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      Panoro Starts First of Four Drill Programs 
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 Vancouver, B.C. and Lima, Peru, January 21st, 2008. Panoro Minerals 
 Ltd. (the Company) is pleased to announce that it has started the first 
 of four drill programs planned for 2008. The four projects to be 
 drilled are El Rosal, Antilla, Cotabambas and Kusiorcco. 
 
 The contractor has arrived at the first project to be drilled, the El 
 Rosal Project in Northern Peru, where all necessary permitting steps 
 have been completed and a Water Use Permit has been obtained. Starting 
 this drill program also ensures the availability of an additional drill 
 rig earmarked to become a second drill rig for one of the other 
 projects (most likely Antilla) in the Company's program for 2008. 
 
 The El Rosal project in Lambayeque and Cajamarca Departments, 
 north-western Peru, is a porphyry Cu-Au prospect with related Cu-Zn-Ag 
 and Cu-Au skarn mineralization. The Company has acquired a one hundred 
 percent clear interest in the property. It consists of eleven mineral 
 concessions that encompass an area of fifty-seven square kilometres. 
 The property is seventy-five kilometres east of the major city of 
 Chiclayo. 
 
 The El Rosal -Project is characterized by two principal targets with 
 associated large tonnage potential, the El Rosal and La Ramada Targets. 
 The mineralized systems identified by Panoro's work represent a new 
 discovery of this type of system in this area of northern Peru. 
 
 The El Rosal Target, with an overall footprint of 2 kilometres by 2.5 
 kilometres for the system, contains copper -zinc -silver mineralization 
 of a type called "skarn" mineralization and, significant for its 
 tonnage potential, porphyry style alteration/mineralization, as well as 
 polymetallic veins. Geological mapping, trenching and sampling, 
 detailed ground geophysical surveys and two prior drill campaigns (in 
 2000 and 2004) have focused the attention on a deep target of intrusive 
 rock below a 50 -200m zone of thermal alteration and silicification 
 with increasing rock geochemical values of zinc and copper. 
 
 The La Ramada Target is represented by a structurally more complex 
 system with an overall footprint of 2.5 kilometres by 1 kilometer. The 
 copper-skarn occurrences of the La Ramada system contain a gold 
 component of 0.5 to 1.0 grams gold per tonne associated with copper 
 values of 0.5 to 1.0% copper. A diatreme breccia zone of a type often 
 associated with the lateral flanks of porphyry systems contains 
 fragments of skarn and porphyry style mineralization observed in prior 
 drill holes and surface trenches. The system is also characterized and 
 defined by prior geophysical surveys, soil geochemical signatures and 
 geological and assay information from drill holes of the 2004 program. 
 
 The Company intends this 2,500 metres drill program to be a decisive 
 test of the two targets on this project. 
 
 Of the other projects scheduled for drill programs in 2008, the Antilla 
 project is the most advanced in the permitting process, with the 
 Community Agreement, the Water Use Permit and the acceptance of the 
 Environmental Impact Study in hand. The final Class C permit from the 
 Ministry of Mines is expected in time to allow commencement of the 
 second drill program in the first quarter of this year. 
 
 Efforts to obtain the agreements with the affected rural communities in 
 the areas of the Cotabambas and Kusiorcco project are under way. The 
 Environmental Impact Study for the Cotabambas Project, where a Class-C 
 Permit will also be required, has been completed for some time. 
 
 With $7 million in the treasury the Company is well funded to embark on 
 this and the other drilling programs planned for 2008. 
 
 On behalf of the Board of 
 Panoro Minerals Ltd. 
 Helmut H. Wober, P. Eng., President 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, or send an 
 e-mail to 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. The TSX Venture Exchange has not 
 reviewed and does not accept responsibility for the adequacy or 
 accuracy of this news release. 
 
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 Copyright (c) 2008 PANORO MINERALS LTD. (PML)  All rights reserved. 
 For more information visit our website at http://www.panoro.com/ or 
 send mailto:info@panoro.com 
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