Pan American Energy Commences Drilling at the Tharsis Project

Core Viewpoint - Pan American Energy Corp. has commenced diamond drilling at the Tharsis Project in the Northwest Territories, marking a significant transition from surface exploration to testing the mineral potential at depth [2][4]. Group 1: Project Development - The drilling program at Tharsis is the first for the Company and aims to evaluate the critical mineral potential of the project [2][5]. - The Tharsis Project has undergone several exploration phases, including surface sampling and geophysical interpretation, which have identified priority drill targets within a large prospective intrusive system at the Squalus Lake Alkaline Complex [3][4]. Group 2: Mineral Potential - The Squalus Lake Alkaline Complex is considered prospective for rare earth elements (REE), niobium (Nb), and yttrium (Y), which are increasingly important for advanced technologies and securing North American supply chains [3]. - The winter 2026 drilling program is expected to include approximately 1,500 meters of diamond drilling, subject to field conditions [5]. Group 3: Company Background - Pan American Energy Corp. is primarily engaged in the acquisition, exploration, and development of mineral properties containing battery and critical metals in North America [7]. - The Company has also executed an option agreement to acquire a 75% interest in the Big Mack Lithium Project, with the potential to earn an additional 15% [8].