Black Panther Announces Non Brokered Private Placement

West Vancouver, British Columbia – July 3, 2009 – Black Panther Mining Corp. (the “Company” or “Black Panther”) announces that, subject to regulatory approval, it intends to proceed with a non-brokered private placement (the “Private Placement”) to raise up to $750,000 by the issuance of 2,000,000 flow through units (the “FT Units”)at $0.25 per FT Unit and 1,000,000 non-flow through units (the “Non FT Units”) at $0.25 per Non FT Unit.  Each FT Unit will consist of one flow through common share and one-half of a share purchase warrant, with each whole warrant entitling the holder to purchase an additional non-flow through common share at a price of $0.30 for a period of one year from the closing date. Each Non FT Unit will consist of one non-flow through common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional non-flow through common share at a price of $0.25 for a period of one year from the closing date. With respect to this Private Placement, the Company may pay finders’ fees in the amount of 10% of the proceeds raised from the sale of FT Units and Non FT Units (payable in cash or Non FT Units at a deemed price unit of $0.25 per unit) and issue warrants entitling the finder to purchase that number of common shares as is equal to 10% of the number of FT Units and Non FT Units purchased by subscribers introduced to the Company by such finders.

The proceeds from this Private Placement will be used for general working capital purposes and for furthering the exploration of the “Seagull” PGE Property which is located approximately 90 km north-northeast of Thunder Bay, Ontario (as referred to in the Company’s news release dated February 27, 2009).

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.

“Douglas L. Mason”
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Douglas L. Mason, Director

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.