June 8, 2010 -- Vancouver, B.C. and Lima, Peru -- Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) ("the Company") is pleased to announce that Kallpa Securities SAB (Kallpa) is the Company's sponsor for the Lima Stock Exchange (BVL). Kallpa is a Peruvian investment company specializing in sales, trading and capital markets. Kallpa commenced operations in October 2008 and now ranks 12th by volume traded among 24 Peruvian brokers with a 4% market share in the Peruvian market.
As Panoro's sponsor Kallpa will support the marketing process of the Company's common shares on the Lima Stock Exchange. Kallpa will provide all services required by the BVL and any other regulatory entities to duly fulfill local requirements relating to all marketing activities in compliance with the BVL and CONASEV Regulatory bodies. Kallpa will also provide Panoro with market information, organization of meetings with main participants in the Peruvian market (Institutional investors, retail investors, brokerage firms) and preparation of marketing documents and research. Kallpa will also provide regular updates of Panoro to the Peruvian investor class. In return, Kallpa will receive at least USD $20,000/year for their services.
Kallpa's CEO, Mr. Alberto Arispe will work closely with Mr. Christian Pilon, Director and Vice President of Panoro, to promote the strength of Panoro as a junior exploration company. Mr. Arispe holds an MBA from the Stern School of Business from New York University and a Bachelor of Economics degree from Pontificia Universidad Catolica del Peru. He has 16 years of experience in the international financial system. Between 2005 and 2008, he was Managing Director at the Lima Stock Exchange and during the years 2000 through 2005 he was Vice President of the Emerging Markets Division at Fox-Pitt Kelton Inc., a subsidiary of Swiss Re Corp based in New York City.
"We are proud to be the Sponsor of Panoro Minerals in Peru", commented Mr. Arispe. "Panoro is pleased to have Kallpa Securities as our sponsor, I am sure they are going to help us in our development and growth in the Peruvian Market" said Mr. Pilon, Director and VP of Panoro Minerals.
On behalf of the Board of
Panoro Minerals Ltd.
Luquman Shaheen, M.B.A., P.Eng., P.E.
President, CEO and Director
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:
Jim Glass, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 225
This release was prepared by management of the Company who takes full responsibility for its contents. 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.