Mr. Adrian Lamoureux reports

PAN AMERICAN ENERGY TO BEGIN FIELDWORK AT THE THARSIS PROJECT

Pan American Energy Corp. will begun the first phase of development at the newly acquired Tharsis project (see details about the project agreement in the June 16, 2025, news release). Phase 1 will mark the beginning of a structured, multistep exploration plan designed to advance the project in a methodical and responsible manner.

The phase 1 work will be focused on a field-based program of surveying activities that will provide baseline information on the project area. The investigation will be designed to establish the technical foundation for future exploration, while also ensuring environmental and cultural considerations are fully incorporated. The company expects the results of this work to guide the development of a comprehensive geological model and define the path toward drill targeting.

"Our strategy at Tharsis is to move deliberately and responsibly through each stage of exploration," said Adrian Lamoureux, chief executive officer of Pan American. "Beginning with phase 1 fieldwork, we are laying the groundwork for a project that we believe has significant potential."

Pan American will provide further updates as progress continues at the Tharsis project.

Qualified person

The scientific and technical content of this news release has been reviewed, verified and approved by Jared Suchan, PhD, PGeo, technical adviser to the company and a qualified person as defined by National Instrument 43-101.

About Pan American Energy Corp.

Pan American Energy is an exploration-stage company engaged principally in the acquisition, exploration and development of mineral properties containing battery and critical metals in North America. The company has executed an option agreement in Canada with Magabra Resources, pursuant to which it has acquired a 75-per-cent interest in the Big Mack lithium project, 80 kilometres north of Kenora, Ont., with the right to earn an additional 15 per cent for a total 90-per-cent interest. Pan American has also entered into an option agreement with Northern Critical Minerals Corp. to acquire up to a 100-per-cent interest in the Tharsis REE (rare earth element) project, located in the Northwest Territories. The project hosts the Squalus Lake alkaline complex, a Proterozoic-age carbonatite-bearing intrusion prospective for rare earth and high-field-strength elements.

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