Pan American Energy Announces Drilling Program at the Horizon Lithium Project to Commence February 2023

The Initial Drill Program will consist of 11 high priority drill targets

/EIN News/ -- CALGARY, Alberta, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (the “Company” or “Pan American”) (CSE: PNRG) (OTC PINK: PAANF) (FRA: SS6) is pleased to announce the Company has committed to drilling eleven (11) high priority drill targets for an estimated budget of C$1.5M starting February 2023 at its 17,334 acres Horizon Lithium Project (“Horizon”). RESPEC Consulting Inc. (“RESPEC”), Pan American’s strategic technical partner for Horizon, has been commissioned to design, manage, contract, and run the drilling program.

Pan American’s CEO, Jason Latkowcer, commented, “Our prior preparation leading up to this fully funded drilling program has instilled tremendous confidence in our chances of success. RESPEC recently completed a drilling program at a nearby lithium venture and is currently engaged to perform an independent analysis of American Battery Technology Corp’s exploration results to quantify the magnitude of their lithium-bearing resource immediately adjacent to Pan American’s Northern border. Upon completion, this program is designed to further quantify the existence of a valuable lithium deposit at Horizon. We will focus on overburden assessment, concentration of lithium, depth of mineralization, thickness of the ore zone, and the breadth of the resource.”

The Company is currently permitted for nineteen (19) drill holes and has submitted an amendment application to the Bureau of Land Management (“BLM”) to increase to a total of twenty-two (22) as seen in Figure 1. Drill targets will be re-evaluated upon the completion of the initial 11 high-priority drill holes.

Figure 1 - Drill Hole Locations

Figure 2 - Drill Hole Locations 2

About Pan American Energy Corp.

Pan American Energy Corp. (CSE: PNRG) (OTC PINK: PAANF) (FSE: SS6) is an exploration stage company engaged principally in the acquisition, exploration and development of mineral properties containing battery metals in North America.

The Company’s maiden asset is the 100% owned Green Energy Lithium Project, located in the Paradox Basin, Utah, USA. The Company has also entered a property option agreement with Horizon Lithium LLC with the right to acquire 100% interest in the Horizon Lithium Project, located within the Clayton Valley – Tonopah Lithium Belt, Nevada, USA.

The Company executed an option agreement in Canada with Magabra Resources with the right to acquire up to 90% interest in the drill-ready Big Mack Lithium Project, 80 km north of Kenora, Ontario.

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

Contact
Phone: (585) 885-5970
Email: info@panam-energy.com

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the Company’s planned drilling and sampling program, including the date upon which the Company expects to announce its phase one plans, the amount of drilling to be contained in such program and the proposed location of the exploration undertaken as part of the program, and the potential commercialization of the Property.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, the assumption that: the Company will be successful in commercializing the Property and that the Company will undertake its planned drilling and sampling program on the timeline and parameters that are currently expected. Such assumptions and factors are based on information currently available to the Company.

Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a Project, and that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company, including the establishment of a commercial mining operation. The forward-looking information contained in this release is made as of the date hereof, and the Company not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The CSE has neither approved nor disapproved the information contained herein.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/77b35650-fbb7-40be-87e6-c4e015bd328c

https://www.globenewswire.com/NewsRoom/AttachmentNg/06a8f1f0-3878-4821-89c5-dfe1e5ce994e

Figure 1

Drill Hole Locations

Figure 2

Drill Hole Locations 2