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Pan American Energy Corp: Exploration Permit Issued For The Big Mack Lithium Project, Ontario

Press Release

October 17, 2023

The Company is fully funded for approximately 5,000 meters of diamond core drilling that is scheduled to begin in November, 2023

Calgary AB – Pan American Energy Corp.  (the “Company” or “Pan American”) (CSE: PNRG) (OTC PINK: PAANF) (FRA: SS60) is pleased to announce that the Company has received an Exploration Permit (PR-23-000091) from the Ontario Ministry of Mines for the Big Mack Lithium Project (the “Property”). The Company has identified several high-priority drill targets as a result of field sampling and geophysical work completed earlier this year which it intends to drill as part of the planned exploration program. The Company’s contractor partner, Axiom Exploration (“Axiom”), will support the planned exploration work, including project management, drill program design, geological data collection, testing and technical reporting.

Project Highlights:

  • Over 20+ pegmatites identified across the Property with three priority targets – Big Mack, Eleven Zone and Sprinkler/6059 which will be the focus of the planned exploration program.
  • The Property is adjacent to Avalon Advanced Material Corp.’s (TSX: AVL and OTCQB: AVLNF, “Avalon”) flagship Separation Rapids joint venture project, the Big Whopper, which has an estimated measured and indicated mineral resource of 10.08 million tonnes averaging a grade of 1.35% o Lithium Oxide (“Li2O”).[1]
  • The Company has completed a magnetic survey, LiDAR survey and prospecting program with multiple high priority drilling targets identified, which the Company intends to drill as part of the planned exploration program.
  • Prior surface samples taken from the Property graded up to 3.21% Li2O, with sample values above 1.00% Li2O from the Eleven, Big Mack, and 6059 zones, all with visible petalite on surface.
  • The Property is accessible by road and is located approximately 80 km North of Kenora, ON.

“We are thrilled to have received this exploration permit from the Ontario Ministry of Mines and look forward to getting to work in the coming weeks,” said Jason Latkowcer, Chief Executive Officer at Pan American. “The previous work on the Property has allowed us to refine our drill targeting. We have identified some incredible targets in the program design”. Jason continued, “We would like to acknowledge that the Big Mack Project lies within the traditional land use area of the Wabaseemoong Independent Nations of Whitedog, Ontario. We are committed to conducting operations in accordance with applicable environmental laws and in collaboration with the local community.”

Qualified Person

The technical content of this news release has been reviewed and approved by Lynde Guillaume, P.Geo, who is a consulting geologist of Axiom Exploration, 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 and 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.

To register for investor updates, please visit https://panam-energy.com.

On Behalf of the Board of Directors
Jason Latkowcer
CEO & Director

Contact
Phone : (587) 885-5970
Email: info@panam-energy.com

IBF4

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