Mr. Jason Latkowcer reports

PAN AMERICAN ENERGY ANNOUNCES DRILL PERMIT AMENDMENT APPROVAL FOR THE PHASE TWO DRILLING PROGRAM AT THE HORIZON LITHIUM PROJECT

Pan American Energy Corp. has received approval on the submitted notice of amendment (NOA) to the Bureau of Land Management (BLM) -- Tonopah field office for exploration drilling at its 17,334-acre Horizon lithium project. The NOA captures the company's adjusted drill program design to focus drilling on the central and eastern portions of the property. The company is fully permitted to drill up to 22 lithium prospecting core holes with associated access on federal surface and mineral, under the management of the BLM -- Tonopah field office, approximately 7.4 miles west of Tonopah, Esmeralda county, Nevada. The company recently completed an 11-hole phase 1 drill program that led to the discovery of a lithium cluster on the Horizon lithium project.

Pan American's chief executive officer, Jason Latkowcer, commented: "Our phase 1 program led to the discovery of a significant lithium cluster on our property. All drill holes encountered lithium, with wide areas of mineralization and results as high as 2,040 ppm [parts per million] lithium. In collaboration with RESPEC, our geological and operations partner, we submitted an amended drill program to the Bureau of Land Management, which was promptly approved. The updated program reflects the lessons learned from phase 1 and focuses our drilling efforts on the central and eastern parts of the property. This approach is expected to help us generate an inferred resource by the end of the year. We are actively assessing the potential for additional exploration and drilling programs for the remaining two-thirds of the property."

The company had been previously permitted for 22 drill holes and submitted an amendment application to the Bureau of Land Management to adjust the drill pattern. Drill targets will be continuously evaluated to focus on the highest-priority drill holes which may include twinning of holes.

Qualified person

The technical content of this news release has been reviewed and approved by Tabetha Stirrett, PGeo, who is a qualified person as defined by National Instrument 43-101.

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 Esmeralda county-Tonopah lithium belt, Nevada, United States.

We seek Safe Harbor.