Pan American Energy Corp. announced additional assay results on 14 holes from the ongoing 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. (?Axiom?).

Drill hole BM23-009 to BM23-015 were drilled to test the western flank of the Big Mack pegmatite, while BM23-016 to BM23-022 were drilled to test the Eleven Zone pegmatite. Big Mack targets BM23-010 and BM23-011 returned encouraging values of 1.23% Li2O over 22.60 m and 1.67% Li2O over 22.85 m respectively, while BM23-0014 returned 1.51% over 16.60 m. Eleven Zone targets BM23-017 and BM23-021 intercepted 1.50% Li2O over 14.53 m and 1.32% Li2O over 22.20 m respectively. These results indicate that meaningful mineralization may continue at depth through the western zone of the pegmatite, and provide valuable insights into mapping of the internal structure for Big Mack and Eleven Zone.

Phase one of the 2023/2024 drilling program was completed in late-2023, when the Company drilled 35 holes (including one abandoned hole), to a total meterage of 4,582 meters. Targeting is 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 plans to drill approximately 5,000 meters to delineate the Big Mack and Eleven Zone pegmatites, test their down-dip extensions, explore the Sprinkler Zone, and test other exploration targets.

To-date, over 6,800 meters have been drilled across 50 collar locations as part of the 2023/2024 drill program, with 2,317 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 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. Sample analyses are being conducted by ALS Canada LTD (ALS), an independent lab.

Samples are shipped to the Winnipeg, Manitoba prep lab, and then shipped by ALS to the geochemistry analysis lab in North Vancouver, British Columbia. Drill core samples are subject to sodium peroxide fusion analyses using ICP-MS for Trace element values on total digestion and ICP-AES on samples with values greater than 25,000 ppm Li.