Pan American Energy Reports Final Bathymetric Results from Tharsis Project, Northwest Territories

Rhea-AI Summary

Pan American Energy (OTC:PAANF) reported completion of final bathymetric processing from its Tharsis Project field program in the Northwest Territories on Dec 30, 2025. The September 2025 survey of Squalus Lake collected approximately 17,500 depth measurements along east–west traverses spaced ~100 metres and incidental boat tracks. Data were cleaned, interpolated into a continuous digital elevation model (DEM), and integrated with 2023 airborne magnetic data to define basin geometry, shallow shoals, and deeper troughs. The DEM establishes depth constraints to support safe winter ice-based drilling planning and will be used with geological and geophysical datasets to refine drill targeting at Tharsis.

Positive

• 17,500 depth measurements collected in Sep 2025
• DEM integrated with 2023 airborne magnetic dataset
• Traverse spacing ~100 metres giving dense coverage
• DEM provides depth constraints for winter drilling

Negative

• Limited survey gaps in shallow, boulder-dominated areas restricting access

Survey Results Refine Lake-Floor Geometry And Support Winter Drill Planning At Tharsis Project

CALGARY, Alberta, Dec. 30, 2025 (GLOBE NEWSWIRE) -- Pan American Energy Corp. (CSE: PNRG | OTC: PAANF | FRA: SS6) (“Pan American” or the “Company”) is pleased to report the completion of final bathymetric processing from the 2025 field program at the Tharsis Project in the Northwest Territories. The work provides a supportive dataset in advance of planned future drilling activities.

The bathymetric survey was conducted across Squalus Lake during September 2025 and resulted in the collection of approximately 17,500 depth measurements across the boat-accessible portions of the lake. Data were acquired along east-west traverse lines spaced at roughly 100 metres, with additional incidental measurements collected during routine watercraft travel, increasing overall data density (see Figure 1).

Survey coverage was continuous across most of the lake basin, with limited gaps in shallow, boulder-dominated areas where low water conditions restricted access. Following acquisition, the bathymetric point cloud was cleaned and interpolated into a continuous digital surface model (see Figure 2). The final clipped digital elevation model (DEM) captured lake-floor depth and has been integrated with existing airborne magnetic data (see Figure 3). The resulting dataset successfully defines the basin geometry, identifying shallow shoals and deeper troughs.

Adrian Lamoureux, CEO of Pan American Energy, commented: “This bathymetric dataset improves our readiness for winter exploration at Tharsis, helping to reduce uncertainty around lake depths and potential ice-based access for drill rigs.”

The completed bathymetric model establishes depth constraints for safe winter operations and will be used alongside geological and geophysical datasets as Pan American continues to refine drill targeting and evaluate near-term exploration scenarios at the Tharsis Project.

Figure 1. Location of the survey points (point depth in meters).

Figure 2 Three-dimensional view of the Squalus Lake DEM.

Figure 3 Squalus Lake DEM overlaid with 2023 magnetic data.

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 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 exploration and other plans with respect to its mineral properties, including, but not limited to plans for future drill programs, 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.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7c8d0579-00a8-4cb8-bfa6-9d6509d75072
https://www.globenewswire.com/NewsRoom/AttachmentNg/89a6a0f0-793a-4e21-a70c-94a856d7919f
https://www.globenewswire.com/NewsRoom/AttachmentNg/50357654-989d-4387-b530-b48618262b90

 

FAQ

What did Pan American Energy (PAANF) report for the Tharsis Project on Dec 30, 2025?

Completed final bathymetric processing for Squalus Lake, collecting ~17,500 depth points and producing a DEM to support winter drilling.

How will the Dec 2025 bathymetric DEM affect PAANF winter drilling plans?

The DEM establishes lake-floor depth constraints to assess safe ice-based access and refine drill rig placement.

When were the Squalus Lake depth measurements for PAANF taken?

Depth measurements were acquired during September 2025 across boat-accessible portions of Squalus Lake.

How dense was the bathymetric survey at the Tharsis Project (PAANF)?

Data were acquired along east–west traverse lines spaced roughly 100 metres, plus incidental boat-track measurements.

Did Pan American (PAANF) combine bathymetry with other geophysical data for Tharsis?

Yes; the final DEM was integrated with the company’s 2023 airborne magnetic data to define basin geometry.

Are there any areas not covered by the PAANF bathymetric survey?

Yes; limited gaps exist in shallow, boulder-dominated zones where low water restricted boat access.