Vancouver, British Columbia - TheNewswire – October 9th, 2024 - Panther Minerals Inc. (“Panther Minerals” or the “Company”) (CSE:PURR) (OTC:GLIOF) (FWB:2BC) is pleased to report the receipt of Miscellaneous Land Use Permit (MLUP) and Reclamation Plan approvals from the Alaska Department of Natural Resources/Mining for the Company’s Boulder Creek uranium project. Designated as MLUP Permit number # 9828, this allows the Company to conduct hardrock exploration and reclamation for a period of up to five (5) years (until 12/31/2028), unless proposed changes and revisions are required.

The receipt of this permit is a major milestone for the Company and will allow surface exploration activities and drilling next year on the Boulder Creek property, on two principal target areas on the large 22,400 acres or 9,065 hectares (90.65 square kilometres) property:

• Boulder Creek Target – Discovered in 1977 in western Alaska, the Boulder Creek uranium deposit is known as the most northerly known “sandstone-type” deposit property in the world. From 1979-1981, Houston Oil and Minerals estimated a significant historical "reserve" estimate at Boulder Creek (See Company Press Release May 7, 2024 for further details). From 2005 – 2008, Triex Mineral Corp. (" Triex ") completed soil and biogeochemical surveys, an airborne radiometric and magnetic survey, geological mapping, prospecting and ground scintillometer surveys, and diamond drilling comprising 22 holes and 2,217 metres, mostly focused on the Boulder Creek target, There has been no substantial exploration activity on the target are since 2008, which will be the site of an approved camp facility, near a dirt air strip for future programs.  

• Fireweed Target – located 28 km northwest of the Boulder Creek deposit, the Fireweed prospect was discovered by Triex in 2006. Initial sampling returned up to 0.82% U3O8 (6,950 ppm U) from "granitic, stained brick red by pervasive hematite, with specks of black mineral, likely pitchblende, forming about 2% of the sample" (Triex Internal Company Report - 2006 Report on Boulder Creek Property). Further sampling in 2007 by Triex reported: “Twenty-one (21) rock samples collected from three main areas along the contact contain from 0.14% to 0.81% U308. These data confirm the 0.82% U308 value obtained from the single sample collected during a brief site visit in 2006. More than 300 sub-angular radioactive pebbles of silica-hematite rock have been identified from 130 mapped sites which cover an area of approximately 1,800 metres long east-west by 700 metres wide north-south.” Based on the data reviewed to date, and as indicated in the Triex reports, the Fireweed mineralization differs substantially from that at the Boulder Creek deposit, and the size and strength of the anomalies (airborne radiometric, ground radiometric, rock sampling, and soil geochemistry) at the Fireweed Prospect are much larger and stronger. The Fireweed Prospect represents a high priority target for future exploration activities.  

“Panther Minerals is very pleased to have received the essential MLUP documentation for the Boulder Creek property. We are appreciative of the efforts of the Alaska Department of Natural Resources/Mining, our permitting consultant Mr. DiMarchi of Core Geoscience LLC, and many other individuals in assisting in this approval," stated Rob Birmingham, Chief Executive Officer of Panther Minerals. "With permits in hand for a 5-year period, this allows the Company to efficiently plan and execute exploration activities to investigate the known uranium targets on the Boulder Creek property and make new uranium discoveries in this largely unexplored area."

The permit grant on the Panther Minerals Boulder Creek property comes with a standard 20-day window for appeal of the MLUP.

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 and Huber Heights 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

For more information please visit: www.pantherminerals.ca or email info@pantherminerals.ca.

 

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 the 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.