Pampa Metals Drilling Confirms Porphyry System at the Buenavista Target, Chile

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIRA)(OTCQB:PMMCF) is pleased to provide an update on the progress of diamond drilling designed to test coincident geological, geochemical, and geophysical anomalies on its 100% owned Buenavista target located along the world's pre-eminent porphyry copper belt in northern Chile

Highlights - Buenavista Target Drilling:

Three diamond drill holes for 1,957 metres completed. Core processing in progress with assay results expected by end June.
Hydrothermal alteration and mineralisation indicative of the upper epithermal, in transition to a porphyry copper system (or systems), was intersected in all three holes.
Intermediate argillic and sericite alteration typical of the peripheral parts of porphyry systems and associated with several narrow intercepts of copper sulphides comprising enargite, some chalcopyrite, and traces of chalcocite occur. Pyrite is common as disseminations and in breccias, with molybdenite common in hole BV01-2023. Quartz veinlets are variable, but intense on occasions. Narrow sulphide-rich breccias and quartz-sulphides veins, together with narrow, granodiorite dykes, occur in holes BV02-2023 and BV03-2023.
Current interpretation is that the dacite porphyry and quartz-veinlet stockwork zone targeted by BV01-2023 represents a separate porphyry centre to the quartz-sulphide breccia zone including early-stage inter-mineral dykes cut by holes BV02-2023 and BV03-2023.
A main-stage inter-mineral porphyry source is interpreted to lie beneath, or to the side of holes BV02-2023 and BV03-2023, with a separate source likely to the north of BV01-2023.

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

"The Buenavista target displays many characteristics indicative of a large, fertile, Tertiary aged, porphyry copper-molybdenum-gold system and we are very pleased to have successfully demonstrated this potential in the recently completed three-hole scout drilling program. Detailed geological logging and sampling together with complementary studies including petrography of key alteration types is in progress, and we look forward to updating the market following receipt and interpretation of assays."

Buenavista Drilling Program:

Drill hole BV01-2023, collared on the dacite porphyry with quartz veinlet stockwork in the Buenavista porphyry alteration zone, cut the previously dated Early Tertiary (+/- 60 Ma) dacite porphyry intrusion with variable quartz veining and visible pyrite-molybdenite disseminations, prior to entering Paleozoic granite country rocks with early porphyry phase quartz-magnetite veining and breccias at depth. BV01-2023 was completed to a vertical depth of 553m. As BV01-2023 exited the dacite porphyry at 475m depth, it is interpreted that the porphyry is tilted to the north with its likely roots coincident with an IP chargeability anomaly which is located 750m north of the hole collar position.
Drill hole BV02-2023 was collared 450m west of hole BV01-2923 on a mapped quartz-sulphide breccia zone with visible copper oxides at surface. Drilling intersected Paleozoic aged rhyolite volcanic and granite batholithic rocks crosscut by a series of quartz-sulphide (pyrite-enargite) veins and thin granodiorite dykes with porphyry style quartz veining, pervasive phyllic alteration, and visible pyrite-chalcopyrite (+/- molybdenite) disseminations. This series of dykes and veins is currently interpreted to represent a Tertiary-aged, early inter-mineral phase of a porphyry system. Hole BV02-2023 was completed to a down-hole depth of 670m, angled at 60° to the southwest.
Drill hole BV03-2023 was collared from the same platform as hole BV02-2023 and drilled at a steeper angle to target the interpreted source of the narrow granodiorite dykes intersected in hole BV02-2023. Similar geology to that seen in hole BV02-2023 was intersected. Hole BV03-2023 was completed to a down-hole depth of 734m, angled at 80° to the southwest.

Buenavista - Drill Hole BV02-2023

Quartz Vein with Coarse Disseminations of Pyrite-Chalcopyrite

Hydrothermal Breccia with Sulphides and Sericite

Pampa Metals Corp., Monday, June 5, 2023, Press release picture

Buenavista Target - Section 7205000N - Showing Completed Drill Holes over IP Chargeability, 3D Magnetics, and Geological Interpretation (ordered top-bottom)

