developing peru’s copper...

April 2015 CORPORATE PRESENTATION

DEVELOPING PERU’S COPPER POTENTIAL

This presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Such forward-looking information and statements are based on current expectations, estimates and projections about global and regional economic conditions as well as industries that are major markets for Panoro Minerals Ltd. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. Further, to the best of management’s knowledge the information throughout the presentation is revised and up to date.

TSXV:PML 2

FORWARD LOOKING STATEMENTS

TSXV:PML 3

INVESTMENT HIGHLIGHTS • Key Copper Projects in Emerging District in Peru

• Cotabambas Cu/Au/Ag Project o Preliminary Economic Assessment Completed

• 80,000 tpd open pit mine, 19 year mine life,

• Cu/Au/Ag concentrate, clean and high value

• $627.5 M NPV, 14.4% IRR and 4 year payback, after tax

• $1.26 C1 cash cost, lower quartile

• Potential for growth and enhancement

o Indicated Resource 117.1 Mt @ 0.42% Cu, 0.23g/t Au, 2.74g/t Ag, 0.001% Mo

(@0.2% Cueq cutoff)

o Inferred Resource 605.3 Mt @ 0.31% Cu, 0.17g/t Au, 2.33g/t Ag, 0.002% Mo

(@ 0.20% Cueq cutoff)

• Antilla Copper/Molybdenum Project o Indicated Resource 188.5 Mt @ 0.40% Cu, 0.009% Mo (@ 0.20% Cueq cutoff)

o Inferred Resource 145.9 Mt @ 0.28% Cu, 0.009% Mo (@ 0.20% Cueq cutoff)

o Preliminary Economic Assessment underway

• Portfolio of attractive early stage projects in same copper/gold belt and in close proximity to other significant mining projects

Luis Vela, P. Geo., Vice President of Exploration for Panoro and a "qualified person" under National Instrument 43-101, has reviewed and approved the scientific and technical information

TSXV:PML 4

CAPITAL STRUCTURE & SHARE PERFORMANCE

Tickers

TSX-V:PML Lima:PML

Frankfurt:PZM

Share Price 52 Week Low-High

Shares Issued Fully Diluted Issued

220.6 million 237.8 million

$0.18 $0.15 - $0.60

Market Capitalization $40 million

Cash $5 million

(as of April 13, 2015)

TSXV:PML 5

MANAGEMENT&DIRECTORS – PERU EXPERIENCE Management • Luquman Shaheen, P.Eng., M.B.A │ President, CEO, Director

- Over 20 years experience in Mining Sector, 16 years experience in Peru and Latin America

• David W. Huber, C.A. │ CFO

- 13 years professional accounting experience, 7 years as CFO, Corporate Secretary

• Yves Barsimantov │ Vice President, Operations & Peru General Manager

- 14 years management experience with Peruvian banking, fishing and mining sectors

• Luis Vela │ Vice President Exploration

- Over 20 years exploration experience in Peru and Chile mining sectors

• Javier Falcon │ Environmental Manager

- 20 years exploration experience in Peru

Directors • Bill Boden│ Chairman

- Former Chairman of First Coal Corporation

• Anthony Laub│ Director

- Partner at Laub & Quijandria Consultores y Abogados

• Richard Mundie│ Director

- Director of Taseko, former advisor to President Teck, M&A in Peru, representative in China

• Christian Pilon│ Executive Director Peru, Director

- Over 30 years of experience in applied geophysics and mining sector, resident in Peru

