Vancouver, B.C. and Lima, July 3, 2007. Panoro Minerals Ltd. (The Company) is pleased to announce the appointment of Mr. Michael Kerfoot as Chief Financial Officer of the Company, effective June 27, 2007.
Mr Kerfoot is a Chartered Accountant with extensive experience with mining companies. He spent four years as a member of the mining group at KPMG LLP, where he was involved with the annual audits of a number of development and production stage mining companies and developed expertise in Canadian, U.S., and international accounting and reporting practices. Most recently, Mr. Kerfoot served as a Senior Accounting Manager for a major Canadian tungsten producer where he was responsible for supervising the financial statement audit as well as designing and implementing new procedures and controls over the financial reporting process. Mr. Kerfoot is a graduate with distinction from the University of Victoria with a degree in International Business.
With the growth of Panoro into a company with two advanced and thirteen earlier stage exploration projects in Peru Mr. Kerfoot will provide Panoro with the necessary in house expertise to meet the increasing regulatory and reporting requirements of the industry.
The company also wishes to announce that during the month of June it has granted an aggregate 400,000 options under the provisions of its Approved Stock Option Plan to new employees and officers of Panoro and its Peruvian subsidiaries at exercise prices ranging from $0.53 to $0.62.
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 firstname.lastname@example.org 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.