I'm sorry that you have been kicked out of the program.. that is a tough spot to be in.
I don't have any experience with this, but I would have a plan. And then present that plan to the panel.
Talk to some of the older professors that you are comfortable with and ask them what you should do. Say that giving up is not an option for you. They will empathize with you and they also have experience with many students that have been in your position before. They know what has worked, what hasn't worked.. what students did to turn things around for them, etc. DO THIS before coming before the panel. Essential. A must. You have to be guided they are the ones that can really do that for you. Other students that have failed and made it back in will only tell you what happened to them and what worked for them (ok, great).. but everyone's situation is different.
Here are a few things I would discuss with the professors.. see if you are allowed to present to the panel that you are willing to follow some extra rules to ensure that you will make it the second time around.
1) Exhaust tutoring resources for each class.
2) Meet with professors once every 2 weeks to discuss topics and your understanding of them.
3) Having an academic adviser to meet with every month to discuss your study schedule, how things are going in class, and how to improve your performance. More general than meeting with your professors.
I'm speaking out of inexperience but this is personally how I would approach the issue if it were to happen to me. I'm sorry, good luck, and let us know how things go down for you.