• Christiaan Staargaard, P.Geo. │ Director

- President and CEO of Lithic resources Ltd

• Lorne Torjhelm│ Director

- President RNJ Ventures

TSXV:PML 6

P E R U A C O P P E R C O U N T R Y W I T H P O W E R

Corocohuayco, Xstrata

Trapiche, Buenaventura

Haquira, First Quantum

Los Chancas, Grupo Mexico

Quechua, Pan Pacific Copper

Zafranal, Teck / AQM

Cotabambas, Panoro Minerals

Antilla, Panoro Minerals

Projects in Construction / Expansion

Projects in Exploration

Soc Minera Cerro Verde

Double Cu Production 2013 - 2016

Towards World’s Top Cu Producer

Growing Power Supply

2013 – 2014 9,000 MW power capacity growth

2018 – 2024 3,000 MW power supply excess

Power Costs (¢/kWhr): Peru – 6.1 Chile – 12.1 Canada – 5.3 Australia – 8.9

Antapacay, Glencore

Antamina, Teck

Toromocho, Chinalco

Constancia, Hudbay Minerals

Las Bambas, MMG

Cerro Verde, Soc. Minera Cerro Verde

Toquepala, Grupo Mexico

Tia Maria, Grupo Mexico

Quellaveco, Anglo American

TSXV:PML 7

PANORO PROJECTS’ DISTRICT POTENTIAL

• Minmetal, Las Bambas o Acquired 2014, $5.85B o 50% + Completed

• Glencore, Antapaccay

o $1.5 development completed

• Grupo Mexico, Los Chancas

o Feasibility stage

• First Quantum Minerals, Haquira o Acquired Oct 2010

• 5 /¢lb Cueq

• Hudbay Minerals, Constancia

o Acquired Mar 2011

• 10 /¢lb Cueq

o Commercial production expected Q2 2015

Development of Prolific Copper Region to National Goal of No. 1 in Copper Mining

TSXV:PML 8

COTABAMBAS PROJECT P E A O V E R V I E W

• 80,000 tonne per day open pit mine throughput • 533 Mt mineralization, waste:ore ratio 1.03 • Mining with standard track & shovel methods

• Two open pits

o North Pit

o South Pit

• Standard crushing milling, floatation process • Process plant located next to main pit

o 27% Cu, 11.4 g/t Au, 133.7 g/t Ag concentrate grade

• Clean and high value concentrate

• Concentrate hauled to port via truck • Power supply via new 60 km power line from Abancay • Initial Capital Cost $1.4 B

• Operating Costs $8.22/tonne

o Mining $3.33/tonne

o Processing $4.47/tonne

o G/A Costs $0.41/tonne

Waste Rock Facility

North Pit

South Pit

Plant Site

Water Pond

Water Pond


TSXV:PML 9

COTABAMBAS PROJECT D E P O S I T R E S O U R C E

• 24,400 m exploration program completed July 2012

- 18,000 m included in Sept. 2012 Resource

• 33,000 m drilling completed 2013

• Total +57,000 m drilled to date - Plus 9,900 m of legacy drilling

• Contained Metal

Pit Shell Cu (Blb)

Au (Moz)

Ag (Moz)

Mo (Mlb)

Indicated 1.1 0.9 10.3 3.3

Inferred 4.1 3.3 45.3 25.3

Pit Shell Resource (Mt)

Cu (%)

Au (g/t)

Ag (g/t)

Mo (%)

Cut-off

Indicated 117.1 0.42 0.23 2.74 0.001 0.20% Cueq

Inferred 605.3 0.31 0.17 2.33 0.002 0.20% Cueq

2013 Resource Update

Source October 2013 Press Release – NI43-101 Technical Report prepared by Tetra Tech, December 2013


Ccalla Resource

Limits

TSXV:PML 10

COTABAMBAS PROJECT M I N E R A L I Z E D Z O N E S

(AU+Ag+Cu) Colluvium

(Au+Ag) Oxide Gold

(AU+Ag+Cu)

Cu+Ag; CuS<CuR Oxide

Cu+Ag+Au Cooper-Gold

Cu+Ag; CuS>CuR

CU+Au+Ag Supergene Sulphide

(Cu+Au+Ag)

Hypogene Sulphide (Ag+Mo+Cu)

(Cu+Ag)

Latite Dique

TSXV:PML 11

COTABAMBAS PROJECT S I G N I F I C A N T

• High chargeability anomalies identifying:

- pyrite halo around Ccalla Porphyry deposit

- lateral expansion potential of Ccalla deposit

- Target area for step-out drilling

• Five Areas of potential for exploration and step-out drilling

- Areas 1, 2, 3, 4 & 5

E X P A N S I O N P O T E N T I A L

• Low chargeability anomalies identifying:

