Mr. Joseph van den Elsen reports

PAMPA METALS ANNOUNCES PRIVATE PLACEMENT, EARLY WARRANT EXERCISE AND FURTHER STRENGTHENS TEAM

Pampa Metals Corp. has arranged a non-brokered private placement for gross proceeds of up to $3-million. The company has also appointed Dr. Stuart Smith as senior technical adviser and Jordan Webster as investor relations adviser. Chief executive officer Joseph van den Elsen, insiders and other supportive long-term shareholders have exercised warrants.

Private placement

The company has arranged a non-brokered private placement of up to 18.75 million units at a price of 16 cents per unit for gross proceeds of up to $3-million. Each unit will consist of one fully paid common share and one-half warrant. Each whole warrant shall entitle the holder to acquire an additional common share at a price of 30 cents for a period of three years after the closing of the placement.

Proceeds will finance continuing exploration at the Piuquenes copper-gold porphyry project, where the company recently intersected a second porphyry system (refer to Feb. 3, 2025, news release).

The anticipated closing date of the placement is Feb. 28, 2025.

In connection with the placement, the company may pay finders' fees of up to 6 per cent cash and 6 per cent warrants. The placement is subject to Canadian Securities Exchange acceptance.

Any securities issued in connection with the placement will be subject to a four-month hold period, in accordance with securities laws and the policies of the CSE, as applicable.

Key appointments

Dr. Smith has over 30 years of technical experience, with a strong record of discovery within both brownfield and greenfield projects across 15 countries. He was formerly the technical director of strategy and new projects for Teck Resources, chief geologist for Oxiana/OZ Minerals/MMG group of companies, and founder and chief geologist for G-Resources, Tigers Realm and various EMR portfolio companies.

Mr. Webster is a geologist with over five years of experience across geological mapping, brownfield and greenfield drill supervision, and target generation. Since 2023, Mr. Webster has been based in Argentina and focused on his on-line publications across cyclical investing, geology, and mining and exploration within Argentina, as well as his role as Ronin Resources' country manager, Argentina.

Early warrant exercise by insiders

Mr. van den Elsen has exercised 1.42 million 7.5-cent warrants at a cost of $106,500, increasing his holding to 4,904,000 shares, or approximately 5.6 per cent of the undiluted share capital. Insiders and supportive long-term shareholders have also exercised an aggregate of 3.57 million 7.5-cent warrants, raising an additional $267,750.

As a result, the company has 88,154,278 common shares issued as at Feb. 4, 2025.

About Pampa Metals Corp.

Pampa Metals is a copper-gold exploration company.

In November, 2023, the company entered into an option and joint venture agreement for the acquisition of an 80-per-cent interest in the Piuquenes copper-gold porphyry project in San Juan province, Argentina.

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