Mr. Jason Latkowcer reports

PAN AMERICAN ENERGY ANNOUNCES COMPLETION OF PHASE TWO DRILLING PROGRAM AT THE HORIZON LITHIUM PROJECT, ESMERALDA COUNTY, NEVADA

Pan American Energy Corp. has completed its phase 2 exploratory subsurface drill program at its Horizon lithium project in Big Smoky Valley, Nevada. The program involved targeted drilling in strategic locations based on geological research conducted by the Company's strategic contractor partner, RESPEC ("RESPEC"). Following the success of the Phase 1 exploratory drilling program, where a lithium mineralization discovery was made, the Phase 2 exploratory drilling program consisted of nine targeted diamond core drill holes at Horizon, aggregating a total of 6,856 feet of drilling.

The successful completion of the drill program represents another milestone for Pan American as it works towards delineating the size, quality, and economic viability of the newly discovered lithium mineralization at Horizon. The Company is awaiting assay results from the Phase 2 drilling program and will use the combined Phase 1 and Phase 2 results to move towards declaring a mineral resource estimate at Horizon in the coming months. RESPEC will continue to support the Company as it works towards declaring a mineral resource in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) standards of disclosure and National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Preliminary Highlights from the Phase 2 drilling program include:

A total of nine boreholes were drilled and cored over 65 days of rig time.

Drill pads were strategically placed to explore the eastern flank of Horizon's subsurface for lithium mineralization.

The average total depth ("TD") for holes drilled in the Phase 2 drill program was 761 ft, with a maximum depth of 1,000 ft (HL024, and HL026).

A total of 6,856 ft was drilled in the Phase 2 drill program, with 5,716 ft, or 84%, of intervals cored in the Siebert Formation.

Compared to the Phase 1 program, less time was spent to reach the target zones due to improved proximity to the Siebert Formation top (ie., shallow overburden) in the areas drilled in the Phase 2 program

Proximity to Surface, Total Depth, and Siebert Elevation:

Phase 2 boreholes did not intersect major subsurface structures with significant vertical displacement of strata due to faulting as was observed in boreholes (HL019 and HL005) located in the west central portion of Phase 1

HL030, located in the northeast quadrant of Horizon, intersected the Siebert Formation top 15.5 feet below the ground surface. This aligns with the interpretation of the Siebert Formation as it outcrops to the east/northeast of Horizon.

There is geological continuity of claystone stratigraphy in the majority of the drill holes. Boreholes HL023, HL024, and HL026 were drilled to a depth of up to 1000 ft based on their proximity to the Phase 1 boreholes (HL005, HL006, HL007, and HL008) where the best lithium mineralization was observed.

Every borehole in Phase 2 except HL027 reached at least 600 ft depth.

Jason Latkowcer, Chief Executive Officer, commented, "The drill program was executed on time and on budget. It reflects the quality of work by the Company and our contractors. The completion of the Phase 2 drill program positions the Company to advance toward the next step of delineating a mineral resource estimate and releasing a NI 43-101 technical report on Horizon in the coming months. Horizon is still vastly unexplored, creating an excellent opportunity for follow-on work programs to take place. With so much activity in the region, we are continually monitoring our industry peers for learnings and gaining valuable insights that will benefit our future exploration activities."

HANDLING AND SAMPLING PROCEDURE

Cored samples were transported twice daily from the drill pad to the RESPEC/Pan American core logging headquarters in Tonopah, NV by RESPEC geologists.

Detailed core examination of samples was completed following industry standards for core descriptions. Logging criteria included geotechnical and structural parameters (RQD, structure types and infill, planarity, roughness, hardness and angle to core axis), lithologic qualifiers (lithofacies, mineralogical composition, and cementation) and acid reactivity for calcium carbonate.

On-site core-slab sampling program was performed by RESPEC geologists with a 5% quality control insertion rate using Certified Reference Materials:

2 pulp types of known Lithium content and 2 (pulp and coarse) blanks.

Sample selection was completed on every 5-foot depth increment and accounts for notable stratigraphic variations.

The program also includes random core-slab sample duplicates from every drill hole in the study area. Once coarse and pulp rejects are returned from ALS Geochemistry, located in Reno, NV, a small percentage will be sent to a check lab.

Core photography and database management of all sampled intervals and core boxes were performed by RESPEC's field personnel.

Samples were transported to ALS Geochemistry located in Reno, NV by RESPEC field personnel. ALS Geochemistry is independent of the Company.

Chain of custody and sample assaying tracking/controls were kept throughout the entire program.

ALS Geochemistry performed ME-MS61 multi-element analyses by four acid digestion and ICP-MS on all lithium-bearing claystone samples.

Bulk Density testing using the wax immersion method was performed by RESPEC personnel on representative lithological samples encountered in the subsurface.

Qualified Person

The technical content of this news release has been reviewed and approved by Tabetha Stirrett, P.Geo, who is a Qualified Person as defined by NI 43-101.

About Pan American Energy Corp.

Pan American Energy Corp. (CSE: PNRG) (OTC PINK: PAANF) (FSE: SS60) 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% interest in the drill-ready Big Mack Lithium Project, 80 km north of Kenora, Ontario. The Company has also entered a property option agreement with Horizon Lithium LLC providing for the right to acquire a 100% interest in the Horizon Lithium Project, located within Esmeralda County - Tonopah Lithium Belt, Nevada, USA.

We seek Safe Harbor.