PANTHER MINERALS INITIATES PERMITTING FOR SUMMER 2024 FIELD PROGRAM, BOULDER CREEK URANIUM PROPERTY IN ALASKA

Vancouver, British Columbia, May 21, 2024 (GLOBE NEWSWIRE) -- Panther Minerals Inc. (“Panther Minerals” or the “Company”) (CSE:PURR) (OTC:GLIOF) (FWB:2BC) is pleased to announce the Company has submitted a “Notice of Operations” on Federal Claims to the Bureau of Land Management (BLM) office in Anchorage. This submittal is related to a proposal to conduct exploration activities, including diamond drilling, on active federal mining claims that comprise a portion of the Boulder Creek Uranium property located in the southeastern Seward Peninsula, 160 km east of Nome, Alaska, under option by the Company (“Boulder Creek” or the “Property”). The Company has engaged Jack DiMarchi of Core Geoscience LLC, to manage the Company’s permitting activities in Alaska. Additional permitting submittals will follow related to activities on the State claims that form part of the Property and with regards to the proposed field camp therein.

“We are encouraged to have initiated the permit application process in a lead up to our first phase of exploration work on the Property”, stated Rob Birmingham, President of Panther Minerals. “The expertise of Jack will ensure we complete the correct protocols and advance to finalizing the permits in an expeditious manner.”

About the Boulder Creek Property

The Property is located on Alaska’s Seward Peninsula in northwestern Alaska and hosts the Boulder Creek uranium deposit within Tertiary-aged sandstones peripheral to a Late Cretaceous alkalic quartz monzonite intrusion.

Discovered in 1977 by means of airborne radiometric data, Boulder Creek is the most northerly known sandstone-type uranium property in the world¹. First explored by Houston Oil & Minerals between 1978 and 1981, completing 52 core holes (3,463 m) and about 60 m of near-surface split-tube sampling in 21 holes, Boulder Creek has a historic resource estimate (non-National Instrument 43-101 compliant) of one million pounds U308 at an average grade of 0.27% and average thickness of 3 metres and depth of mineralization from surface to 120 metres¹.

The foregoing is a historical estimate made prior to the implementation of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and was not prepared in accordance with the requirements of NI 43-101, nor does it use the categories of mineral resources set forth in NI 43-101. The Company considers the historic estimate to provide information as to the historical exploration on the Property. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The historical estimate should not be relied upon.