Pampa Metals Corp. (“Pampa Metals” or the “Company”) (CSE:PM) (FSE:FIRA) (OTCQX®:PMMCF) is pleased to report the results of its analysis of the three-hole diamond drilling program completed in the last 100 years. I’m glad.Ownership of Buena Vista Target in northern Chile

Buena Vista Assay Results:

• As previously reported (see news release dated 5 June 2023), hydrothermal alteration and mineralization indicative of the upper part of the porphyry copper system intersected at all three holes. Multiple Au-Ag-Cu and Mo interceptions confirm a high sulfidation epithermal mineralization style in the porphyry transition.
• Individual samples were prepared with 1.86 g/t Au (Hall BV02-2023), 30 g/t Ag (Hall BV02-2023), 0.45% Cu (Hall BV02-2023), and 1,715 ppm Mo (Hall BV03-2023). Reported maximum assay grade. .
• Hole BV02-2023 is an 8 m @ 0.12% Cu, 0.32 g/t Au, 5.9 g/t Ag containing quartz sulfide vein and breccia-associated Au-Ag-Cu mineralization from a 174.18 m downhole. Cut multiple narrow zones. A large amount of molybdenum (286ppm Mo) was reported from the tourmaline breccia to the bottom of the pit (515.2 m), suggesting a possible proximity to an intermineral porphyry source.
• Hole BV03-2023, similar to BV02-2023, has a collar within the sulfide-quartz breccia zone with surface cuprates mapped, containing 4m @ 0.14 m, associated with sulfide-quartz veins and breccia. We cut several narrow zones of Au-Ag-Cu mineralization. %Cu, 0.44g/t Au, 2.1g/t Ag. High grade molybdenum (4m @ 574ppm Mo) was also reported from a 656m downhole vein.
• Cu-Au-Ag values ​​in a series of narrow granodiorite dikes cut at BV02-2023 and BV03-2023 confirm the presence of early intermineral intrusions.
• Hole BV01-2023 was drilled into the central Buena Vista Quartz Vein Stockwork Zone, with associated Tertiary (60 Ma) dacite porphyry, reflective surface geochemistry, and molybdenum deposits along most of the length of the hole. It was highly anomalous, with the highest individual assay value of 222ppm Mo. .

A table of the most important intercepts is included as an appendix to this news release.

Commenting on the results, President and CEO Joseph van den Elsen said:

“We are pleased to report the results of this first reconnaissance drilling program in Buena Vista. It clearly indicates that the perimeter of the system has been penetrated” , and the presence of intermineral porphyry beneath or to the flank of the current drilling. , encouraging exploration as other geophysical anomalies at the site are still subject to drilling tests. Pampa considers the Buena Vista Target and the Buena Vista Project more broadly to be very promising for the discovery of porphyry copper-gold-molybdenum deposits, and to continue to advance the full evaluation of this asset. Evaluating alternatives. There are other likely opportunities to discover large copper deposits in the Americas. “

About Buena Vista Target

Pampa Metals is a Buena Vista project located along the Domeico Porphyry Copper Belt in northern Chile, halfway between the Escondida and El Salvador porphyry copper mining areas. Completed three diamond drilling programs. The drilling is designed to test the simultaneous occurrence of geological, geochemical, and geophysical anomalies that collectively contribute to the formation of one or more Tertiary epoch porphyry. We have demonstrated that the environment is suitable for the existence of the Cu-Au-Mo system.

• Hole BV01-2023 (553 m total length) was vertical and drilled into the stockwork of striped quartz veins with surface molybdenum anomalies (soil and grooves) in the center of the Buena Vista target. Veinlets cut dacite porphyry (U-Pb, zircon) dated 60 Ma by Pampa Metals. Stockwork of dacite porphyry and quartz veins is consistent with subcircular magnetic high and moderate IP charging anomalies.
• About 440m west of BV01-2023, holes BV02-2023 (total length 670.5m) and BV03-2023 (total length 733.8m) with an azimuth angle of 120 degrees and an inclination angle of 60 degrees (BV02-2023) and 80 degrees were excavated. rice field. (BV03-2023), respectively, in areas with surface copper oxides of quartz sulfide breccia. The location of the collar is consistent with low magnetism, moderate IP chargeability, and a copper-gold-silver-arsenic-bismuth geochemical anomaly (soil and ditch).

Buena Vista – Location along the Domeico Mountains Porphyry Copper Belt

Quality Control – QA/QC

A total of 1,015 samples and 109 control samples (10%-value standard, blank standard, duplicates) from diamond drill-cut half-cores analyzed by ALS Patagonia by fire assay using gold atomic absorption finish (AA23) Did. Mass spectrometry (ME-MS61) after tetraacid digestion for multi-element analysis. All samples were pre-prepared at ALS Patagonia Chile using the PREP-31B protocol.

Pampa Metals carried out all core cutting and sampling operations at a camp in Agua Verde, northern Chile, following pre-written in-house protocols based on international standards. Duplicates of control samples, quartz blanks, and cut core samples with known manufacturer’s standards were inserted into the sample batch according to the protocol. Quality Assurance and Quality Control (“QA/QC”) is routinely performed by ALS Patagonia using proprietary internal standards and protocols. Such QA/QC results from Pampa Metals batches were satisfactory. Additionally, QA/QC evaluations were performed in-house with blind control samples inserted by Pampa Metals and reviewed by company management. The QA/QC results passed his QA/QC protocol, including the value standard manufacturer’s certified values.

About Pampa Metals

Pampa Metals is a Canadian company listed on the Canadian Stock Exchange (CSE: PM), Frankfurt (FSE: FIRA) and OTC (OTCQB®: PMMCF) exchanges with seven promising copper and molybdenum projects. wholly owns a portfolio of 47,400 hectares. And gold is produced along Chile’s proven and highly productive mineral belts, one of the world’s leading mining jurisdictions. The Company’s current focus is on the Buena Vista Project, which is being actively pursued through planned exploration and drilling tests of its highest priority targets.

Our vision is to create significant value for our shareholders and stakeholders by applying our technical and commercial expertise towards large-scale copper discoveries along Chile’s major mineral belts. For more information, visit his website at Pampa Metals at www.pampametals.com.

qualified person

The technical information in this news release has been approved by Mario Orrego G, geologist, registered member of the Chilean Mining Commission and qualified person as defined in National Instrument 43-101. Mr. Orego is our consultant.

Note: The reader is advised that the Pampa Metals project is an early-stage exploration project and references to existing mines or deposits or to mineralization hosted on adjacent or nearby land do not necessarily refer to mineralization on Pampa Metals land. Note that it does not indicate

On behalf of the Board of Directors
Joseph van den Elsen | President and CEO

investor contact
Joseph van den Elsen | President and CEO
joseph@pampametals.com

Neither the CSE nor the Canadian Investment and Industry Regulatory Authority assumes responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain statements that may be considered “forward-looking statements.” Except for statements of historical fact, all statements in this release that refer to events or developments that Pampa Metals expects to occur are forward-looking statements. Forward-looking statements are statements that are not historical facts and generally, but not always, use the word “expect” or similar expressions or statements that describe events or conditions that “will” or “could occur.” identified by the word “possible”. These statements involve various risks. Although Pampa Metals believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and may not represent actual results. Results may differ materially from the forward-looking statements.

APPENDIX – IMPORTANT INTERCEPT TABLE – BUENAVISTA DRILLING – MAY/JUNE 2023

sauce:Pampa Metals Co., Ltd.

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