- NE-SW trend of Ccalla deposit

- Correspond to areas of high magnetic

TSXV:PML 12

COTABAMBAS PROJECT G R O W I N G P R O J E C T

1. Ccalla and Azulccaca Deposits

- Defined and expanding

S C A L E P O T E N T I A L PANORO CLAIMS

10 KM

16 KM

6

7

4

8 5

9

3 2

1

2. Maria Jose Target

- Newly defined - Systematic and channel sampling underway

3. Guacclle Porphyry – Buenavista Target

- Mapping underway - Limited historical drilling

4. Ccarayoc Target

5. Jean Louis PorphyryTarget

- Mapping underway

6. Anarqui Target

7. Chaupec Target

8. Chuyllollo Target

9. Cullusayhua Target

TSXV:PML 13

COTABAMBAS PROJECT P E A S u m m a r y

• $ 981.7 M NPV, 17.3% IRR, 3.6 year payback, before tax

• $ 627.5 M NPV, 14.4% IRR, 4.0 year payback, after tax

• Annual Payable Metals

o 143.4 M lbs Cu

o 88 k oz Au

o 967 k oz Ag

• Life of Mine Payable Metals

o 2.7 B lbs Cu

o 1.6 M oz Au

o 18.4 M oz Ag

• Cash Costs, net of by-product credits

o C1 $1.26 /lb Cu

o C2 $ 2.02 /lb Cu


TSXV:PML 14

COTABAMBAS PROJECT

• 2010 – 2012 Completed Program

- 24,400 m, 39 Drill Hole Program

- Step out and infill drilling

- Primarily at Ccalla deposit

- Drilling almost complete

- $10 million investment

• 2012 – 2013 Expanded Program

- 24,400 m, 39 Drill Hole Program

- +33,000m drilling completed

1. Delineate high grade supergene and

oxide zones at Ccalla Deposit

2. Infill drill high grade pit

3. Test near surface high grade zones at

Ccalla East

4. Delineate Ccalla East Discovery

• 2015 PEA Completed, next step

• Infill and exploration drilling

• Metallurgical testing

• Mine plan optimization

• Leading to feasibility studies

- Indicated Resource 117.1 Mt @ 0.42% Cu, 0.23g/t

Au, 2.74g/t Ag, 0.001% Mo,

- Inferred Resources 605.3 Mt @ 0.31% Cu, 0.17g/t

- Au, 2.33g/t Ag, 0.002% Mo, (@ 0.20% Cueq cutoff)

- High value concentrate

- Significant exploration potential identified

- High grade pit

- Near surface oxide zone

• 2013 Resource Estimate Update


TSXV:PML 15

ANTILLA PROJECT O V E R V I E W

• Advanced stage copper-molybdenum exploration project • Located 140 km southwest of the City of Cusco, Southern Peru • 12 mineral concessions covering 7,500 hectares • Indicated resource estimate of 188.5 million tonnes at an average grade of

0.40% Cu and 0.009% Mo

o Current resource only on the East Block o Higher grade near surface zones

• Some exploration potential around the perimeter of East Block and at West Block

• Potential starter pit with 27 million tonnes at an average grade of 0.69% Cu and 0.011% Mo

• Strip ratio less than 1.0 • Preliminary Economic Assessment underway


TSXV:PML 16

ANTILLA PROJECT RESOURCE ESTIMATE SUUMARY

Zone Cut-Off Grade

Million Cu Mo Contained Cu

Contained Mo

% Cueq Tonnes (%) (%) (Blb) (Mlb)

Hypogene Sulphide

0.20 42.6 0.30 0.010 0.28 9.4

Supergene Sulphide

0.20 132.6 0.45 0.008 1.3 23.4

Leach Capping

0.20 8.7 0.28 0.010 0.027 0.99

Overburden 0.20 4.5 0.27 0.010 0.027 0.99

Total 188.5 0.40 0.009 1.66 35.71

Cut-Off Grade Million Cu Mo Contained Cu

Contained Mo

% Cueq Tonnes (%) (%) (Blb) (Mlb)

