Mr. Joseph van den Elsen reports

PAMPA METALS ANNOUNCES ACCELERATION OF WARRANT EXPIRY DATE

Pampa Metals Corp. has accelerated the expiry dates of certain share purchase warrants issued on Nov. 10, 2022, and March 2, 2023, and has reduced the exercise price to 9.5 cents and 10.5 cents in September and October, 2023, respectively.

In accordance with the policies of the Canadian Stock Exchange ("CSE") the expiry date of the warrants is accelerated if the Company's common shares close at or above $0.125 in the case of the 2022 Warrants and $0.13 in the case of the 2023 Warrants, for a period of at least 10 consecutive trading days in each case. This condition was met on December 14, 2023.

As a result, the expiry date of the 2022 Warrants and the 2023 Warrants outstanding (totaling 4,653,140) has been accelerated to January 23, 2024. To date, an aggregate of 2,913,186 of the 2022 Warrants and 2023 Warrants have been exercised for gross proceeds of approximately $295,000.

In order to exercise the warrants, holders of the 2022 Warrants and 2023 Warrants must complete and submit a Notice of Exercise in the form attached to your warrant certificate on or before 4pm Vancouver time on January 23, 2024. Unexercised 2022 Warrants and 2023 Warrants will expire after that time.

ON BEHALF OF THE BOARD Joseph van den Elsen | President & CEO

INVESTORS CONTACTJoseph van den Elsen | President & CEOJoseph@pampametals.com +1 604 347 8777

ABOUT PAMPA METALS

Pampa Metals is listed on the Canadian Stock Exchange (CSE:PM), Frankfurt (FSE: FIR), and OTC (OTCQB: PMMCF) 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.

In November 2023, the Company announced it had entered into an Option & JV Agreement for the acquisition of an 80% interest in the Piuquenes Copper-Gold Porphyry Project in San Juan Province, Argentina.