Highlights

• Pantera Minerals (ASX: PFE) has secured exploration licence E28/3634, adding approximately 236km² to its Corona Gold Project in the Albany Fraser Orogen, WA.

• The expanded Corona landholding now covers approximately 731km² across two granted and one application tenement along the Yellow Dam structural corridor.

• The new ground lies along strike from the same Yellow Dam Shear Zone that hosts BPM Minerals' Bonnie & Clyde discovery, which returned 4m at 20.57g/t gold in its first ever RC hole.

• Pantera is planning ultra-fine fraction soil sampling across the enlarged position in Q1 2027, with first drilling targeted for Q2 2027, subject to heritage clearances.

Pantera Minerals Limited (ASX:PFE), a dual-listed Australian mineral explorer focused on gold and critical minerals, has announced a material expansion of its Corona Gold Project in Western Australia's Albany Fraser Orogen. The company has secured exploration licence E28/3634, adding approximately 236km² of contiguous ground to its existing Corona position, increasing the total landholding to approximately 731km². The Acquisition positions Pantera along a significant portion of the Yellow Dam structural corridor, which has recently demonstrated gold discovery potential through neighbouring exploration activity.

Strategic Rationale and Yellow Dam Corridor

The key catalyst for the expansion is the recent first drill result at BPM Minerals' Bonnie & Clyde prospect, located approximately 10km south of the new tenement. BPM's first RC hole into the 6km-long Bonnie & Clyde soil anomaly returned 4m at 20.57g/t gold from 39m and 8m at 9.23g/t gold from 71m in basement, beneath 15-30m of paleochannel cover. Bonnie & Clyde sits on the Yellow Dam Shear Zone, the same structural corridor that continues northeast through Pantera's new tenement and into the existing Corona ground, where an 8km-long gold-in-bedrock aircore anomaly has been defined. The geological connectivity between BPM's discovery and Pantera's anomaly along the same corridor is the central Investment thesis.

The new tenement lies within the Northern Forelands Tectonic Zone of the Albany Fraser Orogen, hosting Proterozoic-age reworked Archean metamorphic rocks of the same geological unit that hosts the Tropicana gold deposit (7.89 million ounces). Historical exploration on the new licence, which was previously held by the AngloGold Ashanti/IGO Tropicana joint venture, included wide-spaced auger sampling, but no RC or diamond drilling has ever been completed. This represents a significant gap in the data that Pantera intends to address through its upcoming exploration programs.

Exploration Program and Methodology

Pantera's planned exploration sequence mirrors the method that BPM used to identify Bonnie & Clyde — ultra-fine fraction (UFF) soil sampling — which is designed to detect gold anomalism beneath the paleochannel cover that obscures bedrock mineralisation across the region. UFF sampling across the enlarged Corona position is being designed now, with implementation targeted for Q1 2027. First drilling is planned for Q2 2027, subject to heritage clearances and approvals. Pantera confirmed that the Corona program will not divert funding or focus from its US critical minerals projects. The company held $1.7 million in cash at 30 September 2026, with a further $2 million receivable from EnergyX in April 2027.

Comparison to Regional Discoveries

The regional context for Corona is compelling. The Albany Fraser Orogen has emerged as one of Australia's premier gold discovery provinces following the discovery and development of Tropicana. Recent high-grade results at Bonnie & Clyde and Beachcomber by BPM Minerals have further elevated the profile of the Yellow Dam corridor, which BPM describes as running for over 75km across its own ground. Pantera's 731km² consolidated position along this corridor, anchored by an 8km bedrock anomaly that has had only one RC hole drilled into it, represents a large-scale, early-stage opportunity in a region where the discovery model is now proven.

Key Insights

The acquisition of E28/3634 was well-timed, secured within 10 days of the Corona acquisition itself, and was motivated directly by BPM's first drill result at Bonnie & Clyde demonstrating the gold potential of the Yellow Dam corridor.

The fact that no RC or diamond drilling has ever been completed on the new tenement, despite prior ownership by a major Mining company, leaves the ground effectively fresh for the kind of systematic bedrock-targeting that BPM applied to Bonnie & Clyde.

UFF soil sampling is a proven technique in the region for detecting mineralisation beneath paleochannel cover, and its use at Corona directly mirrors the discovery method applied by BPM at Bonnie & Clyde.

Pantera's financial position is adequate for its first-year program, with $1.7 million cash and a further $2 million receivable, supporting a disciplined approach to discovery-stage exploration.