An understrength Penrith have secured their second NRL minor premiership in three years with a thrilling 26-22 defeat of red-hot South Sydney at Stadium Australia. 

An ankle injury put his season in doubt a week ago and his night was stymied by two bombed tries, but Panthers back-rower Liam Martin stood up when it counted, capping his miraculous recovery by sealing victory with a try in the last two minutes.

Still without three of their best in Nathan Cleary, James Fisher-Harris (suspensions) and Jarome Luai (knee injury), the task was lofty for Penrith on Thursday night.

The Rabbitohs, virtually at full strength, had lost just once since Latrell Mitchell's recovery from his hamstring injury (in golden point) and had averaged more points than any other side in the games since representative round.

But, inspired by their own fullback Dylan Edwards' return from injury, the Panthers rediscovered the physicality that eluded them against Melbourne last week and took it up to the Rabbitohs in a match of finals-like intensity.

Penrith had the mental edge early when Stephen Crichton pounced on a wayward South Sydney pass and streaked away for an intercept try — just as he did against the Rabbitohs in the 2021 Grand Final.

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The Rabbitohs announced their intentions to attack wide and struck back through winger Alex Johnston, who has now scored at least one try in each of his last seven games.

South Sydney broke the line more easily than their opponents but had to be content with a 12-12 half-time scoreline after the errors that haunted them earlier in the season began to resurface.

Both sides blew their fair share of chances.

Martin bombed two tries in goal, while Souths winger Jaxson Paulo coughed the ball up twice on the burst and knocked on in goal himself.

The Panthers looked ready to go on with the contest after Spencer Leniu pounced on the ball in goal, which had been knocked back by his old rival Jai Arrow.

But the Rabbitohs' famous edge attack produced two tries to keep Souths in the fight, the second coming after some classy quick hands from Cody Walker which allowed Johnston to dot down for his second try.

When Paulo knocked on yet again in the danger zone, the Panthers were in position to secure a heart-stopping win.

It was a mixed night for superstar Mitchell, who was made to work harder at the back than he would have liked by Sean O'Sullivan and his long kicking game.

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Mitchell threw a beautiful ball that helped Souths equalise just before halftime and slotted the sideline conversion that gave the Rabbitohs the lead with 10 minutes to play.

But he came up with some hospital passes that put serious pressure on his teammates, particularly when the game was in the balance late.

The loss all but confirmed South Sydney won't finish the season in the top four.

The Rabbitohs' form will give them reason to believe they can win it all from the bottom half of the top eight, but finishing in the four would have spared them an elimination final against the other premiership smoky, the Sydney Roosters.

For the Panthers, the victory proved that even if Cleary and Luai take a week to find their chemistry when they return in the finals, the Panthers still have the stocks to compete.

AAP

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