Vancouver, B.C. and Lima, June 2, 2008. Panoro Minerals Ltd. (the Company) is pleased to announce that it has commenced the 10,000 meter drilling program at its Antilla project in Peru. Drilling of the first hole, ANT-20, was started on May 24 and completed at a depth of 180 meters on May 29. It is located in the East Block zone which comprises an Exploration Target with geological potential of ±135 MT at 90% confidence of 0.63%-0.79% copper "untrimmed" or ±135 MT at 90% confidence of 0.61%-0.75% "trimmed" ("trimmed" means all 2m assay intervals over 1.5% copper reduced to 1.5% copper).

Two additional drill rigs have been mobilized and have arrived on site. The company plans to deploy them initially on the East Block to hasten the completion of the 37 infill holes planned for this area prior to deployment to the West Block or the Center Block. All drill rigs are operated by Bradley MDH of Lima, Peru.

The reader is cautioned that the potential quantity and grade of Exploration Targets as described in this release is conceptual in nature, that there has been insufficient exploration to date to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.

On behalf of the Board of
Panoro Minerals Ltd.

Luquman Shaheen, M.B.A., P.Eng., P.E.
President, CEO and Director

ABOUT PANORO

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 info@panoro.com or visit the company's website at www.panoro.com.