Pan American Energy Corp. announced assay results from the first diamond drill hole of the 2023 program on the Big Mack Lithium Project, located approximately 80 kilometers north of the town of Kenora, ON. The drilling campaign is being carried out by Fullforce Diamond Drilling Ltd. under the geological guidance of Axiom Exploration Group Ltd. Drill hole BM23-001 was testing the interior section of the Big Mack Pegmatite and returned assay values of 1.13% Li2O over 27.98 m. (Table 1), confirming previous exploration conducted on the Big Mack Pegmatite which indicated that concentrations of lithium mineralization were present in this area.

The Company plans to drill approximately 5,000 meters as part of the current exploration program, which is designed to delineate the Big Mack and Elven Zone Pegmatites, test the down dip extensions of these pegmatites and explore the Sprinkler Zone and other exploration targets identified from the geophysics and surface sampling program undertaken by the Company in the summer of 2023. Over 3,300 meters across 28 collar locations having been drilled to date, with 601 samples having been submitted for analysis at the time of this news release. A thorough chain-of-custody and QA/QC program is being carried out on the ongoing 2023 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.