Mr. Jason Latkowcer reports

PAN AMERICAN ENERGY PARTNERS WITH THE UNIVERSITY OF NEVADA, RENO FOR COMPREHENSIVE METALLURGICAL TESTING AND RESEARCH

Pan American Energy Corp. has partnered with the University of Nevada, Reno (UNR), for comprehensive metallurgical testing on sedimentary and hard-rock samples provided by the company.

The Company will provide lithium-bearing core samples to the Sustainable Mining Laboratory at UNR from the Big Mack Lithium Project ("Big Mack"), located approximately 80 km north of the town of Kenora, Ontario, and the Horizon Lithium Project ("Horizon"), located in the Big Smoky Valley, Esmeralda County, Nevada. The Company expects to use the findings generated from the comprehensive metallurgical testing completed by UNR in the development of the previously announced Preliminary Economic Assessment for the Horizon Project, and further expects that the findings may be utilized in the future by the Company as part of the development of a Preliminary Economic Assessment for the Big Mack Project, when and if undertaken by the Company.

Jason Latkowcer, Chief Executive Officer, commented, "We are thrilled to announce our partnership with the esteemed University of Nevada, Reno, which is world renowned for its lithium expertise. UNR has worked and continues to work with some of the largest lithium companies in the United States including Lithium Americas, Ioneer, and American Battery Technology - to name a few. This partnership marks a significant stride towards the development of a preliminary economical assessment at the Horizon Lithium Project. We will also benefit from UNR's expertise in testing core samples from the Big Mack Lithium Project. We are proud to be a part of the UNR research "Wolf Pack". Together, we will strive to &shape the future of lithium innovation."

The metallurgical testing and mineral processing procedure project is divided into distinct phases:

Phase 1: Sample Receipt and Preparation: Physical Properties Assessment - including conducting particle size analysis, determining sample density and undertaking meticulous sample preparation protocols.

Phase 2: Head Analyses - including analyzing samples for lithium, boron, magnesium, calcium, sodium and a series of individual elements through the ICP method.

Phase 3: Leach Extraction Testing - including sulfuric acid leach shake tests to determine the preliminary leaching characteristics of the sample at ambient temperature.

Phase 4: Lithium Recovery From Solution - using experimental methods to remove impurities and increase lithium concentrations with the aim of producing lithium carbonate.

Phase 5: Exploring Potential By-Products - investigating the possibility of extracting other elements if present in notable qualities.

Phase 6: Proposed Flowsheet Development - proposing an initial flowsheet outlining material flow rates across different sections of this process, which is expected to undergo modifications based on ongoing testing and optimization.

The study is being led by Ehsan Vahidi, Assistant Professor, John N. Butler Endowed Professor in Extractive Metallurgy, Department of Mining and Metallurgical Engineering, Mackay School of Earth Sciences and Engineering, University of Nevada, Reno.

The project period under the agreement is intended to commence immediately and continue for approximately one year.

For more information regarding the University of Nevada, Reno, please visit: https://www.unr.edu/mining.

Qualified Person

The technical content of this news release has been reviewed and approved by Jared Suchan, Ph.D., P.Geo., who is an independent consultant of the Company, and a "Qualified Person" as defined by NI 43-101.

About Pan American Energy Corp.

Pan American Energy Corp. (CSE: PNRG) (OTCQB: 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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