Panoramic Resources Limited provided an update on ongoing infill underground Resource definition drilling at the Company's Savannah Nickel Project in Western Australia. Key points: Standout drill results returned from below the current mining horizon at Savannah North: 40.5m at 1.96% Ni, 0.75% Cu and 0.15% Co from 200.5m in KUD1891 - 16.0m at 2.08% Ni, 0.80% Cu and 0.16% Co from 170.0m in KUD1871 - Continued drill support for the recently identified Upper Splay from drill hole KUD1827: 0.5m at 1.43% Ni, 0.23% Cu and 0.07% Co from 17.7m (Upper Splay Mineralisation) - 4.4m at 1.05% Ni, 0.21% cu and 0.07% Co from 34.7m (Upper Mineralisation Lens) and - 5.4m at 1.34% Ni, 0.55% Cu and 0.10% Co from 86.7m (Lower Mineralisation Lens) - Drilling in both areas is ongoing with further results expected over the coming months.Savannah North - Resource Definition Drilling: Over recent months the Company has reported results for infill drill holes completed on the Western, Central and Eastern Zones of the Upper Mineralisation Lens at Savannah North. Following on from the last update the drilling focus was temporarily shifted to the area immediately below the current mining levels due to short-term access interactions with mining activities in the immediate area.

Assay results for the first three holes completed in this area have been received and returned with better than expected results with all three holes returning thicker and higher-grade intersections than predicted. The standout drill result was drill hole KUD1891 which returned a combined Upper and Lower Mineralisation Lens intersection of 40.55m at 1.96% Ni, 0.75% Cu and 0.15% Co. The junction (bifurcation) between the Upper and Lower Mineralisation lenses at Savannah North is often an area of increased mineralisation thickness and grade.

The previous best Savannah North intersection near the junction between the two mineralisation lenses was achieved by drill hole KUD1533 in 2015 which returned an intersection of 37.2m at 1.58% Ni, 0.67% Cu and 0.12% Co. The two other completed infill resource definition drill holes below the current mining levels, KUD1871 and KUD1874 returned Upper Mineralisation Lens intersections of 16.0m at 2.08% Ni, 0.80% Cu and 0.16% Co and 6.9m at 1.93% Ni, 1.03% Cu and 0.14% Co, respectively. Both intersections were also thicker and appreciably higher grade than predicted in those areas by the current Savannah North Resource model.

In all three holes completed below the current mining levels, up to two mineralised intercepts are reported above the main Upper Mineralisation Lens intersections. These intercepts relate to minor hanging wall mineralised lenses that in places develop into potentially mineable widths and grades and will be assessed as part of the mine review process.