Pan American Energy Announces Completion of Phase 2 Earn-In for Big Mack Lithium Project and Termination of Horizon Property Option Page 1

CALGARY, Alberta, August 29, 2024 (GLOBE NEWSWIRE) — Pan American Energy Corp. (CSE:PNRG | OTCQB: PAANF | FRA: SS60) ( “Pan American” or the “Company“) is pleased to announce that it has completed the earn-in payments and work expenditures of Phase Two (C$400,000 of Pan American shares; and C$1,120,000 of exploration expenditures) under its Property Option Agreement (“Big Mack Option Agreement“) with Magabra Resources Corp. (“Magabra”) dated August 22, 2022. Accordingly, Pan American has acquired a 75% interest in the Big Mack Lithium Project in Kenora, Ontario (“Big Mack“).

Under the terms of the Big Mack Option Agreement, the Company may acquire an additional 15% interest in Big Mack, for a total interest of 90%, by issuing C$100,000 worth of Pan American shares prior to August 22, 2025.