Pan American Energy Corp. announce additional assay results on seven holes from the first phase of 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 is being carried out by Full Force Diamond Drilling Ltd. (?Full Force?) under the geological guidance of Axiom Exploration Group Ltd. Drill hole BM23-002 and BM23-005 were drilled to test the interior of the Big Mack Pegmatite, while BM23-003, -004, -006, -007, and -008 were drilled to test the eastern and western flanks of the Big Mack Pegmatite.

BM23-002, and BM23-005 returned encouraging values of 1.49% Li2O over 32.34 m and 1.55% Li2O over 18.35 m respectively, while BM23-003 returned 0.76% over 3.0 m. These results indicate that meaningful mineralization continues at depth through the interior zone of the pegmatite, and provide valuable insights into mapping of the internal structure. As part of the phase one drilling program, the Company drilled 35 holes (including one abandoned hole), for a total meterage of 4,582 meters. The phase one drilling program focused on targets that were identified through historical drilling analyses, the UAV magnetic survey conducted on the Property and the Company?s 2023 field prospecting program.

The Company plans to drill approximately 5,000 meters as part of the second phase of the drilling program. Phase two of the drilling program is designed to delineate the Big Mack and Eleven Zone Pegmatites, test their down-dip extensions, explore the Sprinkler Zone, and test other exploration targets identified from the geophysics and surface sampling program undertaken by the Company in the summer of 2023. Over 5,100 meters across 38 collar locations have been drilled to date (as part of both phases of the 2023/2024 drill program), with 1,817 samples having been submitted for analysis at the time of this news release.