Pan American Energy Drills for Lithium in Kenora

Pan American Energy Corp. (Pan American or the Company) has officially begun drilling at its Big Mack Lithium Project, situated around 80 km north of Kenora, ON. The exploration initiative is being executed by Fullforce Diamond Drilling Ltd., (Full Force) with geological support provided by Axiom Exploration Group Ltd. (Axiom). The Company intends to drill approximately 5,000 m as part of its exploration program.

Pan American's first Drill Program will concentrate on specific targets pinpointed through an analysis of historical drilling, a UAV magnetic survey, and the Summer 2023 field prospecting program. The primary aim of the drill program is to assess and quantify the presence and extent of mineralization on the Property, marking a crucial step in advancing the project further.

Project Highlights:

• A significant discovery of over 20 pegmatites has been made across the Property, with three priority targets—Big Mack Pegmatite, Eleven Zone, and 6059 Pegmatite—identified for emphasis in the upcoming exploration program.
• Notably, the Property is situated adjacent to Avalon Advanced Material Corp.'s flagship Separation Rapids joint venture project, the Big Whopper. This neighboring project boasts an estimated measured and indicated mineral resource of 0.8 million tons, averaging a grade of 1.35% Lithium Oxide (Li₂O).
• Pan American Energy Corp. has conducted a comprehensive exploration, including a magnetic survey, LiDAR survey, and prospecting program. This effort has resulted in the identification of multiple high-priority drilling targets, which will be the focal points of the planned program.
• Previous surface samples obtained from the Property have demonstrated significant lithium oxide content, with grades reaching up to 3.21% Li₂O. Notably, samples from the Eleven, Big Mack, and 6059 pegmatites have shown values exceeding 1.00% Li₂O, accompanied by the presence of visible petalite on the surface.
• Situated approximately 80 km North of Kenora, ON, the Property is easily accessible by road.

After extensive planning and work to get to this point, we are proud to announce the commencement of our exploration drilling program. The Big Mack Lithium Project hasn’t been drilled in over 20 years and we are progressing extremely well through the first days of drilling.

Jason Latkowcer, Chief Executive Officer, Pan American Energy Corp.

Jason Latkowcer adds, “The Separation Rapids area where the Big Mack Property is located has recently gained increased notoriety after SCR-Sibelco NV, a global leader in materials solutions, announced a C$63M strategic investment in our neighbors, Avalon Advanced Materials, to create a vertically integrated lithium strategic partnership in Ontario, Canada. We are in the right place to support the made-in-Ontario critical mineral supply chain. I’d like to wish a safe and successful program to our invaluable partners who are helping to make it happen.”