programmes. Following confirmation of its membership, Panther Metals Plc intends to actively engage with the DIBC and pursue relevant procurement and funding opportunities by submitting proposals in response to critical mineral solicitations. Darren Hazelwood, Chief Executive Officer, stated that membership of the DIBC is an important step in positioning Panther within the U.S. Government's critical minerals procurement and funding framework. He emphasized the company's ambition and the potential scale of its mineral assets, noting that Panther is now positioned to participate directly in programmes designed to deliver strategic mineral supply chain solutions. Hazelwood also highlighted recent encouraging dialogue and stated that the company's focus now turns to execution.

Obonga Project: Wishbone Drill Programme Update

(LSE: PALM) Panther Metals Plc announced an update on its Phase 1 diamond drill programme at the Wishbone VMS prospect on the Obonga Project, located on the Obonga Greenstone Belt, Ontario, Canada. The first drill hole (BR26-WB-P1-1) reached a planned downhole depth of 300m, intersecting nine distinct zones of sulphide mineralisation, including 3.45m of pyrrhotite dominated massive sulphide and 9.9m of semi-massive sulphide from 77.75m downhole. The second drill hole (BR26-WB-P1-2) intersected target VMS horizons with a projected end of hole horizontal spacing of circa 170m between inclined holes, with alternating massive and semi-massive sulphide between 63.5m and 78.4m, and 107m and 120m downhole. 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 up to 11.65% zinc. Panther secured an Exploration Permit in June 2024 valid through 2027 for a 2,000-metre diamond drilling program at Wishbone, and a permit for Awkward West enabling up to 31 drill holes. The company projects that the additional drilling capacity will accelerate exploration past the originally planned 2,000 metre drilling budget.

Obonga Project: Diamond Drilling Programme Update

(LSE: PALM) Panther Metals PLC announced an update on its ongoing diamond drilling programme at the Obonga Project, located on the Obonga Greenstone Belt, Ontario, Canada. The first drill hole at the Awkward Conduit Target was completed to a vertical depth of 401m, intersecting the targeted intrusive, and drilling has commenced at the Wishbone VMS Prospect with a planned 300m deep inclined hole, currently at a downhole depth of 68m. Panther's previous drilling at Wishbone included a 27.3m wide intercept of massive sulphide mineralisation and a 51m sulphide-dominated intersection, with further 2022 drilling intersecting 3.6m @ 3.9% Zn (including 2m @ 6.8% Zn, 4.3 g/t Ag, and 0.19% Cu). The company secured an Exploration Permit for Awkward West in July 2024, enabling up to 31 drill holes, and announced plans for an approximately 2,000-metre diamond drilling program at Wishbone following the grant of an Exploration Permit in June 2024 valid through 2027. Historic drilling at the Sturgeon Lake VMS Camp, 75km west, produced 19.8Mt @ 8.50% Zn, 1.06% Cu, 0.91% Pb & 119.7g/t Ag. The company projects further updates as the 2026 drill programme progresses and continues to refine drill targeting across Obonga with high-resolution magnetic and electromagnetic surveys. Panther Metals' Dotted Lake Project, acquired in July 2020, is located approximately 16km from Barrick Gold's Hemlo Mine, and follow-up drilling in early 2025 confirmed nickel and magnesium mineralisation and identified a VMS-style system.

Obonga Project: Awkward Drill Programme Update

(LSE: PALM) Panther Metals Plc announced an update for the ongoing drill programme at the Awkward Conduit Target within the Obonga Project, located upon the Obonga Greenstone Belt, Ontario, Canada. The company has intersected broad intervals of disseminated and veined sulphides hosted within a varitextured gabbroic mafic-ultramafic intrusive system, interpreted to be within a potential magma conduit environment. Portable XRF readings from sulphide-rich intervals returned elevated anomalous nickel and cobalt values, with sulphides visually dominated by pyrrhotite. Since acquiring the Obonga Greenstone Belt in July 2021, Panther 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 27.3m of massive sulphide and 51m of sulphide-dominated mineralisation across multiple lenses, supported by high-grade copper anomalies in lake sediments. The company projects further advancement of the Obonga Project as a district-scale exploration opportunity targeting base and critical minerals.

Winston Tailings Project: Batch 6 Assay Results

Panther Metals PLC (LSE: PALM) announced the sixth and final batch of Vibracore sample assay results for the Winston Tailings Project near Schrieber, Ontario, Canada. The results cover 25 Vibracore collar locations and supplementary samples from 49 of 109 collar locations. Assayed intersections reported for Batch 6 are from tailings thicknesses varying between 2.0m to 16.8m, with a maximum vertical thickness of 16.8m and an average of 8.7m. The results continue to show good grade consistency and support or exceed previous assay results. These findings are feeding into Mineral Resource modelling and metallurgical recovery work streams for the project.

Drilling/Production Report

Panther Metals PLC (LSE: PALM) announced the fifth batch of Vibracore sample assay results for the Winston Tailings Project near Schrieber, Ontario, Canada. The results cover twenty seven Vibracore collar locations and show good grade consistency across the vertical depth-profile and laterally between hole collar locations. Assayed intersections reported for Batch 5 are taken from total tailings thicknesses varying between 1.5m to 15.2m, with a maximum vertical thickness of 16.8m and an average of 8.7m. The results support or exceed previous preliminary assay results and are part of ongoing work to quantify, evaluate, and permit high-grade gold, gallium, silver, zinc, copper, indium, cobalt, and other recoverable minerals in the historic Winston Lake Mine tailings storage facility.

Obonga Update: Drill Pad Preparation

Panther Metals PLC (LSE: PALM) has commenced drill pad preparations at the Obonga Project in Ontario, Canada, targeting the Wishbone VMS and Awkward Conduit prospects. The company holds valid exploration permits for both targets, with Wishbone's permit valid through 20 June 2027 and Awkward's through 17 July 2027. Previous drilling at Wishbone intersected up to 11.65% Zn, and at Awkward, historical sampling returned up to 1.23 g/t Pd+Pt. Panther plans an approximately 2,000-metre diamond drilling program at Wishbone and up to 31 drill holes at Awkward West, supported by high-resolution geophysical surveys. These developments are significant as they advance Panther's critical minerals exploration strategy in Canada.