Mr. Joseph van den Elsen reports

PAMPA METALS APPOINTS TONY MANINI CHAIRMAN, PAOLA BREWSTER DIRECTOR

Pampa Metals Corp. has appointed of major shareholder Tony Manini as chairman of the board of directors and Paola Brewster as a non-executive director. Concurrently, founding Pampa Metals' directors Adrian Manger and Julian Bavin have resigned.

Mr. Manini is a geologist-mining entrepreneur and co-founder of multiple highly successful exploration and mining businesses globally. He has been closely involved in the financing, discovery, development and sale of multiple mines and deposits in both the public and private sectors, including several highly successful junior exploration companies listed on the Australian Securities Exchange, TSX Venture Exchange and London AIM (Alternative Investment Market).

Ms. Brewster is a Colombian national with extensive mining industry experience, a former director of the Australia-Latin America business council and a former senior diplomat for the Colombian government in Australia.

Joseph van den Elsen, Pampa Metals president and chief executive officer, commented: "Board and management renewal has been a key focus as Pampa Metals evolves into a multiasset company with a portfolio of high-quality South American porphyry copper discoveries. Along with fellow director Bryce Roxburgh, I welcome major shareholder Tony Manini and Paola Brewster to the board at this exciting time in the company's evolution and thank outgoing directors Adrian and Julian for their valuable contribution since inception. We have now assembled a high-calibre, complementary board, capable of unlocking the inherent value within our portfolio."

Incoming chairman Tony Manini commented: "I am excited to be joining the Pampa Metals board at this major inflection point. Through a combination of strong technical and commercial acumen, Pampa Metals has secured a compelling portfolio of high-quality copper projects along the world-class Andean porphyry copper belt. The Piuquenes and Cobrasco projects have already demonstrated the potential for major copper deposits, and I strongly believe that further exploration and evaluation of these projects will deliver very significant value for shareholders. I look forward to leading the board and working with the management team during this transformational time for the company."

Mr. Manini is a geologist-mining entrepreneur who has been closely involved in the financing, discovery, development and sale of multiple companies, mines and deposits over 35 years. His background covers a wide range of commodities in more than 20 countries, and includes technical, commercial, senior management and executive roles with Rio Tinto, Oxiana, OZ Minerals, Tigers Realm Group and resources private equity firm EMR Capital. He is a co-founder of EMR Capital and Tigers Realm Group, a resource company incubator that listed several successful exploration and development companies, including NexGen Energy and C3 Metals Inc. Mr. Manini is currently the chairman of C3 Metals Inc. and Asiamet Resources Ltd.

Ms. Brewster is an international leader with two decades of experience across government relations, social performance, governance frameworks, risk management and industry technical roles.

As a former senior diplomat for the Colombian government in Australia, Ms. Brewster has been a strong advocate for transparent public policy supportive of attracting and maintaining foreign direct investment. Her diplomatic leadership was instrumental in securing the first-ever Colombia-Australia memorandum of understanding on mining, a landmark bilateral achievement.

Ms. Brewster is the current upstream South Australian operations lead at ASX-listed gas major Santos (market cap of $25-billion), and has previously held management leadership positions in health and safety, fixed plant maintenance, reliability improvement, and external affairs with Newcrest Mining and Catalyst Metals. Prior to these roles, Ms. Brewster worked with OceanaGold Corp. and Kingsgate Ltd. across the Philippines, Thailand, New Zealand and Australia, advancing her passion for collaborating with impacted communities.

Her qualifications include a master of business administration, master of international business, a bachelor of law, a certificate in applied finance, and diplomas in mineral exploration geoscience, mining processing, and mechanical reliability and maintenance.

Grant of incentive stock options

The company has granted a total of 10.5 million stock options of a five-year term to directors, officers and consultants. Three million five hundred stock options are exercisable at 30 cents, 3.5 million are exercisable at 40 cents and 3,500,500 are exercisable at 50 cents. Following this grant, the company will have 14,685,000 options outstanding, equivalent to approximately 6.9 per cent of the outstanding common shares.

About Pampa Metals Corp.

Pampa Metals is a copper-gold exploration company listed on the Canadian Stock Exchange, Frankfurt Stock Exchange and OTCQB, rapidly advancing two high-potential copper discoveries in the prolific Andean porphyry belts of Argentina, Colombia. The company has been actively drilling multiple porphyry copper-gold discoveries on the Piuquenes copper-gold project in San Juan province, Argentina, under an option and joint venture agreement (earning an 80-per-cent interest), signed in November, 2023.

In July, 2025, Pampa Metals completed the acquisition of Rugby Resources and its Cobrasco and Mantau copper projects in Colombia and Chile, respectively. Cobrasco is a new copper discovery of potential scale in the early stages of exploration.

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