Mr. Joseph van den Elsen reports

PAMPA METALS CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Pampa Metals Corp. has issued 2,399,999 units at a price of 15 cents per unit under the non-brokered private placement offering detailed in a March 21, 2023, news release for gross proceeds of $360,000.

Each unit consists of one fully paid common share and one purchase warrant entitling the holder to acquire an additional common share at a price of 21 cents for a period of three years after the closing of the offering.

In connection with the offering, the company paid total cash commissions of $1,750 and issued 324,333 finders' warrants and 156,333 finders' shares. Each finder's warrant is exercisable into a common share of the company at an exercise price of 21 cents for a period of three years from the date of closing of the offering.

Proceeds will be directed toward the recently mobilized/commenced drill testing of the Buenavista target and the Block 4 project more broadly, where an initial approximate 2,100-metre diamond drill program has been designed to test coincident geological, geochemical and geophysical anomalies.

About Pampa Metals Corp.

Pampa Metals is a Canadian company listed on the Canadian Stock Exchange, Frankfurt Stock Exchange and the OTCQB that wholly owns a 47,400-hectare portfolio of seven projects highly prospective for copper, molybdenum and gold located along proven and highly productive mineral belts in Chile, one of the world's top mining jurisdictions. The company is actively advancing its projects through systematic exploration and drill testing of the highest-priority targets, with a current focus on the Buenavista target and the Block 4 project more broadly.

The company's vision is to create significant value for shareholders and stakeholders through the application of its technical and commercial expertise toward exploring for a major copper discovery along the prime mineral belts of Chile.

We seek Safe Harbor.