Pan American Energy Announces Change in Board of Directors and Advisory Team and Equity Incentive Issuances

Board of Directors Update

As the result of a board update, Pan American has appointed William Gibbs to the Board of Directors, effective November 10, 2022.

William Gibbs brings to Pan American's board more than 17 years of expertise in leading teams and business development with a focus on oil and gas and mining in Canada and the United States. He has served as a senior executive consultant and strategic advisor for multi-industry business operations.

Mr. Gibbs said, "I am honoured to have the opportunity to serve on the Board to help deliver Pan American's mission of expanding the boundaries of the North American lithium supply chain. I look forward to supporting the Company in their exploration efforts, commercialization strategy, and technology partnerships."

"We are pleased to welcome an executive of Mr. Gibbs' caliber to the Board," said Jason Latkowcer, Chief Executive Officer. "We believe the Board will recognize immediate benefits from Mr. Gibbs' business acumen, mining technology expertise and network in both Canada and the United States."

Concurrent with Mr. Gibb's appointment, Eli Dusenbury will step down from the Board. "On behalf of the entire Board and management team, I would like to thank Eli for his service," said Latkowcer. "We are grateful for his valuable contributions through the Company's listing process, multiple property acquisitions, and recent capital raise that created the company we are today. We wish him all the best in his future endeavors."

Advisory Team

Pan American also announces that is has contracted Foster Wilson to serve as a member of the Company's advisory team effective November 15,^, 2022. Mr. Wilson is a geologist with over 30 years of experience. Mr. Wilson has significant experience in the generation and development of lithium claystone and brine exploration projects. Mr. Wilson serves as a director of TSX Venture Exchange listed Alpha Lithium Corp. and Atomic Minerals Corp. (TSX:V:ATOM).

"Foster Wilson's experience with Pan American's US asset base is second to none," comments Jason Latkowcer. "Mr. Wilson will add incredible bench strength to our technical advisory team. We are fortunate to have a geologist with his track record who can assist with our exploration work with RESPEC at the Green Energy Project in Utah and the Horizon Lithium Project in Nevada on an as-needed basis."

Equity Incentive Issuances

Pan American also announces that it has granted 250,008 restricted share rights ("RSRs") and 200,000 stock options ("Options"), each with an exercise price of $0.71 to Mr. Gibbs in connection with his appointment to the board of the Company, and an aggregate of 850,000 RSRs to certain consultants of the Company. The RSRs and Options granted to Mr. Gibbs shall vest in quarterly installments of 20,834 RSRs and 50,000 Options beginning on January 31, 2023. The RSRs granted to the consultants of the Company vest immediately. Each vested RSR entitles the holder to receive one common share of the Company. Each vested Option, upon payment of the exercise price, entitles the holder to receive one common share of the Company. The Options granted to Mr. Gibbs expire on November 10, 2027.

About Pan American Energy Corp.

Pan American Energy Corp. (CSE: PNRG) (OTC PINK: PAANF) (FSE: SS6) is an exploration stage company engaged principally in the acquisition, exploration and development of mineral properties containing battery metals in North America.

The Company's flagship asset is the 100% owned Green Energy Lithium Project, located in the Paradox Basin, Utah, USA. The Company has also entered a property option agreement with Horizon Lithium LLC with the right to acquire 100% interest in the Horizon Lithium Project, located within the Clayton Valley - Tonopah Lithium Belt, Nevada, USA.

The Company executed an option agreement in Canada with Magabra Resources with the right to acquire up to 90% interest in the drill-ready Big Mack Lithium Project, 80 km north of Kenora, Ontario.

On Behalf of the Board of Directors
Jason Latkowcer
CEO & Director

Contact
Phone: (585) 885-5970
Email: info@panam-energy.com

Forward-Looking Statements

The Company ??provides forward-looking statements for the purpose of conveying information about current ??expectations and plans relating to the future and readers are cautioned that such statements may not be ??appropriate for other purposes. By its nature, this information is subject to inherent risks and ??uncertainties that may be general or specific and which give rise to the possibility that expectations, ??forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not ??be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and ??uncertainties include but are not limited those identified and reported in the Company's public filings ??under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify ??important factors that could cause actual actions, events, or results to differ materially from those ??described in forward-looking information, there may be other factors that cause actions, events or ??results not to be as anticipated, estimated or intended. There can be no assurance that such information ??will prove to be accurate as actual results and future events could differ materially from those ??anticipated in such statements. The Company disclaims any intention or obligation to update or revise any ??forward-looking information, whether as a result of new information, future events or otherwise unless ??required by law.?

The CSE has neither approved nor disapproved the information contained herein.