Savannah North Development Update

HIGHLIGHTS

Savannah North ventilation rectification works to be implemented on previously guided timeframe and at lower end of expected cost
No material impact expected on current Savannah Mine production schedule
First stoped ore from Savannah North deposit on schedule for March 2020
Progressive ramp-up of ore volumes from Savannah North expected through calendar 2020

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Savannah Underground Mining Contract Executed with Barminco

HIGHLIGHTS

Underground mining contract for Savannah executed with leading service provider, Barminco
Rapid mobilisation and operational hand-over expected to be completed by early March 2020
Targeted to deliver significant underground mining efficiencies and drive production volumes

Panoramic Managing Director and CEO, Victor Rajasooriar, commented:

“The execution of a mining contract with leading underground services provider, Barminco, represents a significant step forward for the Savannah Nickel Mine and Panoramic. We now look forward to delivering a rapid and efficient transition to Barminco run operations. With their proven expertise, we are confident that underground mining productivities at Savannah are set to improve significantly over the coming months.”

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