Mr. Jason Latkowcer reports

PAN AMERICAN ANNOUNCES PRIVATE PLACEMENT FOR UP TO C$3.5M

Pan American Energy Corp. has arranged a non-brokered private placement for gross proceeds of up to $3.5-million. The offering is expected to consist of the offering of up to 8.75 million units of the company at a price of 40 cents per unit, with each unit composed of one common share of the company and one share purchase warrant of the company, entitling the holder to acquire one share at a price of 55 cents per warrant share for a period of 24 months.

The company intends to use the net proceeds raised from the offering for general and administrative expenditures, investor awareness and promotional expenditures, and general working capital purposes. All securities issued in the offering will be subject to a statutory four-month-and-one-day hold period. Closing of the offering is subject to the company's receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange. The offering is expected to close on or about Nov. 7, 2023.

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.