Panoro Minerals Ltd.: Results From Antilla Joint Venture Project in Peru Highlighted by 39.8 m at 0.85% Cu and 0.028% Mo

Panoro Minerals Ltd. (TSX VENTURE:PML)(BVLAC:PML)(FRANKFURT:PZM) ("Panoro") is
pleased to announce the assay results from the second batch of four drillholes
from the 2010 infill drilling program at the East Block at the Antilla Copper
Molybdenum Project in Peru. The results were provided by Panoro's JV partner,
Chancadora Centauro SAC (Centauro), the operator of the project. As with the
results made public earlier, the assays received are consistent with
expectations and continue to confirm the Company's resource model. 




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Drillhole                    From (m)  To (m)  Thickness (m)  Cu (%)  Mo (%)
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ANT-73                          10.2    50.0           39.8    0.84   0.028
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                                60.0    78.0           18.0    0.26   0.029
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ANT-74                          11.6    70.0           58.4    0.69   0.013
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includes                        14.0    32.0           18.0    0.95   0.008
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                                52.0    64.0           12.0    1.11   0.016
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                                                                       less
                                                                       than
ANT-75                          28.0    34.0            6.0    0.31   0.001
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                                70.0    82.0           12.0    0.29   0.003
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ANT-76                           8.5    82.0           73.5    0.46   0.005
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includes                        10.0    29.7           19.7    0.76   0.002
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                                90.0   117.2           27.2    0.34   0.011
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includes                       112.0   117.2            5.2    0.72   0.013
---------------------------------------------------------------------------



Of the total of 19 holes drilled, 17 holes have been sampled and analyzed. The
locations of all the holes drilled are shown in Figure 1 on the Antilla page of
the Company's website. The results from the first four holes, ANT-68, 70, 71 and
72 were announced on July 23, 2010. The Company has also received the
preliminary results of the remaining holes, ANT-77 to ANT-84, and is currently
reviewing them. The results will be made public as soon as the review has been
completed.


All drillholes are located within the limits of the high grade pit defined in
the NI 43-101 inferred resource estimate. ANT-73 is located outside the
previously identified core zone of the mineralization defined as the zone with
grades greater than or equal to 0.70% copper. This indicates that the core zone
may extend further to the southwest in this area. ANT-74 is located within the
core zone confirming continuity. ANT-75 and ANT-76 are located at or outside the
southeast limit of the core zone, consistent with the existing resource model. A
map, Figure 7, showing the outline of the 0.7% copper or core zone and
drillholes can also be viewed on the Antilla page of the Company's website.


The Antilla JV agreement with Centauro was signed in April 2010 and based on
that agreement Centauro was due to make a payment to Panoro of $US 4 million on
July 16, 2010. As of the filing of this press release, that payment has not been
received and Panoro is working to resolve the matter as quickly as possible.


About the Antilla Project

The Antilla Project NI 43-101 resource includes a high grade zone of 70 million
tonnes at 0.56% copper and 0.011% molybdenum. The resource is contained within
the East Block where mineralization consists of a tabular blanket of supergene
sulphide mineralization dominated by chalcocite and molybdenite. The East Block
mineralization is open to the north and northeast and similar mineralization has
been identified in the West Block but is yet to be drilled. Infill drilling of
the high grade zone has the potential to increase its grade.


About Panoro

Panoro's strategic focus is to move its advanced stage copper and copper/gold
projects to feasibility and development and to explore its other projects.
Panoro has a large portfolio of exploration projects in Peru, of which the
Cotabambas and Antilla Projects contain NI 43-101 Inferred level resources of:




Cotabambas Project 114 million tonnes at 0.68% copper and 0.38 g/t gold

Antilla Project    154 million tonnes at 0.47% copper and 0.009% molybdenum.



The 9,900 hectare Cotabambas Project contains the Ccalla and Azulccacca
porphyry-copper gold deposits which are separated by approximately 900 metres.
Mineralization in both deposits is open to depth and laterally as well as in the
area between them. Panoro is planning magnetometric and induced polarization
geophysical surveys to confirm targets before commencing exploration drilling. 


The Company is also planning geophysical surveys followed by Phase 1 exploration
drilling targeting skarn and porphyry copper mineralization at its 100% owned
Kusiorcco Copper Project elsewhere in the region.


Drilling at the Antilla project is being carried out by Centauro and all samples
were assayed by ACME Analytical Laboratories (Chile) S.A. The information
provided by Centauro and contents of this news release were reviewed by Fred
Tejada, P.Geo., the Company's VP-Exploration, a Qualified Person as defined in
NI43-101. 


On behalf of the Board of Panoro Minerals Ltd.

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

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