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Panorama Resources Ltd.: Panorama Resources Ltd. $250,000 Private Placement

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^{Published in Business and Finance on Friday, August 14th 2009 at 14:55 GMT, Last Modified on 2009-08-14 14:55:11 by Market Wire}  

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2009) - Mr. David Patterson, Chairman of Panorama Resources Ltd. (TSX VENTURE:PRA), announces that the Company is proceeding with the private placement previously announced on June 26, 2009, to raise an aggregate of $250,000 (the "Financing").

The funds will be raised by the Company issuing 2,000,000 Units. Each unit will be comprised of one common share and one common share purchase warrant. Each share purchase warrant entitles the holder to acquire one additional common share of the company for a period of two years, at a price of $0.25 per share.

The funds raised by way of the private placement will be used for general working capital. The private placement is subject to the approval of the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS

PANORAMA RESOURCES LTD.

David Patterson, Chairman

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.