Mineros S.A. Buys 80% of La Pepa From Pan American (PAAS) to Own 100%

Group 1 - Pan American Silver Corp. (NYSE:PAAS) is selling its 80% stake in the La Pepa Project to Mineros S.A. for $40 million, which will grant Mineros complete ownership of the project [1] - The agreement will end the current joint venture between Pan American Silver and Mineros, with the closing deadline set for September 30, 2025 [1] - The La Pepa Project in Chile's Maricunga Gold Belt contains significant resources, including 1.15 million oz Au (Measured), 1.04 million oz Au (Indicated), and 366 koz Au (Inferred) [2] Group 2 - Mineros plans to conduct a preliminary economic assessment to evaluate the feasibility of the La Pepa Project based on the 2021 Mineral Resource estimate, assuming a long-term gold price of $1,650/oz [2] - The acquisition increases Mineros' exposure to Chile, a key mining jurisdiction, and strengthens the company's growth pipeline [1]