Mr. Joseph van den Elsen reports

PAMPA METALS' THIRD HOLE TO EXTEND STRONGLY MINERALIZED COPPER-GOLD PORPHYRY CORE AT PIUQUENES PROJECT, SAN JUAN, ARGENTINA

Pampa Metals Corp.'s diamond drill hole PIU-03 is making excellent progress toward its targeted downhole depth of 850 to 900 metres (m).

Hole PIU-03 is designed to extend copper-gold mineralization to depth on the northeast and southeast sides of the Piuquenes Central porphyry and to better delineate a newly identified core of strong chalcopyrite-bornite copper mineralization associated with intense porphyry quartz stockwork veining in hole PIU-02 (refer March 26 2024 News Release).

Hole PIU-03 was collared approximately 300m to the west of hole PIU-02 and drilled at an angle of 75degree on a 90degree azimuth. It is the third hole of a diamond core drill program designed to evaluate the Piuquenes Central porphyry copper-gold deposit from surface to approximately 1000 metres depth.Figure 1: PIU-03 Schematic East-West Cross Section Figure 2: Piuquenes Project - Drill Collar Plan View

Joseph van den Elsen, the Company's President and CEO, stated: "We are making excellent progress on the third hole of our maiden drill campaign at the Piuquenes Project and eagerly await the results from the second hole, where a wide interval of copper mineralization with a bornite rich core was logged (refer 26 March 2024 News Release). We look forward to building significant shareholder value over the short, medium, and long-term as we continue to test the depth and lateral extensions of open high-grade copper and gold mineralization at Piuquenes Central (422 m @ 0.48% Cu, 0.61 g/t Au, 2.9 g/t Ag (1.00% CuEq)* incl. 132 m @ 0.71% Cu, 0.85 g/t Au & 4.3 g/t Ag (1.45 % CuEq)* - refer 18 March, 2024 News Release), and thereafter testing a second outcropping porphyry at Piuquenes East and other high potential targets in our growing pipeline."Image 1: PIU-03 Drill Pad

ON BEHALF OF THE BOARD INVESTOR CONTACT

Joseph van den Elsen | President & CEO Joseph van den Elsen | Joseph@pampametals.com

ABOUT PAMPA METALS

Pampa Metals is a copper-gold exploration company listed on the Canadian Stock Exchange (CSE:PM), Frankfurt (FSE:FIR), and OTC (OTCQB:PMMCF) exchanges.

In November 2023, the Company announced it had entered into an Option and Joint Venture Agreement for the acquisition of an 80% interest in the Piuquenes Copper-Gold Porphyry Project in San Juan Province, Argentina. Reported intervals of significant copper and gold mineralization at Piuquenes Central include:

413.5 m@ 0.47% Cu, 0.52 g/t Au (0.87% CuEq)* (167-580.5 m);

422 m @ 0.48% Cu, 0.61 g/t Au, 2.9 g/t Ag (1.00% CuEq)* (198 - 620m);

including 132m @ 0.71% Cu, 0.85 g/t Au, 4.3 g/t Ag (1.45% CuEq)* (220 - 352m);

including 80m @ 0.6% Cu, 0.77 g/t Au, 3.2 g/t Ag (1.30% CuEq)* (468 - 548m)

558.2 m @ 0.38% Cu, 0.42 g/t Au, 2.4 g/t Ag (0.73% CuEq)* (362-920.2 m EOH)

including 130 m @ 0.81% Cu, 0.6 g/t Au, 4 g/t Ag (1.31 % CuEq)* (362-492 m)

Qualified Person

Technical information in this news release has been approved by Mario Orrego G. Mr. Orrego G. is a Geologist, a Registered Member of the Chilean Mining Commission and a Qualified Person as defined by National Instrument 43-101. Mr. Orrego G. is a consultant to the Company.

We seek Safe Harbor.