Mr. Jason Latkowcer reports

PAN AMERICAN CLOSES FLOW-THROUGH PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$1.86M

Pan American Energy Corp. has closed its previously announced non-brokered private placement of flow-through units of the company for gross proceeds to the company of $1.86-million.

Pursuant to the offering, the company issued 3.72 million flow-through units of the company at a price of 50 cents per unit, with each flow-through unit comprising one flow-through common share and one non-flow-through common share purchase warrant of the company entitling the holder to acquire one non-flow-through common share at a price of 65 cents until Dec. 13, 2025. The flow-through shares issued under the offering are intended to qualify as flow-through shares within the meaning of the Income Tax Act (Canada).

The gross proceeds raised from the offering are expected to be used by the company to incur eligible Canadian exploration expenses that are intended to qualify as flow-through critical-mineral mining expenditures, as such terms are defined in the tax act, related to the company's Big Mack lithium project. All securities issued in connection with the closing of the offering are subject to a statutory hold period, in accordance with applicable securities laws, expiring on April 14, 2024.

In connection with the offering, the company paid cash finders' fees totalling $130,200 and issued 260,400 finders' warrants entitling the holder(s) thereof to acquire one non-flow-through common share at an exercise price of 65 cents until Dec. 13, 2025.

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.