Mr. Jason Latkowcer reports

PAN AMERICAN ENERGY CORP ANNOUNCES RESULTS OF LITHIUM-BEARING EXPLORATION DRILLING PROGRAM AT THE HORIZON LITHIUM PROJECT

Pan American Energy Corp. has completed and released assay results for its exploratory subsurface drill program, phase 1 and 2, at its Horizon lithium project in the Big Smoky Valley, Esmeralda county, Nevada. This exploratory drilling program consisted of twenty-one (21) targeted diamond core drill holes on Pan American's 17,334 acres of lithium-bearing claims and resulted in the discovery of significant lithium mineralization on the project. The program was designed based on extensive geological research conducted by the Company's contractor partner, RESPEC LLC ("RESPEC"). A total of 2,306 Project assays were processed by ALS Geochemistry ("ALS"), located in Reno, NV.

Highlights from the Phase 1 and 2 drilling program include:

Lithium Concentrations: Using a 900 ppm cut-off weighted lithium grade, eight (8) drill holes ranged from 902 ppm to 1033 ppm with a total cumulative thickness of 2,426 feet (Table 1). The highest measured assay value was 2,040 ppm (HL008) at a depth of 394 ft. Sixteen (16) drill holes produced an average weighted lithium grade above 300 ppm with a total cumulative thickness of 7,390 ft (Table 2). Higher-grade drill holes are particularly attractive for recovery using known extraction technologies.

Shallow Overburden: Anomalous lithium concentrations were measured at shallow depth, with as little as 15.5 ft (HL030) overburden. The alluvium cover on the property is comparable to industry peers with a similar range of depths indicating that low-cost and low-strip ratio techniques can potentially be applied.

Depth of Mineralization: Drill holes were advanced as far as 1,000 ft of depth confirming lithium mineralization extends to a significant range. Also, the drill results show that lithium-bearing claystone at Horizon is extensive and several meters thick. The basal bedrock of the Siebert Formation was not encountered, allowing for further exploration at depth.

Deposit Significance: The Horizon Lithium Project sits immediately adjacent to American Battery Technology's ("ABTC") Tonopah Flats project, one of the largest known lithium claystone projects in the United States at 15.8 million tonnes of inferred lithium. Pan American's team believes the Horizon Lithium Project has the potential to further expand on the total resource magnitude in the Big Smoky Valley, Nevada and is aiming to classify the deposit as an inferred, indicated, and measured using appropriate modifying factors as defined by CIM Definition Standards.

Future Plans: Pan American will work with RESPEC to use the results from the Phase 1 and 2 programs to develop a MRE. With less than one-third of the Project currently explored, the Company will develop a step-out drill program to further characterize the deposit including grade and thickness assessment and resource estimation. The Company intends to progress to a feasibility study and environmental assessment in subsequent phases of Project development.

The drilling equipment employed in the Phase 1 and 2 program drilled up to a maximum depth of 1,000 feet on multiple drill holes (HL24 - HL 26). In several drill holes, significant lithium was present at final depths, and bedrock was not encountered. This suggests that anomalous lithium concentrations could be present at depths greater than 1000 ft, creating a compelling pathway for a Phase 3 program. The Company is actively evaluating future exploration potential both at depth and in the untapped west-northwest and southern portion of the property to further delineate the size, quality, and economic viability of the lithium-bearing resource. Pan American will also explore metallurgy testing and strategic partners for production testing and processing.

"The results from our exploratory drill program have uncovered widespread mineralization with thick lithium intercepts and at comparable grades and depths to industry peers in the Big Smoky Valley," states Pan American's Chief Executive Officer Jason Latkowcer. "We are now poised to expand and step-out our drilling, sampling, mapping, geochemical, and analysis efforts, all aimed at comprehensively defining and quantifying this invaluable North American resource. Localized lithium deposits in the United States are pivotal in addressing both our domestic and global challenges concerning critical battery metals. We are strategically planning to further extend our drilling program to refine our targeting and deepen our understanding of this area."

Core Handling and Sampling Procedures:

Core handling and sampling procedures are as follows:

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

Detailed core examination of the samples was completed using industry standards for core descriptions by RESPEC geologists. Logging criteria include 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 the RESPEC geologists with a 5% Quality Control insertion rate using Certified Reference Materials (2 pulp types of known Lithium content and 2 separate pulp blanks). Sample selection was completed on every 5-foot depth increments and accounts for notable lithological 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.

Chain of custody and sample assaying tracking/controls were kept throughout the entire program. ALS Geochemistry is independent of the Company.

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

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.

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