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NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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CALGARY, Alberta, May 29, 2025 (GLOBE NEWSWIRE) — Pan American Energy Corp. (CSE: PNRG | FRA: SS60) (“Pan American” or the “Company”) announces that it has entered into debt settlement agreements with certain creditors of the Company (the “Creditors”) pursuant to which the Company has agreed to issue to the Creditors, and the Creditors have agreed to accept, an aggregate of 2,205,841 common shares in the capital of the Company (the “Settlement Shares”), at a deemed value of $0.20 per Settlement Share, in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $441,168.50 (the “Debt Settlement Transactions”).

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All securities to be issued pursuant to the Debt Settlement Transactions will be subject to a statutory hold period expiring four months and one day from the date of issuance in accordance with applicable Canadian securities legislation. The Debt Settlement Transactions, including the issuance of the securities contemplated thereby, are subject to the approval of the Canadian Securities Exchange.

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About Pan American Energy Corp.

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Pan American Energy Corp. (CSE: PNRG) (FSE: SS60) is an exploration stage company engaged principally in the acquisition, exploration and development of mineral properties containing battery metals in North America.

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The Company has executed an option agreement in Canada with Magabra Resources pursuant to which it has acquired a 75% interest in the Big Mack Lithium Project, 80 km north of Kenora, Ontario. The Company can earn an additional 15% interest in Big Mack, for a total of 90% interest.

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On Behalf of the Board of Directors

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Adrian Lamoureaux
Chief Executive Officer

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Contact

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Cautionary Note Regarding Forward-Looking Statements

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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 belief or assumptions as to the outcome and timing of such future events.

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In particular, this press release contains forward-looking information relating to, among other things, the Debt Settlement Transactions, including the receipt of all necessary regulatory and other approvals. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including the assumption that the Canadian Securities Exchange will accept the terms of the Debt Settlement Transactions and that the Debt Settlement Transaction will proceed as currently anticipated. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.