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  Panoro Options Alicia Cu-Au Property in Peru to Strait Gold
  Corporation
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Vancouver, B.C. and Lima, Peru, September 29, 2009. Panoro Minerals
Ltd. (TSX Venture Exchange --PML) ("the Company") is pleased to
announce that it has entered into an agreement with Strait Gold
Corporation (StraitGold) such that Strait Gold may earn up to a 100%
interest in its early stage Alicia copper-gold property in SouthernPeru
subject to a 2% net smelter return royalty.

Under the terms of the option agreement, Strait Gold can earn a 100%
interest by issuing 1,000,000 shares and spending $1.25 million over
the three-year term of the agreement. The first 100,000 shares are to
be issued upon signing with further payments on the first, second and
third anniversary dates with the anniversarydate established as the
date a community agreement to allow drilling is reached but not later
than 18 months from signing. Panoro will retain a 2% net smelter return
royalty, half of which Strait Gold can purchase for a one-time payment
of US $2.3 million withinsix months of earning a 100% interest. If
Strait Gold does not earn the 100% interest but issues a minimum of
600,000 shares and conducts a minimum of $650,000 of work withintwo
years, it will earn a 55% interest.

The Alicia property is one of 14 properties held by the Company. The
Company's most advanced properties are the Cotabambas and Antilla
projects which are also located within the same prolific
Andahuaylas-Yauri porphyry copper belt as Las Bambas (900 million
tonnesof0.9% copper), Haquira (686 million tonnes at 0.5% copper),Los
Chancas (355 million tonnes at 0.6%copper) and Tintaya (158 million
tonnes at 1.2% copper and 0.16 g/t gold) among others.

The Company's Cotabambas and Antilla projects contain a NI 43-101
compliant inferred resource of:

Cotabambas 114 Mt @ 0.68% Cu and 0.38 g/t Auat 0.30% Cu cut-off

Antilla 154 Mt@ 0.47% Cu and 0.009% Moat 0.25% Cu cut-off

The Company is in the late stages of evaluating financing alternatives
to advancethese projectsto feasibility level.

The completion of the option agreement for its Alicia Property adds
anotherproperty from the Company's portfolio to those on the road to
development.

On behalf of the Board of
Panoro Minerals Ltd.

Luquman Shaheen, M.B.A., P.Eng., P.E.
President, CEO 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, e-mail
info@panoro.com or visit the company's website at www.panoro.com This
release was prepared by management of the Company which 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) 2009 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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