Vancouver, B.C. and Lima, December 3, 2007. Panoro Minerals Ltd. (the Company) is pleased to confirm that the final permit document for a seven hole drilling program at its El Rosal Project has now been issued by the Peruvian Ministry of Energy and Mines.
The Company has commenced field work in preparations for a drilling program with a daily crew of fifteen men from the local community of La Ramada and two geologists. All together 95 people will be employed on a rotational basis.
The work program for the immediate future foresees the rehabilitation and construction of access routes and drill platforms. Some additional in-fill geological mapping in specific areas will also be carried out.
While the Company is still expecting a proposal from a potential Joint Venture partner for the El Rosal and La Ramada project, the Company is committed to a drill program on the El Rosal and La Ramada Project in 2008, subject to the availability of a drill rig.
The El Rosal property in Lambayeque and Cajamarca Departments, northwestern Peru, is a porphyry Cu-Au prospect with related Cu-Zn-Ag and Cu-Au skarn mineralization. Panoro Minerals Ltd. has acquired a 100% clear interest in the property since beginning work in 1998.
The project has two defined targets arising from surface showings, geochemical, geological and geophysical work and a limited amount of drilling on each target. The “El Rosal Target” is the most advanced, having seen drilling of nine holes in two campaigns (2000 and 2004), which together with other data indicates the presence at depth of a copper porphyry (+ copper-zinc skarn) system of potentially large size. The “La Ramada Target”, identified by geology, geochemistry, geophysical surveys and copper-gold showings, with four drill holes to date, represents a potential second system with large tonnage potential and with the added attraction of a significant gold component.
On behalf of the Board of
Panoro Minerals Ltd.
Helmut H. Wober, P.Eng.,
President and Director
Panoro Minerals Ltd. is a Canadian mineral exploration company trading on the TSX Venture Exchange (PML) and on the Frankfurt Stock Exchange (PZM, WKN 914959) and on the Junior Board of the Lima Exchange. Panoro’s strategic focus is on exploring for large-potential gold and copper/gold deposits in countries with the corresponding geological potential and where the right political and economic conditions are present. For investor inquiries please call 604-684 4246, or send an e-mail to email@example.com or visit the company’s website at www.panoro.com.
This release was prepared by management of the Company who takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.