Panoramic Resources Limited (ASX: PAN) ('Panoramic' or the 'Company') is pleased to provide an update on ongoing infill underground Resource definition drilling at the Company's Savannah Nickel Project in Western Australia.

The first drill hole completed from the 1381 Drill Drive East, KUD1875, was designed to test the northerly trending Upper Mineralisation Lens in this area.

A mineralised intersection was achieved at the target depth of 63.2m, thereby appearing to confirm the geological model. In addition, KUD1875 intersected an unanticipated 5.7m zone of semi-massive breccia sulphide mineralisation near the start of hole from 3.3m downhole.

Encouragingly, both intercepts represent mineable width and grade that are within close proximity to existing Savannah North underground infrastructure.

Additional drilling is planned to better define the Upper Splay mineralisation lens and will be the focus of the upcoming Savannah North drill campaign. The results show the potential to extend known mineralisation and encounter new zones as drilling density increases from underground positions

Commenting on the new Upper Splay discovery, Managing Director and CEO, Victor Rajasooriar said: 'The assays returned from our first hole into the eastern zone of Savannah North surpassed our expectations with the discovery of a new mineralised splay very close to existing underground workings. 'Drilling will continue to infill and better define the previously known Upper Mineralisation Lens and test the extent and tenor of the Upper Splay discovery. We're confident this program will add to our future mining inventory in favourable positions which support the opening of new mining fronts and further derisking of the Savannah Nickel Operation.'

About Panoramic

Panoramic Resources Limited (ASX: PAN) is a company headquartered in Perth, Western Australia, which owns the Savannah Nickel Project in the East Kimberley. Operations at Savannah were restarted in 2021 and the project was successfully recommissioned with first concentrate shipment achieved in December 2021. Savannah has a 12-year mine life with clear potential to further extend this through ongoing exploration. The asset provides excellent leverage to the nickel, copper and cobalt markets which are heavily linked to global decarbonisation and vehicle electrification

Forward Looking Statements

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Contact:

Victor Rajasooriar

Tel: +61 8 6266 8600

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