Pantoro Limited announced that drilling at the Lamboo PGE Project has commenced for the 2022 field season. Drilling completed in 2021, prior to the wet season, identified large zones of PGE and nickel mineralisation within the basal contact zone of the Lamboo Ultramafic sequence. Over 20 kilometres of the prospective basal contact zone exists on the tenements.

Holes previously reported during 2021 returned encouraging nickel assays. Full results including Pt+Pd+Au (3E), nickel and cobalt grades include: 100 m @ 1.10 g/t Pt+Pd+Au (3E); 0.38% Ni and 0.022% Co from surface inc. 66 m @1.34 g/t Pt+Pd+Au (3E), 0.44% Ni and 0.026% Co from surface. 46 m @ 1.11 g/t Pt+Pd+Au (3E), 0.40% Ni and 0.024% Co from surface.

22 m @ 1.11 g/t Pt+Pd+Au (3E), 0.60% Ni and 0.052% Co from surface. 31 m @ 0.90 g/t Pt+Pd+Au (3E), 0.34% Ni and 0.020% Co from 36 m. 30 m @ 1.02 g/t Pt+Pd+Au (3E), 0.54% Ni and 0.033% Co from 3 m. 29 m @ 0.74 g/t Pt+Pd+Au (3E), 0.20% Ni and 0.013% Co from 60 m. 22 m @ 0.74 g/t Pt+Pd+Au (3E), 0.25% Ni and 0.014% Co from 15 m. 5 m @ 1.87 g/t Pt+ Pd+Au (3E), 0.20% Ni and 0.012% Co from 153 m. 4 m @ 1.75 g/t Pt+Pd+Au (3E), 0.20% Ni and 0.013% Co from 99 m. 38 m @ 0.61 g/t Pt+Pd+Au (3E), 0.21% Ni and 0.012% Co from 59 m. Lamboo PGEs: The PGE potential at Lamboo was initially identified in 2006. PGE mineralisation was intersected in a number of locations from limited drill testing over a small area of the basal portion within the folded Lamboo ultramafic complex.

Since this time, Pantoro has undertaken significant work which has concluded that the basal contact over very wide zones is unusually enriched in PGEs, and that there is the potential for large, bulk tonnage styles of PGE mineralisation. This style distinguishes Lamboo from other PGE discoveries within the region and WA as the mineralisation occurs over very wide zones from surface. Exploration Targets, Exploration Results: The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr. Scott Huffadine, a Competent Person who is a Member of the Australian Institute of Geoscientists.

Mr. Huffadine is a director and full time employee of the company. Mr. Huffadine is eligible to participate in short and long term incentive plans of and holds shares and options in the Company. Mr. Huffadine has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the `Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.

Mr. Huffadine consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Previous Pantoro Drilling Results: The information is extracted from the reports entitled `Lamboo PGE deposit continues to grow ahead of planned 2022 drill campaign created on 1 March 2022, 'Significant Lamboo PGE strike extension' created on 10 January 2022, Drilling Confirms Large Scale Lamboo PGE Deposit created on 15 November 2021 and `Wide Drill Hits Confirm Major PGE System at Halls Creek created on 6 September 2021. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements.