Pampa Metals Reports 130m From 362m @ 1.31% CuEq*, Within a Broader Interval of 558m From 362m @ 0.73% CuEq* Which Remains Open at Depth

Pampa Metals Corp. ("PMC" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to announce the assay results from the PIU16-DDH01 diamond drillhole (920.2 m) completed at the Piuquenes Project in the 2015-2016 season (refer 30 November 2023 News Release

Results include:
- 558.2 m (362-920.2 m EOH) @ 0.38% Cu & 0.42 g/ Au & 2.4 g/t Ag (0.73% CuEq)*
Including:
- 296 m (362-658 m) @ 0.5 % Cu & 0.5 g/t Au & 2.7 g/t Ag (0.91% CuEq)*,
- 180 m (362-542 m) @ 0.71% Cu & 0.61 g/t Au & 3.8 g/t Ag (1.22% CuEq)* and
- 130 m (362-492 m) @ 0.81% Cu & 0.6 g/t Au & 4 g/t Ag (1.31 % CuEq)*

PIU16-DDH01 Diamond Drillhole (920.2 m) - (refer 30 November 2023 News Release).
As part of its Due Diligence and data validation of the Piuquenes Project, the Company relogged the PIU16-DDH01 borehole which had crossed the mineral intersections discovered by Inmet in 1995-1997 (refer 30 November 2023 News Release). A 558 m (362-920.2 m) section was sent to ALS Mendoza for Au fire 30 gram Au fire assay (Au-AA23) and ICP multi-element 4-acid digestion (ME-MS61) assays. Following review and interpretation of the assay results and a thorough Qa/Qc process, the Company is pleased to report a significant section of copper-gold-silver mineralization of:

• 558.2 m (362-920.2 m EOH) @ 0.38% Cu & 0.42 g/ Au & 2.4 g/t Ag (0.73% CuEq)*
Including:
• 296 m (362-658 m) @ 0.5 % Cu & 0.5 g/t Au & 2.7 g/t Ag (0.91% CuEq)*,
• 180 m (362-542 m) @ 0.71% Cu & 0.61 g/t Au & 3.8 g/t Ag (1.22% CuEq)* and
• 130 m (362-492 m) @ 0.81% Cu & 0.6 g/t Au & 4 g/t Ag (1.31 % CuEq)*

The re-logging and interpretation of the assays indicates that primary mineralization is related to Cu-Au porphyry hosted quartz veins and remains open at depth. The shallow overlay is associated with supergene enrichment, with some copper oxides observed at surface.

Image 1: A-type quartz veining associated with pink quartz-feldK interstitial intergrowth affecting diorite porphyry

Image 2: A-type quartz veinlet with chalcopyrite and some grade of secondary enrichment at PIU16-DDH01

Qa/Qc procedure - PIU16-DDH01 Diamond Drillhole

Assay of the PIU16-DDH01 drillhole was based on samples of 2m intervals initially cut by Anglo-American Argentina at the drill platform using a hydraulic press. As part of Pampa Metals' data validation and due diligence, 8 batches of between 16 and 50 samples each were sent to ALS Mendoza for Au fire 30 gr (Au-AA23) and multi-element ICP 4 -acids (ME-MS61) assays. The Qa/Qc control protocol included twinned samples, coarse-grained and fine-grained duplicates, coarse quartz blanks and two types of standards, which together represented 20% (57 samples) of the 279 associated drillhole samples.

Results of the Qa/Qc procedure confirm that the samples pass the duplicate, blank and standard controls. In the case of duplicates, samples are well distributed on a linear correlation curve with only gold showing some variability, possibly due to the presence of coarse gold.

Image 3: Piuquenes Drill Core and Assays. October 2023

Piuquenes Porphyry Copper-Gold Project

The Piuquenes Project consists of nine mining titles that cover an area of ~1,880 ha in the San Juan Province of Argentina, adjacent (to the north) with the Altar copper-gold porphyry project (Aldebaran Resources Inc.) and approximately 190 km west of the city of San Juan. Other large porphyry copper projects in the San Juan Miocene porphyry belt include, El Pachón (Glencore), approximately 30 km to the south, the operating Los Pelambres copper mine (60% Antofagasta plc) in Chile, and Los Azules (McEwen Mining) 50 km to the northeast.

The first evidence of copper oxides at Piuquenes was reported in 1970 by MInera Aguilar, who subsequently completed the first exploration program between 1973-1975. Between 1995 and 1997, Inmet Mining Corporation (IMC) completed a heli-magnetic/radiometric survey, surface geology, rock and soil geochemistry, ground magnetics, PD-IP and eight diamond drillholes for a total of 1,894.2m. Subsequently, in 2015-2016, Anglo American Argentina (AAA) completed detailed 1:2,500 geology and geochemistry, 17.8 km of gDAS24 deep 3D PD-IP/NSMT and a single 920.2 m diamond drill hole.

Since its discovery, the Piuquenes Copper-Gold porphyry has until now remained privately held.

