Mr. Adrian Lamoureaux reports

PAN AMERICAN ENERGY CLOSES PRIVATE PLACEMENTS FOR GROSS PROCEEDS OF APPROXIMATELY $1.02M

Pan American Energy Corp. has closed its previously announced non-brokered private placement financing of 4.35 million common shares in the capital of the company at a price of 18 cents per common share for aggregate gross proceeds of $783,000 and the concurrent non-brokered private placement financing of 4.85 million common share purchase warrants at a price of five cents per warrant for aggregate proceeds of $242,500. Each warrant issued pursuant to the warrant private placement entitles the holder thereof to purchase a common share in the capital of the company at an exercise price of 18 cents until March 19, 2027.

The net proceeds of the private placements are intended to be used for exploration activities at the company's Big Mack property, for general administrative expenditures and for general working capital purposes.

In accordance with National Instrument 45-106 (Prospectus Exemptions), the common shares issued under the common share private placement were offered for sale to purchasers resident in all of the provinces of Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A.2 of NI 45-106. Because the common share private placement was completed pursuant to the LIFE exemption, the common shares issued to subscribers in the common share private placement are not subject to resale restrictions in accordance with applicable Canadian securities laws. The warrants issued pursuant to the warrant private placement (and, to the extent that any warrants are exercised before July 19, 2025, any common shares issued upon the exercise of such warrants) will be subject to a hold period until July 19, 2025, pursuant to applicable Canadian securities laws.

There is an offering document dated Feb. 4, 2025 (as amended on Feb. 24, 2025) related to the common share private placement that can be viewed under the company's profile at SEDAR+ and on the company's website. This offering document contains additional detail regarding the common share private placement, including additional detail regarding the expected use of proceeds from the private placements.

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 of 90-per-cent interest.

We seek Safe Harbor.