Panthera Resources Plc advised that the Company has commenced a diamond drilling programme on the Kalaka Project in Mali (Drilling Programme). Highlights: Twin the historical drill holes K1AD001 and K1RC003 to verify the historical drill results and provide material for further metallurgical test work. K1AD001 reported 246.27m @ 0.55 g/t Au (inc 56m @1.02 g/t Au); RC hole K1RC003 reported 161m @0.39 g/t Au and terminated in the mineralisation; Support ongoing next steps to define a maiden JORC compliant mineral resource estimation at the K1A prospect.

At the K1A target area, the Company's Competent Person Report (prepared by Golder Associates Pty Ltd), which was disclosed in the Company's AIM Admission Document, reported that drilling by past explorers defined a potential endowment of 250,000 to 500,000 ounces. Furthermore, Golder Associates Pty Ltd. reported that this represents an exploration target where further infill drilling may lead to the estimation of a Mineral Resource. More recently, follow-up work by Panthera including re- examination of all available drill data at K1A, identified a mineralised envelope that broadly conforms to the potential endowment mentioned by Golder.

This work identifies an exploration target of between 0.5 Moz to 1 Moz gold. Importantly, the Company is yet to drill the northern extension of the mineralisation at K1A together with several similar targets within the project area. Taken together this would potentially expand the exploration target to approximately 3 Moz of gold.

The current drilling programme comprises: drilling two diamond core holes for 640m; holes will be surveyed and orientated to facilitate measurements of structures, veining and geological contacts; holes will be drilled to identify the east and west margins of the ore body, as stylized on the diagram; and it is also planned to undertake additional metallurgical testing of the drill core to advance understanding of gold recoveries properties as follow up to the positive bottle roll tests previously completed.