Panoro Minerals Ltd. · TSXV:PML
Panoro Minerals — Investor Presentation (June 2025)
23 slides from Panoro Minerals's investor presentation, June 2025
Slide 1: Developing Peru's Next Copper Mine
TSX-V: PML BVL: PML OTC: POROF BORSE: PZM DEVELOPING PERU’s NEXT COPPER MINE Corporate Presentation June 2025
Slide 2: Forward Looking Statements
Forward Looking Statements CAUTION REGARDING FORWARD LOOKING STATEMENTS: Information and statements contained in this presentation that are not historical facts are “forward-looking information” within the meaning of applicable Canadian securities legislation and involve risks and uncertainties. Exa
Slide 3: Cotabambas Project: Advancing to Pre-Feasibility Study
Cotabambas Project Advancing to Pre-Feasibility Study 2024 Accomplishments 2025 Programmed Advances • Increased M/I/I Resource 43% • Reduce Initial Capital Cost • Increased Indicated Resource 333% o Focus on High Grade Starter Pit • Increased High Grade Zone 247% • Improve Recoveries • High Grade Zo
Slide 4: Mine Plan Trade-off Study
Mine Plan Trade-off Study Objectives and Targets(1) ❑ Start Mine @ 40,000 tpd Reduce Initial Capital Cost ▪ Grow to 80,000 tpd after 4+ years ❑ Focus 40,000 tpd Mine Plan on High Grade Maximize Cash Flow in Early Zones Years of Operations (1) INITIAL (1) NPV (1) IRR (1) PAYBACK (1) NPV/CAPEX 7.5 CAP
Slide 5: 2025 Project PEA
2025 Project PEA Value Addition Targets TSXV-PML Page 5
Slide 6: Upcoming Milestones
Upcoming Milestones Towards Pre-Feasibility ❑ Mine Plan Trade-off Study ▪ High Grade Starter Pit ▪ Lower Capex, Lower Throughput Starter Pit ▪ Self Fund Expansion of Throughput ❑ New PEA ▪ Optimized Startup Mine Plan ▪ Improved Metallurgical Recoveries ▪ Pit Slope Steepening ▪ Waste Storage Footprin
Slide 7: Funding 2024 - 2026
Funding 2024 - 2026 Antilla Project Payments Due ❑ $2.7 M Payment (#2) March 2024 ❑ $7.0 M Payment (#3) 2025 ❑ $20.0 M Payment (#4) Contingent Value 2025 / 2026 ❑ Other Strategic Partner Funding Discussions Underway ▪ Joint Venture ▪ Precious Metals Stream Expansion TSXV-PML Page 7
Slide 8: Mineral Resource Overview
Mineral Resource Overview January 2024 Update ❑ 1 Billion tonne Target Achieved ❑ High Grade Component of Mineral Resource ❑ 507.3 Mt @ 0.34% Cu, 0.20 g/t Au, 2.42 g/t Ag, 0.0021% Mo (0.43% Cueq) - Indicated ▪ 129.0 Mt @ 0.70% Cu, 0.44 g/t Au, ▪ 333% Increase 4.12 g/t Ag, 0.0014% Mo (0.91% ▪ 51% Tot
Slide 9: Mineral Resource Growth Potential
Mineral Resource Growth Potential Resource and Project Scale • High Grade • 19 Geologic Targets Corridor Identified Identified • 2 Included • Open Along in Resource Strike • 6 drilled • High Grade at Block Model • Growing Limits at Project South Potential Open TSXV-PML Page 9
Slide 10: High Grade Component – Starter Pit
High Grade Component – Starter Pit Continuity and Growth Potential • Continuity • High Grade Starter North Pit of High South Pit Pit Potential Grade • 87 Mt @ 0.80% Cueq • High Grade • High Grade Below at Surface PEA PIT • High Grade • Limited Open at Prestripping Depth • Open to South • 265 Mt @ •
Slide 11: Project Growth Areas
Project Growth Areas Open to South ENHANCED PERMITTING OUTLOOK • Pits constrained to avoid developed areas • Growth to south where no developed areas exist • Facilitate permitting of startup of project with high grade starter South Pit • Reduce initial Capital Cost • Self fund future expansion of th
Slide 12: Strategic Project Location
