Fireweed Prospect Added To The Boulder Creek Project

VANCOUVER - Panther Minerals Inc. reported on the Fireweed Prospect, a uranium discovery located approximately 28 km northwest of the Boulder Creek Uranium deposit. The Fireweed mineralization was discovered in outcrop through the investigation of a strong radiometric anomaly detected by Triex's regional exploration program. The anomaly was visited in 2006, and four samples taken, with sample #95812 returning 0.82% U3O8 (6,950 ppm U) from "granitic, stained brick red by pervasive hematite, with specks of black mineral, likely pitchblende, forming about 2% of the sample" (Triex Internal Company Report - 2006 Report on Boulder Creek Property).

In 2007 Triex returned to the Fireweed Showing and completed 22 line-km of ground magnetic susceptibility and radiometric surveying, rock and soil sampling survey and prospecting. As reported in Triex First Quarter of Fiscal 2008 (Three Months Ended October 31, 2007):

"Twenty-one (21 ) rock samples collected from three main areas along the contact contain from 0.14% to 0.81% U308. These data confirm the 0.82% U308 value obtained from the single sample collected during a brief site visit in 2006. More than 300 sub-angular radioactive pebbles of silica-hematite rock have been identified from 130 mapped sites which cover an area of approximately 1,800 metres long east-west by 700 metres wide north-south. A quick, first-pass drill test was done at Fireweed in September, … Five short drill holes were completed for a total of 267 metres. Overburden in four of five holes was only 1.5 metres thick. Quartz syenite is predominant and in all five holes there is lesser feldspar that locally reads 2 - 3 times background radioactivity. Brick red hematite-silica zones similar in appearance to the pebbles mapped on surface were observed in Hole 5 and were five times background radioactivity."

Based on the data reviewed to date, and as indicated in the Triex reports, the size and strength of the anomalies (airborne radiometric, ground radiometric, rock sampling, and soil geochemistry) at the Fireweed Prospect are much larger and stronger, than at the Boulder Creek deposit. The values from one season of sampling are very encouraging and represents another priority target for the Company. In addition, although at an early exploration stage, the Fireweed mineralization differs substantially from that at the Boulder Creek deposit.

"We are excited to provide additional information relating to the Fireweed prospect on our Boulder Creek project" stated Rob Birmingham, President. "Through our recent property expansion, adding in this portion of the project was crucial, as the previous discovery of mineralization offers a significant opportunity to add value to Panther."