Mr. Joseph van den Elsen reports

PAMPA METALS ANNOUNCES $5 MILLION LIFE OFFERING

Pampa Metals Corp. has arranged a non-brokered private placement for gross proceeds of a minimum of $4-million and a maximum of $5-million through the issue of up to 31.25 million shares at a price of 16 cents per share. Canaccord Genuity Corp. has been appointed as financial adviser to the company in connection with the listed issuer financing exemption offering.

The shares will be offered to purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions) in each of the provinces of Canada except Quebec. The shares offered will not be subject to a Canadian hold period in accordance with applicable Canadian securities laws.

There is an offering document related to the LIFE offering that will be made available under the company's profile on SEDAR+. The offering document will also be made available on the issuer's website. Prospective investors of the units should read the offering document before making an investment decision.

The company intends to use the net proceeds from the LIFE offering to finance exploration at the company's Piuquenes project and, upon completion of the previously announced acquisition of Rugby Resources Ltd. (see news release dated April 22, 2025), the Cobrasco project, as well as for working capital and general corporate purposes, as more specifically described in the offering document. The LIFE offering is scheduled to close on or around June 27, 2025. The LIFE offering remains subject to certain conditions customary for transactions of this nature, including, but not limited to, and compliance with Canadian Securities Exchange policies.

Financial adviser to the LIFE offering

Canaccord Genuity has been appointed as financial adviser to the company in connection with the LIFE offering and will receive an advisory fee equal to 1 per cent of the total gross proceeds raised pursuant to the LIFE offering.

In connection with the LIFE offering, the company may pay finders' fees of up to 5 per cent in cash and 5 per cent in finder warrants.

Finder warrants will have an exercise price of 30 cents and a two-year term.

About Pampa Metals Corp.

Pampa Metals is a copper-gold exploration company listed on the Canadian Securities Exchange, the Frankfurt Stock Exchange and the OTC. In November, 2023, the company 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. In April of 2025, the company announced an agreement to acquire 100 per cent of Rugby Resources and, on closing, will hold an 80-per-cent interest in the Cobrasco project, located in Colombia.

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