Winston Tailings Project: Mineral Resource Appointment
SRK Appointed To Conduct Mineral Resource Estimate
Panther Metals Plc (LSE: PALM), the exploration company focused on mineral projects in Canada, is pleased to announce the appointment of SRK Exploration Ltd (“SRK EX”) as independent consultants to conduct a Mineral Resource estimate (“MRE”) for the Winston Tailings Project in Ontario, Canada.1, 2, 3
The MRE will be one of a series of workstreams to quantify, evaluate and permit the contained high-grade gold (Au), gallium (Ga), silver (Ag), zinc (Zn), copper (Cu) and cobalt (Co) and other recoverable minerals located within the historic Winston Lake Mine tailings storage facility (“TSF”).
The MRE is an integral part of the process to advance the Winston Tailing Project through permitting towards a cashflow proposition and will be based upon the resource drilling programme, mineralogical and metallurgical testwork and associated studies which will be conducted during Q3 and Q4 2025.
Panther is aiming for a seamless transition from MRE to Ore Reserves in as short a time as possible, and it is envisaged that successful outcomes to the tailing MRE, will in turn support the declaration of Ore Reserves following further technical studies. The SRK EX work will also provide inputs into the Application for Recovery of Minerals Permit (the “Recovery Permit”) process as announced 1 September 2025.3, 4
The MRE will be reported in compliance with the standards and best practices set out by the Canadian Institute of Mining, Metallurgy and Petroleum’s (“CIM”) for reporting Mineral Resources, Ore Reserves, and related exploration information. This will also facilitate future NI 43-101 reporting, as required.
About SRK Exploration
SRK EX is an associate company of the international group holding company, SRK Consulting (Global) Ltd (the “SRK Group”), which constitutes one of the world’s premier independent mining consultancies and which includes over 1,800 professional personnel in 43 offices in 19 countries worldwide, providing expertise in a wide range of exploration, mining and engineering disciplines. The SRK Group has a demonstrated track record in undertaking independent assessments of Mineral Resources and Ore Reserves, project evaluations and audits, competent person’s reports and independent feasibility evaluations on behalf of exploration and mining companies and financial institutions world-wide.
SRK EX will work in conjunction with resource, tailings and mineral processing specialists based in SRK Group offices in both Canada and United Kingdom.
SRK EX has extensive experience of drilling and sampling in unconsolidated materials such as those that may be found in the TSF at Winston, including sampling underwater. Members of the proposed team also have extensive experience in Mineral Resource estimation for tailings for a wide variety of commodities and industrial minerals.
Background
The Winston Tailings Project entails a series of workstreams to quantify, evaluate and permit the contained high-grade gold (Au), gallium (Ga), silver (Ag), zinc (Zn), copper (Cu) and cobalt (Co) and other recoverable minerals located within the historic Winston Lake Mine tailings storage facility. Reprocessing the mine tailings, potentially offers Panther the opportunity to unlock residual metal value and contribute to the long-term environmental rehabilitation of the Winston Project site.1, 2
The Winston Lake Mine was operational from 1988 to 1998, producing approximately 3.3 million tonnes of ore and yielding zinc, copper, silver, and gold. Based on historic recoveries from mining activities in the 1980s and 1990s, it is believed that a significant quantity of valuable material remains in the tailing storage facility.
Source: NI 43-101 Technical Report Feasibility Study for the Superior Zinc and Copper Project, 2021. Site is connected to high-voltage grid power.
Figure 1: Existing Infrastructure at Winston Tailings Storage Facility
References
1. Panther Metals PLC, announcement, Winston Tailings Assays Confirm Gold, Gallium, Silver, Zinc, Copper & Cobalt, Tailings Sample Assay Results Exceed Expectations, dated 31 July 2025 ( https://polaris.brighterir.com/public/panther_metals/news/rns/story/w00eo6w )
2. Panther Metals PLC, announcement, Tailings Sampling Programme Underway at Winston Project, dated 15 July 2025 (https://polaris.brighterir.com/public/panther_metals/news/rns/story/w606ngw )
3. Panther Metals PLC, announcement, Winston Tailings: Gold & Critical Mineral Reprocessing, Evaluation and Permitting Workstreams Commencing, dated 8 August 2025
( https://polaris.brighterir.com/public/panther_metals/news/rns/story/rm7movr )
4. Panther Metals PLC, announcement, Winston Tailings Project Update and Warrant Expiry, Permitting Process Commenced. Warrant Expiry Notice , dated 1 September 2025
( https://polaris.brighterir.com/public/panther_metals/news/rns/story/x20od6r )
5. Recovery of Minerals Permitting process details available at https://www.ontario.ca/page/recovery-minerals
For further information, please contact:
Panther Metals PLC:
Darren Hazelwood, Chief Executive Officer: +44(0) 1462 429 743
