Sale of Thunder Bay North Project
Share Purchase Agreement Signed

Panoramic Resources Limited (“Panoramic” or the “Company”) is pleased to advise that further to previous announcements made by the Company on 2 July 2019, 3 September 2019 and most recently 4 December 2019, the Company’s wholly owned subsidiary Magma Metals Pty Ltd (“Magma”) and Regency Gold Corp. (TSXV:RAU.H) (“Regency”) have signed a Share Purchase Agreement (“SPA”) under which Magma has agreed to sell to Regency all of the shares in PAN PGMs Canada Limited (“Panoramic PGMs”).

Panoramic PGMs is the 100% owner of the Thunder Bay North PGM Project (“Project”) situated in Northern Ontario, Canada.

The SPA constitutes the Definitive Agreement that has been referred to in previous announcements. Panoramic and Benton Resources Inc. of Canada (TSX-V:BEX) (“Benton”) have agreed to terminate the Letter Agreement, as amended, as referred to in earlier announcements. Panoramic understands that Benton has assigned its rights under the Letter Agreement, as amended, to Regency.

The terms of the sale have not changed materially from those previously announced