Pantera Minerals Limited (ASX:PFE; OTCQB:PTMLF) announced on 29 September 2026 that it has entered into binding agreements to acquire a 100% interest in the Corona Gold Project in Western Australia. The project comprises two granted exploration licences covering about 470 square kilometres in the Albany Fraser Orogen, about 200 kilometres east of Kalgoorlie.

Consideration is $200,000, made up of $40,000 in cash and $160,000 in Pantera shares, plus a 2% gross Revenue Royalty in aggregate.

About Pantera Minerals

Pantera Minerals Limited is listed on the ASX and the OTCQB market in the United States. The company states that its primary focus is its United States critical minerals strategy and portfolio, and that the Corona Acquisition adds a Western Australian gold asset alongside that portfolio. Barnaby Egerton-Warburton is Executive Chairman and CEO.

The company describes its approach as targeting historically explored areas where limited modern data offers an opportunity to apply contemporary geochemistry, geological interpretation and drilling. It said its July 2026 presentation identified limited modern data, underexplored Assets and clear pathways through fieldwork, targeting and drilling as criteria for new projects. Mr Egerton-Warburton presented at the JMM Gold forum on 30 September 2026 to discuss the acquisition.

Latest Development: Corona Gold Project Acquisition (29 September 2026)

Pantera has entered two separate agreements that depend on each other. The first is a tenement sale agreement with Beau Resources Pty Ltd for exploration licence E28/3555, covering 62 blocks. The second is a share sale agreement with Shiloh Resources Pty Ltd for the shares in its Subsidiary that holds E28/3556, covering 96 blocks. Cash consideration is $40,000 in total, split equally between the vendors, payable at completion. Share consideration of $160,000 is to be issued at a deemed price of $0.0151 per share, the 10-day Volume weighted average price before the agreements, subject to a 12-month voluntary Escrow and issued within the company's existing Placement capacity under Listing Rule 7.1.

Each vendor will receive a 1.0% gross revenue royalty over its tenement, or 2.0% in aggregate. Pantera may buy back half of each royalty for $1,000,000 per vendor, reducing each to 0.5%. There are no pre-existing royalties. Completion is subject to customary conditions, including Due Diligence within 21 days, confirmation of placement capacity, any ministerial consent required under section 64 of the Mining Act 1978 (WA) and no material adverse change. Completion is expected in October 2026. The company said the acquisition is not a significant transaction under Listing Rule 11.1 and does not need Shareholder approval.

The project sits in the Northern Forelands and Biranup Tectonic Zones, in the same structural corridor as the Tropicana gold mine, which is about 200 kilometres along strike to the northeast and has a reported 7.89 million ounces at 2.08 grams per tonne gold. It is also along strike from BPM Minerals' Forelands Project, where the Beachcomber discovery lies 10 to 25 kilometres from the Corona boundary. BPM's June 2026 drilling reported intersections including 3 metres at 65.8 grams per tonne gold and 9 metres at 7.77 grams per tonne gold. The company states these neighbouring results are for regional context only and are not necessarily indicative of mineralisation at Corona.

At Corona, historical work defined an 8 kilometre continuous gold-in-bedrock aircore anomaly, with intercepts including 6 metres at 1.5 grams per tonne gold from 66 metres. Only one reverse circulation hole has been drilled in the immediate prospect area. The western project area contains auger gold anomalies peaking at 128 parts per billion that have not been infilled or drill tested. The project lies within the Upurli Upurli Nguratja native title determination with no registered heritage sites, and Pantera intends to begin heritage and access engagement after completion.

The planned first-year program includes heritage and access arrangements, close-spaced ultra-fine fraction soil sampling over priority auger and aircore anomalies, and aircore and Reverse Circulation Drilling of ranked targets.

Risks and Uncertainties

Completion is not assured. It depends on due diligence, placement capacity, any ministerial consent and the absence of a material adverse change, and the two agreements are interdependent.

The project has not been drill tested for bedrock gold using modern methods, and only one reverse circulation hole has been drilled in the immediate prospect area. The company does not report a Mineral Resource, and historical results are from earlier explorers.

Results from neighbouring projects, including the Tropicana mine and the Beachcomber discovery, are included for regional context only and are not necessarily indicative of Corona.

Heritage and access arrangements have not yet been established, and the project lies within a native title determination. The tenements are close to the Cundeelee Aboriginal Reserve and the Queen Victoria Spring Nature Reserve. Pantera states its primary focus remains the United States.

Milestones to Watch

  • Completion of due diligence within 21 days and satisfaction of conditions, with completion expected in October 2026.
  • Issue of the consideration shares and payment of the cash consideration at completion.
  • Commencement of heritage and access engagement.
  • Close-spaced soil sampling over the priority auger and aircore anomalies.
  • Aircore and reverse circulation drilling of ranked targets.