Sale of Thunder Bay North Project
for $9 Million (CAD)

Key Points

• Benton Resources Inc. to acquire Panoramic PGMs (Canada) Limited
• Benton to pay Panoramic $9.0 million (CAD) in cash on settlement
• The transaction is subject to various conditions precedent

Comments from Peter Harold, Panoramic’s Managing Director “We are delighted that Benton has agreed to acquire our Thunder Bay North PGM Project via the acquisition of all the shares in our 100% subsidiary, Panoramic PGMs (Canada) Limited, which holds a 100% interest in the Project.

The timing of this sale is opportune as our focus is solely on the ramp-up of the Savannah Nickel Project in Western Australian. Thunder Bay North has not been a priority Project for us and we feel it best to move the Project on to Benton Resources, a Canadian explorer with a proven track recorded of fund raising and successful exploration in Canada. We still retain a significant exposure to PGMs via our 100% ownership of the Panton PGM Project which is only 60km south of Savannah.

We look forward to concluding the sale transaction with Benton and wish them every success with Thunder Bay North in the future.”