Panther Metals Ltd. announced that assay results have returned a new shallow broad high grade gold zone of 15m at 53.94g/t gold at the Burtville East Gold Project. Burtville East is one of four gold prospects located in the Merolia Gold Project that contains a dominant land holding over some of the region's most prospective and under-explored ground covering an area of 90km2. The prospect area contains historical underground workings, along with mineralized stockpiles of historically rejected material ready for treatment.

Historical grab samples from this altered mineralised zone have returned grades of up to 38.45g/t Au at Burtville East. Historical drilling results include:5m at 23g/t Au, including a peak intercept of 1m at 110g/t (MLJC-49), 8m at 6.7g/t Au (BEAC004), 2m at 6.7g/t Au (MLJC-34), 4m at 5.1g/t Au (BEAC001), and 4m at 3.4g/t Au (BEAC002). An initial first round of drilling, consisting of six reverse circulation (RC) holes for a total 675m drilled, was designed as a first pass program to test the current interpretation of gold mineralisation, and explore for new mineralised positions and structures.

Results above 0.5g/t gold assayed are reported below: BVE001: 1m at 1.14g/t Au from 79m and 1m at 1.25g/t Au from 103m,BVE002: 1m at 73.30g/t Au from 93m and 1m at 0.58g/t Au from 96m, BVE003: 1m at 0.74g/t Au from 72m, BVE004: 4m at 3.36g/t Au from 79m and 1m at 2.07g/t Au from 106m and 1m at 3.41g/t Au from 119m, BVE005: 1m at 0.95g/t Au from 106m, BVE006: 15m at 53.94g/t Au from 27m, including 1m intercepts >10g/t Au: 1m at 79.90g/t Au from 27m, 1m at 478.00g/t from 28m, 1m at 24.30g/t Au from 29m, 1m at 125.50g/t Au from 33m, 1m at 43.80g/t from 34m, 1m at 14.60g/t from 35m, 1m at 11.40g/t from 40m. Burtville East Grab Samples: The Company has taken several confirmatory grab samples from around Burtville East to confirm the validity of historical claims. All grabs returned gold mineralisation. The assay results for each grab sample are displayed below: BE01CP: 21.7g/t Au, BE02F: 0.91g/t Au, BE03: 4.53g/t Au, BE04: 3.55g/t Au.

Eight Foot Well Drill Results: Assay results from Eight Foot Well have also been received. Results above 0.5g/t gold assayed are reported below: RFRC017: 1m at 0.68g/t Au from 28m, RFRC027: 1m at 0.71g/t Au from 60m, RFRC029: 2m at 3.34g/t Au from 99m, inc. 1m at 5.22g/t Au, RFRC031: 1m at 0.56g/t Au from 76m. The Company will undertake an internal review based on these results for any potential learnings arising from the Eight Foot Well drill campaign.

However, concerning future gold exploration the Company will now remain focussed on following up the stunning results at Burtville East and exploration of its other Merolia Gold prospects, Ironstone Gold and Comet Well, including the as-yet untested 40 Mile Camp gold prospect.