Strategic Project Location Southern Peru Copper Belt HEART OF PERU MINING CLUSTER ❑ Global copper mining sector heavily invested in southern Peru ❑ 12 large scale open pit copper mines/projects ❑ Panoro only exploration company with 100% control of advanced copper project ❑ Infrastructure in place:
Slide 13: Critical Infrastructure In Place & Growing
Critical Infrastructure In Place & Growing Road and Port Alternatives Southern Route to Matarani Port Northern Route to Marcona Port • Existing • Alternate Road in access to place port in future • Used by • New bridge existing complete operating mines • Approach roads to • Access to north and Matara
Slide 14: Northern Route to Marcona Port
Northern Route to Marcona Port Kutuctay Bridge Completed Public access bridge/road Funded through “works for taxes” program Crossing located ~ 10 Km East of Cotabambas Project TSXV-PML Page 14
Slide 15: Strong Community Support
Strong Community Support A Decade in the Making COCHAPPATTA COMMUNITY CONVENIO 9th Community Convenio at Project Land Purchase Local Labor Economic Support to Seniors Scholarships TSXV-PML Page 15
Slide 16: Environmental Permits Expanded September 2024
Environmental Permits Expanded September 2024 14 Years of Continuity Environmental Licensing – Historical 1. Cotabambas-Ccalla - Constancia de Aprobación 4. Cotabambas - Resolución Directoral N° 194-2012-MEM- Automática N° 062-2010-MEM-AAM del 4 de octubre AAM, del 12 de junio del 2012, Aprueba el E
Slide 17: Environmental Permit Expansion Approved
Environmental Permit Expansion Approved September 2024 • 3,076 ha under permit expanded by 3,512 ha • Total hectares: 6,588 • Covers 14 of 19 targets TSXV-PML Page 17
Slide 18: The Era of Copper
The Era of Copper Demand Growth Inevitable • Global Forces Driving Demand Growth 1. Energy Security 2. Climate Change • Innovation Supporting Demand Growth 1. Electric Vehicles 2. Solar and Wind Power Generation • Worldwide Demographics Enhancing Demand 1. Urbanization China, India, S.E. Asia, 2. In
Slide 19: Mining in Peru
Mining in Peru Road Map to Development and Stability • A country of 33.4 million • Peru maintains investment- • From pre-Inca times through • Peru is a global leader in the people grade credit rating since Inca, colonial and republican mining industry December 2009 matching periods mining has been o
Slide 20: Enhancing Project Value
Enhancing Project Value Reduce Shift Capex with Stage Project South High Grade Starter Pit From Developed Areas MOVE TO Concentrate Improved Route PRE-FEASIBILITY Recoveries Alternatives STUDY LEVEL Reduce Incorporate New Waste Areas Higher Commodity Footprint Prices TSXV-PML Page 20
Slide 21: Capital Structure & Share Performance
Capital Structure & Share Performance Tickers TSX-V:PML BVL:PML BORSE:PZM OTC:POROF Share Price $0.60 52 Week Low-High $0.65 - $0.09 Shares Issued 264.4M Options 11.3M Fully Diluted 275.6M Market Capitalization Undiluted $158.7M Source: https://www.stockwatch.com/Quote/Detail?C:PML Fully diluted $16
Slide 22: Management & Directors – Peru Experience
Management & Directors – Peru Experience MANAGEMENT DIRECTORS LUQUMAN SHAHEEN, PENG, PE, MBA – PRESIDENT & CHIEF EXECUTIVE AUGUSTO BAERTL – CHAIRMAN OFFICER & DIRECTOR Over 50 years of experience in the Peruvian and International Over 27 years experience in mining sector, 20 years Mining Sector expe
Slide 23: TSXV:PML OTCQB:POROF BVL:PML
Logo, icon Icon Icon Description automatically generated Description automatically generated Description automatically generated TSXV:PML For further information, contact: OTCQB:POROF Luquman Shaheen, President and CEO Phone: 604.684.4246 BVL:PML Email: info@panoro.com BORSE:PZM www.panoro.com TSXV-