Mr. Luquman Shaheen reports

PANORO SIGNS COOPERATION AGREEMENT WITH THE MUNICIPALITY OF COTABAMBAS FOR THE COTABAMBAS COPPER/GOLD/SILVER PROJECT, PERU

Panoro Minerals Ltd. has signed a co-operation agreement with the Municipality of Cotabambas. The agreement reaffirms the commitment of both the company and the municipality to jointly promote social development alongside the advancement of the Cotabambas project, thereby contributing to the well-being and sustainable development of local communities.

Led by the municipality, initiatives will focus primarily on upgrading local roads and access routes throughout the eight neighbourhoods that comprise the municipality of Cotabambas with the objective of improving connectivity, infrastructure and overall living conditions for local residents. The development vision of each of the eight neighbourhood presidents helped shape the agreement.

This new agreement carries the same spirit of collaboration as in previous years, when similar co-operation agreements were signed with earlier municipal administrations.

This agreement and previous agreements speak to the importance of Panoro's work in the area and the significant benefits of the Cotabambas project to the municipality and the district.

Panoro is also proud to have been invited once again to take part in the 2026 Independence Day parade in the District of Cotabambas, held on July 29, 2026, an event that reflects the company's Peruvian national pride and commitment to Peru's economic and social development.

"We are very excited to be strengthening our presence and our commitment to the District of Cotabambas. This agreement reaffirms our commitment to work hand in hand with the municipality and the communities of Cotabambas, contributing to a relationship of trust and collaboration and combining our efforts toward shared long-term goals," stated Luquman Shaheen, president and chief executive officer.

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 copper, 0.44 g/t Au and 4.12 g/t Ag;
• Inferred mineral resources of an estimated 93.1 million tonnes grading 0.59 per cent Cu, 0.41 g/t Au and 5.31 g/t Ag.

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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