Inmet Mining Corporation's (IMC, subsequently acquired by First Quantum in 2013) 8 diamond drill holes for a total of 1,894.2m intersected significant copper and gold mineralization including:
• 413.5 m (167-580.5 m) @ 0.47% Cu and 0.52 g/t Au (0.87% CuEq)*;
• 67.5 m (207-274.5 m) @ 0.63% Cu and 0.51 g/t Au (1.02% CuEq)*; and
• 158 m (3-161 m) @ 0.32% Cu and 0.6 g/t Au (0.78% CuEq)*.

In November 2023, Pampa Metals assayed and re-logged Anglo-American Argentina's (AAA) 2016 single diamond borehole of 920.2 m length which had crossed the mineral zones drilled by IMC and reported the results in this news release dated 5 December, 2023.

Follow-Up drilling

Pampa Metals has designed a diamond drill program to be completed across two drilling seasons which consists of a ~2,500 diamond Phase 1 drill program designed to test the depth and lateral extension of known mineralisation, to be completed between January - April 2024 (indicative) with assays results expected progressively between March and May 2024 (indicative).

Phase 2 consists of a six-month drill program designed to significantly expand the mineralised envelope and scheduled to commence in October 2024 (indicative).

The latest Company Presentation can be accessed at https://pampametals.com/investor/.

ON BEHALF OF THE BOARD

Joseph van den Elsen | President & CEO

INVESTORS CONTACT

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

ABOUT Pampa Metals

Pampa Metals is listed on the Canadian Stock Exchange (CSE:PM), Frankfurt (FSE: FIR), and OTC (OTCQB: PMMCF) exchanges, and wholly owns a portfolio of projects highly prospective for copper, molybdenum, and gold along proven and highly productive mineral belts in Chile, the world's largest copper producer.

In November 2023, the Company announced it had entered into an Option & JV 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, 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.

* %CuEq values are calculated based on copper and gold metal prices: Cu = US$3.20/lb, Au = US$1,700/oz and Ag = US$ 20/oz. The formula utilized to calculate %CuEq is: Cu Eq Grade (%) = Cu Head Grade (%) +

pm:cc cse:pm base metals investing Base Metals Investing

PM:CC

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).

Assays results from 502m to 867m (End Of Hole) are expected shortly.

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Pampa Metals Intersects Wide Interval of Copper Mineralization at Piuquenes, Argentina

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to report that diamond drillhole PIU-01 (refer figure 1) was completed at a downhole depth of 867m. First assay results are expected shortly. Drillhole PIU 02, the second hole of the current program, has commenced

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 Announces Warrant Exercise

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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Vertex Minerals Limited Update on Reward Commissioning

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce that it has completed commissioning of the ore sorting module of the Reward Gold Mine ahead of schedule, with final commissioning works on the gravity gold room circuit continuing.

Vertex's Executive Chairman, Roger Jackson commented: "The ore sorter is exceeding our expectations and has been integrated into our gravity plant circuit perfectly. Its pleasing to see this plant up and running with only the minor tweaks to be undertaken by the Gekko commissioning team to move the plant to nameplate operation. We are looking forward to capitalising on this robust gold market."

HIGHLIGHTS:

- Ore sorter pre concentrator commissioning now complete at the Hill End gravity gold plant. Reward gold mine ore sorts perfectly, with 79% mass reduction and 337% increase in gold grade in the 8mm to 50mm range. (refer to VTX ASX announcement 11 of September 2024).

- TOMRA's LASER sorting technology (Sorter) separates gold bearing quartz ore from waste (slate & greywacke) before it enters the processing plant. Refer to Figure 1*.

- Commissioning of the gravity plant is ongoing with some further components being introduced to the plant to improve performance.

- Gold concentrate is now being produced and reporting to the concentrate hopper ready for tabling in the gold room.

- Training of Vertex operators by Gekko Technicians is progressing well.

- The plant recycles a significant amount of process water and an increasing volume of fines that builds up in process water while running continuously has been experienced during the commissioning process. The build-up of this fine material reduces the efficiency of the classifying process and impacts on plant throughput. Vertex is installing a slurry classifier and a prescreening scalper to reduce this buildup of fine material in process water. Vertex believes that the increased presence of fine material in the stockpiles is a result of weathering of the rock over time. Vertex and Gekko are working through this issue and Vertex expect to announce first commercial production shortly.

- The Wilfley table, used for increasing the grade of gold in concentrate is undergoing some minor modifications to improve efficiency of concentrate handling. A Gemini table will also be installed this week to provide a cleaner final concentrate.

- Vertex have the option to sell gold in concentrate or dore bars, by nature of the gravity process at this plant.

- Vertex is moving toward the commencement of underground mining with the ordering of a development jumbo and procurement longer lead time of plant and equipment.

The inclusion of ore sorting technology positively impacts on the sustainability and profitability of Vertex's Reward Gold Mine by:

- Providing significantly higher-grade ore to the gravity recovery plant, reducing feed tonnage, plant running time and operator hours;

- Reducing energy & water consumption, with

- lower operating costs and

- reduced carbon footprint.

Sorting also significantly reduces the volume of process residue (sand) leading to further ESG benefits and cost savings.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/J5G7G2NF

About Vertex Minerals Limited:

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

Source:
Vertex Minerals Limited