Mr. Adrian Lamoureux reports

PAN AMERICAN ENERGY SELECTS KEY CONTRACTORS TO SUPPORT PLANNED WINTER DRILL PROGRAM AT THE THARSIS projeCT, NORTHWEST TERRITORIES

Pan American Energy Corp. has selected the primary contractors to support execution of the company's winter field operations.

Critical Discoveries has been engaged to provide the drill equipment and crew for the planned diamond drill program, Heli-Fix has been engaged to provide fixed-wing aircraft and helicopter support for mobilization and field logistics, and Discovery Mining Services has been engaged to provide camp services and expediting support.

The Tharsis project covers the Squalus Lake alkaline complex (SLAC), a Proterozoic, multiphase alkaline intrusive complex where exploration to date has focused on evaluating carbonatite-related exploration targets for rare earth elements (REE) and niobium (Nb). The project has been advanced through geological mapping, high-resolution unmanned aerial vehicle magnetic surveying (UAV magnetics) and sampling programs, together with refinement of the project-scale exploration model. The planned winter drill program is intended to provide the first direct subsurface test of a principal intrusive centre interpreted from geophysics, and to evaluate whether magnetic signatures correlate with carbonatite bodies and potential associated REE and Nb mineralization at depth.

"With our contractors in place, the company is on track to begin the phase 1 drill program at Tharsis," said Adrian Lamoureux, chief executive officer of Pan American Energy. "This marks an exciting step forward as we move from surface work into drilling and begin testing the broader potential of the project."

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The scientific and technical content of this news release has been reviewed, verified and approved by Jared Suchan, PhD, PGeo, technical adviser to the company and a "qualified person" as defined by National Instrument 43-101.

For a discussion of the company's quality assurance/quality control (QA/QC) and data verification procedures and processes, please see its most recently filed technical report under the company's profile at SEDAR+.

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 and critical 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., with the right to earn an additional 15 per cent for a total 90-per-cent interest, in addition to other projects.

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