Panoro Transaction with Hudbay Minerals for Kusiorcco Project Net Smelter Return Royalty

VANCOUVER, BC, Jan. 8, 2025 /CNW/ - Panoro Minerals Ltd. ("Panoro" or the "Company") (TSXV:PML.VN) (Lima:PML) (Frankfurt:PZM.GF) (OTC-BB:POROF) announces that Hudbay Peru S.A.C. ("Hudbay Peru"), a wholly-owned subsidiary of Hudbay Minerals Inc. ("Hudbay") has delivered notice to Panoro that it intends to exercise its option to repurchase and cancel the 2% net smelter return royalty on the Kusiorcco Project (the "Royalty") held by the Company, for cash consideration of USD $2.0 million. Hudbay Peru and Panoro are in the process of having the repurchase and cancellation of the Royalty registered in the Peru Public Registry ("Royalty Registration") which when finalized, will complete the transaction. The Royalty Registration is expected to be finalized in the coming weeks. The Company retained the Royalty from the sale of its Kusiorcco Project to Hudbay in 2018.