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Panoro Announces Increase in Financing to $4,500,000
October 13, 2010

Vancouver, B.C., October 13, 2010 -- Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) ("Panoro") is pleased to announce that further to its news release dated October 12, 2010, the private placement offering (the "Offering") of up to 14,000,000 units (the "Units") for gross proceeds of $3,500,000 has been increased to 18,000,000 Units for total proceeds of approximately $4,500,000. The size of the placement has been increased due to high demand from institutional investors.

Each Unit consists of one common share and one-half of one common share purchase warrant, with each full warrant entitling the holder thereof to acquire one additional common share of Panoro at a price of $0.35 for a period of 18 months following the closing of the financing.

The first tranche of the private placement was completed on September 30, 2010 and consisted of 5,379,620 Units at a price of $0.25 for total gross proceeds of $1,344,905. Shares and warrants comprising the Units are subject to a statutory hold period expiring on February 1, 2011.

On behalf of the Board of
Panoro Minerals Ltd.

Luquman Shaheen, M.B.A., P.Eng., P.E.
President, CEO and Director

FOR FURTHER INFORMATION, CONTACT:

Panoro Minerals Ltd.
Luquman Shaheen, President & CEO
Phone: 604.68.4246
Fax: 604.684.4200
Email: info@panoro.com
Web: www.panoro.com

Investor Relations
Jim Glass, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 225
Phone: 866.684.4209
Email: jim@ascentacapital.com

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.
 
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Panoro Minerals Ltd
DEVELOPMENT STAGE
CODE : PML.V
ISIN : CA69863Q1037
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Financings of Panoro Minerals Ltd
3/9/2012Closes Bought Deal Private Placement to Raise $13.8 Million
2/23/2012Announces $10,002,000 Bought Deal Financing
7/8/2011Announces Closing of Second and Final Tranche of Financing
7/4/2011Announces Closing of First Tranche of Financing
6/13/2011Arranges Private Placement
10/1/2010Closes First Tranche of Private Placement
1/5/2010Closes $622,800 Private Placement
Option Grants of Panoro Minerals Ltd
2/19/2008Company Grants Stock Options
Nominations of Panoro Minerals Ltd
5/8/2011. Retains Renmark Financial Communications Inc.
2/22/2011Announces Appointment of Mr. David W. Huber as Chief Financi...
6/8/2010Appoints Kallpa Securities SAB as Sponsor for Listing on Lim...
3/25/2010Appoints Richard Mundie To Board of Directors
4/18/2008 Lays Foundation for Future with Orderly CEO Succession, App...
Project news of Panoro Minerals Ltd
5/6/2013(Cotabambas)Intersects 103.6 Meters Grading 0.79 %Cu, 0.58 g/t Au and 5....
1/28/2013(Antilla)Recommences Antilla Cu/Mo Project, Peru
11/27/2012(Cotabambas)Announces Results from Ongoing Exploration at Cotabambas Cu/...
11/1/2012(Cotabambas)Announces Results from Ongoing Exploration At 100% Owned ...
3/29/2011(Cotabambas)Completes Three Year Community Agreement and Plans Expansion...
2/17/2011(Cotabambas)Project Update
11/15/2010(Cotabambas)Commences Exploration at Cotabambas Copper-Gold Project in P...
9/27/2010(Antilla)Announces Termination of Antilla Project Agreement with Chan...
8/26/2010(Antilla)Antilla Joint Venture Drills 45 Metres of 0.73% Cu
8/20/2010(Antilla)Results from Antilla Joint Venture Project in Peru Highlight...
7/23/2010(Antilla)Initial Assay Results Of The Infill Drilling Program At Pano...
6/23/2010(Antilla)Infill Drilling Program Making Progress at Panoro's Antilla...
9/29/2009(Alicia Property)Options Alicia Cu-Au Property in Peru to Strait Gold Corpora...
5/1/2009(Antilla)Completes Quality Control and Validation Program for Antilla...
1/28/2009(Antilla)Successful Completion of 2008 Exploration Program at Antilla...
12/8/2008(Antilla)Announces Double Success at Antilla Project, Peru with 48 Me...
10/8/2008(Antilla)Expands Target Area at Antilla Project and Continues Success...
9/3/2008(Antilla)Antilla, Peru, Further Results Meet and Exceed Expectations,...
8/13/2008(Antilla)Encouraging First Results Indicating Continuity of Grade and...
6/25/2008(El Rosal)Acquires Additional Mineral Concessions at El Rosal Project,...
12/3/2007(El Rosal)Final Drilling Permit for El Rosal received Field Work under...
11/21/2007Progress on the Permitting Front and Community Relations App...
Corporate news of Panoro Minerals Ltd
3/14/2013completes C$15 million bought deal financing
11/15/2012Announces Community Agreement and Approval of Additional ...
10/24/2012(Cotabambas)Announces Filing of NI 43-101 Technical Report for Cotabamba...
10/17/2012Announces Granting of Options and Appointment of VP Expl...
9/27/2012Arbitration Committee Confirms Termination of Joint Venture ...
11/1/2010Closes Third and Final Tranche of $6.5 Million Financing
10/18/2010Announces Increase in Financing to $6,500,000 and Closing of...
10/13/2010Announces Increase in Financing to $4,500,000
10/12/2010Announces Increase in Financing to $3,000,000
9/25/2010Clarifying press release
4/30/2010The Northern Miner - Panoro finds partner for Antilla in Per...
2/13/2010Retains Ascenta Capital Partners for Investor Relations
6/22/20091.6 Billion pound Copper Inferred Resource Estimate at the E...
6/15/2009annual general meeting
5/15/2009Grants Options
9/9/2008Research Capital presents update report on Panoro Minerals L...
6/2/2008Exploration Program Commenced at Antilla Project
5/21/2008With Permit in Hand Panoro to Start Drilling Program at the ...
5/13/2008Announces Proposed Implementation of Shareholders Rights Pla...
4/7/2008 Changes Name of Subsidiary in Peru to Panoro Apurimac S.A.
3/17/2008 Grants Consorcio Minero Horizonte Option to earn 50% in Coc...
1/21/2008 Starts First of Four Drill Programs
12/5/2007 Signs Formal Agreement with Antilla Community Drilling in e...
10/4/2007Two of the Company's Projects Designated as Projects of Nati...
9/18/2007Progress Report since the Acquisition of Cordillera de las M...
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TSX-V (PML.V)FRANKFURT (PZM.F)
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