Panoramic Resources Limited provided an update on ongoing infill underground Resource definition drilling at the Company's Savannah Nickel Project in Western Australia. The first phase of the program, which commenced in June 2022, has now been completed. Testing of the Savannah orebody below the 900 Fault has now commenced from the 1425 level drill drive.

Drilling completed to date has tested and infilled the sparsely drilled area of the Savannah orebody located immediately below historical workings and above the 900 Fault has been completed. The program was undertaken from the recently developed 1425 level drill drive providing much improved drill angles to evaluate the Savannah orebody in this area. Results for the completed program above the 900 Fault are now being evaluated and modelled with the results to be incorporated in the next Savannah orebody Mineral Resource Estimate.

In total, the program comprised of 33 drill holes for 4,291m. Drilling of the western section of the area above the 900 Fault was the final portion of the program to be completed. Mineralisation thicknesses intersected throughout the area tested by the program completed above the 900 Fault were consistently better than predicted by the current Savannah resource model.

In addition, significant mineralised extensions along strike and down plunge beyond the limits of the current Savannah resource model were also identified with the mineralisation remaining open down-plunge to west along the 900 Fault. Better drill intercepts returned by the program include: 19.75m at 1.49% Ni, 0.49% Cu and 0.07% Co in KUD1917; 8.95m at 2.36% Ni, 0.56% Cu and 0.11% Co in KUD1918A; 10.25m at 1.50% Ni, 0.18% Cu and 0.07% Co in KUD1919; 9.10m at 2.52% Ni, 1.10% Cu and 0.12% Co in KUD1923; 9.00m at 2.95% Ni, 0.62% Cu and 0.15% Co in KUD1943. The drill results returned by the infill drill program above the 900 Fault are expected to have a significant positive impact on the readily accessible Mineral Resource in this area of the mine which, once converted into an Ore Reserve, will support the development of a second mining front to supplement mining operations at Savannah North.