Panoramic Resources Limited (ASX: PAN) ('Panoramic' or the 'Company') is pleased to advise that its wholly owned subsidiary, Savannah Nickel Mines Pty Ltd has executed a three-year processing contract of approximately $34M with leading mineral process engineering firm Primero Group Pty Ltd, a subsidiary of NRW Holdings Limited (ASX: NWH) for the Company's Savannah Mine.

Primero will be responsible for the restart, operation and maintenance of Savannah's existing ore processing plant and non-processing infrastructure at the Savannah Mine. Under the terms of the contract, Primero is incentivised to exceed budgeted mineral recoveries outlined in the Savannah Feasibility Study (refer ASX release 6 April 2021).

The recruitment process, utilising internal and external personnel has been on-going with a particular focus on WA-based candidates and is approximately 75% complete, with all key technical and leadership roles filled. Candidates for the remaining unfilled roles are progressing well. The mobilisation of process-related personnel is expected over the coming months and processing is planned to commence in November 2021 with first shipment of concentrate targeted for December 2021.

Commenting on the contract execution, Managing Director and CEO, Victor Rajasooriar said: 'We look forward to the addition of Primero's expertise at our Savannah Operation in the coming months as they mobilise to site and further bolster the team on the ground. With development and production activities at Savannah underway, early mining activities have progressed well, with grade control drilling starting today. We look forward to a successful relationship with our business partners and are pleased to see Panoramic's site management team and staff executing all activities safely and as planned.'

Contact:

Victor Rajasooriar

Tel: +61 8 6266 8600

About Panoramic

Panoramic Resources Limited (ASX: PAN) is a Western Australian company which owns the Savannah Nickel Project in the East Kimberley. Panoramic successfully commissioned and operated the Project from 2004 until 2016 before the mine was placed on care and maintenance. Following the discovery of the Savannah North orebody, the mine was recommissioned in 2018 before operations were temporarily suspended in 2020. Panoramic has completed an updated Mine Plan for Savannah which has outlined an attractive near-term nickel sulphide mine restart opportunity. Following the completion of a ventilation shaft for the Savannah North deposit, additional underground capital development and ancillary works, the Board of Panoramic approved the restart of Savannah in April 2021 with a target of first concentrate shipment by the end of 2021.

Forward Looking Statements

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