Panoro Minerals Ltd

Panoro Announces Funded 2026 Drilling Program for Cotabambas Project

panoro.com/site/assets/files/4370/...lling-program-update.pdf

Panoro Minerals Defines High-Grade Strategy for Cotabambas Project
March 16, 2026

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The Company’s President & CEO, Luquman Shaheen, commented: “The mobilization and start of drilling at the South Pit is yet another key milestone for Panoro in 2026. This program is focused on expanding and upgrading the project’s high-grade copper, gold and silver mineralization, which we believe underpins a unique and capital efficient development pathway for Cotabambas. The South Pit hosts multiple, wide, high-grade intercepts with excellent continuity, and this phase of drilling is designed to build on that success while advancing our High-Grade Strategy.”

The program, designed to expand and upgrade the high-grade component of the project resource, has commenced at the South Pit with the start of 5,000 meters of step-out drilling. Drilling in this area will test the growth of the high-grade resource both along strike and at depth, expanding the high-grade zone beyond current resource pit limits. The South Pit hosts a well-defined high-grade mineralized zone supported by multiple wide, previously reported high-grade drill intercepts. The following intersections were identified in previous drilling.
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In connection with the Offering, the Company will pay the Agents a cash commission of 6.0% of the gross proceeds of the Offering (the “Cash Fee”) on the closing of the Offering. In addition to the cash fee payable to the Agents, the Company shall issue to the Agents, on the closing of the Offering, compensation options (the “Compensation Options”) equal to 6.0% of the aggregate number of Common Shares sold under the Offering. The Compensation Options will entitle the Agents to purchase Common Shares at a price of $1.00 per Common Share, which may be exercised at any time and from time to time, for a period of 12 months following the closing of the Offering.

The net proceeds from the Offering will be used for exploration and development at the Cotabambas Copper-Gold-Silver Project in Peru (the “Cotabambas Project”) and for general corporate and working capital purposes.

Closing of the Offering is expected to occur on or about May 13, 2026, or such other date as the Agents and the Company may agree (the “Closing Date”). Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the “TSXV”).

Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the Common Shares will be offered for sale to purchasers in each of the provinces of Canada, except Québec, pursuant to the Listed Issuer Financing Exemption. Subject to certain exceptions, the Common Shares are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. The Common Shares may also be sold in offshore jurisdictions.

There is an offering document (the “Offering Document”) related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at: www.panoro.com. Prospective investors should read this Offering Document before making an investment decision.

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Closing of the Offering is expected to occur on or about May 13, 2026, or such other date as the Agents and the Company may agree (the “Closing Date”). Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the “TSXV”).

Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the Common Shares will be offered for sale to purchasers in each of the provinces of Canada, except Québec, pursuant to the Listed Issuer Financing Exemption. Subject to certain exceptions, the Common Shares are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. The Common Shares may also be sold in offshore jurisdictions.

There is an amended and restated offering document (the “Offering Document”) related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at: www.panoro.com. Prospective investors should read this Offering Document before making an investment decision.
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In accordance with National Instrument 45-106 - Prospectus Exemptions (“NI 45-106”), the Shares were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “Listed Issuer Financing Exemption”). The Shares were also offered for sale on a private placement basis pursuant to available exemptions from the registration requirements under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and applicable U.S. state securities laws, and in other offshore jurisdictions provided that no prospectus filing or comparable obligation arose. The Shares are not subject to a statutory hold period under applicable Canadian securities legislation, subject to compliance with the policies of the TSX Venture Exchange (the “TSXV”) with respect to issuances of Shares to insiders of the Company.

As consideration for their services in the Offering, the Agents received a cash commission of approximately $1,260,000, such amount being equal to 6.0% of the gross proceeds from the sale of the Shares under the Offering and 1,326,315 non-transferable compensation options (the “Compensation Options”), such amount being equal to 6.0% of the number of Shares sold under the Offering. Each Compensation Option is exercisable into one Share at a price of C$1.00 per Share at any time on or before May 13, 2027.

There is an amended and restated offering document dated May 4, 2026 (the “Offering Document”) related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at: www.panoro.com.

The Offering remains subject to the final approval of the TSXV.

