Mr. Paul Gorman reports

PAN AMERICAN ENERGY CORP. ANNOUNCES PRIVATE PLACEMENT FOR UP TO C$1,000,000 AND INTENDED DEBT SETTLEMENT

Pan American Energy Corp. has arranged a non-brokered private placement for gross proceeds of up to $1-million. The company intends to settle $209,282.88 of debt through the issuance of 2,616,036 units of the company (as defined herein).

Pursuant to the offering, the company is offering up to 12.5 million units of the company at a price of eight cents per unit, with each unit comprising one share and one share purchase warrant of the company entitling the holder to acquire one share at a price of 12 cents per warrant share for a period of 24 months from the date of issuance. The company intends to use the net proceeds raised from the offering for general working capital.

In connection with the offering, the company also intends to settle outstanding debts in an amount of $209,282.88 owed to certain consultants of the company through the issuance of 2,616,036 units (representing a deemed price of eight cents per unit).

All securities issued in the offering and pursuant to the debt settlement will be subject to a statutory four-month-and-one-day hold period. The closing of the offering and the closing of the debt settlement are subject to certain customary conditions precedent, including the company's receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange. The offering and the debt settlement are expected to close on or about Dec. 31, 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 has executed an option agreement in Canada with Magabra Resources, pursuant to which it has acquired a 75-per-cent interest in the Big Mack lithium project, 80 kilometres north of Kenora, Ont. The company can earn an additional 15-per-cent interest in Big Mack, for a total 90-per-cent interest.

We seek Safe Harbor.