About the Buenavista Target

Buenavista displays characteristics indicative of a large, fertile, Tertiary aged, porphyry copper-molybdenum-gold system, located along the world's preeminent porphyry copper belt in northern Chile;
Intense, sub-cropping, quartz-veinlet stockwork occurs at Buenavista within a dacite porphyry and interpreted phreatomagmatic breccia complex, flanked by a quartz-sulphide breccia to the west and skarn-type mineralization to the east, and is coincident with key geochemical and geophysical anomalies;
Anomalous soil and trench geochemical values of copper, molybdenum, and gold (and other pathfinders) in a heavily supergene leached desert environment, coincide with mapped geology, hydrothermal alteration, magnetic and induced polarisation (IP) geophysical anomalies, and other complementary data including 3D modeling and age dating;
The Buenavista Target footprint comprising geological, geochemical, and geophysical anomalies is approximately 1.5 km E-W by 1 km N-S along a significant geological structure;
The presence of several other geophysical anomalies under post-mineral covered portions of the broader project is suggestive of a potential "cluster" of porphyry copper-molybdenum-gold systems, a characteristic typical of some major porphyry copper districts in Chile and worldwide.

Buenavista - Location Along Domeyko Cordillera Porphyry Copper Belt

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 which wholly owns a 47,400 hectare portfolio of seven projects highly prospective for copper, molybdenum and gold located along proven and highly productive mineral belts in Chile, one of the world's top mining jurisdictions. The Company is actively advancing its projects through systematic exploration and drill testing of the highest priority targets, with a current focus on the Buenavista Project.

The Company's vision is to create significant value for shareholders and stakeholders through the application of its technical and commercial expertise towards exploring for a major copper discovery along the prime mineral belts of Chile. For more information, please visit Pampa Metals' website at www.pampametals.com.

Qualified Person

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

Note: The reader is cautioned that Pampa Metals' projects are early-stage exploration projects, and reference to existing mines and deposits, or mineralization hosted on adjacent or nearby properties, is not necessarily indicative of any mineralization on Pampa Metals' properties.

ON BEHALF OF THE BOARD
Joseph van den Elsen | President & CEO

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

Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENT

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Pampa Metals expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects" and similar expressions, or that events or conditions "will" or "may" occur. These statements are subject to various risks. Although Pampa Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results may differ materially from those in forward-looking statements.

SOURCE: Pampa Metals Corp.

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Pampa Metals Intersects 304m at 1.07% CuEq* incl. 132m at 1.45% CuEq* from First Drillhole at the Piuquenes Porphyry Project, Argentina

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to report assay results for the upper 502 meters of diamond drillhole PIU-01 (refer figure 1) which was recently completed to a depth of 867m at the Company's Piuquenes Central porphyry target located in San Juan Province, Argentina. Assay results for the upper 502m section of hole PIU-01 include

304m @ 0.48% Cu, 0.68 g/t Au, 3.1 g/t Ag (1.07% CuEq)* (from 198 m);
- including 132 m @ 0.71% Cu, 0.85 g/ Au, 4.3 g/t Ag (1.45% CuEq)* (from 220m); and
- including 34 m @ 0.60% Cu, 0.93 g/t Au, 3.6 g/t Ag (1.38% CuEq)* (from 468m).

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Hole PIU-01, designed to extend Cu-Au mineralization to depth on the southwestern margin of the Piuquenes Central porphyry, intersected a 160m zone of supergene copper enrichment between 220m and 380m downhole, coincident, and overlapping with primary mineralization from 350 meters. Strong primary mineralization associated with intense porphyry A type quartz stockwork veining is evident from 350m to approximately 650m. From 650m to the end of hole at 867m quartz veining and mineralization continues, becoming progressively less intense with depth. From 830m disseminated hematite/specularite-pyrite-chalcopyrite mineralization is hosted in volcanic host rocks outside the porphyry intrusive and remains open at depth.

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Pampa Metals Intersects Thick Supergene Copper Enrichment Blanket and Extends Primary Cu-Au Mineralization to Depth at Piuquenes, San Juan Province, Argentina

Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to report that drilling to test for lateral and depth extensions below previous high grade porphyry copper-gold intersections at the Piuquenes Cu-Au porphyry project has successfully intersected wide intervals of both secondary and primary mineralization. Excellent progress is being made and drilling is continuing

Diamond drillhole PIU-01 (refer figure 1), designed to extend Cu-Au mineralization to depth on the southwestern margin of the Piuquenes Central porphyry, intersected a 160m thick zone of supergene copper enrichment between 220m to 380m downhole, coincident and overlapping with primary mineralization from 350 meters. PIU-01 has been plotted to approximately 900 meters downhole depth, with primary mineralization continuing from 350m to the current hole depth of approximately 600m.

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Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to advise that a total of 7,105,586 share purchase warrants issued on November 10, 2022 (the "2022 Warrants") and March 2, 2023 (the "2023 Warrants"), have been exercised, realizing gross proceeds of $729,741.2022 and 2023 Warrants

The exercise price of 1,708,588 2022 Warrants and 5,857,734 2023 Warrants (7,566,322 total) was reduced to $0.095 and $0.105 in September and October of 2023 respectively (see news releases dated September 22, 2023 and October 23, 2023) and, in accordance with the policies of the Canadian Stock Exchange ("CSE"), the expiry date accelerated upon the Company's common shares closing at or above $0.125 in the case of the 2022 Warrants and $0.13 in the case of the 2023 Warrants, for a period of at least 10 consecutive trading days. This condition was met on December 14, 2023, and as a result, the expiry date of the 2022 Warrants and the 2023 Warrants outstanding was accelerated to January 23, 2024.

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

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIRA)(OTCQX:PMMCF) is pleased to advise 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

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/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

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FPX Nickel Announces Expansion to Generative Alliance with JOGMEC

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Highlights

Global Generative Alliance budget increased from initially planned $650,000 to $1,500,000 for Year Two
Through ongoing evaluations in five international and three Canadian jurisdictions, the Generative Alliance program remains on track to define Designated Projects to be joint ventured by FPX and JOGMEC starting in Year Two
The Generative Alliance program has staked approximately 120 km ² of prospective ground in British Columbia

"We are pleased with our progress during Year One of our Generative Alliance with JOGMEC and look forward to increasing momentum through a significantly expanded Year Two budget," commented Andrew Osterloh , FPX's Senior Vice-President of Projects and Operations. "Our shared vision of realizing new globally significant awaruite nickel deposits remains resolute, and with ongoing evaluations in multiple Canadian and International jurisdictions, we are on track to achieve our shared objective of defining Designated Projects starting in Year Two."

A JOGMEC representative commented: "JOGMEC has decided to increase funding for Year Two activities with a view to identifying significant new awaruite deposits, which could be a globally significant, low-carbon, source of nickel for the electric vehicle battery supply chain toward the realization of a carbon-neutral society."

In April 2023 , FPX and JOGMEC initiated a Generative Alliance to carry out mineral exploration activities for the identification and acquisition of high-quality awaruite nickel targets on a worldwide basis. Under the terms of the agreement, JOGMEC funded 100% of the $650,000 budget in Year One (covering the year ended March 31, 2024 ) and will fund 100% of the first $650,000 budgeted for Year Two (for the year ended March 31, 2025 ).

Building on Year One progress and the positive results of work completed to-date, FPX and JOGMEC have agreed to expand the Year Two budget to a total of $1,500,000 . Under the terms of the agreement for Year Two, after JOGMEC has funded a cumulative total of $1,300,000 , the parties will fund ensuing exploration activities on pro-rata basis (FPX 40% and JOGMEC 60%).

Subject to agreement between FPX and JOGMEC, one or more specific targets identified by the Generative Alliance may be advanced to a second phase to be further developed as a separate designated project (" Designated Project "). Each Designated Project will have its own work program and budget with the objective, of testing and further developing the identified targets. For each Designated Project, JOGMEC and FPX will respectively fund 60% and 40% for approved work programs.

During Year One of the Generative Alliance, FPX's exploration team conducted evaluations and/or sampling programs in five international and three Canadian jurisdictions. With multiple evaluations ongoing, and further prospective opportunities identified, the program is on track to identify Designated Projects in its second year.

Representing the first ground staked under the Generative Alliance, the Company is pleased to announce the acquisition of approximately 120 km ² of new mineral claims in British Columbia. This staking was based on historic sampling by FPX coupled with updated geological interpretation based on FPX's learnings at Baptiste.

The Company is currently strategizing on additional mineral tenure acquisitions within British Columbia , elsewhere in Canada , and in multiple international jurisdictions across multiple continents; one or more of such land packages may ultimately be selected as a Designated Project under the terms of the Generative Alliance. As and when Designated Projects are confirmed, FPX will provide additional disclosure regarding the location and planned work programs for such Projects.

Keith Patterson , P.Geo., FPX's Vice President, Generative Exploration, FPX's Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this news release.

About the Decar Nickel District

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni ₃ Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 245 km ² west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of the Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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Northern Dynasty: USACE Updates the Pebble Permitting Process in Light of the EPA Veto

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Pampa Metals Drilling Confirms Porphyry System at the Buenavista Target, Chile

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