Mr. Luquman Shaheen reports

PANORO MINERALS COMPLETES AGREEMENT WITH COMMUNITY OF GUACLLE AT THE COTABAMBAS CU/AU/AG PROJECT, PERU

Panoro Minerals Ltd. has completed a surface access agreement with the community of Guaclle at the company's 100-per-cent-owned Cotabambas copper/gold/silver project in Peru.

The agreement with the community of Guaclle will allow the company to carry out exploration work at target No. 7, where multiple outcrops of high-grade skarn mineralization have been sampled over a four-square-kilometre area. Target No. 7 is one of 19 targets identified at the 165-square-kilometre Cotabambas project, where grades of up to 19 per cent copper have been sampled at surface. The mineral resource at the Cotabambas project is contained within targets No. 1 and No. 2.

The agreement represents an important milestone in the advancement of the project, providing the company with the surface access required to continue its planned exploration activities. This achievement complements the environmental permits previously secured through the approval of the semi-detailed environmental impact assessment, which was renewed and expanded in 2024 and is valid until 2030.

With the approval in place, Panoro will proceed with an extensive technical program designed to expand and refine the high-grade exploration targets within the boundary limits of the Guaclle community. The planned exploration activities include:

• A wide program of surficial geophysics, including induced polarization, magnetics and gravity surveys;
• Detailed topographic surveys and mapping;
• Geological and structural field investigations;
• Geochemical and lithogeochemical programs to identify and prioritize new high-grade targets; and
• Integration of geophysical, geological and geochemical data sets to support drill targeting.

The above noted work program is expected to significantly enhance the company's understanding of the district-scale mineral potential at the project and identify additional opportunities to expand known mineralized zones. This work will be carried out in parallel with the already commenced drilling program at the South pit (target No. 2).

Luquman Shaheen, president and chief executive officer, stated: "The completion of the agreement with the community of Guaclle is further demonstration of the company's social licence at the Cotabambas project. This is the 10th community agreement completed by the company at the Cotabambas project, demonstrating the close, co-operative and long-term relationships built by Panoro's community relations team. Panoro's leadership team has been working together with members of the local communities for over 15 years resulting in the 10 community agreements completed to date. We look forward to expanding the existing agreements and completing additional agreements as we grow the scope of our exploration in 2026 and move the project along to development."

About Panoro Minerals Ltd.

Panoro is a Canadian mineral exploration and development company focused on advancing its 100-per-cent-owned Cotabambas copper, gold and silver project, located in the Apurimac region in southern Peru. The Cotabambas project hosts:

• Indicated mineral resources of 507.3 million tonnes grading 0.33 per cent copper, 0.20 gram per tonne gold, 2.42 g/t silver and 0.0021 per cent molybdenum; and
• Inferred mineral resources of 496.0 million tonnes grading 0.27 per cent copper, 0.17 g/t gold, 2.53 g/t silver and 0.0027 per cent molybdenum.

Within this resource is a higher-grade component comprising:

• Indicated mineral resource totals of 129.0 million tonnes grading 0.70 per cent Cu, 0.44 g/t Au and 4.12 g/t Ag:
  • Containing approximately 2.0 billion pounds of copper, 1.8 million ounces of gold and 17.1 million ounces of silver; and
• Inferred resources of an estimated at 93.1 million tonnes grading 0.59 per cent Cu, 0.41 g/t Au and 5.31 g/t Ag:
  • Containing approximately 1.2 billion pounds of copper, 1.2 million ounces of gold and 15.9 million ounces of silver.

The company is targeting expansion of its higher-grade resources with its current drill program.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Luis Vela, PGeo, vice-president, exploration, a qualified person under National Instrument 43-101.

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