Pink Lithium Project - ~200km2 Added to Project Area

Pan Asia Metals Managing Director, Paul Lock, said: "We're not sitting still, on the tail of positive news coming out of Chile regarding lithium exploration and development we are pleased to secure an additional circa 200km² of exploration concession applications at our Pink Lithium Project which are highly prospective for Li Brines and Li Clays following our field trip earlier in August. This is on the back of positive news out of Chile with the Government vowing to take a pragmatic approach to opening up new areas for lithium mining on a call last week with more than 400 lithium industry representatives. Chile's new public-private model will see private firms to retain control of projects in non-strategic areas (i.e. those not on Solar de Atacama or Maricunga), with the Government adopting a flexible strategy to attract the private sector to participate. Chile is looking to reverse the decline in its market share of lithium as well as looking to encourage downstream investments. Companies able to add value will have an advantage under the new model, which fits perfectly with PAM's mid-stream chemical strategy. PAM's holding in the highly prized Pampa del Tamarugal Basin has increased to 13% of the basin."

The new exploration application areas increase PAM's holdings in the highly prized Pampa del Tamarugal Basin by —200km² to —1,600km², or about 13% of the basin.