Panoro Minerals intersects 92 metres grading 0.95 %Cu, 0.49 g/t Au and 6.2 g/t Ag at the Cotabambas Cu/Au/Ag project, Peru

Tuesday, Jan 22, 2013

VANCOUVER, Jan. 21, 2013 /CNW Telbec/ - Panoro Minerals Ltd. (TSXV: PML) (Lima: PML) (Frankfurt: PZM) ("Panoro", the "Company") Panoro is pleased to report additional assay results from its 100% owned Cotabambas porphyry copper-gold-silver project located in southern Peru. The drill results include infill and step out drill holes to the east, west and north sides of the Ccalla deposit.  Some highlights are as follows:

--  Drillhole CB-95 intersected 91.9m of supergene copper mineralization grading 0.95% Cu, 0.49g/t Au and 6.2g/t Ag including 57.0m of copper oxide mineralization averaging 0.74%Cu, 0.50g/t Au and 6.9 g/t Ag, underlain by 35m of enriched chalcocite mineralization grading 1.30%Cu, 0.49g/t Au and 5.1g/t Ag.

--  Drillhole CB-98 intersected 71.2m of supergene copper oxides averaging 0.90% Cu, 0.61g/t Au and 3.7g/t Ag, including 38.1m grading 1.16% Cu, 0.79g/t Au and 4.3g/t Ag, and underlain by 340m of primary copper mineralization averaging 0.41% Cu, 0.21g/t Au and 2.8g/t Ag.

--  Drillhole CB-99 intersected 73.9 m of supergene enriched chalcocite mineralization grading 0.92% Cu, 0.04g/t Au and 1.4g/t Ag including 32.0m grading 1.93% Cu, 0.04g/t Au and 1.1g/t Ag, immediately underlying 102.6m of supergene copper oxide mineralization averaging 0.24% Cu, 0.18g/t Au and 2.3g/t Ag including 16.0m grading 0.49%Cu, 0.25g/t Au and 2.4g/t Ag.

Step Out Drill Holes

Hole CB-70 was a step out hole drilled in the west side of Ccalla Deposit,
parallel but 100m to the west of previously published hole CB-69, but in the opposite direction. Wide zones of latite bodies were intercepted with no significant grades. This hole may define a limit of the primary mineralization intercepted in hole CB-69. However, approximately 100m to the northwest of hole CB-70, there are porphyry outcroppings exposing supergene iron and copper oxide mineralization, where additional drilling will be required.

Hole CB-91 was a step out hole drilled to the east side of Ccalla Deposit,
parallel to and 150m to the north of hole CB-74. From surface to 10.6m, a zone of copper oxide mineralization grading 0.32% Cu, 0.09g/t Au and 2.0g/t Ag was intersected.

Hole CB-94 was a step out hole drilled to the west side of Ccalla Deposit,
positioned parallel and 150m to the west side of previously published hole
CB-67.  Two intervals of mixed mineralization were intersected including 31.5m grading 0.17%Cu, 0.06g/t Au and 1.2 g/t Ag, and 45.2m averaging 0.18%Cu, 0.19g/t Au and 1.5g/t Ag.

Hole CB-99 was a step out hole drilled to the north side of Ccalla Deposit, from the same site of hole CB-97.  It is collared 100 m to the west of previously reported hole CB-43, which identified a new zone of supergene enriched copper mineralization that is still open to the north. Hole CB-99 explored the continuity of this mineralization a further 170m to the north, confirming the continuity yet leaving open the limits of the existing supergene environment.

From surface to 44.0 m a barren leached capping zone was intersected underlain by 102.6m of copper oxide mineralization averaging 0.24% Cu, 0.18g/t Au and 2.3g/t Ag including 16m grading 0.49%Cu, 0.25g/t Au and 2.4g/t Ag. Immediately below this zone there is 73.9 m of supergene enriched chalcocite mineralization averaging 0.92% Cu, 0.04g/t Au and 1.4g/t Ag, including 32.0m grading 1.93% Cu, 0.04g/t Au and 1.1g/t Ag.

Source: PANORO MINERALS LTD.