Panoro Minerals Ltd. announced the filing of the NI-43-101 Technical Report for the updated Mineral Resource Statement for the 100% owned Cotabambas Project in Peru. The results of the mineral resource estimate were announced on the January 15, 2024 press release. The technical report was authored by AGP Mining Consultants Inc. The updated mineral resources at 0.15% CuEq cutoff grade include: An Indicated mineral resource of 507.3 million tonnes at 0.34%Cu, 0.20 g/t Au, 2.42 g/t Ag and 0.0021%Mo, and 0.43%CuEq grade.

An Inferred mineral resource of 496.0 million tonnes at 0.27% Cu, 0.17 g/t Au, 2.,53 g/t Ag and 0.,0027%Mo, and 0.36% CuEq grade. A higher grade component within the optimized pit constraint, demonstrating the potential for a high grade starter pit for the project start up. Highlights.

A Higher Grade Component of Indicated resource delineated: 129.0 million tonnes at 0.,70% Cu, 0.44 g/t Au, 4.12 g/t Ag and 0.'14%Mo, and 0.91% CuEq grade, at a cut-off of 0.5% CuEq;. Examples of forward-looking information and statements with respect to: Panoro delineating growth potential at the Cotabambas Project, while optimizing project economics. mineral resource estimates and assumptions; and.

the PEAs, including, but not limited to, base case parameters and assumptions, forecasts of net present value, internal rate of return and payback. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. In some instances, material assumptions and factors are presented or discussed in this news release in connection with the statements or disclosure containing the forward-looking information and statements.

The factors and assumptions include, but are not limited to, assumptions concerning: metal prices and by-product credits; cut-off grades; short and long term power prices; processing recovery rates; mine plans and production scheduling; process and infrastructure design and implementation; accuracy of the estimation of operating and capital costs; applicable tax and royalty rates; open-pit design; accuracy of mineral reserve and resource estimates and reserve and resource modeling; reliability of sampling and assay data; representativeness of mineralization; accuracy of metallurgical test work; and amenability of upgrading and blending mineralization.