Pan American Energy Corp. announce additional assay results on 15 holes from the 2023/2024 diamond drill program on the Big Mack Lithium Project (?Property?), located approximately 80 kilometers north of the town of Kenora, ON. The drilling campaign was carried out by Full force Diamond Drilling Ltd. (?Full Force?) under the geological guidance of Axiom Exploration Group Ltd. (?Axiom?).

This phase of drilling focused on areas of the Property with indications for mineralization but no historic drilling testing. Targets were identified using 2023 geochemical surface sampling results and, UAV detailed magnetic survey results, and also were designed to test prospective areas extending along strike and down dip of previously identified mineralization. Exploration drilling has encountered high grade lithium mineralization in drill holes targeting below the 6059 Pegmatite and exploration drill holes to the southeast of the Sprinkler Zone.

Highlights: 1.29% Li2O over 16.6 meters (BM24-039) including 3.61% Li2O over 0.57 meters below the western flank of the 6059 Pegmatite. 2.28% Li2O over 3.0 meters within a 22.26-meter interval of 0.68 % Li2O (BM24-045) intersected approximately 110 m east of the main 6059/Sprinkler zone. 1.03% Li2O over 0.98 meters (BM24-046) was encountered at depth below drill hole BM24-045.

Mineralization remains open at depth and along strike to the southeast of the Sprinkler Zone. Anomalous tin values up to 5520 ppm were intersected in exploration drill holes along strike of the Eleven Zone and Big Mack Pegmatite indicating the potential for mineralization to the west of the known showings. Drill hole BM23-032 to BM23-034 were drilled to the south and west of the Big Mack Pegmatite and Eleven zone, testing high priority exploration targets that coincided with magnetic lows and elevated geochemical samples from the summer 2023 prospecting program.

BM24-035 to BM24-046 were testing the 6059/Sprinkler zone. BM24-039, BM23-040, BM23-045, and BM23-046 returned encouraging lithium results, as holes BM24-039 and BM24-040 indicate that surface exposed lithium mineralization does continue at depth. Additionally, follow-up drilling in the vicinity of surface samples elevated in Sn-Ta have proved encouraging.

Table 1 highlights the lithium, tantalum, and tin values within holes BM23-032 to BM24-046, and Table 2 describes the attributes associated with these drill holes. Phase One of the 2023/2024 drilling program was completed in late-2023, when the Company drilled 35 holes (including one abandoned hole), for a total meterage of 4,599 meters. Targeting was based upon historical drilling analyses, the UAV magnetic survey conducted on the Property and the Company?s 2023 field prospecting program.

In this second phase of the program, the Company drilled 3720.24 meters to delineate the Big Mack and Eleven Zone pegmatites, test their down-dip extensions, explore the Sprinkler Zone and test other exploration targets. 8319.24 meters were drilled across 59 collar locations as part of the 2023/2024 drill program, with 4,693 samples having been submitted for analysis. Visual core logging indicates that the predominant host mineral for the Big Mack pegmatites is petalite.

The true width of these pegmatites reported in this release has not yet been determined. thorough chain-of-custody and QA/QC program is being carried out on the ongoing drill program. Samples are taken across all pegmatite intervals with shoulder samples into the host rock on either side of the dykes.

Sample lengths are ranging from 0.3 m ? 1.5 m, dependant on internal zoning of the dykes, mineralization, and lithology contacts. Core to be sampled is cut in half onsite, with half being sent for analysis and the other half remaining in the box for future reference and re-sampling, if needed.

A malfunction of downhole location survey equipment could cause inaccurate dip and azimuth tracking due to drillhole deviation, which would affect the planned drillhole spacing and required density for the resource estimation. To ensure accuracy, downhole surveys are performed every 30 meters of drilling, with survey tests repeated in the event of results that are outside planned drillhole drift. Additional downhole survey tools are kept on-site in the event of malfunction during drilling.

The Company?s implemented QA/QC procedures include the insertion of certified standard control samples, ¼ cut duplicates, and blanks. This is being used to test for natural variability /sampling bias /testing the lab for homogeneity during sample preparation processes within the lab, as well as testing the precision and any possible contamination from the lab and ensure proper calibration of lab equipment.