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Vancouver, B.C. and Lima, Peru, December 8, 2008. Panoro Minerals Ltd. (TSX Venture Exchange “PML”) (“the Company”) is pleased to announce that the most recent results from its exploration program at the Company’s 100% owned Antilla Project in Peru have demonstrated;

  1. positive infill results confirming the continuity of the supergene enriched zone within the East Block Target Area; and
  2. the extension of the supergene enriched zone to the Northwest side of the East Block Target Area.

The table below presents a summary of the results from the infill drilling program within the East Block Target Area.

DrillholeFrom (m)To (m)Thickness (m)Cu (%)Mo (%)
ANT-4676102260.630.006
includes82102200.700.007
and14215190.410.003
ANT-4856106500.610.016
includes68106380.730.013
ANT-492876480.850.008
ANT-52160187270.380.014
ANT-55108131230.250.001
ANT-59054540.320.002
includes0660.410.001
and2842140.490.001

 

68100320.420.002
ANT-60718110.420.001
and586241.040.001
and808660.460.001
ANT-6260110500.480.012
includes60102420.520.012
and134144100.470.005

ANT-62 was extended to a depth of 757 m and encountered primary copper mineralization in the sedimentary package that is likely related to primary porphyry copper mineralization with erratic grades below the nominal cutoff grade of 0.3% adopted for the current exploration program. ANT-60 is located at the southeast boundary of the East Block Target Area confirming the thinning of the mineralization in this area however ANT-59, also located at the southeast boundary, but to the southwest of ANT-60 indicates that the mineralization extends outside the East Block Target Area in this sector.

The table below presents a summary of the results from ANT-61 which was collared approximately 70 m from the northwest side of the East Block Target Area indicating that the supergene enriched zone also extends beyond the East Block Target Area in this sector.

DrillholeFrom (m)To (m)Thickness (m)Cu (%)Mo (%)
ANT-61196242460.510.010
includes198220220.740.009

ANT-58 was collared outside the western boundary of the East Block Target Area and intersected a leached horizon with very low mineralization. Three additional drillholes have been advanced outside the northwest boundary of the East Block Target Area in order to further delineate the extension of the supergene chalchocite zone. These holes have been located between 200 m to 250 m from the boundary of the East Block Target Area. The assay results from these drillholes will be reported as they are received.

The drillhole locations are shown on the company’s website www.panoro.com/s/Image.asp?i=maps/2008-12_AntillaEastblock.gif&id=330689.

All drilling was carried out by Bradley MDH S.A. and all assay samples are being tested by ALSChemex laboratory in Lima, Peru. Fred Tejada, P.Geo., is the Company’s VP-Exploration and the Qualified Person for this project.

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, e-mail info@panoro.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.



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