Panoramic Resources Limited provided an update on ongoing infill underground Resource definition drilling at the Company's Savannah Nickel Project in Western Australia. The first drill hole completed from the 1381 Drill Drive East, KUD1875, was designed to test the northerly trending Upper Mineralization Lens in this area. A mineralized intersection was achieved at the target depth of 63.2m, thereby appearing to confirm the geological model.

In addition, KUD1875 intersected an unanticipated 5.7m zone of semi-massive breccia sulphide mineralization near the start of hole from 3.3m downhole. Assay results have now been received for KUD1875: 5.7m at 1.47% Ni, 0.63% Cu and 0.07% Co from 3.3m (Upper Splay); 2.6m at 1.70% Ni, 0.26% Cu and 0.06% Co from 63.2m (Upper Mineralization Lens). The two intercepts detail the intersection of mineralization on the Upper Splay and Upper Mineralization Lens.

Encouragingly, both intercepts represent mineable width and grade that are within close proximity to existing Savannah North underground infrastructure. Additional drilling is planned to better define the Upper Splay mineralization lens and will be the focus of the upcoming Savannah North drill campaign. The results show the potential to extend known mineralization and encounter new zones as drilling density increases from underground positions.