South Pit drilling intersects mineralization at Cotabambas, Peru

Vancouver, British Columbia--(Newsfile Corp. - September 6, 2026) - Panoro Minerals Ltd. (TSXV: PML) (BVL: PML) (FSE: PZM) (OTCQB: POROF ) (" Panoro " or the " Company ") is pleased to announce assay results from drillholes CB-229 and CB-230 at the Cotabambas Project, Peru. The exploration program is advancing two parallel objectives;

Objective 1 : To define the limits and orientation of high-grade copper-gold porphyry mineralization within the North and South resource areas; and

Objective 2 : Unravel the broader geologic potential over the 165 km 2 Cotabambas project.

Drill holes CB-229 and CB-230 were designed to test the limits of copper-gold porphyry mineralization to the southeast and below the high-grade South pit resource area.

"To our surprise, it is becoming clear that the contribution of the South Pit to the total Cotabambas resource, and its high-grade component, is set to grow significantly. The results from CB-229 and CB-230, plus from CB-228 previously, highlight the continuity from surface to over 1100 m depth and along 600 m of strike. The objective of the step-out program is to find the limits of the high-grade at the South Pit, which currently contains only 70 million tonnes of the high-grade component of Cotabambas' resource. These drillholes have not found the limits of the mineralization. The step out drill program is continuing with additional drillholes 200 m to the south and north sides of the South Pit and will include infill holes to delineate the high-grade component within the South Pit," states Luquman Shaheen, President & CEO.

The location of the drillholes is shown in Figure 1 . The principal intersections are summarized in Table 1 below and in the cross-sections in Figures 2 & 3.

Drillhole CB-229 is defining the limits of the Principal Porphyry (QMP1) and the high-grade to the southeast of the south pit while leaving open the high-gr