Pan American Energy Mobilizes Field Crews to the Tharsis Project

Rhea-AI Summary

Pan American Energy (OTC: PAANF) has begun mobilizing field crews, personnel and equipment for its winter drilling program at the Tharsis Project in Northwest Territories, Canada, with drilling to begin after site setup and operational readiness.

The company said mobilization covers logistics, camp services and technical preparation; scientific content was reviewed by a Qualified Person under NI 43-101.

News Market Reaction – PAANF

-3.14%

1 alert

-3.14% News Effect

On the day this news was published, PAANF declined 3.14%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Pan American advances toward commencement of winter drilling at Tharsis

CALGARY, Alberta, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (CSE: PNRG | OTC: PAANF | FRA: SS6) (“Pan American” or the “Company”) is pleased to announce that mobilization is underway for the Company’s winter drilling program at the Tharsis Project (the “Project”), located in the Northwest Territories, Canada. Mobilization activities include the movement of personnel and equipment to site, establishment of field logistics and camp services, and preparation for drilling and supporting technical work; drilling is expected to commence following completion of site setup and final operational readiness.

“Mobilization is an important milestone for the Tharsis Project and moves us closer to the start of drilling,” said Adrian Lamoureux, Chief Executive Officer of Pan American Energy. “With access and logistics coming together, we are positioned to execute the program efficiently and take the next step in advancing the opportunity at Tharsis.”

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.

FAQ

What mobilization did Pan American Energy (PAANF) announce for Tharsis on February 19, 2026?

Pan American announced mobilization of personnel, equipment, logistics and camp services to Tharsis. According to the company, these activities prepare the site for winter drilling once setup and final operational readiness are complete.

When will drilling at the Tharsis Project (PAANF) start after the February 19, 2026 mobilization?

Drilling is expected to start after completion of site setup and operational readiness. According to the company, drilling will commence following final readiness checks, with no specific drill date provided.

What work is included in Pan American Energy's mobilization to Tharsis (PAANF)?

Mobilization includes movement of personnel and equipment, establishment of field logistics and camp services, and technical preparations. According to the company, these steps are intended to enable efficient execution of the winter drilling program.

Who verified the technical content in Pan American Energy's Tharsis announcement (PAANF)?

The technical content was reviewed and approved by Jared Suchan, Ph.D., P.Geo., as the Qualified Person. According to the company, he verified the scientific and technical information under NI 43-101 standards.

Does Pan American Energy (PAANF) provide QA/QC details for Tharsis mobilization and data verification?

The company refers readers to its most recently filed technical report for QA/QC and data verification details. According to the company, that report is available under its profile on the national filing system referenced in the announcement.

How did Pan American Energy describe the significance of mobilization for Tharsis (PAANF)?

The company described mobilization as an important milestone that moves the project closer to drilling. According to the company, access and logistics are coming together, positioning the team to execute the program efficiently.