Black Panther Provides Olsen Gold Property Exploration Update

West Vancouver, British Columbia – June 14, 2010 – Black Panther Mining Corp. (“Black Panther” or the “Company”) wishes to report on the first phase of its exploration program on its Olsen Gold Property located approximately 85 km north of Sault Ste. Marie, Ontario.

The first phase of exploration (underway since May 20th) includes mapping and surface sampling and prospecting. To date, two intense iron carbonate alteration systems, that appear to extend for 3,000 metres, have been discovered. The zones have anomalous gold values and are being followed up with detailed sampling. In addition, line cutting followed by geophysics, which will include magnetics and then IP (induced polarization), are planned in an effort to further define the most prospective mineralized gold zones for trenching. Upon successful completion of the trenching program, Black Panther intends to proceed with a phase II core drill exploration program.   

The Olsen Property appears to cover several major structures and numerous gold showings within a 6 mile (9.6 km) strike length. A silicified porphyry, which is an important factor for the formation of major gold deposits, has also been located. Two “float” bolders of high grade gold have been located on the Property (as historically reported in the Ministry of Northern Development, Mines and Forestry assessment files). Robert Middleton, P.Eng., states that “the geological setting of the Olsen Property Project resembles that of a number of mines in the Porcupine Gold Camp  in the Timmins, Ontario area”.

The Olsen Property project is being supervised by R.S. Middleton, P.Eng, who is the Company’s Qualified Person for this program in accordance with regulations under NI 43-101.

For further information, contact Mr. Clive Shallow, investor communications at 604-922-2030 or visit the Company’s new website at www.blackpanthermining.com

Black Panther Mining Corp.

“Ronald A. Coombes”
_________________________________
Ronald A. Coombes, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Such statements are not guarantees of future performance and actual results or developments may differ materially from those expressed in, or implied by, this forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.