Mr. Jason Latkowcer reports

PAN AMERICAN CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT FOR TOTAL PROCEEDS OF C$2,595,000

Pan American Energy Corp. has closed the first tranche of its previously announced non-brokered private placement for gross proceeds to the company of $2,595,000. The company hopes to close the final tranche of the offering, for gross proceeds of up to $905,000, as soon as practicable.

Pursuant to the first tranche, the company issued 6,487,500 units of the company at a price of 40 cents per unit for aggregate gross proceeds of $2,595,000, with each unit comprising 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 until Nov. 10, 2025.

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 connection with the closing of the first tranche are subject to a statutory hold period, in accordance with applicable securities laws, expiring on March 11, 2024.

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.