VANCOUVER, BC / ACCESSWIRE / April 10, 2024 / Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to report that diamond drillhole PIU-03 (refer figure 1) is making excellent progress towards its targeted downhole depth of 850 - 900m.

Hole PIU-03 is designed to extend copper-gold mineralization to depth on the northeast and southeast sides of the Piuquenes Central porphyry and to better delineate a newly identified core of strong chalcopyrite-bornite copper mineralization associated with intense porphyry quartz stockwork veining in hole PIU-02 (refer March 26 2024 News Release).

Hole PIU-03 was collared approximately 300m to the west of hole PIU-02 and drilled at an angle of 75° on a 90° azimuth. It is the third hole of a diamond core drill program designed to evaluate the Piuquenes Central porphyry copper-gold deposit from surface to approximately 1000 metres depth.

Joseph van den Elsen, the Company's President and CEO, stated: "We are making excellent progress on the third hole of our maiden drill campaign at the Piuquenes Project and eagerly await the results from the second hole, where a wide interval of copper mineralization with a bornite rich core was logged (refer 26 March 2024 News Release). We look forward to building significant shareholder value over the short, medium, and long-term as we continue to test the depth and lateral extensions of open high-grade copper and gold mineralization at Piuquenes Central (422 m @ 0.48% Cu, 0.61 g/t Au, 2.9 g/t Ag (1.00% CuEq)* incl. 132 m @ 0.71% Cu, 0.85 g/t Au & 4.3 g/t Ag (1.45 % CuEq)* - refer 18 March, 2024 News Release), and thereafter testing a second outcropping porphyry at Piuquenes East and other high potential targets in our growing pipeline."

ON BEHALF OF THE BOARD INVESTOR CONTACT

Joseph van den Elsen | President & CEO Joseph van den Elsen | [email protected]

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. Reported intervals of significant copper and gold mineralization at Piuquenes Central include:

413.5 m@ 0.47% Cu, 0.52 g/t Au (0.87% CuEq)* (167-580.5 m);

422 m @ 0.48% Cu, 0.61 g/t Au, 2.9 g/t Ag (1.00% CuEq)* (198 - 620m);

including 132m @ 0.71% Cu, 0.85 g/t Au, 4.3 g/t Ag (1.45% CuEq)* (220 - 352m);