Vancouver, B.C., March 4, 2013 - Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) ("Panoro" or the "Company") announces that, 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 has re-filed its annual information form for the financial year ended December 31, 2011 (the "AIF") as a result of a review of the annual information form dated as of April 30, 2012. A description of the revisions to the AIF are as follows:

• Included a reference and summarized information from the technical report prepared by AMEC dated June 1, 2009, as amended August 23, 2009 entitled "Restated, Amended Technical Report on the Antilla Property" regarding the Antilla property.
• Included a reference and summarized information from the technical report prepared by AMEC dated July 24, 2012 entitled "Cotabambas Copper-Gold Project - National Instrument 43-101 Technical Report on a Mineral Resource Estimate" for the Cotabambas project.

In addition, the Company has re-filed its management's discussion and analysis for the three and nine month periods ended September 30, 2012 (the "Q3 MD&A"). A description of the revisions to the Q3 MD&A are as follows:

• Additional disclosure of the factors that have caused period to period variations of each of the three most recently completed financial years.
• Additional disclosure of analysis of its operations for the nine months ended September 30, 2012.
• Additional disclosure regarding comparison of previous disclosure of use of proceeds from previous financings with subsequent use of proceeds by the Company.
• Additional disclosure of discussion of factors that caused variations over the previous quarters, including any applicability of seasonality of the business.
• Additional disclosure of commitments for capital expenditures.
• Additional disclosure of related party transactions.

On behalf of the Board of Panoro Minerals Ltd.

Luquman Shaheen, M.B.A., P.Eng., P.E.
President & CEO

FOR FURTHER INFORMATION, CONTACT:
Panoro Minerals Ltd.
Luquman Shaheen, President & CEO
Phone:604.684.4246
Fax: 604.684.4200
Email: info@panoro.com
Web: www.panoro.com

Renmark Financial Communications Inc.
Barbara Komorowski: bkomorowski@renmarkfinancial.com
Barry Mire: bmire@renmarkfinancial.com
Media - Lynn Butler: lbutler@renmarkfinancial.com
Tel.: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com

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.