West Vancouver, British Columbia – August 5, 2008 – Black Panther Mining Corp. (the “Company”) is pleased to announce that the Company has received the assay results of the trenching program completed on the Tetasiari Property located in northern Sinaloa Mexico. The Company has an option to acquire a 50% interest in the Tetasiari Property from MacMillan Gold Corp. (TSX-V: MMG) of Toronto.
In May, 2008, the Company completed an excavator trenching program totaling 373 metres in 10 trenches. The trenches tested a 12 to 20 metre wide silicified breccia. The breccia contains specular hematite, as well as pyrite, gold and chalcopyrite. The zone has been traced by trenching for a strike length of 190 metres. The zone has been traced by surface mapping for over one kilometer.
The trenches were excavated from one to two metres through the weathered bedrock in an attempt to sample the fresh unweathered bedrock. However, in the silicified zones, the excavator was unable to trench through the leached/weathered zone. The bottom of the trench was swept clean and a continuous channel sample, approximately 5 cm by 5 cm by 2 cm, was cut along the bottom of the trench. Samples were taken at one metre intervals, placed in marked sample bags which were sealed and then shipped to Inspectorate Laboratories Sample Preparation Facility in Mexico under the supervision of John Kowalchuk, P.Geo., the Company’s Qualified Person. Thereafter, the pulp was sent to the Inspectorate Laboratory in Sparks, Nevada for ICP geochemical analysis and fire assay for gold.
All 10 trenches encountered the silicified breccia with significantly elevated values of gold, silver, copper and other base metals. The gold values appear to be directly related to the depth of trenching and degree of weathering of the silicified zone. Trenches one to five inclusive, which managed to penetrate fresh bedrock, gave the highest values ranging from 112 ppb gold to 13,720 ppb (13.7 grams/tonne) gold with the 100 ppb gold value mapping the breccia. Trenches six to ten still reported gold values greater than 100 ppb gold, however, the anomalous values are more sporadic and did not give the higher values of greater than 1000 ppb gold. Some highlights of the trench results are as follows:
| Trench One: |
13 metres, Gold ranges from 112 to 2,002 ppb with a mean value of 548 ppb; |
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| Trench Two |
13 metres, Gold ranges from 59 to 1,652 ppb with a mean value 357 ppb; |
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| Trench Three: |
22 metres, Gold ranges from 86 to 1,680 ppb with a mean value of 498 ppb; |
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| Trench Four: |
11 metres, Gold ranges from 75 to 904 ppb with a mean value of 285 ppb; and |
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| Trench Five: |
7 metres, Gold ranges from 194 to 13,720 ppb with a mean value 2,489 ppb. Three of the seven samples ran greater the 1,000 ppb gold. |
The other trenches all have zones running greater than 100 ppb gold, however, they never did reach fresh, unweathered bedrock. It appears as if the gold and base metals are leached from weathered parts of the system, however, the silicified structure remains consistently favourably anomalous.
The Company plans an aggressive drill program in the fall of 2008 to test this strong mineralized zone at depth.
John Kowalchuk, P.Geo., has reviewed this release and is acting as the Company’s Qualified Person for this project.
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”
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Ronald A. Coombes, President & CEO
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release.
