Vancouver, B.C. and Lima, June 11, 2008. Panoro Minerals Ltd. (the “Company”) is pleased to announce the intersection of significant zinc and silver mineralization in its recently completed program of drilling at the El Rosal Project in Northern Peru. A total of 3,025 metres were drilled in nine holes, eight of which were in the La Ramada zone and one in the El Rosal zone. A map showing drillhole locations is available at the Company’s website at www.panoro.com. Selected intercepts are listed in the table below:
|Drillhole||From||To||Metres||% Zn||g/t Ag||g/t Au|
Eight holes were drilled in the La Ramada area to test various skarn and hydrothermal breccia targets as well as the potential for deeper porphyry-style copper mineralization. RA08A-08 was drilled at an angle of -50° due east and intersected various zones of semi-massive to massive pyrite-sphalerite-galenachalcopyrite mineralization hosted principally in limestone. Holes RA08B-08 and RA08C-08 were drilled from the same platform at angles of -90° and -50° due west and were aimed at testing the lateral continuity of the zones encountered in RA08A-08. Numerous mineralized intervals were intersected, the best of which consisted of 8.47 metres grading 5.31% zinc and 111.6 g/t silver. Mineralization is thought to be of carbonate replacement style, similar to other significant base metal mining districts in Peru.
Holes RA07A-08 and RA07B-08 were drilled in opposite directions from the same platform, both at an angle of -60°, to test an occurrence of copper-bearing quartz veinlets in altered diorite in the southern part of the La Ramada area. Both holes intersected quartz-sericite-pyrite altered diorite cut by a stockwork of pyritic quartz veinlets with minor copper values. Holes RA05-08, RA06-08 and RA09-08 did not intersect significant mineralization.
In the El Rosal area, hole ER10-08 tested a deep porphyry copper target inferred from the results of drilling in 2004 and intersected two short intervals of skarn mineralization containing minor copper values.
All drilling was carried out by Bradley MDH S.A. and all assay samples were tested by ALS-Chemex 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
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 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.