"I'm really delighted to have signed this new deal to commit myself to the club for another season," Panther told the club's official website.
"We achieved great things last season and I really want to progress further and try to gain promotion to the Football League."
Panther has started 83 games for Billy McEwan's side since joining the club from Brechin City in August 2005.
He added: "The fans have been brilliant to me and the club has a place in my heart now, so it's great to staying and I can't wait for the season to start."
Source: http://www.confguide.com/newsArticle.do?id=6668