Pan American Energy Announces Commencement of the Phase 2 Drilling Program at the Big Mack Lithium Project - Seite 2

Phase One 2023 Drilling Program Details:

• Commencement Date: Mobilization and drill start dates respectively: October 31^st and November 3^rd, 2023
• Shutdown Date: Drilling stop date and crew’s last day on site: December 14^th and December 19^th, 2023
• Total Number of Drillholes: 34 completed holes (BM23-001 to BM23-0034) and one abandoned hole (BM23-001A)
• Total Meters Drilled: 4,582 meters drilled in 2023
• Geochemical Assay Samples: A total of 2,337 samples have been taken across the 34 completed holes. Of these, 1,817 samples have been delivered to ALS Global for geochemical assays. The remaining 520 samples are planned to be cut and submitted in 2024.
  
  

Figure 1: 2024 Drilling Target Locations including select surface samples from 2023 field program.

Qualified Person

The technical content of this news release has been reviewed and approved by Jared Suchan, Ph.D., P.Geo., who is an independent consultant of the Company, and a “Qualified Person” as defined by NI 43-101.

For additional information regarding the Company’s surface sampling program at the Property, including a complete summary of the samples collected and the results of the sampling program including the sampling and analytical methods and QA/QC protocols, please see the Company’s news release dated August 9, 2023, which is filed on the Company’s SEDAR+ profile at www.sedarplus.ca.

About the Property

The Property is located 2 km east of all-weather Snook Lake Road about 80 km north of Kenora, ON. The property is proximal (~1.3 km) to Avalon’s Separation Rapids, Big Whopper deposit which hosts a measured and indicated resource. The Property is within an Ontario registered mining lease, with over 30 years of exploration history. The Property lies within the traditional land use area of the Wabaseemoong Independent Nations of Whitedog, Ontario: an Aboriginal community located approximately 35 km southwest of the property.

The Property hosts four known Li-bearing pegmatites including the Big Mack pegmatite, Eleven Zone, Sprinkler Zone, and 6095 pegmatite which are thought to be related to the Separation Rapids Pluton. They are interpreted as zoned Complex Type, Petalite Subtype LCT Pegmatites. The Big Mack pegmatite represents the largest petalite-bearing mass on the Property and is exposed over an 80 by 225 m area. Historic drilling campaigns (1998, 1999, 2001) intersected mineralization extending along a strike length of ~150 meters and to a depth of 75 meters. The mineralization at the Property remains open at depth and along strike.