Mr. Joseph van den Elsen reports

PAMPA METALS ISSUES FINAL TRANCHE OF PRIVATE PLACEMENT

Pampa Metals Corp. has issued the final tranche of units under the private placement detailed in a Feb. 5, 2025, news release.

Pampa Metals private placement

In aggregate, Pampa Metals has issued a total of 18.75 million units at a price of 16 cents per unit for total gross proceeds of $3-million. Each unit consists of one fully paid common share and a half purchase 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.

President and chief executive officer Joseph van den Elsen participated in the private placement in the amount of $111,424.

In connection with the private placement, Pampa Metals paid aggregate finders' fees of $30,240 and issued 189,000 finders' warrants.

Consequently, the company has a total of 107,473,718 shares issued and outstanding.

Any securities issued in connection with the private placement are subject to a four-month hold period in accordance with securities laws and the policies of the Canadian Securities Exchange.

Pampa Metals to acquire Rugby Resources

Pampa Metals and Rugby continue to advance the definitive agreement contemplated in the Feb. 19, 2025, news release, advising of the proposed acquisition by Pampa Metals of all the issued and outstanding common shares of Rugby. The acquisition is to be by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia) in exchange for common shares of Pampa Metals on the basis of one Pampa Metals share for every 6.4 Rugby shares.

Based on the current number of issued and outstanding common shares of Rugby, Pampa would issue approximately 65,097,403 shares in exchange for all of the outstanding Rugby shares.

About Pampa Metals Corp.

Pampa Metals is a copper-gold exploration company listed on the Canadian Securities Exchange, Frankfurt Stock Exchange and the OTC.

In November, 2023, Pampa Metals announced it had 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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