TRX Gold Corporation press release

Pan American Silver extends high-grade silver zone at the La Colorada Skarn project

2022-11-01

TSX - Toronto Stock Exchange · Gold · Canada · Drill Results

Canada NewsWire

VANCOUVER, BC , Nov. 1, 2022 /CNW/ - Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) ("Pan American" or the "Company") today released results for 45 new infill and exploration drill holes totaling 34,239 metres at the Company's 100% owned La Colorada Skarn project in Zacatecas, Mexico . The results include five new drill holes that further define a zone of high-grade mineralisation around drill hole 96-03-22 that was first disclosed by the Company in a news release dated July 21, 2022 . With the inclusion of these new drill holes, this area has been expanded to measure approximately 200 metres in diameter and up to 250 metres vertically.

"The five new drill holes extend a zone of mineralisation with silver and base metal grades considerably higher than the average grade in the mineral resource estimate for the Skarn deposit disclosed on September 14, 2022 ," said Christopher Emerson , Pan American's Vice President Business Development and Geology. "These drill holes confirm excellent grades and further drilling is planned over the coming months. In addition, step-out holes extend all three skarn zones compared to the resource estimate released in September 2022 ."

Pan American identified a high-grade zone of the La Colorada Skarn earlier in 2022, releasing the first drill results on July 21, 2022 . The zone is now defined by 13 holes, with recent highlights such as infill drill hole D-96-06-22 with 58.30 metres at 417 g/t Ag, 11.95% Pb and 9.39% Zn, including 37.25 metres at 545 g/t Ag, 15.66% Pb and 11.83% Zn and D-96-05-22 with 39.75 metres at 334 g/t Ag, 7.06% Pb and 4.02% Zn. The mineral resource estimate Pan American released on September 14, 2022 does not include these drill results because they were drilled after the cut-off date for the resource update.

Plan view of the La Colorada Skarn drill holes referred to in this news release:

[](https://mma.prnewswire.com/media/1935455/Pan_American_Silver_CorpPan_American_Silver_extends_high_grade.html)

Plan view of the high-grade silver zone:

[](https://mma.prnewswire.com/media/1935456/Pan_American_Silver_CorpPan_American_Silver_extends_high_grade.html)

Drill highlights include:

