SAVANNAH (SALLY MALAY)

Panoramic Resources Ltd reported operational results at its Western Australia projects for the quarter ended September 30, 2010. The Savannah mine produced 1,893t nickel, 1,014t copper and 99t copper contained for the quarter with production of all three metals above our quarterly budget. Quarterly production from Lanfranchi mine was 97,914t of ore at 2.33% nickel for 2,281t nickel contained. During the quarter, BHP Billiton Nickel West formally accepted ore deliveries from Lanfranchi in excess of 350,000 tonnes.

Panoramic Resources reported highlights of the financial 2010 at its Australian operations. At the Savannah nickel mine 673,894 t ore were milled at 1.25% Ni for a total of 7,273 t Ni, 4,019 t Cu and 387 t Co in concentrate. Maiden Ore Reserve of 43,200 t Ni, 23,200 t Cu, and 2,160 t Co announced for the Lower Zone, between 500 m and 900 m below surface. An extended Concentrate Sales Agreement was signed with Jinchuan with terms similar to the 2003 Concentrate Sales Agreement. The Off-take Agreement is for 100% of the nickel concentrate from the Savannah Project for a further ten years, from 1 April 2010. At their Lanfranchi nickel mine 398,920 t of ore were mined and they contained 10,122 t Ni and 838 t Cu. At Cowan gold and nickel project drill testing of a 11 EM targets occurred during the year and while none resulted in the discovery of new nickel orebodies our understanding of the geology of the tenements has improved, and there remains numerous targets to be drill tested. At Bluebush JV three of the five drill targets identified in our search for Iron Ore Copper Gold style orebodies were tested during the year and one hole confirmed the presence of potential copper-gold host rocks beneath Palaeozoic cover and returned an anomalous intersection of 1m at 0.14 g/t gold from 293 m. The best two anomalies will be drill tested in 2010/11.

Panoramic Resources Ltd. and Sino Nickel Pty Ltd announced that have signed the extended concentrate sales agreement, which covers 100% of the concentrate from the Savannah Nickel Project, for a further 10 years from 1 April 2010.