Panterra Gold : Las Lagunas Gold Production in line with Forecast

6cd7b417-762c-489e-881e-fd90879c4ea8.pdf

18 January 2016

ASX Announcement

ASX: PGI

ABN: 48 008 031 034

Registered Office:

55 Kirkham Road

Bowral NSW 2576 Australia PO Box 846

Bowral NSW 2576 Australia

T: [phone]

Email: [e-mail]

Project Offices:

DOMINICAN REPUBLIC

Calle Mayaguano No. 2 Los Cacicazgos,

Santo Domingo, Distrito Nacional T: [phone]

CANADA

880 - 580 Hornby Street Vancouver, BC, V6C 3B6 T: [phone]

PanTerra Gold Limited Las Lagunas Gold Production in line with Forecast

PanTerra Gold Limited (ASX: PGI) (PanTerra Gold or the "Company"), advises gold production and revenues for the fourth Quarter from its Las Lagunas project in the Dominican Republic were in line with forecasts published in the Corporate Presentation released to the ASX on 2 October 2015.

However, current CIL recoveries and overall gold recoveries are currently down on forecasts due to a number of factors that are being addressed.

Plant performance for December 2015 was as follows:

Average Daily Production 2015

Details	Monthly Forecast	Oct	Nov	Dec
Throughput, t/d	2142	2,066	2,314	2,274
Head Grade, g/t Au	3.6	3.79	3.77	3.84
Flotation Recovery, % Au	79.0	79.0	78.7	77.3
CIL Recovery, % Au	63.0	58.8	57.2	55.5
Overall Recovery, % Au	49.8	46.4	45.0	42.9
Production, oz Au	123.0	120.6	126.1	120.3

Production for the Quarter to 31 December 2015 was as follows:

End

December Quarter	Previous Quarter	Variance vs Previous Quarter	YTD
Plant Throughput (t)	203,983	185,511	10.0%	758,389
Average head grade (g/t)
Gold	3.8	3.6	5.6%	3.4
Silver	38.5	36.4	5.7%	38.3
Recovery (%)
Gold	44.7	45.4	-1.5%	45.4
Silver	19.9	27.9	-28.5%	26.0
Production (oz)
Gold	11,132	9,707	14.7%	37,924
Silver	50,075	60,144	-16.7%	239,461
Sales (oz)
Gold	11,268	9,066	24.3%	37,941
Silver	48,803	63,437	-23.1%	244,469
Sales (US$m)	12.7	11.4	11.3%	47.1
Sales (A$m)*	17.7	15.8	12.1%	62.7

* Based on average exchange rate for the Quarter.

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