Panoro Minerals Ltd. Announces Receipt of US$2.0 Million Payment from the Sale of Non-core Asset

Rhea-AI Summary

Panoro Minerals (OTCQB: POROF) reported receipt of a US$2.0 million payment from TABB Partners under an option agreement dated March 4, 2024, as amended. The payment relates to the sale of a non-core asset.

According to Panoro, TABB retains the sole and exclusive right to acquire the remaining interest in a 2% net smelter return (NSR) royalty, specifically the remaining 1% of the 2% NSR, on or before January 19, 2027. Panoro describes itself as focused on advancing its 100%-owned Cotabambas copper, gold and silver project in southern Peru, where it is targeting expansion of higher-grade resources through its current drill program.

Positive

• Non-core asset payment of US$2.0 million received from TABB Partners
• Transaction tied to NSR option strengthens cash position without diluting shareholders
• Company reiterates focus on 100%-owned Cotabambas copper-gold-silver project in Peru

Negative

• Potential further reduction of remaining 1% interest in 2% NSR if option is exercised by 2027

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Vancouver, British Columbia--(Newsfile Corp. - August 5, 2026) - Panoro Minerals Ltd. (TSXV: PML) (BVL: PML) (FSE: PZM) (OTCQB: POROF) ("Panoro" or the "Company") announces that further to its news releases dated January 20, 2026 and June 22, 2026, pursuant to the option agreement dated March 4, 2024, as amended, TABB Partners LLC ("TABB") has paid US$2.0 million to the Company. TABB retains the sole and exclusive right to acquire the remaining interest in the 2% NSR (that is, the remaining 1% of the 2% NSR) on or before January 19, 2027.

About Panoro

Panoro is a Canadian mineral exploration and development company focused on advancing its 100% owned Cotabambas Copper, Gold and Silver Project, located in the Apurimac region in southern Peru. The Company is targeting expansion of its higher-grade resources with its current drill program.

Additional information regarding the Cotabambas Project can be found in the technical report dated February 26, 2024 (effective date November 20, 2023) titled "Technical Report on the Cotabambas Copper Gold Project, Panoro Minerals Limited, Apurimac, Peru" and prepared by Paul Daigle, P.Geo., Oscar Retto, MinEng and Neil Lincoln, P.Eng. of AGP Mining Consultants Inc., which is available on SEDAR+ at www.sedarplus.ca.

ON BEHALF OF PANORO MINERALS LTD.

Luquman Shaheen, President & CEO

For Further Information, Please Contact:

Luquman Shaheen, President & CEO
Email: info@panoro.com
Tel: 604-684-4246
Web: www.panoro.com

Neither the 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.

CAUTION REGARDING FORWARD LOOKING STATEMENTS:

Information and statements contained in this news release that are not historical facts are "forward-looking information" within the meaning of applicable Canadian securities legislation and involve risks and uncertainties.

Examples of forward-looking information and statements contained in this news release include information and statements with respect to the timing of TABB's right to acquire the remaining 1% interest in the 2% NSR; and the Company's plans and expectations for the Cotabambas Project, including its current drill, exploration, permitting and engineering programs and its objective of expanding higher-grade resources.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. In some instances, material assumptions and factors are presented or discussed in this news release in connection with the statements or disclosure containing the forward-looking information and statements. You are cautioned that the following list of material factors and assumptions is not exhaustive. The factors and assumptions include, but are not limited to, assumptions concerning: the Company using the C$7.0 million cash payment as anticipated; completion of the registration of the option exercise with the Peruvian Public Registry and that the Company will receive the related US$2.0 million payment; metal prices and by-product credits; cut-off grades; short and long term power prices; processing recovery rates; mine plans and production scheduling; process and infrastructure design and implementation; accuracy of the estimation of operating and capital costs; applicable tax and royalty rates; open-pit design; accuracy of mineral reserve and resource estimates and reserve and resource modeling; reliability of sampling and assay data; representativeness of mineralization; accuracy of metallurgical test work; and amenability of upgrading and blending mineralization.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements, including, without limitation risks relating to metal price fluctuation; risks relating to estimates of mineral resources, production, capital and operating costs, decommissioning, or reclamation expenses, proving to be inaccurate; the inherent operational risks associated with mining and mineral exploration, development, mine construction and operating activities, many of which are beyond Panoro's control; risks relating to Panoro's or its partners' ability to enforce legal rights under permits or licenses or risk that Panoro or its partners will become subject to litigation or arbitration that has an adverse outcome; risks relating to Panoro's or its partners' projects being in Peru, including political, economic, and regulatory instability; risks relating to the uncertainty of applications to obtain, extend or renew licenses and permits; risks relating to potential challenges to Panoro's or its partners' right to explore or develop projects; risks relating to mineral resource estimates being based on interpretations and assumptions which may result in less mineral production under actual circumstances; risks relating to Panoro's or its partners' operations being subject to environmental and remediation requirements, which may increase the cost of doing business and restrict operations; risks relating to being adversely affected by environmental, safety and regulatory risks, including increased regulatory burdens or delays and changes of law; risks relating to inadequate insurance or inability to obtain insurance; risks relating to the fact that Panoro's and its partners' properties are not yet in commercial production; risks relating to fluctuations in foreign currency exchange rates, interest rates and tax rates; risks relating to Panoro's ability to raise funding to continue its exploration, development, and mining activities; and counterparty risk under Panoro's agreements.

This list is not exhaustive of the factors that may affect the forward-looking information and statements contained in this news release. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information. The forward-looking information contained in this news release is based on beliefs, expectations, and opinions as of the date of this news release. For the reasons set forth above, readers are cautioned not to place undue reliance on forward-looking information. Panoro does not undertake to update any forward-looking information and statements included herein, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308107

FAQ

What did Panoro Minerals (OTCQB: POROF) announce on August 5, 2026?

Panoro Minerals announced it received a US$2.0 million payment from TABB Partners under an option agreement. According to Panoro, this payment relates to a non-core asset and is part of a transaction involving a 2% net smelter return (NSR) royalty interest.

How much did Panoro Minerals receive from TABB Partners under the NSR option agreement?

Panoro Minerals received US$2.0 million from TABB Partners under an option agreement dated March 4, 2024. According to Panoro, this payment is connected to the sale of a non-core asset and forms part of a broader NSR royalty transaction.

What are the key terms of TABB Partners' option on Panoro Minerals' 2% NSR royalty?

TABB Partners holds a sole and exclusive right to acquire the remaining 1% of a 2% NSR royalty. According to Panoro, this option can be exercised on or before January 19, 2027, following the recent US$2.0 million payment to the company.

How does the non-core asset payment affect Panoro Minerals' strategy at Cotabambas?

The US$2.0 million payment provides additional funds while Panoro focuses on its Cotabambas project in Peru. According to Panoro, the company is advancing a drill program targeting expansion of higher-grade copper, gold and silver resources at its 100%-owned Cotabambas project.

What is Panoro Minerals' main exploration focus following the August 2026 payment news?

Panoro Minerals remains focused on its 100%-owned Cotabambas copper, gold and silver project in southern Peru. According to Panoro, it is currently running a drill program aimed at expanding higher-grade resources, while treating the NSR royalty transaction as involving a non-core asset.

Where can investors find technical details on Panoro Minerals' Cotabambas project (POROF)?

Investors can find Cotabambas technical details in a report dated February 26, 2024, effective November 20, 2023. According to Panoro, this technical report is available on SEDAR+ at www.sedarplus.ca and covers the Cotabambas copper-gold project in Apurimac, Peru.