Black Panther Closes Private Placement

News Release No: 11-11

Trading symbols:

TSX-V: BPC Frankfurt: BP4

Black Panther Closes Private Placement

West Vancouver, British Columbia – October 11, 2011 – Black Panther Mining Corp. (the “Company” or “Black Panther”) is pleased to announce that, further to its news release dated September 21, 2011, the Company has closed its non-brokered private placement (the “Private Placement”). The Company has raised $134,000 by the issuance of 1,340,000 flow through units (the “Units”) at a price of $0.10 per Unit. Each Unit consists of one flow through common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of 24 months at an exercise price of $0.11 in the first 12 months and $0.15 thereafter. All of the securities issued pursuant to this Private Placement are subject to a hold period expiring on February 8, 2012.

The Company has used the proceeds from this Private Placement for furthering the exploration of the Company’s Voisey’s Bay (copper, nickel, cobalt) property in Labrador (the “1506 Property Project”).

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

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