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To: Lee Walsh who wrote (4771)	10/19/1998 1:50:00 PM
From: Frank Fontaine	Respond to of 9440

Negotiations Started to Merge Minera Humaya With Panther Resources Business Wire - October 19, 1998 13:25 VANCOUVER, B.C.--(BUSINESS WIRE)--Oct. 19, 1998--Gordon Muir, CEO of Panther Resources (Nasdaq BB:PTHR), wishes to announce that negotiations have begun between Panther and Minera Humaya to merge these two companies which will eliminate the current purchase agreement. While in Mexico, on Oct. 15, 1998, the executives of Minera Humaya and Panther Resources signed an agreement resulting in Minera Humaya being responsible for the administration of the operations and Panther Resources taking over responsibility for all of the mining and milling functions at the La Verde properties. This agreement marks the beginning of a new relationship with the two companies. Panther Resources is a silver mining company currently working in Sinaloa Mexico on the properties known as La Verde. For further details on this new arrangement or for further information, please contact our office toll-free at 888/346-3456 or at 604/689-5377, or visit our comprehensive web-site at pthr.com. Certain statements in this Corporate Update 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. CONTACT: Margie Adelman, 561/998-4888