Panoro Minerals Ltd. highlighted intersection results, SOUTH PIT: Drillhole CB-215 delineated the porphyry stock across two intervals of 72 m and 104 m, intruding the diorite host rock and generating a new high-grade zone extension to the south end of the South Pit. This hole intersected high grade mineralization to over 100 m below the previously published CB- 202 and intersected 325.3 m of primary copper mineralization averaging 0.24% Cu, 0.28 g/t Au, 1.86 g/t Ag (0.48% Cueq), including 114.0 m grading 0.44% Cu, 0.60 g/t Au, 2.62 g/t Ag (0.95% Cueq). This hole intersected the high grade zone outside the limits of the PEA pit and extending below the MR pit shell, representing a potential increase of mineral resources in the southern extreme of the South pit.

The section shows the high grades extending at depth where the potential to perform another step-out drillhole to the east of CB-215 has the potential to further delineate mineralization and potentially further expand the MR. The porphyry stock is following a structural control to the southwest and hidden below the andesite package. NORTH PEA PIT: Drillhole CB-214 is an infill drill hole intersecting 240 m of the porphyry stock intruded into the diorite host rock, and emplacing 408.7 m of primary copper sulfide averaging 0.47% Cu, 0.29 g/t Au, 4.46 g/t Ag (0.74% Cueq). The mineralization includes four intervals of the porphyry, of which including 117.7 m intersection averaging 1.21% Cu, 0.82 g/t Au, 11.36 g/t Ag (1.98%Cu eq) located in the southern portion of the North pit.

The high grade is related to the quartz stockwork occurring almost exclusively into the porphyry stock, accompanied by a mineralogy of chalcopyrite, minor pyrite and an alteration assembly composed by orthoclase, magnetite, chlorite and sericite. CB-214 replaced the previous drillhole CB-205 which was stopped due to water flow from the borehole. Drillhole CB-213 is an infill drill hole targeting mineralization 100 m below CB-73.

The results delineated two intervals of primary copper sulfide of 155.4 m length averaging 0.62% Cu, 0.34 g/t Au, 4.43 g/t Ag (0.93% Cueq) hosted in the diorite intrusive and 107.1 m length grading 0.87% Cu, 0.77 g/t Au, 4.24 g/t Ag (1.53% Cueq) hosted in the porphyry stock. The intervals are separated by an interval of 43 m length of barren latite dike. This hole is in the north extreme of the North pit and leaves open the potential for mineralization to the Northeast direction.

The figure shows the potential for CB-213 to increase the volume of the high grade in this part of the North pit. Drillhole CB-216 targeted mineralization located 100 m below CB-43 in the north extreme of the North pit where the hole intersected 184.2 m of copper mineralization grading 0.43% Cu, 0.17 g/t Au, 2.68 g/t Ag (0.59 % Cueq), including supergene mineralization of 46.0 m of gold oxide mineralization averaging 0.39 g/t Au, 4.77 g/t Ag and 0.05% Cu and, underlain by 75.9 m of a secondary copper sulfides grading 0.80% Cu, 0.13 g/t Au, 2.48 g/t Ag (0.93% Cueq), and overlaying an interval of 62.3 m of hypogene copper mineralization averaging 0.24% Cu, 0.07 g/t Ag, and 1.38 g/t Ag (0.31% Cueq). The mineralization is in the porphyry and the diorite of the footwall.

Drillhole CB-212 is an infill hole also located to the north side of the North Pit and was terminated at 74m due to water flows from the borehole. The drillhole intersected 74.0 m averaging 0.78% Cu, 0.33 g/t Au, 2.80 g/t Ag (1.07% Cueq), including 35.1 m of mixed copper mineralization grading 1.14% Cu, 0.33 g/t Au, 2.58 g/t Ag (1.43% Cueq) underlain by 38.9 m of hypogene copper mineralization averaging 0.46% Cu, 0.33 g/t Au, 3.00 g/t Ag (0.75% Cueq). This hole targeted the continuity of the high-grade zone of the porphyry stock intersected at depth by previous holes CB-75 and CB-11.

The target zone will be redrilled from an adjacent location at a suitable angle . Drillhole CB-209 is located near the southern extreme of the North pit and started as an infill inside the PEA pit but also explored the high grades intersected previously at depth by the hole CB-140. CB-209 crossed a total of 644 m averaging 0.25% Cueq identifying 133 m of a porphyry stock at depth, near and below the west side limit of the MR pit shell.

Prior to intersecting the porphyry this hole intersected five intervals of hypogene copper mineralization, varying from 21.2 m to 136.9 m in length with grades from 0.20% Cueq to 0.67% Cueq. The potassic alteration conformed by orthoclase, magnetite, secondary biotite is centered by the porphyry stock and overprinted by the SCC alteration (sericite, chlorite, clay) related to grades above 0.2% Cu and 0.10 g/t Au in the top of the hole. The new high grade intersected at depth may represent a potential for resources increase in the incoming estimation.

Drillhole CB-211, located near the surface in the southwest extreme of the North pit, between 100 m to 150 m above the drillhole CB-209. This hole intersected a copper anomaly of primary sulfides along 38.0 m length and averaging 0.14% Cueq. This hole permit to constrain the copper mineralization to the south-east side of the North pit.

The Company's priority is continuing with the step out drilling program in the South Pit, to incorporate new high grade mineral resources and upgrading to indicated categories. In parallel, the re-logging of drillholes and geologic modelling updates are progressing in core shack in Cusco. The drilling campaign started in April 28/2022 and to date has accumulated approximately 10,000 m of the plan of 16,970 m.