Panoro Signs Long-Term Access Agreement for Cotabambas Project

Panoro Minerals Ltd. has signed a five-year surface access agreement, known as a "Convenio," with the Cochapata Community in Peru. The deal grants the company rights to conduct exploration across the community's lands, specifically enabling a planned 10,000-meter drilling program at the North Pit. This drilling initiative aims to expand and upgrade the high-grade mineral resource to the Indicated category.

Management has outlined a technical study schedule that includes a resource estimate update in early 2027, a Preliminary Economic Assessment (PEA) by mid-2027, and a Pre-Feasibility Study (PFS) by the end of 2027. The agreement also includes community investment commitments in education, employment, infrastructure, and land acquisition near Cusco.

Panoro Minerals Ltd. (PML) released a routine operational update that aligns with its previously announced 45,000-meter 2026 drilling program and community engagement strategy. The company’s progression from community agreements to active drilling at the North Pit follows its established roadmap, a step the market likely priced in given prior announcements of the expanded drill program and multiple community agreements throughout 2026.

The update does not introduce new financial metrics, change the project's economic profile, or alter the development timeline materially. With no material upside or downside surprise present, the focus remains on execution risk and capital preservation.

Panoro Minerals Ltd. (PML) is an exploration-stage company focused on the Cotabambas Copper-Gold-Silver Project in southern Peru. The project is located in a mature mining district characterized by existing infrastructure and a stable regulatory environment.

The company’s current mineral resource totals 1.0 billion tonnes, with a high-grade component comprising 222 million tonnes at 1.2% CuEq. Panoro’s development strategy targets a capital-efficient, short-payback mine focusing on the high-grade core, with a target initial throughput of 20-30 ktpd and total project capex under $1B. Metallurgy is reported as simple, producing a clean concentrate with no penalty elements.