Certain directors or officers of the Company participated in the Offering for gross proceeds of approximately $271,000. Participation by these directors or officers in the Offering constitutes a related party transaction as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The issuance of the Common Shares to certain directors and officers of the Company under the Offering is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to subsection 5.5(b) of MI 61-101 as the Common Shares are listed on the TSXV. The issuance of Common Shares to certain directors and officers of the Company under the Offering is also exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to subsection 5.7(1)(b) of MI 61-101 as the fair market value of the securities issued to such directors and officers of the Company was less than $2,500,000.

The securities offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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Panoro Minerals Intersects 317.6 m of 1.04% CuEq at Cotabambas Project, Peru

June 8, 2026

High Grade Extends from Surface to over 850 m depth with recent results;

   317.6 m at 1.04% CuEq1, including
   162.0 m at 1.54% CuEq1
   66.1 m at 1.92% CuEq1

Vancouver, British Columbia--(Newsfile Corp. – June 8, 2026) - Panoro Minerals Ltd. (TSXV: PML) (BVL: PML) (FSE: PZM) (OTCQB: POROF) (“Panoro” or the “Company”) is pleased to announce assay results from drillhole CB-228, the first hole from its Phase 1 expansion drilling program at the South Pit of the Company’s Cotabambas Project in the Apurimac Region of Peru. The principal intersections are shown in Table 1 below and the cross section in Figure 1, the drillhole location is shown in Figure 2.

The Company will host a conference call on Tuesday, June 9, 2026 at 9:00am ET/6:00am PT to discuss the results. Call details below.

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With the approval now in place, Panoro will proceed with an extensive technical program designed to expand and refine the high-grade exploration targets within the boundary limits of the Guaclle Community. The planned exploration activities include:

· A wide program of surficial geophysics, including induced polarization (IP), magnetics and gravity surveys,

· Detailed topographic surveys and mapping,

· Geological and structural field investigations,

· Geochemical and litho-geochemical programs to identify and prioritize new high-grade targets; and

· Integration of Geophysical, geological and geochemical datasets to support drill targeting.

The above noted work program is expected to significantly enhance the Company´s understanding of the district scale mineral potential at the project and identify additional opportunities to expand known mineralized zones.  This work will be carried out in parallel with the already commenced drilling program at the South Pit (Target #2).

Luquman Shaheen, President & CEO, states:  "The completion of the agreement with the Community of Guaclle is further demonstration of the Company’s Social License at the Cotabambas Project.  This is the tenth community agreement completed by the Company at the Cotabambas Project, demonstrating the close, cooperative and long-term relationships built by Panoro’s community relations team.  Panoro’s leadership team has been working together with members of the local communities for over 15 years resulting in the 10 community agreements completed to date.  We look forward to expanding the existing agreements and completing additional agreements as we grow the scope of our exploration in 2026 and move the project along to development.”
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Bin hier schon seit 2005 geduldig investiert.

Additionally, further to the Company’s news release dated January 20, 2026, pursuant to the option agreement dated March 4, 2024, as amended, the Company and TABB Partners LLC (“TABB”) are proceeding with the registration of TABB’s option exercise of 50% of the Company’s outstanding 2% net smelter returns royalty interest on mineral production (the “2% NSR”) with the Peruvian Public Registry.  Once the registration of TABB’s option exercise is complete, TABB will pay US$2.0 million (C$2.8 million) to the Company.  The registration is expected to be completed by the end of July. TABB retains the sole and exclusive right to acquire the remaining interest in the 2% NSR (that is, the remaining 1% of the 2% NSR) on or before January 19, 2027.
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July 7, 2026

Vancouver, British Columbia--(Newsfile Corp. – July 7, 2026) - Panoro Minerals Ltd. (TSXV: PML) (BVL: PML) (FSE: PZM) (OTCQB: POROF) (“Panoro” or the “Company”) announces that it has granted an aggregate of 4,825,000 stock options (the "Options") to directors, officers and employees of the Company to purchase 4,825,000 common shares (the "Shares") in the capital of the Company pursuant to the Company's share option plan. The Options are exercisable at a price of CAD $1.70 per Share for a period of five (5) years from the date of grant.

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