Pan American Energy Corp. announced additional assay results on nine holes from the ongoing 2023/2024 diamond drill 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 Full Force Diamond Drilling Ltd. under the geological guidance of Axiom Exploration Group Ltd. Drill holes BM23-023 to BM23-027 were drilled to test along the Big Mack pegmatite at depth, while BM23-028 to BM23-031 were drilled as exploration holes to test magnetic anomalies to the north and southwest of the Big Mack pegmatite.

Big Mack targets BM23-024, BM23-025 and BM23-026 returned encouraging values of 0.99% Li2O over 7.90 m, 1.55% Li2O over 16.0 m and 1.16% Li2O over 8.9 m respectively. These results indicate that mineralization is likely to continue at depth through the central zone of the Big Mack pegmatite and could potentially increase with depth as observed in hole BM23-024. These results provide valuable insight into mapping the internal structure of the Big Mack pegmatite.

Table 1 highlights the assay result details on holes BM23-023 to BM23-031, 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 4,582 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, there has been over 7,800 meters drilled across 56 collar locations as part of the 2023/2024 drill program, with 3,317 samples having been submitted for analysis at the time of this news release. Holes BM23-023 to BM23-027 described in this news release targeting the Big Mack pegmatite were drilled broadly perpendicular and inclined to the pegmatite orientations so that the true thickness of reported intercepts is estimated to range somewhere between 50-80% of the drilled widths.

Holes BM23-028 to BM23-031 were exploration holes targeting magnetic anomalies identified from the UAV-borne magnetics survey completed in 2023 by EarthEx Geophysical Solutions Inc. A collar header table is provided below. Visual core logging indicates that the predominant host mineral for the Big Mack pegmatites is petalite.