Mr. Joseph van den Elsen reports

PAMPA METALS CLOSES FINAL TRANCHE OF $3.55M PRIVATE PLACEMENT

Pampa Metals Corp. has issued a final tranche of 555,556 units under the fully subscribed private placement detailed in a June 26, 2024, news release. A total of 13,136,847 units at a price of 27 cents per unit have now been issued for total gross proceeds of $3,546,949. Each unit consists of one fully paid common share and a half purchase warrant. Each whole warrant shall entitle the holder to acquire an additional common share at a price of 50 cents for a period of three years after the closing of the private placement.

A Form 62-103F3 required disclosure by an eligible institutional investor has been filed on SEDAR in connection with the private placement.

Proceeds will finance continuing exploration at the Piuquenes copper-gold porphyry project, where the company recently reported results from the third drill hole of its maiden program (refer May 23, 2024, news release), including:

• 801 metres (m) at 0.40 per cent copper (Cu), 0.51 gram per tonne (g/t) gold (Au), 2.87 g/t silver (Ag) (from 54 to 855 m (EOH)), including:
  • 518 m at 0.53 per cent Cu, 0.73 g/t Au, 3.45 g/t Ag (from 192 to 710 m);
  • 176 m at 0.71 per cent Cu, 0.74 g/t Au, 4.86 g/t Ag (from 192 to 368 m);
  • 64 m at 0.75 per cent, 1.2 g/t Au, 4.60 g/t Ag (554 to 618 m);
  • 32 m at 0.64 per cent Cu, 0.71 g/t Au, 4.54 g/t Ag (642 to 674 m).

In connection with the private placement, the company paid aggregate finder's fees of $176,580 and issued 654,000 finder's warrants.

Any securities issued in connection with the private placement are subject to a four-month hold period, in accordance with securities laws and the policies of the Canadian Securities Exchange.

About Pampa Metals Corp.

Pampa Metals is a copper-gold exploration company.

We seek Safe Harbor.