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Panoro Minerals Ltd. is pleased to announce that the final permit document for the proposed exploration program at its Antilla Project has been issued by the Peruvian Ministry of Energy and Mines.

Bradley MDH of Lima, Peru has been awarded the drilling contract for the Antilla Project and has commenced mobilization of two drill rigs to site.

The Company is advancing all preparations for the commencement of the drilling program.

In accordance with the Company's agreement with the community of Antilla, a work force of at least 30 people from the community are employed on a rotational basis for these activities.

The Company's Flagship Antilla Project (7,400 hectares) is at an advanced exploration stage.

Mineralization consists of a zone of supergene enrichment of porphyry-style copper mineralization and secondary biotite alteration developed in a package of quartzites and arenites and which is thought to be associated with an underlying intrusive.

The mineralization consists of predominantly sulphides (chalcocite, chalcopyrite and pyrite) associated with quartz stock-works, veinlets and disseminations.

The project has to date been explored by 4,012 metres of diamond drilling in 19 holes of which 8 holes lie within the so-called East Block of mineralization.

SRK Consulting (see Report on the Company's web site) has provided a global estimate of geological potential of this Exploration Target based on 7 holes in the enriched chalcocite blanket on the East Block of: +/-135 million tonnes (MT) @ 90% confidence 0.63% - 0.79% copper "untrimmed" or +/-135MT @ 90% confidence 0.61% - 0.75% copper "trimmed" ("trimmed": all 2m assay intervals over 1.5% reduced to 1.5%).

The potential of an underlying porphyry system remains to be tested as well as a similar but separate supergene target to the west.

Official Press Release