Pampa Metals Upsizes Fully Subscribed Private Placement to $2m

VANCOUVER, BC / ACCESSWIRE / April 8, 2024 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIRA)(OTCQB:PMMCF) has upsized the non-brokered private placement (the "Placement") announced on 28 March 2024 to 8,333,334 units ("Units") at a price of $0.24 per Unit for gross proceeds of $2,000,000 ("Proceeds"). Each Unit will consist of one fully paid common share and a half purchase warrant. Each whole warrant (a "Warrant") shall entitle the holder to acquire an additional common share at a price of $0.40 for a period of 3 years after the closing of the Placement.

The Placement has been upsized to accommodate a specialist resources fund alongside insiders and supportive long-term shareholders.

Proceeds will fund continuing exploration at the Piuquenes Copper-Gold Porphyry Project, where the Company recently reported results from the first drillhole (refer 18 March 2024 News Release) including:

422 m @ 0.48% Cu, 0.61 g/t Au & 2.9 g/t Ag (1.00% CuEq)* (from 198 m);

including 132 m @ 0.71% Cu, 0.85 g/ Au, 4.3 g/t Ag (1.45% CuEq)* (from 220m);

Including 80 m @ 0.6% Cu, 0.77 g/t Au & 3.2 g/t Ag (1.30% CuEq)* (from 468m).

The anticipated closing date of the Placement is Monday April 15, 2024.

In connection with the Placement, the Company may pay finder's fees of up to 7% in cash and 7% in finder's warrants from the sale of Units to third parties sourced by finders. Finder's warrants will be on the same terms as those issued under the Placement and entitle the holder to purchase one common share of the Company at a price of $0.40 per share for a period of 3 years from the closing date.

Any securities issued in connection with the Placement will be subject to a four-month hold period, in accordance with securities laws and the policies of the Canadian Securities Exchange, as applicable. The Placement is subject to CSE acceptance.

ON BEHALF OF THE BOARD INVESTOR CONTACT

Joseph van den Elsen | President & CEO Joseph van den Elsen | [e-mail]

ABOUT PAMPA METALS

Pampa Metals is a copper-gold exploration company listed on the Canadian Stock Exchange (CSE:PM), Frankfurt (FSE: FIR), and OTC (OTCQB: PMMCF) exchanges.

In November 2023, the Company announced it had entered into an Option and Joint Venture Agreement for the acquisition of an 80% interest in the Piuquenes Copper-Gold Porphyry Project in San Juan Province, Argentina. Reported intervals of significant copper and gold mineralization at Piuquenes Central include: