Drill Permit Amendment Approval For Phase Two Drilling Program At Horizon Project

CALGARY - Pan American Energy Corp. has received approval on the submitted Notice of Amendment (NOA) to the Bureau of Land Management (BLM), Tonopah Field Office for exploration drilling at its 17,334 acre Horizon Lithium Project. The NOA captures the adjusted drill program design to focus drilling on the central and Eastern portion of the property. The Company is fully permitted to drill up to twenty-two (22) lithium prospecting core holes with associated access on federal surface and mineral, under the management of the BLM – Tonopah Field Office, approximately 7.4 miles west of Tonopah, Esmeralda County, Nevada. The Company recently completed an eleven (11) hole Phase One (1) drill program that led to the discovery of a lithium cluster on the Horizon Lithium Project.

CEO, Jason Latkowcer, said, “Our Phase One program led to the discovery of a significant lithium cluster on our property. All drill holes encountered lithium, with wide areas of mineralization and results as high as 2,040 ppm lithium. We submitted an amended drill program to the Bureau of Land Management, which was promptly approved. The updated program reflects the lessons learned from Phase One and focuses our drilling efforts on the central and eastern parts of the property. This approach is expected to help us generate an inferred resource by the end of the year. We are actively assessing the potential for additional exploration and drilling programs for the remaining two-thirds of the property.”

The Company had been previously permitted for twenty-two (22) drill holes and submitted an amendment application to the Bureau of Land Management (“BLM”) to adjust the drill pattern. Drill targets will be continuously evaluated to focus on the highest-priority drill holes which may include twinning of holes.