Vancouver, B.C. and Lima, Perú, April 17, 2008. Panoro Minerals Ltd. (the Company) announces that the Board of Directors and its long-time President Mr. Helmut Wober, P.Eng. have appointed Mr. Luquman Shaheen, P.Eng., P.E., M.B.A, to assume the position of President and CEO of the Company effective April 16, 2008.
Helmut Wober, who has led the Company and its predecessor Panoro Resources Ltd. since March 1999, is retiring from active duty at the age of 71. Mr. Wober will remain a Director of the Company and will be available to the Board and to Mr. Shaheen as an advisor or for special assignments. Mr. Wober and Mr. Shaheen will overlap for a period of approximately one month.
Mr. Shaheen is coming to Panoro from Pan American Silver Corp. Ltd. where he has held a Senior Management position as Director of Environmental Affairs, a portfolio that includes responsibility for environmental policy, waste management, permitting as well as community relations for six operating mines and two development projects in Latin America.
Mr. Shaheen has 18 years' of experience within the international mining sector, with over 12 years dedicated to Latin America. He has a Bachelor's degree in Civil Engineering from the University of British Columbia and an MBA from Simon Fraser University, both in Vancouver, Canada. He is a Registered Professional Engineer in the Province of British Columbia, Canada and the States of Washington and Alaska in the USA as well as a Licensed Engineer in Perú. Mr. Shaheen is fluent in English, Spanish, Punjabi and Urdu.
Between 2001 and 2006 Mr. Shaheen was Manager of Mining Services for Latin America for AMEC Earth and Environmental, one of the largest engineering firms in the Industry. In this position he was responsible for growing the firms' mining services business in the region as well as managing engineering and construction projects for key mining clients in Perú, Bolivia, Argentina and Mexico. From 1996 to 2001, Mr. Shaheen resided in Lima, Perú, where he was first the Head of the Geotechnical Group for Klohn Crippen-SVS S.A. and then Manager of the Environmental Group for AMEC Perú S.A. Prior to 1996 Mr. Shaheen worked as a staff and project engineer in various capacities in Canada, the United States and Greece.
Mr. Shaheen brings unique technical and management capabilities to the Company that are ideally suited for the advancement of its core projects Antilla and Cotabambas. Mr. Shaheen has been personally known to two of the Company's Directors for over 10 years.
Mr. Shaheen has been granted options to purchase 600,000 shares under the provisions of the Company's Stock Option Plan.
Mr. Shaheen has been appointed a Director of the Company effective April 16, 2008.
We have been fortunate to attract Mr. Shaheen, whose experience is ideal for our current stage of development. We wish to thank Mr. Wober for his enormous contribution to the Company since its formation, and we look forward to Mr. Wober continuing with Panoro as a Director and advisor.
On behalf of the Board of
Panoro Minerals Ltd.
C. Allen Born
Chairman of the Board
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.