News Releases

Vancouver, B.C., May 14, 2007 - Panoro Minerals Ltd., TSX-V: PML; Frankfurt: PZM, WKN914959, (the "Company") is pleased to announce that further to its news release dated April 16, 2007, it has agreed to the pricing of the brokered private placement of Subscription Receipts. The price of each Panoro Subscription Receipt will be $0.60. Each Subscription Receipt will be exchanged for one unit (a "Unit") of Panoro immediately prior to the closing of the Panoro's acquisition of Cordillera de las Minas S.A. ("CDLM"). Each Unit will consist of one common share of Panoro and one-half of one common share purchase warrant (a "Warrant") with each full Warrant entitling the holder thereof to acquire one additional Common Share of Panoro at a price of $0.75 per share for a period of 24 months following closing of the private placement. In the event that the acquisition of CDLM does not occur within 120 days following closing of the private placement, the Subscription Receipts will be cancelled and holders thereof will be refunded their purchase price. The Subscription Receipts and the Units will be subject to a statutory hold period of four months from the date of closing.

Panoro's agents, Research Capital Corporation and Canaccord Capital Corporation (the "Agents"), will receive a commission of 7% of the gross proceeds from the private placement. In addition, the Agents will be issued Compensation Options entitling them to acquire up to that number of Units equal to 10% of the number of Subscription Receipts sold. Each Compensation Option will be exercisable at a price of $0.60 per Unit for a period of two years following the completion of Panoro's acquisition of CDLM. Units issuable pursuant to the exercise of the Compensation Options shall have the same terms and conditions as the Units to be issued to purchasers of the Subscription Receipts.

The private placement is expected to close on or about May 24, 2007 and raise minimum gross proceeds of $17 million and maximum gross proceeds of $ 20,000,400.00 at $0.60. Panoro will use the net proceeds from the private placement to finance the acquisition of CDLM, for exploration and development purposes and for corporate and general purposes.

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). For investor inquiries, please call 604-684 4246, send an e-mail to or visit the company's website at

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.

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