Corporate

Directors


	William J. Boden, C.A. Chairman and Director William Boden is a Chartered Accountant with more than 30 years of experience as a manager of risk capital investments. He was founder and President of the CW Funds group of companies, affiliated with Ventures West Management Inc., for which he structured and raised financings totaling $130 million, primarily from overseas investors. Mr. Boden was a founding director of Landex Petroleum Corp.and a founder of First Coal Corporation for which he served as Chairman and CEO. The two companies were acquired for over $450 million. Prior to joining the Ventures West group in 1979, Mr. Boden held executive positions with two producing mining companies for a period of six years: Whitehorse Copper Mines Ltd. and Bethlehem Copper Corporation. Mr. Boden is also a director of Highrock Energy Ltd., a private Calgary-based oil producing company.

	Richard Mundie Director Mr. Mundie has held a number of senior leadership positions in the mining sector for over 25 years. From 2005 to 2007, Mr. Mundie was Vice President, Asia Affairs and Chief Representative (China), for Teck Cominco Limited. In this role, he was active in the international mining community and participated in several joint programs to build stronger relationships with the Chinese Government. Mr. Mundie also served as Vice President -- Commercial for 10 years with Teck Cominco, and was responsible for marketing that company's commercial mineral products in Europe, South America, United States, Japan, Korea, and Taiwan. Mr. Mundie is a graduate of University of British Columbia with a Bachelor of Commerce and is a member of the Institute of Chartered Accountants. He is currently a director of Taseko Mines Limited, owners of the Gibraltar copper-molybdenum mine in south-central British Columbia. Mr. Mundie is also a director of Mundoro Capital, and Far West Mining.

	Christian G. Pilon Director and President of Minera Panoro (Peru) S.A.C. Panoro Apurimac S.A. Resident in Lima, Peru, Mr. Pilon has over 30 years of experience in applied geophysics in mining, civil engineering, environmental and water resource projects. He is currently president of Geoinstruments S.A., a Peruvian company dedicated to the sales and rental of engineering instrumentation and to specialized geophysical surveys and consulting.

	Jaime Quijandria Salmón Director Mr. Quijandria currently is a Partner in Laub & Quijandría Consultants and Lawyers, an Advising Director of Haug S.A. and ABB Peru S.A., as well as Director of Neptunia S.A. He served as an Executive Director of InterAmerican Development Bank from 2006 to 2008 and an Executive Director of World Bank from 2004 to 2006 as well as the Minister of Energy and Mines and Minister of Economy and Finance of Peru from 2001 to 2004. He previously served as President of Petróleos del Peru and YPF del Peru. Mr. Quijandría is an economist with numerous publications in the areas of energy, development, public policy and the commodities business. Mr. Quijandría joined the Board of Directors of Panoro Minerals in 2011.

	Luquman A. Shaheen, M.B.A., P.Eng., P.E. President, CEO and Director Mr. Shaheen has an undergraduate degree in Civil Engineering and a Masters degree in Business Administration. He has over 20 years experience in the international mining sector with over 15 years dedicated to the development of mineral projects in Peru and Latin America. Mr. Shaheen resided in Peru from 1996 until 2001, is fluent in Spanish and English, very knowledgeable of the Peruvian mining sector and the social, environmental and business issues of this important mineral producing nation.

	Christiaan F. Staargaard, M.Sc., P.Geo. Director Mr. Staargaard is a Professional Geologist with over 25 years of worldwide experience in mineral exploration. He has worked as a consulting geologist in Canada, the United States, eight Latin American countries, the United Kingdom, Sweden, Iran, the Philippines, Indonesia, Ethiopia, Ghana, Burkina Faso and China. Since May 2002, he also has been President and CEO of Lithic Resources Ltd., a company listed on the TSX Venture Exchange.

	Lorne Torhjelm Director Mr. Torjhelm is currently the president and sole shareholder of R.N.J Ventures Inc., a private real estate and financial investment company. Since 1995, Mr. Torjhelm has worked for numerous public companies, and has particular experience with those in the oil and gas sector. He has served variously as president, CFO, director and secretary.