Panther Minerals Closes Second And Final Tranche Of $2 Million Private Placement

VANCOUVER, June 6, 2024 - Panther Minerals Inc. ("Panther Minerals" or the "Company") (CSE: PURR), is pleased to announce that the Company has closed its non-brokered private placement (the "Private Placement") of ten million shares at 20 cents per share for total aggregate proceeds of $2 million. In the first tranche of the Private Placement, which was announced by the Company in its news release dated May 23, 2024, the Company raised gross proceeds of $1,251,650 through the sale of 6,258,250 common shares in the capital of the Company (each, a "Share"). The second and final tranche (the "Second Tranche") of the Private Placement closed with issuance of 3,741,750 Shares for aggregate proceeds of $748,350.

The proceeds from the Private Placement are going to be used to fund exploration and for general working capital purposes. The Shares issued pursuant to the Second Tranche are subject to a four month and one day hold period expiring October 7, 2024, pursuant to applicable securities laws. The Company paid finder's fees of $23,205 in cash to certain arm length parties in relation to the Second Tranche.

About Panther Minerals Inc.

Panther Minerals Inc. is a mineral exploration company actively involved in the exploration of its North American project portfolio.

ON BEHALF OF THE BOARD OF DIRECTORS

Mr. Robert Birmingham, Chief Executive Officer

The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-Looking Information

Certain information in this news release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Corporation or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this news release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this news release.

Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Corporation's Management Discussion and Analysis, which can be found on SEDAR+ at www.sedarplus.ca.

SOURCE Panther Minerals Inc.