News Releases

 June 16, 2005
Panoro Elects Board of Six Directors, Plans Financing for Drill Program at Surigao JV
 VANCOUVER, BC; June 16, 2005 -- Panoro Minerals Ltd. (the "Company") advises that at its Annual General Meeting held on June 14, a six member Board of Directors has been elected. The Company is very pleased to have the following Directors continue serving: William J. Boden, C. Allen Born, Christian G. Pilon, Christiaan F. Staargaard, Lorne Torhjelm and Helmut H. Wober.

During the past year the technical component of the board has been strengthened with the addition of Chris Staargaard, while the board retains its diversity with the financial and business expertise of William Boden and Lorne Torhjelm. Continuing as Chairman is Allen Born, who brings decades of experience at the helm of some of the largest resource companies of North America.

The Directors will now actively pursue a significant interim financing of $600,000 to $900,000 to commence drilling the highly attractive and promising copper -- gold porphyry targets at its Surigao Option and Joint Venture. (See also News Release of April 29, 2005).

The Surigao district is an emerging copper gold porphyry district featuring the discovery of the Boyongan deposit (300 million tones, 0.6% copper, 1 gram gold per tonne) of Philex Gold and Anglo American, the Bayugo porphyry deposit (Manila Mining), the active copper gold porphyry projects of Masgad (Korean Resources Corporation) adjoining the Tapian San Francisco block of the Company's Joint Venture to the north west and the Madja porphyry system (Red 5 -- Anglo Ashanti Gold) adjoining the Joint Venture's Tapian Extension Block to the north east. For a district ownership map see Panoro's web site and click on:
http://www.panoro.com/s/MapsAndPhotos_Surigao.asp?ReportID=94197&_Title=Surigao-Gold-Copper-Gold-Projects-with-Faults

ABOUT PANORO
Panoro Minerals Ltd. is a Canadian mineral exploration company listed on the TSX Venture Exchange (TSX-V: PML) and on the Frankfurt Stock Exchange (PZM). Panoro's strategic focus is on exploring for large-potential gold and copper/gold deposits in countries with the corresponding geological potential and where the right political and economic conditions are present.

For further information or investor inquiries please call 604-684 4246, or
e-mail info@panoro.com or visit the company's website at www.panoro.com

On behalf of the board of
Panoro Minerals Ltd.

Helmut H. Wober, P.Eng.,
President and Director
 
 

You can view the Next News Releases item: Thu Jul 28, 2005, Panoro Minerals Announces Private Placement Financing

You can view the Previous News Releases item: Wed May 25, 2005, Panoro accepts resignation of Director

You can return to the main News Releases page, or press the Back button on your browser.