Mr. Adrian Lamoureux reports

PAN AMERICAN ENERGY ANNOUNCES COMPLETION OF 2026 DRILL PROGRAM AND DEMOBILIZATION FROM SQUALUS LAKE CAMP

Pan American Energy Corp. has completed its 2026 drill program at the Tharsis project in the Northwest Territories, and demobilization from the Squalus Lake camp has now been successfully completed. All drill core has been shipped to Yellowknife for further processing.

The completion of drilling and field demobilization marks an important operational milestone for the company as it continues to advance its understanding of the project and evaluate its rare-earth element potential. With field operations now concluded, the technical team will focus on detailed geological logging and subsequent sampling for assay analysis, as well as the compilation, review and interpretation of geological information collected during the program.

Adrian Lamoureux, chief executive officer of Pan American, commented: "We are pleased to report the completion of drilling, along with the safe demobilization of camp and crew from Squalus Lake. The company appreciates the efforts of the field crews, contractors and technical personnel who supported the program, and looks forward to providing additional updates as postfield activities advance."

The company expects to provide further updates as work related to the program continues to advance.

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.

For a discussion of the company's QA/QC (quality assurance/quality control) and data verification procedures and processes, please see its most recently filed technical report under the company's profile at SEDAR+.

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 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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