D-71-09-22: 121.80 m at 54 g/t Ag, 0.05% Cu, 1.64% Pb and 3.76% Zn, including 47.55 m at 89 g/t Ag, 0.09% Cu, 2.29% Pb and 6.22% Zn and 104.55 m at 69 g/t Ag, 0.10% Cu, 4.03% Pb and 5.76% Zn, including 32.20 m at 92 g/t Ag, 0.18% Cu, 5.15% Pb and 9.90% Zn D-95-13-22: 194.45 m at 48 g/t Ag, 0.21% Cu, 2.97% Pb and 4.26% Zn, including 77.80 m at 53 g/t Ag, 0.26% Cu, 3.41% Pb and 5.53% Zn D-96-05-22: 39.75 m at 334 g/t Ag, 0.12% Cu, 7.06% Pb and 4.02% Zn and 90.85 m at 92 g/t Ag, 0.15% Cu, 3.93% Pb and 9.08% Zn, including 56.00 m at 90 g/t Ag, 0.20% Cu, 5.43% Pb and 13.31% Zn D-96-06-22: 58.30 m at 417 g/t Ag, 0.04% Cu, 11.95% Pb and 9.39% Zn, including 37.25 m at 545 g/t Ag, 0.05% Cu, 15.66% Pb and 11.83% Zn and 37.55 m at 101 g/t Ag, 0.12% Cu, 1.15% Pb and 5.89% Zn D-96-07-22: 52.30 m at 107 g/t Ag, 0.06% Cu, 5.77% Pb and 14.58% Zn and 73.55 m at 49 g/t Ag, 0.06% Cu, 2.12% Pb and 3.07% Zn and 101.00 m at 29 g/t Ag, 0.08% Cu, 2.38% Pb and 3.42% Zn, including 37.70 m at 29 g/t Ag, 0.13% Cu, 3.27% Pb and 5.47% Zn D-96-08-22: 118.35 m at 102 g/t Ag, 0.07% Cu, 3.33% Pb and 5.14% Zn, including 85.25 m at 137 g/t Ag, 0.09% Cu, 4.26% Pb and 6.44% Zn U-103-22: 92.95 m at 220 g/t Ag, 0.16% Cu, 7.01% Pb and 7.18% Zn, including 44.40 m at 240 g/t Ag, 0.24% Cu, 11.95% Pb and 11.46% Zn U-33-22: 197.50 m at 76 g/t Ag, 0.09% Cu, 2.48% Pb and 7.21% Zn, including 109.35 m at 97 g/t Ag, 0.14% Cu, 2.63% Pb and 9.65% Zn U-53-22: 38.20 m at 87 g/t Ag, 0.24% Cu, 2.85% Pb and 8.42% Zn and 51.85 m at 40 g/t Ag, 0.06% Cu, 1.45% Pb and 3.07% Zn and 34.90 m at 47 g/t Ag, 0.19% Cu, 0.25% Pb and 5.38% Zn U-74-22: 50.40 m at 106 g/t Ag, 0.14% Cu, 4.85% Pb and 5.78% Zn, including 16.25 m at 227 g/t Ag, 0.27% Cu, 12.89% Pb and 15.71% Zn U-75-22: 32.10 m at 74 g/t Ag, 0.26% Cu, 6.49% Pb and 8.26% Zn and 66.15 m at 24 g/t Ag, 0.13% Cu, 0.31% Pb and 9.10% Zn, including 44.65 m at 33 g/t Ag, 0.17% Cu, 0.45% Pb and 10.92% Zn

The drill results disclosed today have expanded the mineralised area of the Skarn deposit. A continuous zone of high-grade mineralisation is located between the Amolillo and NC2 veins and is related to the intersection of several east-northeast faults and northwest skarn trends. The zone extends for at least 200 metres laterally and 250 metres vertically, and has been confirmed with recent infill drill holes, including: D-96-05-22, D-96-06-22, D-96-07-22, D-96-08-22 and U-103-22. This zone is defined by a nominal drill hole intercept spacing of 30 metres.

The Central 901 mineralised zone has been extended 250 metres southeast by new drill holes: D-95-13-22, D-95-14-22, D-95-15-22, D-90-06-22, D-90-07-22, D-09-01-22, D-09-02-22, and D-90-03-22.

The East 903 mineralised zone has been extended 100 metres south by drill holes: D-29-01-22, D-29-02-22, D- 29-03-22 and S-29-22. Drill hole D-95-13-22 contains 194.45 metres of 48 g/t Ag, 2.97% Pb and 4.26% Zn. The East mineralised zone also has been extended 200 metres to the northeast by new infill and extension drill holes: D-62-08-22, D-62-09-22, D-62-10-22 and D-62-11-22.

The West 902 mineralised zone has been extended 200 metres to the north by surface drill holes S-63-22 and D-63-01-22.

La Colorada Skarn - summary of drill results

The following table provides the drill results for the La Colorada Skarn deposit for the third quarter of 2022.

Previous drill results not included in this table have been disclosed in Pan American's news releases, which are available, together with cross sections, plans and images of the skarn mineralised core, on our website at:

https://www.panamericansilver.com/operations/exploration/la-colorada-skarn/ .

