Panoro Minerals Announces Closing of Sale of Antilla Copper Project. Click here to see the Press Release.

On December 3, 2021, the Company completed a sale of 75% of its interest in the Company’s subsidiary, Antilla Copper, S.A. (“Antilla Copper”) which holds the Antilla project, an advanced stage mineral exploration project (the “Antilla Project”).

The net smelter returns royalty (“NSR”) to Panoro over the life of the Antilla Project will include an existing 2.0% NSR; and an additional 1.0% NSR if the Company’s ownership in Antilla Copper is diluted to below 5%.

ABOUT THE PROJECT

The Antilla project is a copper-molybdenum porphyry deposit, located 140 km south west of the city of Cusco, in the Apurimac region in Southern Peru. The hypogene copper mineralization was introduced by porphyry stocks outcropping in the property and is hosted in a sandstone sediments package with an extended development of supergene/secondary sulphide copper mineralization near the surface. The current mineral resources drilled cover an area of 1.5 km x 1.6 km but the exploration targets un-drilled and hosted in the sandstone cover an area of 3 km x 6 km suggesting a very attractive geologic potential open for exploration drilling.