Black Panther Completes Non-Brokered Private Placement

West Vancouver, British Columbia – May 3, 2010 – Black Panther Mining Corp. (the “Company” or “Black Panther”) is pleased to announce that further to its news release of March 3, 2010, the Company has closed its non-brokered private placement (the “Private Placement”). The Company has raised $514,720 by the issuance of 3,217,000 non-flow through units (the “Units”) at a price of $0.16 per Unit. Each Unit consists one common share and one half of a share purchase warrant, with each whole warrant entitling the holder to purchase an additional common share at a price of $0.20 for a period of one year from the closing date. In connection with the Private Placement, finders’ fees were paid in the amount of $46,672. All of the securities issued pursuant to the Private Placement are subject to a hold period expiring on August 30, 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 mineral exploration properties.

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 (Chairman)

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.