Mr. Joseph van den Elsen reports

WARRANT EXERCISE PRICE REDUCTION

Pampa Metals Corp. has obtained Canadian Securities Exchange approval of a reduction in the exercise price of a total of 1,708,588 warrants, on a postconsolidated basis, issued in connection with its November, 2022, private placement. As detailed in the company's Aug. 10, 2023, news release, the 2022 warrants had a preconsolidation exercise price of 19 cents, which has been reduced to 9.5 cents, on a postconsolidated basis.

In compliance with CSE policies, a maximum of 177,778 2022 warrants held by an insider have been repriced, and 69,185 2022 warrants will continue to have a preconsolidation exercise price of 19 cents (postconsolidation exercise price of 47.5 cents).

Approval of a reduction in the exercise price of 6,884,400 postconsolidated warrants issued in March, 2023, from 21 cents to 10.5 cents, on a postconsolidated basis, remains pending.

About Pampa Metals Corp.

Pampa Metals is listed on the Canadian Securities Exchange (PM), the Frankfurt Stock Exchange (FIRA) and the OTC (OTCQB: PMMCF), and wholly owns a portfolio of projects highly prospective for copper, molybdenum and gold along proven and highly productive mineral belts in Chile, the world's largest copper producer.

We seek Safe Harbor.