Vancouver, BC, June 7, 2010 - Panoro Minerals Ltd. ("Panoro" or the "Company) (TSX-V: PML, Frankfurt: PZM, Bolsa de Valores Lima Junior Board: PML) As a result of a review by the British Columbia Securities Commission, we are issuing the following press release to clarify our disclosure.
The Company would like to announce that it has filed on SEDAR an amended and restated MD&A for the year ending December 31, 2009 (the "Amended and Restated MD&A"). The Amended and Restated MD&A now includes disclosure as to the conclusion of management regarding the effectiveness of the Company's internal controls over financial reporting for the year ending December 31, 2009. The steps taken do not alter the financial results reported for this period.
About Panoro Minerals Ltd.
Panoro's strategic focus is to move its advanced stage Copper and Copper/Gold projects to feasibility and development stages and to explore its other projects.
The Company's most advanced projects, Cotabambas and Antilla, contain NI 43-101 compliant inferred resources of:
| Cotabambas | 114 Mt @ 0.68% Cu and 0.38 g/t Au at 0.30% Cu cut-off |
| Antilla | 154 Mt @ 0.47% Cu and 0.009% Mo at 0.25% Cu cut-off |
The Antilla project is being explored as part of the JV agreement with Chancadora Centauro S.A.C in return for US $8 million cash to Panoro and a work commitment of US $17 million. The company has eleven other exploration projects, all located in Peru. Priority projects for the Company are the Kusiorcco Porphyry Copper Project, the El Rosal Polymetalic Project and the Cochasayhuas Gold Project.
FOR FURTHER INFORMATION, CONTACT:
Panoro Minerals Ltd.
Luquman Shaheen, President & CEO
Phone: 604.68.4246
Fax:604.684.4200
Email: info@panoro.com
Web: www.panoro.com
Investor Relations
Jim Glass, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 225
Phone: 866.684.4209
Email: jim@ascentacapital.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
