Black Panther Completes Non-Brokered Private Placement

West Vancouver, British Columbia – Black Panther Mining Corp. (the “Company” or “Black Panther”) is pleased to announce that further to its news release of October 29, 2009, the Company has closed its non-brokered flow through and non-flow through private placement (the “Private Placement”). The Company has raised $177,500 by the issuance of 570,000 flow through units (the “FT Units”) at a price of $0.25 per FT Unit and 140,000 non-flow through units (the “Non-FT Units”) at a price of $0.25 per Non-FT Unit. Each FT Unit consists 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 consists one non-flow through common share and one 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. In connection with the Private Placement, finders’ fees were paid in the amount of $12,250. All of the securities issued pursuant to the Private Placement are subject to a hold period expiring on April 18, 2010.

The Company intends to use the proceeds from the Private Placement for general working capital purposes and for furthering the exploration of the Company’s “Seagull” PGE (platinum-palladium) property, which is located (via hwy. 527) approximately 90 km north-northeast of Thunder Bay, Ontario (for additional information see the Company’s news release of October 7, 2009), and the Company’s “1506” nickel property, which is located approximately 90 km north of the Voisey’s Bay nickel discovery in the Nain area of Labrador (for additional information see the Company’s news release of October 27, 2008).
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

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