Pantera Minerals Limited announce the receipt of assays from all 30 Reverse Circulation ("RC") drill holes completed in November 2022 at the Weelarrana Project ("Weelarrana" or "Project"), located in the Collier Basin of Western Australia. Manganese mineralisation was intercepted on four of the five drill lines over a strike length of 600m and is open to the north and east. The best intercepts are 5m at 12.3% Mn from surface in drill hole WRC001, 3m at 19.7% Mn from 3m in drill hole WRC013 and 2m at 17.1% Mn from 3m in drill hole WRC019. The manganese mineralisation (>6% Mn) is all associated with the zones logged as massive manganese1 with the manganiferous shale returning manganese grades in the range of 2 to 5% Mn. The most consistent manganese mineralisation is developed between drill holes WRC019 to WRC024 with a consistent 1 to 3m horizon of massive manganese returning grades between 6.7% Mn to 17.1% Mn over 250m with a 1m interval in drill hole WRC019 returning a maximum grade
of 24.1% Mn. The manganese mineralisation on this drill line and the adjacent drill line to the east (WRC013 to WRC018) are still open to the north. Significantly, the manganese mineralisation is close to surface and flat lying. The most western drill line (WRC025 to WRC030) appears to close off manganese mineralisation to the west with the logged manganiferous shale becoming more iron dominant with only very minor amounts of manganese present. A soil sampling program was conducted over tenements E52/3891 and E52/4046 targeting fault hosted gold and base metal mineralisation in late December 2022, sampling results expected in late Quarter 2 2023. A total of 136 soil samples and 9 rock chip samples were taken from E52/3891 covered the interpreted position of the Ilgarari Fault to test the area for potential gold and base metal mineralisation. A total of 160 soil samples were taken from E52/4046 over an area of subcropping mafic to ultramafic rock to test the area for potential gold and base metal mineralisation. A total of 35 rock chip samples were taken on tenement E52/4071 from areas of subcropping to outcropping manganiferous shale that correlates with the Balfour Formation which is a known host for manganese mineralisation within the area. Two areas were identified with numerous outcrops of
manganiferous shale with each area measuring approximately 2500m x 1000m.