Black Panther Extends Term of Share Purchase Warrants

Trading symbol: TSX-V: BPC News Release No. 11-04

Black Panther Extends Term of Share Purchase Warrants

West Vancouver, British Columbia – May 27, 2011 – Black Panther Mining Corp. (the “Company” or “Black Panther”) wishes to announce the extension of the term for certain previously issued share purchase warrants.

In connection with a private placement that the Company completed on June 11, 2009, an aggregate of 1,035,000 share purchase warrants (the “Warrants”) were issued with an exercise price of $0.15 per share and an expiry date of June 11, 2010. By letter dated May 25, 2010, the TSX Venture Exchange accepted the Company’s application to extend the Warrants by one year to June 11, 2011 with an increased exercise price of $0.20 per share. The Company has filed a further application with the TSX Venture Exchange to extend the term for exercising the Warrants by one additional year to June 11, 2012, with the exercise price of $0.20 per share remaining unchanged.

For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, Robert A. Young, Investor Relations, at 604-682-5123 or visit the Company’s website at www.blackpanthermining.com.

Black Panther Mining Corp.

“Douglas L. Mason”

_________________________________ Douglas L. Mason, Director (Chairman)

Neither the TSX Venture Exchange nor its Regulation Services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.