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

Panoro Minerals Ltd. announced it has received a US$2.0 million payment from TABB Partners LLC. The payment relates to TABB's option to acquire the remaining 1% interest in the 2% Net Smelter Return (NSR) on the Cotabambas Project. TABB retains the exclusive right to acquire this remaining interest on or before January 19, 2027. The payment was made pursuant to an option agreement dated March 4, 2024, as amended, following previous announcements on January 20, 2026, and June 22, 2026. Proceeds are allocated to ongoing exploration, development, and operational costs.

Panoro Minerals Ltd. (PML) received US$2.0 million, a direct, non-dilutive cash inflow that strengthens near-term liquidity. The payment was previously flagged as expected by late July 2026; the early August receipt represents a minor delay but confirms the milestone. It does not alter the fundamental development thesis but adds to the capital stack already secured by the C$21.0 million LIFE offering in May 2026 and other recent financings. The transaction is a routine follow-up to known option agreements and does not introduce new strategic risks or upside surprises.

Panoro Minerals Ltd. is a Canadian mining company focused on the Cotabambas Project in southern Peru. The project is 100% owned and hosts a 1.0 billion-tonne mineral resource containing 12.5 billion pounds of Copper Equivalent (CuEq).

The high-grade component consists of 129.0 million tonnes Indicated at 0.70% Cu, 0.44 g/t Au, and 4.12 g/t Ag, alongside 93.1 million tonnes Inferred at 0.59% Cu, 0.41 g/t Au, and 5.31 g/t Ag.

The company's strategy focuses on capital-efficient development of high-grade zones, targeting a 20-30 ktpd starter mine with a short payback period. Environmental permits are valid until 2030, and the company has secured 10 community access agreements, reinforcing its social license.