PANTHER MINERALS INITIATES SATELLITE IMAGERY SURVEY OVER THE FIREWEED PROSPECT, BOULDER CREEK URANIUM PROPERTY, ALASKA

VANCOUVER, BC, July 3, 2024 /CNW/ - Panther Minerals Inc. ("Panther Minerals" or the "Company") (CSE: PURR) (OTC: GLIOF) (FWB: 2BC) reports that it has engaged DIRT Exploration of Cape Town, South Africa, to conduct a long-wave infrared survey ("LWIR") and interpretation of high-resolution hyperspectral satellite imagery over the northern portion of the Boulder Creek property, Alaska. The proposed survey covers the Fireweed uranium prospect (the "Fireweed Prospect") (see Company News Release, May 30^th, 2024), where in 2007 twenty-one (21) rock samples by Triex Minerals Inc. returned from 0.14% to 0.81% U308.

The Fireweed Prospect was discovered in outcrop through the investigation of a strong radiometric anomaly flown at 200-meter line spacing. The Fireweed mineralization is interpreted to be substantially different from that at the Boulder Creek deposit, which is hosted within Tertiary-aged sandstone units. Based on the data reviewed to date, and as indicated in the Triex reports, the size and strength of the anomalies (airborne radiometric, ground radiometric, rock sampling, and soil geochemistry) at the Fireweed Prospect is both larger and stronger than at the Boulder Creek deposit, and uranium mineralization is interpreted to be related with brick red hematite-silica alteration zones, hosted in intrusive rocks.

Hyperspectral satellite surveys map alteration minerals and patterns. LWIR analysis, through proprietary processing of hyperspectral satellite data, can map or identify, through reflectance spectroscopy against a set of known standards, mineral distribution over large areas covered by vegetation and shallow cover. The ground-penetrating nature of infrared radiation in the long-wave bands allows viewing of mineral spectra to shallow depths. The LWIR and satellite imagery survey will compare and analyze imagery data over the known Fireweed Prospect and search for similar patterns and anomalies. The association of pervasive hematite alteration at the Fireweed Prospect will be modeled and applied over areas not covered by the 2006 radiometric survey.

The DIRT interpretive report and the Company's compilation will be used to refine proposed exploration activities on the Boulder Creek property for the current field season.

"Utilizing the long-wave infrared survey will give us greater knowledge of the Fireweed Prospect, which will prove crucial as we ready for our first phase of exploration this summer. With Triex Minerals' previous completion of a radiometric survey with a wide spacing of 200-meter lines, completing this satellite imagery will give us further insight into other potential anomalies, which will add value to the project," stated Rob Birmingham, Chief Executive Officer of Panther Minerals.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Lindsay Bottomer, PGeo. Mr. Bottomer is a qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and is a consultant for the Company.

About Panther Minerals Inc.

Panther Minerals is a mineral exploration company actively involved in the exploration of its North American project portfolio. The acquisition of the Boulder Creek option reflects the Company's continuing intention of pursuing advanced, high-quality prospective uranium projects that can be readily worked on and efficiently explored in a timely manner.

ON BEHALF OF THE BOARD OF DIRECTORS

Mr. Robert Birmingham, Chief Executive Officer

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Actual future results may differ materially. In particular, this news release contains forward-looking information relating to the Company and exploration plans at the Boulder Creek property. The forward-looking information reflects management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Such risk factors may include, among others, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; and (ii) other factors beyond the control of the Company. New risk factors emerge from time to time, and it is impossible for the Company's management to predict all risk factors, nor can the Company assess the impact of all factors on Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available on the Company's profile at www.sedarplus.ca. 

SOURCE Panther Minerals Inc.

For more information please visit: www.pantherminerals.ca or email [email protected].