News Releases

 June 24, 2003
Extensive Work Program Is Underway At The El Rosal Gold-Copper Project
 Vancouver, B.C., June 24, 2003 - Panoro Minerals Ltd. is pleased to announce that an extensive work program has commenced at its El Rosal Project in Peru. The El Rosal Project is a 100% owned, 57 square kilometer gold-copper project located in northern Peru. To date, approximately $1.2 million has been spent on exploration.

Crews are now on the property conducting stream sediment and geochemical sampling and are preparing and cutting lines for a geophysical program. This will be immediately followed by the geophysical program that will include an induced polarization survey and magnetometer survey on the new "La Ramada" target. Previous work on the La Ramada target suggests the presence of a second potential porphyry system having a footprint area of approximately 1.8 km x 2.8 km, with an overprint of gold mineralization.

Together with similar programs already carried out on the "El Rosal" target, it is expected that drill sites will be developed and readied for a drill program to take place on both targets within the next two months. The work underway is part of the program recommended by Panoro's consultant, David Rhys, P.Geo., in his Qualifying Report.

In addition, Panoro has commenced evaluating further acquisition targets in Peru with a crew led by a Canadian Professional Geologist in the field at this time.

About Panoro

Panoro Minerals Ltd. is a mining exploration company headquartered in Vancouver, Canada and traded on the TSX Venture Exchange. Panoro's strategic focus is on exploring for large-potential gold and gold/copper projects in countries where the right political and economic conditions are present.

For investor inquiries please call 604-629-0903 or email info@panoro.com or visit the company's website at www.panoro.com

On behalf of the board of
Panoro Minerals Ltd.


"Helmut H. Wöber"
President, Director





The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
 
 

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