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VANCOUVER, BC / ACCESSWIRE / July 11, 2024 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to announce that it has issued 12,581,291 units (Units") at a price of $0.27 per Unit for gross proceeds of $3,396,950 ("Proceeds") under the Fully Subscribed Private Placement detailed in a 26 June 2024 News Release ("Private Placement"). Each Unit consists of one fully paid common share and a half purchase warrant. Each whole warrant (a "Warrant") shall entitle the holder to acquire an additional common share at a price of $0.50 for a period of 3 years after the closing of the Private Placement.

A Form 62-103F3 Required Disclosure by an Eligible Institutional Investor has been filed on SEDAR in connection with the Private Placement.

Proceeds will fund continuing exploration at the Piuquenes Copper-Gold Porphyry Project, where the Company recently reported results from the third drillhole of its maiden program (refer 23 May 2024 News Release) including:

• 801 m @ 0.40% Cu, 0.51 g/t Au, 2.87 g/t Ag (from 54 to 855m (EOH))

  • including 518 m @ 0.53% Cu, 0.73 g/t Au, 3.45 g/t Ag (from 192 to 710)

  • including 176 m @ 0.71% Cu, 0.74 g/t Au, 4.86 g/t Ag (from 192 to 368)

  • including 64 m @ 0.75%, 1.2 g/t Au, 4.60 g/t Ag (554 to 618m)

  • including 32m @ 0.64% Cu, 0.71 g/t Au, 4.54 g/t Ag (642 to 674m)

In connection with the Private Placement, the Company paid aggregate finder's fees of $176,580 and issued 654,000 finder's warrants.

The Company anticipates closing a final tranche of the Private Placement for $150,000 on 15 July 2024.

Any securities issued in connection with the Private Placement are subject to a four-month hold period, in accordance with securities laws and the policies of the Canadian Securities Exchange.

ON BEHALF OF THE BOARD & INVESTOR CONTACT

Joseph van den Elsen | President & CEO | Joseph@pampametals.com

ABOUT PAMPA METALS

Pampa Metals is a copper-gold exploration company listed on the Canadian Stock Exchange (CSE:PM), Frankfurt (FSE:FIR), and OTC (OTCQB:PMMCF) exchanges.

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.

Qualified Person

Technical information in this news release has been approved by Mario Orrego G. Mr. Orrego G. is a Geologist, a Registered Member of the Chilean Mining Commission and a Qualified Person as defined by National Instrument 43-101. Mr. Orrego G. is a consultant to the Company.