Mr. Luquman Shaheen reports

PANORO ANNOUNCES FULLY SUBSCRIBED NON-BROKERED PRIVATE PLACEMENT TO RAISE UP TO C$4,000,000

Panoro Minerals Ltd. is undertaking a fully subscribed non-brokered private placement offering, consisting of up to 10 million units at a price of 40 cents per unit for gross proceeds of up to $4-million. Each unit will consist of one common share of the company and one common share purchase warrant entitling the holder to purchase one common share for a period of 36 months following the closing of the offering at an exercise price of 60 cents per warrant share.

The company intends to use the net proceeds of the offering for exploration and development at the Cotabambas project, consisting of infill drilling, metallurgical testing, updating the preliminary economic assessment technical report and prefeasibility engineering, and for general working capital.

In accordance with applicable securities laws, all securities issued under the offering will be subject to a four-month-and-one-day hold period from the date of issuance. Closing of the offering is subject to certain conditions customary for transactions of this nature, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

The company may pay finders' fees and/or commissions in accordance with applicable securities laws and the policies of the TSX Venture Exchange. Red Cloud Securities Inc. is acting as a finder with respect to the offering.

About Panoro Minerals Ltd.

Panoro remains focused on completing its technical objectives, including project optimization studies, which will feed into a PEA (preliminary economic assessment) and help define the scope for the prefeasibility study for its Cotabambas project.

We seek Safe Harbor.