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PANTORO Quarterly Report Ending 30 September 2021 Strong cashflow from Halls Creek continues to underwrite development at Norseman Key Highlights Norseman Project ( Pantoro 50 % ) • Project approvals were finalised in the first week of October 2021 . • • • • ⋅ GR Engineering mobilised to site and plant construction works commenced immediately upon receiving approvals . Excellent drilling results at Green Lantern ( Scotia Mining Centre ) culminated in a maiden Mineral Resource Estimate and Ore Reserve Calculation . Outstanding first pass results from the Norseman Mainfield demonstrating large zones of mineralisation not previously mined . Halls Creek Project ( Pantoro 100 % ) Production of 9,473 ounces with AISC of $ 1,435 / Oz . Pleasingly , AISC was below guidance and production was within guidance . Project cashflow of $ 4.6M inclusive of all capital and exploration costs . Cashflow exceeded guidance . Wide zone of platinum group element ( PGE ) mineralisation identified from surface approximately 5km south of Nicolsons Mine Infrastructure . Annual Mineral Resource and Ore Reserve statement released , confirming ongoing replacement of mining depletion , and extension to mine life . The current Ore Reserve at Nicolsons is 877,000 tonnes @ 4.8 g / t Au for 136,000 ounces . Exploration drilling undertaken at the Slattery discovery ( 500 meters east of Nicolsons mine ) , Mary River , and Lamboo PGE deposit . Drilling at Grants Creek currently underway . Corporate • • • $ 30 million corporate debt facility executed with Global Credit Investments . Funds received subsequent to the end of the quarter . Final payment of $ 10 million for acquisition of 50 % of the Norseman gold project made in July 2021 . Acquisition of 19.9 % of Maximus Resources ( ASX : MXR ) for consideration of $ 4.3 million subsequent to the end of quarter . Closing cash and gold of $ 34.6 million at 30 September . Full additional funds from the $ 30 million debt facility received following the end of month . Enquiries Paul Cmrlec - Managing Director | Ph : +61 8 6263 1110 | Email : admin@pantoro.com.au * $ 31.8M cash and metals account , 1,166 ounces in safe and GIC @ $ 2,418 / Oz Pantoro Limited ABN 30 003 207 467 T : +61 8 6263 1110 | E : admin@pantoro.com.au | W : www.pantoro.com.au PO Box 1353 West Perth WA 6872 | Level 2 , 46 Ventnor Ave , West Perth WA 6005