Mr. Joseph van den Elsen reports

WARRANT EXERCISE PRICE REDUCTION

Pampa Metals Corp. has reduced the exercise price of a total of 5,857,734 warrants, on a postconsolidated basis, issued in connection with its March, 2023, private placement. As detailed in the company's Aug. 10, 2023, news release, the 2023 warrants had a preconsolidation exercise price of 21 cents, which has now been reduced to 10.5 cents, on a postconsolidated basis.

The 2023 warrants are subject to an accelerated exercise period of 30 days from the date the closing price of the company's listed shares exceeds 13 cents for 10 consecutive trading days. Any 2023 warrants which remain unexercised at the end of the accelerated exercise period will expire at that time.

About Pampa Metals Corp.

Pampa Metals is listed on the Canadian Securities Exchange, Frankfurt and OTC exchanges, 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.