Pan American Silver reports mineral reserves and mineral resources as of June 30, 2024

Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) (“Pan American” or the “Company”) reports its estimated Mineral Reserves and Mineral Resources as of June 30, 2024. Proven and probable Mineral Reserves are estimated to contain approximately 468.0 million ounces of silver and 6.9 million ounces of gold. Measured and Indicated (“M&I”) Mineral Resources (excluding proven and probable (“P&P”) reserves) are estimated to total approximately 1,148.0 million ounces of silver and 15.5 million ounces of gold. Inferred Mineral Resources are estimated to total approximately 366.0 million ounces of silver and 9.4 million ounces of gold. The updated Mineral Reserve and Mineral Resource estimates are reported excluding the sale of the MARA, Agua de la Falda and Morococha properties, as announced in the Company’s press release dated July 31, 2023. The divestment of these non-core assets, which are not producing, is largely responsible for a decrease in Mineral Reserves and Mineral Resources compared to 2023.

“Our exploration efforts have successfully replaced mine production and expanded mineral reserves at Jacobina, La Colorada, Huaron and Minera Florida. Additionally, infill and extensional drilling at the Jacobina mine has increased the Inferred Mineral Resource by over 1.2 million ounces of gold, highlighting the significant exploration potential of the deposit and the potential to replace mineral resources and mineral reserves in the future,” said Christopher Emerson, Pan American’s Vice President of Exploration and Geology. “At the La Colorada Skarn project, the estimated Indicated Mineral Resource has grown significantly to 309 million ounces of silver due to higher tonnage and higher grades, with the Inferred Mineral Resource now estimated at 59 million ounces of silver. Zinc and lead at the skarn deposit have also increased since our last resource update.”