Panthera Resources Plc advised that the Company has commenced a drilling programme on the Bido Project in Burkina Faso (Drilling Programme). Programme comprises 2000 metres of reverse circulation ("RC") drilling; Targeting coincident geochemical and geophysical anomalies on the Beredo-Kiekouyou prospect; Northern drill fence testing the Bido vein, a quartz vein with current orpailleurs activity to 30 metre depths; Central drill fence of holes is targeting a valley between two hills with evidence of past eluvial mining activity along strike to exposed quartz veining; Southern drill fence will test an exposed quartz vein that returned anomalously high gold values from the systematic rock and soil sampling programmes. The Company has been actively exploring the licence for several years culminating in a focused drilling campaign.

The three drill fences will test targets selected by their coincident geophysics, visible quartz veining and orpailleurs activity. As previously reported, the Company continues to advance the potential restructuring of its interest in its West African gold assets inclusive of funding for both this drilling programme and advancing these assets going forward. The Company has now completed the earn-in obligations at Bido in Burkina Faso and now owns an 80% interest in the project.

The Company may acquire the remaining 20% by expenditure of a further USD 1,000,000 on exploration and development within two years, subject to the vendor's rights of a buy-back right of 1% interest in the Tenements and Associated Rights for the price of USD 1,000,000. That work targeted this recently identified volcanic centre (identified from a Remote Sensing Spectral Study conducted by the company), where analysis indicates multiple targets including strong/moderate IP axes defined from interpreted resistive and conductive structures defined by the IP survey are coincident with mapped vein structures, gold in rock samples and artisanal workings. Geological mapping and sampling of outcrop and veins and interpretation of the database identified the drill targets to be tested in this round of exploration drilling.

The proposal is to drill a total of 48 shallow reverse circulation (RC) drill holes along three drill traverses (drill fences), totaling 2,000 m that will target geochemical and geophysical anomalies at the Beredo-KIEkouyou prospect. Specifically, the targets include areas of alteration and stockwork veining interpreted from surface mapping, geochemical sampling and geophysical interpretation. The plan is designed to increase coverage in the shallow sub-surface zones within each of the targets by drilling fences of inclined, 40 m deep overlapping holes.

The northern drill fence of holes will test a combination of surface expressed quartz vein (Bido vein), IP chargeability and IP high resistivity as long as an area with current orpailleur (Photo 1) activities consisting with eluvial workings and shallow shafts (0 to 30 m). In this area gold in rock sampling of the outcropping mineralised vein systems that were coincident with the strong geophysical anomalies returned assays including 42.2g/t Au, 20.0 g/t Au, 13.6 g/t Au, 13.,4 g/t Au and 10.9 g/t Au. The drill fence traverses a valley between two hills where evidence of past eluvial workings is visible in the field and where several good gold occurrences aligned along the strike direction of exposed quartz veining have been identified in the geochemical sampling programs. The southern drill fence of holes will test an exposed quartz vein That returned occurrences of high gold content in systematic rock and soil sampling programmes and is along strike and coincident to an IP high resistivity anomaly.

The target is also the intersection of structures identified in satellite imagery and in the geophysical data that trend NNW-SSE and NNE-SSW, and as such may be a focal point of structural preparation that may host rock alteration with bulk mineralisation potential. The Company has been actively explore the licence for several years culminating on a focused drilling campaign. The company has been actively exploring the license for several years culminating in a focus on a focused drilling campaign.