Black Panther Property Update
West Vancouver, British Columbia – February 27, 2009 – Black Panther Mining Corp. (“Black Panther” or the “Company”) is pleased to announce the positive advancement of its optioned “Seagull” PGE Property, which is located approximately 90 km north-northeast of Thunder Bay, Ontario. As referred to the Company’s news release dated February 3, 2009, the most recent drilling intersected an upper layer of sulphides at 315 to 380 metres depth, and a basal zone adjacent to basement rocks at 355 to 415 metres depth was also intersected in both holes (WM08-32 and WM08-33). This area coincides with a significant 600 metre long high magnetic susceptibility anomaly which may also coincide with a trough in the basement. Assay results from the recent drilling program are set forth in the Company’s news release of February 3, 2009.
In connection with the Company’s current focus on its Seagull Property, the Company has elected to terminate its “Tetasiari” Property Option Agreement (Mexico) with MacMillan Gold Corp. (now known as MacMillan Minerals Inc.), and as well, has elected to terminate its “Golden Loon” Property Option Agreement (Kamloops, B.C.) with Nevoro Inc. and Sheffield Resources Ltd.
This news release has been reviewed and approved by Mr. Robert Middleton, P.Eng, Geophysicist, and is the Qualified Person supervising this project 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”
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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. This news release includes certain statements that may be deemed “forward-looking statements”. 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. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. 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.