| Hole No. | From (m) | To (m) | Interval (m) (1) | Ag g/t | Cu % | Pb % | Zn % | | D-09-01-22 | 579.05 | 595.35 | 16.30 | 42 | 0.09 | 0.18 | 3.44 | | And | 773.85 | 789.80 | 15.95 | 36 | 0.12 | 0.81 | 1.16 | | And | 807.25 | 814.25 | 7.00 | 15 | 0.14 | 1.02 | 1.94 | | And | 921.65 | 925.40 | 3.75 | 53 | 0.19 | 3.59 | 8.12 | | And | 941.30 | 1030.05 | 88.75 | 30 | 0.10 | 1.17 | 2.07 | | And | 1052.05 | 1063.70 | 11.65 | 255 | 0.04 | 5.60 | 4.36 | | And | 1230.95 | 1254.90 | 23.95 | 45 | 0.29 | 1.12 | 2.33 | | D-09-02-22 | 915.90 | 932.25 | 16.35 | 20 | 0.08 | 1.24 | 2.63 | | And | 1268.30 | 1303.25 | 34.95 | 14 | 0.05 | 0.89 | 1.48 | | D-09-03-22 | 611.90 | 636.60 | 24.70 | 39 | 0.18 | 0.48 | 2.55 | | And | 860.60 | 885.25 | 24.65 | 65 | 0.16 | 1.77 | 2.49 | | D-15-01-22 | 822.35 | 836.65 | 14.30 | 35 | 0.17 | 0.87 | 2.30 | | And | 1082.00 | 1093.95 | 11.95 | 26 | 0.07 | 1.71 | 2.33 | | And | 1229.80 | 1254.25 | 24.45 | 35 | 0.25 | 1.41 | 3.15 | | D-29-01-22 | 861.85 | 943.50 | 81.65 | 84 | 0.03 | 1.47 | 2.21 | | And | 1023.95 | 1113.25 | 89.30 | 58 | 0.05 | 1.03 | 3.35 | | And | 1359.65 | 1394.50 | 34.85 | 64 | 0.02 | 2.63 | 3.12 | | And | 1433.20 | 1451.45 | 18.25 | 32 | 0.10 | 2.08 | 2.97 | | And | 1477.65 | 1508.00 | 30.35 | 56 | 0.02 | 0.77 | 2.95 | | D-29-02-22 | 856.40 | 908.90 | 52.50 | 71 | 0.04 | 1.46 | 2.60 | | And | 1210.80 | 1269.80 | 59.00 | 52 | 0.10 | 3.21 | 4.42 | | Incl. | 1222.95 | 1262.25 | 39.30 | 68 | 0.13 | 4.34 | 5.57 | | And | 1304.95 | 1366.00 | 61.05 | 41 | 0.04 | 1.19 | 3.34 | | D-29-03-22 | 863.30 | 911.55 | 48.25 | 41 | 0.04 | 1.42 | 2.42 | | And | 1050.40 | 1076.90 | 26.50 | 79 | 0.08 | 1.18 | 5.04 | | And | 1115.25 | 1161.95 | 46.70 | 26 | 0.03 | 0.84 | 2.28 | | D-62-08-22 | 1344.90 | 1357.95 | 13.05 | 127 | 0.47 | 2.81 | 3.96 | | D-62-09-22 | 1083.70 | 1198.90 | 115.20 | 33 | 0.03 | 2.16 | 3.37 | | Incl. | 1089.85 | 1116.25 | 26.40 | 80 | 0.04 | 5.06 | 8.68 | | And | 1231.35 | 1260.50 | 29.15 | 55 | 0.13 | 0.67 | 3.76 | | D-62-10-22 | 1107.15 | 1118.95 | 11.80 | 54 | 0.04 | 3.01 | 6.95 | | And | 1238.70 | 1269.20 | 30.50 | 80 | 0.20 | 1.14 | 2.41 | | D-62-11-22 | 1229.50 | 1261.60 | 32.10 | 78 | 0.11 | 0.85 | 1.28 | | D-63-01-22 | 1056.50 | 