Vancouver, B.C. and Lima, October 4, 2007. Panoro Minerals Ltd. (the Company) would like to inform its shareholders that the Government of Peru has asked the Congress to enact a law that would facilitate the advancement of and accelerate investments into the 20 mining exploration and development projects it has designated as Projects of National Importance. Two of the Company's projects, Antilla and Cotabambas, are part of this list of prominent projects. Other projects on this list include Las Bambas (Xstrata) and Los Chancas (Grupo Mexico) which are located in the same region as the Company's projects and La Granja (Rio Tinto), Michiquillay and Quellaveco (Anglo American), Toromocho (Peru Copper) and Rio Blanco (Zijin Consortium). The Bayovar phosphate projects of Companhia Vale do Rio Doce (CVRD) in the north of Peru are also part of the list.
The inclusion of the Company's two flagship projects is particularly gratifying for its recognition of the value of these projects and, if and when enacted, the legislation should provide the Company and its projects with special attention from the authorities in helping and expediting their advancement. However, the Company would like to caution against excessive expectations as a result of this proposed legislation, which may take some time to go through the parliamentary process before its enactment can have the desired effect.
With the recent community approval of the El Rosal project in the north, the company has focused on arranging meetings with the communities that host Antilla, Cotabambas and Kusiorcco projects in order to obtain similar approvals.
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.