Pan American Silver Corp. has temporarily suspended all operating activities at its La Colorada mine in Mexico due to security concerns at the mine site and the surrounding area. In the early hours of October 5, 2023, the operation experienced an armed robbery of two trailers of concentrate.

There were no physical injuries to personnel in connection with the incident. In response to the current security situation in the area and Pan American?s priority to protect the safety and security of personnel, Pan American has temporarily suspended operations, project work and exploration at La Colorada. The mine site is currently secure, and Pan American has activated care and maintenance activities while it works with state and federal authorities regarding this incident.

The suspension will continue until Pan American determines it is appropriate to resume operations. Pan American will provide an update on the situation as more information becomes available.