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Panic/recover builtins + per-frame __go-panic-cell of shape (STATE V). Body panic flips cell :none→:raised BEFORE defers drain so recover() can find it. recover() walks env chain past shadowing cells to the outermost :raised one — flips it :recovered, returns V. Frame exit checks cell: :recovered → return clean; :raised → propagate (:go-panic V). 6 tests: uncaught-from-program, panic-from-fn, defer-recover-swallow, recover-captures-via-channel, propagation-through-no-defer-chain, middle-frame-catches-deeper-panic. Shape: panic cell is a frame-attached out-of-band channel that survives function boundaries via env-chain walk. Same primitive slots into the scheduler kit's termination-record + cleanup-with- error-context hook. Maps cleanly to Erlang try/catch/after. Co-Authored-By: Claude Opus 4.7 (1M context) <noreply@anthropic.com>