CALGARY, Alberta, May 27, 2026 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (CSE: PNRG | OTC: PAANF | FRA: SS6) ("Pan American" or the "Company") is pleased to report that detailed geological logging and core sampling from its 2026 diamond drilling program at the Tharsis Project in the Northwest Territories have now been completed, and samples have been submitted to ALS for geochemical analysis. The 2026 drill campaign marked the first drill testing of the Squalus Lake Alkaline Complex ("SLAC"), with 464.5 metres of diamond drilling completed across five boreholes, including TH26-001 (107 m), TH26-002 (98 m), TH26-003 (153.5 m), TH26-004 (44 m), and TH26-004A (62 m). The program focused on the northern intrusive center, a priority target area within the complex identified through geophysical interpretation and geomorphological observations.
The drilling program was designed to evaluate the northern intrusive center, a priority carbonatite-related target within the SLAC interpreted from magnetic, geochemical, and bathymetry data. The target area was prioritized in part because the deepest part of Squalus Lake coincides with a magnetic low associated with the interpreted northern intrusive structure, a relationship considered to strengthen the geological rationale for first-pass drill testing of this part of the complex. Drill hole TH26-001 was designed as an initial proof-of-concept test of the northern part of the structure and to provide the first direct geological constraint on the targeting model. TH26-002 targeted a more complex segment along the eastern side of the intrusive center, where multiple geophysical products highlighted stronger magnetic contrast, sharper gradients, and structural complexity. TH26-003 was designed to test internal continuity and evaluate whether prospective phases extend beyond the main boundary zone into the interior of the target. TH26-004 and TH26-004A tested the broadest part of the structure.
Adrian Lamoureux, Chief Executive Officer of Pan American, commented, "With logging and sampling now complete and the drill core submitted for geochemical analysis, the Company is continuing to advance its understanding of one of the most compelling targets identified at Tharsis."
The Company will provide further updates as analytical results are received and interpreted.
Qualified Person
The scientific and technical content of this news release has been reviewed, verified, and approved by Jared Suchan, Ph.D., P.Geo., Technical Advisor to the Company and a "Qualified Person" as defined by National Instrument 43-101.
For a discussion of the Company's QA/QC and data verification procedures and processes, please see its most recently-filed technical report under the Company's profile at http://www.sedarplus.ca.
About Pan American Energy Corp.
Pan American Energy Corp. (CSE: PNRG) (OTC: PAANF) (FSE: SS60) is an exploration stage company engaged principally in the acquisition, exploration, and development of mineral properties containing battery and critical metals in North America.
The Company has executed an option agreement in Canada with Magabra Resources pursuant to which it has acquired a 75% interest in the Big Mack Lithium Project, 80 km north of Kenora, Ontario, with the right to earn an additional 15% for a total 90% interest. Pan American has also entered into an option agreement with Northern Critical Minerals Corp. to acquire up to a 100% interest in the Tharsis REE Project, located in the Northwest Territories. The project hosts the Squalus Lake Alkaline Complex, a Proterozoic-age carbonatite-bearing intrusion prospective for rare earth and high field strength elements.
On Behalf of the Board of Directors:
Adrian Lamoureux
CEO
Contact:
Phone: (587) 885-5970
Email: info@panam-energy.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding the Company's drilling, exploration and other plans with respect to its mineral properties, and the geological potential of such properties, as well as future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The CSE has neither approved nor disapproved the information contained herein.
