Mr. Jason Latkowcer reports

PAN AMERICAN ENERGY'S COLLABORATION WITH THE UNIVERSITY OF REGINA RECEIVES FEDERAL NSERC ALLIANCE - MITACS GRANT FUNDING TOTALLING $610,000

Pan American Energy Corp.'s collaborative research project, entitled "Geomicrobiology for Detecting Rare Metal Deposits," has been awarded $610,000 by an alliance advantage grant from the Natural Sciences and Engineering Research Council of Canada (NSERC) combined with Mitacs Accelerate funding. The research project is part of a collaboration between industry and academia, including Pan American, Integral Metals Corp., and the Institute for Microbial Systems and Society (IMSS) at the University of Regina (U of R).

On June 21, 2024, Pan American announced the completion of the spring 2024 field prospecting and sampling program at the Big Mack lithium project, located 80 kilometres (km) north of the town of Kenora, Ont. The program was led by Dr. Jared Suchan, PGeo (a technical consultant to the company), and Dr. Andrew Cameron (IMSS/U of R). Eight students specializing in geosciences and biology from the U of R recorded field data across the project area, documented site observations, tested groundwater chemistry and collected an array of samples, including soil, rocks and vegetation. Pan American intends to utilize the data collected and geomicrobiology to help generate, improve and refine exploratory drill targets at the Big Mack. The grant funding helps to offset a significant amount of the costs to conduct the research, including costs associated with field sampling at, and assaying the samples from, the project.

"We are thrilled that our collaborative research project on geomicrobiology has received this substantial grant from NSERC and Mitacs," said Jason Latkowcer, chief executive officer of Pan American. "This none-dilutive funding significantly offsets the costs associated with our field exploration and laboratory testing for geomicrobiology, providing immense value to the company and its research partners. By integrating geomicrobiology with our existing geochemical and geophysical data, we hope to enhance our understanding of the mineralization at Big Mack and refine our exploratory drill targets with the aim of extending the extent of known mineralization at the project. I would like to personally congratulate Dr. Cameron, Dr. Suchan and the entire team involved in this research."

Qualified person

The technical content of this news release has been reviewed and approved by Dr. Suchan, PhD, PGeo, who is an independent consultant of the company, and a qualified person as defined by National Instrument 43-101.

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.

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