0.20 188.5 0.40 0.009 1.7 36

0.30 138.4 0.46 0.009 1.4 27

0.40 84.1 0.54 0.010 1.0 19

0.50 51.6 0.62 0.010 0.7 11

0.60 27.8 0.69 0.011 0.4 6.7

0.70 12.9 0.78 0.012 0.2 3.4

Antilla Easy Block Indicated Resource Estimate

• Sulphide Mineralization

• Clean concentrate with

90% Cu recovery

• Produce 27% - 30% Cu

concentrate grade

• Higher grade zones

• Blocks located together

• Mineable starter and

high grade pit potential


TSXV:PML 17

ANTILLA PROJECT E A S T B O C K S E C T I O N S

Chalcocite

Primary Sulphides

~200m Maximum Pit Depths

0-0.1 0.1-0.3 0.3-0.5 0.5-1.0 >1.0

High Grade Zones At or Near Surface

TSXV:PML 18

ANTILLA PROJECT CONCEPTUAL SITE LAYOUT

• 15 km access road from Provincial

road to site

• 220 kV power line substation 30 Km

• Water supply from local water

coarse

• Mill and Plant site locations identified

• Tailings and Waste rock area

locations identified

• Infrastructure isolated from village of

Antilla

• Mapping and limited drilling at West

Block indicate potential to increase

resource

TSXV:PML 19

R E G I O N A L INFRASTRUCTURE DEVELOPMENT

Power

1. 220 kV Transmission Line

Cotaruse – Las Bambas

Road

2. Heavy Haul Road Antapaccay

– Las Bambas

3. Access Road

Cusco – Las Bambas

Railroads

4. Cusco – Marcona Port

5. Cotabambas – Marcona Port

6. Abancay - Marcona Port

7. Peru Rail 9Mt/yr Concentrate

Shipping Capacity

Port

8. Matarani 7 Mt/yr Concentrate

Shipping Capacity

Cotabambas Project

Las Bambas Project

Antilla Project

1

2

7

8

TSXV:PML 20

R E G I O N A L INFRASTRUCTURE DEVELOPMENT

Antilla Cotabambas

2016 - 2017

2015

Bankable Feasibility Study

Preliminary Economic Assessment

Cochasayhuas

Kusiorcco

Promesa

El Rosal Chap. - Chapi

Mineral IRL JV Utupara

Mineral IRL JV

Pistoro Norte

Sancapampa

Pataypampa

Humanantata

Morosayhuas

Anyo

Alicia

Checca

Development

Feasibility

Advanced Exploration

Early Exploration

Level 2 Prospects

Level 1 Prospects

2007 2009 2012 2013 2013

Cu Au Ag Mo

TSXV:PML 21

PANORO RESOURCE G R O W T H H I S T O R Y

400% GROWTH

Cotabambas at Acquisition

Antilla Resource Added

Cotabambas 2012 Resource Growth

Cotabambas 2013 Resource Growth

Antilla 2013 Resource Growth

75%

84%

77%

75%

76%

25%

14%

18%

19%

17%

4%

4%

4%

31 Mlb

1%

2%

3%

2%

1.6 MoZ

1.5 Blb

3.1 Blb

1.6 Moz

5.3 Blb

3.0 Moz

31 Mlb

37 Moz

1.1 Blb ind 5.7 Blb inf

0.9 Moz ind 3.3 Moz inf

3 Mlb ind 56 mlb inf 10 Moz ind 45 Moz inf

2.7 Blb ind 5.1 Blb inf

0.9 Moz ind 3.3 Moz inf

41 Mlb ind 54 mlb inf

10 Moz ind 45 Moz inf

TSXV:PML 22

GROWING ANALYSTS & INVESTMENT BANKING SUPPORT

TSXV:PML 23

CONCLUSION

COTABAMBAS PROJECT

Large scale copper project, greater potential, strategic location

ANTILLA PROJECT Moderate scale project, infrastructure ease

FINANCED 2014 plans financed Demonstrated success in raising capital as required

COPPER Principal commodity with supply constraints coming and demand strong

PERU Key copper producing nation with national goal to double copper production

GROWTH 2007 to 2013 a 400% increase of in-situ metal Cotabambas Preliminary Economic Assessment completed

24

TSXV:PML Frankfurt:PZM

BVL:PML

For further information, contact: Luquman Shaheen, President and CEO

Phone: 604.684.4246 Email: [email protected]

www.panoro.com

developing peru’s copper...

Documents