Panoro Minerals Ltd. (TSX VENTURE:PML)(BVL:PML)(FRANKFURT:PZM)(WKN:914959) ("the
Company") is pleased to announce that it has completed its 2008 exploration
program at the Antilla Project, Peru with the successful confirmation by infill
drilling of the East Block target mineralization, the extension of this zone to
the northwest and the identification of an underlying oxide zone in that area
with a 48m intersection averaging 1.08% Cu and 0.020% Mo.


The table below presents a summary of the latest results from the drilling program.



-------------------------------------------
          From   To  Thickness    Cu     Mo
Drillhole   (m)  (m)        (m)   (%)    (%)
-------------------------------------------
ANT-64      44   92         48  1.08  0.020
-------------------------------------------
 and       286  308         22  0.45  0.012
-------------------------------------------
ANT-65      46   90         44  0.51  0.009
-------------------------------------------
ANT-66      10   36         26  0.57  0.035
-------------------------------------------



ANT 63 and Ant-67 intersected mineralization below the nominal project cut-off
value of 0.30%. Both ANT-65 and 66 were collared within the East Block Target
Area and confirm the presence of supergene mineralization in these areas.


ANT-64 is located 200m outside of the East Block Target Area mineralized zone.
It intersected 48m of oxide copper mineralization between 44-92m with an average
grade of 1.08% Cu and 0.02% Mo. Below that, it intersected 22m of supergene
chalcocite copper mineralization averaging 0.45% Cu and 0.012% Mo between
286-308m. These results confirm that the supergene enrichment extends farther to
the Northwest and the presence of copper oxide mineralization in this area.
Overall, it shows the potential of expanding the resource in this direction.


Panoro has contracted AMEC, an internationally recognized consulting firm with
an office in Lima, Peru to begin the studies required to complete a National
Instrument 43-101 compliant resource estimate for the Antilla Project.


All drilling was carried out by Bradley MDH S.A. and all assay samples are being
tested by ALS-Chemex laboratory in Lima, Peru. Fred Tejada, P.Geo., is the
Company's VP-Exploration and the Qualified Person for this project.


On other fronts;

- Minera IRL S.A. and Panoro's subsidiary, Panoro Apurimac S.A., have converted
the residual interest held by the company in the Chapi Chapi project into an
immediate 4% participation in the Huaquirca joint venture which will be
increased to 10% in case of a scoping study showing mineral resource equal or
superior to 3 million ounces of gold and/or 1 million tonnes of fine copper for
the joint venture properties. The Huaquirca joint venture has been formed by
Alturas Minerals (80%), MIRL (16%) and Panoro Apurimac (4%) to explore and
develop the Chapi-Chapi and the Utupara properties;


- Panoro signed a 4 year agreement for its Anyo Project with the Patan community
and the association of small miners from the same community by which Panoro is
authorized to explore on the community lands;


- The general assembly for the Community of Uchucarcco, at the company's
Kusiorcco Project, voted in favor of negotiating with Panoro for the completion
of a community agreement which would allow Panoro to carry out exploration
activities on community owned lands.


The Company recognizes that the current conditions in the financial and
commodity markets present challenges to the mineral exploration sector. It has
instituted a number of austerity measures to ensure that it is able to weather
the current conditions while still advancing its projects and building
shareholder value.


Austerity measures include reduction of capital spending, reduction in staffing
levels in its Lima office and salary reductions at its head office in Vancouver.
The company is committed to focusing its cash reserves over the next 18 months
to achieve its principal objectives of:


1. Completing the NI-43-101 resource estimate for the Antilla Project; and

2. Advancing community relations and environmental activities in order to obtain
drilling permits at its Cotabambas and Kusiorcco Projects.


The company will then be well positioned to efficiently deploy new capital when
it is available to continue the advancement of its projects along the road to
development.


On behalf of the Board of Panoro Minerals Ltd.

Luquman Shaheen, M.B.A., P.Eng., P.E., President, CEO and Director

ABOUT PANORO

Panoro Minerals Ltd. is a Canadian mineral exploration company trading on the
TSX Venture Exchange (PML) and on the Frankfurt Stock Exchange (PZM, WKN 914959)
and on the Junior Board of the Lima Exchange. 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 investor inquiries please call
604-684-4246, e-mail info@panoro.com or visit the company's website at
www.panoro.com.


This release was prepared by management of the Company who takes full
responsibility for its contents.
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