Mr. Jeffrey Mason reports

GREAT PANTHER ANNOUNCES US$11.25 MILLION GOLD DORE PREPAYMENT

Great Panther Mining Ltd. has entered into an $11.25-million (U.S.) gold dore prepayment agreement with Samsung C&T U.K. Ltd., a wholly owned subsidiary of Samsung C&T Corp, headquartered in Seoul, South Korea, and a part of the Samsung Group.

In consideration of delivery and sale of approximately 3,000 ounces of gold contained in dore per month over a two-year period from our Tucano gold mine, Samsung has agreed to advance an $11.25-million (U.S.) prepayment to Great Panther. Gold deliveries will be sold at a 0.65-per-cent discount to the benchmark price of gold at the time of delivery and will be used to offset repayments of the advance, which are scheduled to occur between 11 to 24 months after the date of the advance. The advance will bear interest at an annual rate of three-month U.S.-dollar London interbank offered rate plus 5 per cent and is secured by a pledge of all equity interests in Great Panther's Brazilian subsidiary that owns the Tucano gold mine. Great Panther has a full option for early repayment of the advance, subject to a 3-per-cent penalty applied to the outstanding balance. The agreement also provides Samsung a right of offer for concentrates produced from the company's Coricancha mine project in certain circumstances. The transaction is expected to close with the financing of the advance by February, 2020.

"We are delighted to announce this key partnership with Samsung," stated Jeffrey Mason, interim president and chief executive officer. "Together with the $10-million (U.S.) concentrate prepayment we announced on Dec. 30, this provides over $21-million (U.S.) in new capital as we begin a pivotal year for Great Panther. This partnership also serves as a strong endorsement of our Tucano gold mine in Brazil and our Coricancha mine project in Peru."

About Great Panther Mining Ltd.

Great Panther Mining is an intermediate gold and silver mining and exploration company listed on the Toronto Stock Exchange trading under the symbol GPR, and on the NYSE American under the symbol GPL. Great Panther operates three mines including the Tucano gold mine in Amapa state, Brazil, and two primary silver mines in Mexico: the Guanajuato mine complex and the Topia mine.

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