Mr. Luquman Shaheen of Panoro reports

PANORO MINERALS ANNOUNCES EXERCISE OF WARRANTS BY HUDBAY MINERALS

Hudbay Minerals Inc. has exercised 2,060,484 common share purchase warrants for the purchase of Panoro Minerals Ltd. shares, resulting in aggregate proceeds of $556,330 to the company. These share purchase warrants were exercisable until Aug. 26, 2018. After the exercise, Hudbay holds 30,823,849 common shares, or 11.74 per cent of the outstanding shares of the company.

The share purchase warrants were acquired by Hudbay as part of Panoro's non-brokered private placement financing in August, 2016. To date 4,158,391 (22.7 per cent) of the 18,358,905 share purchase warrants, exercisable at 27 cents, have been exercised, providing $1.12-million to the treasury. In 2018, Panoro will continue growing the Cotabambas project through targeted exploration drilling. The company's financial position is strong with financing already in place to 2020. The work plans, financial position and the strengthening copper market present an exciting combination for 2018 and beyond.

We seek Safe Harbor.