Pampa Metals Commences Diamond Drill Program at the Piuquenes Copper-Gold Porphyry Project

In November 2023, the Company announced it had entered into an Option and Joint Venture Agreement for the acquisition of an 80% interest in the Piuquenes Copper-Gold Porphyry Project in San Juan Province, Argentina.

Pampa Metals Corp. announced that follow-up diamond drill testing at the Piuquenes Copper-Gold Porphyry project has commenced. The primary objectives of the program are to test the depth and lateral extension of the high-grade intervals of open mineralization at Piuquenes Central, and its potential to host an orebody of 1,000 m depth and 300 - 500 m diameter.

Follow-Up Diamond Drill Program

The follow-up program consists of up to 4 diamond drill holes, including two priority drillholes of ~850 - 900 m depth, is summarized as follows:

• Hole 1 (REC-01) (refer figure 1) is orientated along a northeast-southwest geological section, proximate to the historical P8A (Inmet) and PIU16-DDH01 (Anglo) drillholes and designed to extend the depth of known mineralization at the southwestern edge of Piuquenes Central porphyry.
• Hole 2 (REC-02) (refer figure 2) is orientated along an east-west section, proximate to the historical P4 and P2 drillholes (Inmet) and designed to test the lateral extension of the mineralized body, primarily along the western edge of the Piuquenes Central porphyry.
• A 3rd and possibly a 4th hole will focus on extending known depth to the northeast and southeast edges of the Piuquenes Central mineral body and seek to validate a potential mineral column of 1,000 m depth and 300 - 500 m diameter.

Joseph van den Elsen, the Company's President and CEO, stated: "We are pleased to have swiftly commenced the first of an aggressive, multi-campaign exploration program testing the Piuquenes Project's exceptional potential. We now look forward to driving significant shareholder value over the short, medium, and long-term as we first test the depth and lateral extension of the reported high-grade intervals of open mineralization at Piuquenes Central (558.2 m @ 0.38% Cu, 0.42 g/t Au & 2.4 g/t Ag (0.73% CuEq)* incl. 130 m @ 0.81% Cu, 0.6 g/t Au & 4 g/t Ag (1.31 % CuEq)* -, and thereafter Piuquenes East and other targets from our growing pipeline."

Figures 1 & 2: Piuquenes Central Schematic Cross Sections