|December 27, 2016|
Panoro Minerals Appoints Mr. Ronald Ashley Hall to the Board of Directors
|Vancouver, B.C., December 27, 2016 - Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) ("Panoro", the "Company") is pleased to announce the appointment of Mr. Ronald A. Hall to the Board of Directors of the Company. Mr. Hall holds a BSc. in Metallurgy from Cardiff University in the UK and has over 40 years' experience in the management, operation, evaluation and design of mining projects globally. Over his career he has worked and lived in the UK, South Africa, Botswana, Canada, Australia, China and elsewhere where he has advanced mining projects from early stages through feasibility and into development and operation. From 2004 to 2011, Mr. Hall lead the growth of Wardrop Engineering's mining business in Vancouver, B.C. and internationally, including the establishment of offices in the UK, China, Chile, Brazil, Hong Kong and Australia, prior to the acquisition of Wardrop by TetraTech Inc.|
Mr. Hall is currently an independent director of Chinalco Mining Corporation International (CMCI), a publicly listed company on the Hong Kong stock exchange, which operates the Toromocho Copper project in Peru.
The Company has granted options to purchase 600,000 shares exercisable at a price of $0.20 per share to Mr. Hall pursuant to the Company's stock option plan.
"We are delighted that Ron has joined our Board. His broad and relevant experience will be of great benefit as we move forward in the development and increased valuation of our flagship projects," stated William Boden, Chairman of the Company.
Panoro Minerals is a uniquely positioned Peru focused copper exploration and development company. The Company is advancing a significant project portfolio in the strategic Andahuaylas-Yauri belt in south central Peru, including its advanced stage Cotabambas Copper-Gold-Silver-Molybdenum and Antilla Copper-Molybdenum Projects. The Company is well financed to expand, enhance and advance its projects in the region where infrastructure such as railway, roads, ports, water supply, power generation and transmission are readily available and expanding quickly. The region boasts the recent investment of over $US 15 billion into the construction or expansion of four large open pit copper mines.
Since 2007, the Company has completed over 70,000 m of exploration drilling at these two key projects leading to substantial increases in the mineral resource base for each, as summarized in the table below.
Summary of Cotabambas and Antilla Project Resources
Preliminary Economic Assessments (PEA) have been completed for both the Cotabambas and Antilla Projects, the key results are summarized below.
Summary of Cotabambas and Antilla Project PEA Results
The PEAs are considered preliminary in nature and include Inferred Mineral Resources that are considered too speculative to have the economic considerations applied that would enable classification as Mineral Reserves. There is no certainty that the conclusions within the updated PEA will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
Luis Vela, a Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
On behalf of the Board of Panoro Minerals Ltd.
William Boden, CPA, CA
Chairman of the Board of Directors
FOR FURTHER INFORMATION, CONTACT:
Panoro Minerals Ltd.
William Boden, Chairman of the Board
Phone: 604.684.4246 Fax: 604.684.4200
Renmark Financial Communications Inc.
Tel.: (514) 939-3989 or (416) 644-2020
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Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements, including, without limitation:
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