VANCOUVER, May 6 /CNW Telbec/ - Panoro Minerals Ltd. (TSXV: PML) (Lima:
PML) (Frankfurt: PZM) is pleased to announce the appointment of Renmark
Financial Communications Inc. of Montreal, Quebec (www.renmarkfinancial.com), to handle its investor relations activities.
Renmark will receive a monthly fee of $7,000 for a 12-month term
commencing June 1, 2011. Panoro has the right to terminate the
agreement at any time after November 30, 2011 upon 30 days notice to
Renmark. Panoro's agreement with its current investor relations firm,
Ascenta Capital Partners Inc., will be terminated effective May 30th, 2011. Panoro wishes to thank Ascenta Capital for its past services.
Panoro's strategic focus is to move its advanced stage Copper and
Copper/Gold projects to the feasibility and development stages and to
explore its other projects. Panoro recently closed a $6.5 million
non-brokered private placement positioning the company to continue
developing its significant portfolio of exploration projects. The
Company's large portfolio includes the advanced Cotabambas Copper-Gold
and Antilla Copper-Molybdenum Projects which include NI 43-101 inferred
level resources of:
90 million tonnes at 0.77% Cu and 0.42 g/t Au (0.4% Cu cutoff)
154 million tonnes at 0.47% Cu and 0.009% Mo (0.25% Cu cutoff)
In addition to the on-going exploration program at the Cotabambas
Project, the Company plans exploration work at its Kusiorcco Copper
Project and Cochasayhuas Gold Project in 2011. Panoro has ten other
exploration properties in Peru and is currently evaluating investment
alternatives including joint ventures.
Panoro's significant portfolio of projects is located primarily in the
southeastern region of Peru. This region contains a number of important
copper and copper/gold deposits including Xstrata's Las Bambas and
Antapaccay Copper Projects and the Tintaya Copper Mine. In September
2010, Xstrata announced US$5.7 billion of investment to develop the Las
Bambas and Antapaccay projects. The region also includes the Haquira
Copper Project, recently acquired by First Quantum Minerals in October
2010, and the Constancia Copper Project, acquired by Hudbay Minerals in
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. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Panoro Minerals Ltd.
For further information:
Panoro Minerals Ltd.
Luquman Shaheen, President & CEO
Renmark Financial Communications Inc.
Barbara Komorowski: firstname.lastname@example.org
Laurence A. Lachance: email@example.com
Tel.: (514) 939-3989 or (416) 644-2020