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Microcap & Penny Stocks : Panther Resources Ltd. (PTHR NASD BB) -- Ignore unavailable to you. Want to Upgrade?

To: billy who wrote (407)	7/30/1998 3:18:00 PM
From: Buster	Respond to of 618

Panther Resources, Ltd PTHR: NASD BB 211 1111 West Hastings Street, Vancouver, BC V6E 2J3 Canada Here is something I received in my Email today Buster Ph: (604) 689-5377 Fax: (604) 681-3585 Email: info@pthr.com Website: www.pthr.com July 30, 1998 PANTHER RESOURCES ANNOUNCES: Mineralized Zone Continues Symbol: PTHR Exchange: OTC- BB Industry: Mining Subject: Assay Results Marshall Smith, Project Manager, reports that Mr. Chapin, Mine geologist, has reported on the latest results of the drifting (tunneling) on Level 3. Currently we are drifting along the bedded zone in Unit 2b, which has passed from lower grade conglomerate rich facies into the sulphide rich zone. The mineralization in the tunnel has a limestone contact to the southwest and is being slashed to the northeast wall to determine true width. This drift which was started on July 16 and to date is 12.1 meters in length has an average width of seven meters for the first 4 rounds. The last 4 are currently being drilled for slashing to about 5-7 meters in width. Grades in the first rounds range from 71 to 275 grams silver and 0.25 to 0.55 percent copper per tonne. Assays are pending for the other rounds in this drift. The last four blasts from the 23rd through the 26th of July, 1998, which average 1.2 meters in advance each, have intersected a very high-grade zone of mineralization. Tom Chapin has reported that this zone visually has massive areas of tetrahedrite and chalcopyrite. Mr. Chapin reports that "shots 6,7,8, and 50% of 9 are probably high grade, with lots of visible tetrahedrite and some chalcopyrite." Sr. Navarro (mine manager) has reported to Mr. Chapin that the muck assay of blast six ran 380 gt/Ag (13.4 oz/per tonne). Mr. Chapin further states that "visually blast 8 was excellent with honeycomb style chalcopyrite and tetrahedrite in the rock. The face of blast 9 was loaded with tetrahedrite 3-5% and the back of the blast had 50% of it in similar material." Marshall Smith states "this data from the drift clearly proves we were correct with our earlier predictions as to blocking vs drilling to prove up the reserves. If we had used diamond drilling we could have underestimated the entire ore body, as it would clearly have understated the true value of the 3 and possibly 4 new zones of mineralization. These newly discovered extensions of the previous zones of mineralization will be measured by bulk sampling both on drifts and raised to determine the average grade for reserve definition for the apparent strike length of 180 meters for these new extensions to the ore body. This method of proving up reserves will also defray the costs as we are drifting in mill grade ore." Panther Resources is an active mining and exploration company with over 100,000 ha of property including the La Verde Mine, which is a producing silver/copper mine in the state of Sinaloa, Mexico producing over 400,000 ounces of silver annually. For further information on our company, please contact our office at 604-689-5377 or Fax: 604-689-3744 or visit our web-site www.pthr.com. Certain statements in this News Release constitute "forward-looking" statements' within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.