Panthera Resources Plc advised that the Company and its joint venture partner, DFR Gold Inc. (DFR) has commenced a drilling programme on the Kalaka Project in Mali (Drilling Programme). The Drilling Programme will target extensions of the K1A prospect together with several new targets that extend to the north. Two drill holes will complement existing diamond and reverse circulation (RC) drilling at the K1A mineralisation and be utilised for resource estimation and metallurgical testing; and Step-out drilling on the northern two thirds of strike potential of this prospect targeting the untested interpreted geophysical mineral trend.

A broad soil anomaly above 30 parts per billion (ppb) Au covers most of the metasediments on the tenement area and is estimated to offer significant opportunity for further discovery and extension to known mineralisation. The programme of in-fill drilling at the K1A prospect, may, if results are positive, provide sufficient data to report a maiden Mineral Resource estimate under either JORC or NI43-101. Historical drilling consistently reported significant gold intercepts including Diamond hole K1AD002 (191.8m @ 0.52 g/t Au) and Reverse Circulation drill hole K1ARC028 (117m @ 0.59 g/t Au including 41m @ 1.02 g/t Au) at the K1A prospect.

The programme of in- fill drilling at the K1A prospects may also provide sufficient data to report a first Mineral Resource estimate. The drilling programme is expected to be completed this month with assay results expected in September 2023.