Mr. Jason Latkowcer reports

PAN AMERICAN ENERGY CORP. ANNOUNCES APPOINTMENT OF NICKY GRANT TO BOARD OF DIRECTORS AND GRANT OF OPTIONS AND RSUS

Pan American Energy Corp. has welcomed a new member to its board of directors, Nicky Grant, who brings with her over 18 years of experience in investment banking. Ms. Grant started her career in the U.S. institutional desk at Goldman Sachs before moving to the special execution group in corporate finance, where she specialized in debt capital markets. She then worked for UBS as part of its transaction management team and focused on global capital markets, with a particular focus in emerging markets. She then rejoined Goldman Sachs as a vice-president and joined its equity capital markets team covering U.K. companies.

In September of 2022, Ms. Grant became head of corporate advisory for Ocean Wall Ltd., a market-leading investment house specializing in all aspects of niche alternative investing and advisory. As announced in the company's press release on Dec. 6, 2022, Ocean Wall currently serves as an adviser to the company, providing global capital introduction and general corporate, business and strategic advisory services. Ms. Grant also holds roles as U.K./European investor relations and corporate adviser to TSX Venture Exchange- and Canadian Securities Exchange-listed companies in the critical minerals space, as well as a role as the sole U.K./European adviser to a New York Stock Exchange-listed medical company.

Jason Latkowcer, chief executive officer, commented: "We are thrilled to welcome Ms. Nicky Grant to the board of directors at Pan American. Her extensive experience in investment banking, specifically in capital markets, and her expertise in the lithium sector, make her an invaluable addition to our team. With the growing demand for lithium and our commitment to becoming a leader in the space, we believe that Nicky's insights and guidance will be instrumental in helping us achieve our goals. We are confident that her contributions to the board will enhance our ability to deliver value to our shareholders and we look forward to working with her."

Pan American also announces that it has granted 200,000 stock options, each with an exercise price of 64 cents, to Ms. Grant in connection with her appointment to the board of directors of the company and 350,000 restricted stock units to Mr. Latkowcer as partial compensation for his continuing service to the company as president and chief executive officer. Fifty thousand of the options granted to Ms. Grant shall vest immediately, with the remaining 150,000 options vesting in three equal instalments on Sept. 15, 2023, Jan. 15, 2024, and May 15, 2024. The options granted to Ms. Grant shall expire on May 15, 2026. The RSUs granted to Mr. Latkowcer vest in four equal instalments of 87,500 RSUs on Aug. 12, 2023, Nov. 12, 2023, Feb. 12, 2024, and May 12, 2024.

Each vested option, upon payment of the exercise price, entitles Ms. Grant to receive one common share of the company and each vested RSU, upon settlement, entitles Mr. Latkowcer to receive one common share of the company. The options and RSUs are governed by the terms and conditions of the company's share-based compensation plan. The options, the RSUs and any shares issued upon the exercise of the options or the settlement of the RSUs will be subject to a hold period of four months and one day in accordance with the policies of the Canadian Securities Exchange.

About Pan American Energy Corp.

Pan American Energy is an exploration-stage company engaged principally in the acquisition, exploration and development of mineral properties containing battery metals in North America.

The company executed an option agreement in Canada with Magabra Resources providing for the right to acquire up to a 90-per-cent interest in the drill-ready Big Mack lithium project, 80 kilometres north of Kenora, Ont. The company has also entered a property option agreement with Horizon Lithium LLC providing for the right to acquire a 100-per-cent interest in the Horizon lithium project, located within the Clayton Valley-Tonopah lithium belt, Nevada, United States.

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