Panoro Minerals Ltd. provided an update on exploration activities at the Humamantata project. The Humamantata Project is being advanced under the terms of a Joint Venture agreement the Japan Oil, Gas and Metals National Corporation (JOGMEC). The Company has completed an extensive exploration program including geologic mapping, geochemical sampling and analysis and ground a geophysics program in preparation for a phased exploration drilling program to follow. The work to date has identified four targets: Target 1, Cu/Au/Ag porphyry mineralization located to the north of the property; Target 2, Ag Hydrothermal Breccia Mineralization located to the south of Target 1; Target 3, Ag Hydrothermal Breccia and Ag-Cu Stockwork Mineralization in the south property; and Target 4. Ag Hydrothermal Breccia and Cu-Au Skarn Mineralization located to the north of Target 2. Targets 1, 2 and 4 have been the focus of exploration and analyses over the last 3 months to define the proposed exploration drilling program. Exploration work at Target 4 has identified important exploration potential in a Cu-Au Skarn type mineralization, in addition to the previously identified Targets 1 and 2. The Company has completed including 3G works (mapping, geochemistry, geophysics), data analysis/interpretation and a preliminary drilling program in Targets 1, 2 & 4. To date the Company has completed the following field activities: Geologic mapping at 1:1,000 scale over an area covering 1,200 hectares of the total 3,600 hectares of concessions comprising the Humamantata Project; 647 samples from surface outcrops have been collected over the target areas for geochemical analysis; 68 fresh and mineralized rock samples for Mineragraphy and Petrography studies; 130 fresh and mineralized rock samples for a Lithogeochemistry study; 496 rock samples by PIMA Spectrometry for a mineral alterations study; 53.2 km of ground Induced Polarization geophysical surveys; and 80 km of ground Magnetic Resonance surveys. The drilling program in Target 1 has been defined, while at Targets 2 and 4 additional exploration and interpretation work is being completed to finalize drilling plans. The permitting completed to date at the project includes: Environmental Technical File (FTA) Approval; Water Permit Approval; Archaeology Permit Approval; and Surface Access Approval (Partial). The Company anticipates the completion of the final surface access agreements and the approval of the Start of Operations Permit in time to commence mobilization of drilling equipment in June.