1063.30 | 6.80 | 35 | 0.24 | 1.79 | 2.60 | | And | 1275.15 | 1313.00 | 37.85 | 67 | 0.48 | 2.29 | 4.13 | | D-66-08-22 | 1080.05 | 1123.60 | 43.55 | 36 | 0.17 | 1.91 | 3.32 | | Incl. | 1107.25 | 1123.60 | 16.35 | 63 | 0.40 | 3.79 | 6.88 | | And | 1376.40 | 1409.10 | 32.70 | 73 | 0.15 | 4.78 | 9.19 | | D-66-09-22 | 1427.70 | 1473.45 | 45.75 | 30 | 0.05 | 2.15 | 3.43 | | D-71-08-22 | 1098.25 | 1110.30 | 12.05 | 123 | 0.17 | 5.14 | 11.34 | | And | 1219.45 | 1292.70 | 73.25 | 33 | 0.05 | 1.51 | 2.91 | | And | 1333.00 | 1371.20 | 38.20 | 31 | 0.05 | 0.90 | 3.48 | | D-71-09-22 | 1126.45 | 1248.25 | 121.80 | 54 | 0.05 | 1.64 | 3.76 | | Incl. | 1154.85 | 1202.40 | 47.55 | 89 | 0.09 | 2.29 | 6.22 | | And | 1365.25 | 1469.80 | 104.55 | 69 | 0.10 | 4.03 | 5.76 | | Incl. | 1365.25 | 1397.45 | 32.20 | 92 | 0.18 | 5.15 | 9.90 | | D-71-10-22 | 1003.25 | 1032.50 | 29.25 | 58 | 0.10 | 2.09 | 3.69 | | And | 1056.15 | 1207.35 | 151.20 | 51 | 0.07 | 1.83 | 3.05 | | D-71-11-22 | 1043.30 | 1048.70 | 5.40 | 233 | 0.34 | 8.26 | 10.46 | | And | 1096.20 | 1200.20 | 104.00 | 38 | 0.05 | 1.68 | 2.63 | | D-73-06-22 | 1041.45 | 1072.35 | 30.90 | 15 | 0.01 | 1.47 | 3.13 | | D-77-03-22 | 1043.40 | 1062.00 | 18.60 | 31 | 0.10 | 2.06 | 5.60 | | And | 1262.60 | 1279.85 | 17.25 | 25 | 0.25 | 0.98 | 2.91 | | D-77-04-22 | 1031.20 | 1087.65 | 56.45 | 29 | 0.07 | 1.25 | 2.76 | | D-77-06-22 | 784.05 | 797.25 | 13.20 | 80 | 0.10 | 2.78 | 4.90 | | And | 950.40 | 956.15 | 5.75 | 80 | 0.50 | 2.76 | 3.57 | | And | 1032.65 | 1111.55 | 78.90 | 21 | 0.04 | 0.94 | 3.11 | | And | 1187.00 | 1203.45 | 16.45 | 27 | 0.03 | 1.03 | 3.18 | | D-79-05-22 | 717.55 | 724.25 | 6.70 | 127 | 0.44 | 2.86 | 8.80 | | D-90-06-22 | 708.05 | 716.20 | 8.15 | 154 | 1.49 | 0.85 | 1.30 | | And | 730.70 | 745.80 | 15.10 | 45 | 0.22 | 1.83 | 2.81 | | And | 801.30 | 849.95 | 48.65 | 27 | 0.22 | 1.04 | 1.74 | | And | 915.65 | 934.20 | 18.55 | 49 | 0.16 | 1.37 | 2.60 | | And | 1028.30 | 1033.70 | 5.40 | 397 | 0.15 | 6.97 | 12.13 | | D-90-07-22 | 773.25 | 822.30 | 49.05 | 47 | 0.26 | 1.29 | 1.92 | | And | 1206.25 | 1220.95 | 14.70 | 86 | 0.47 | 1.07 | 3.48 | | And | 1328.00 | 1359.70 | 31.70 | 52 | 0.48 | 1.02 | 1.39 | | D-95-13-22 | 709.05 | 728.80 | 19.75 | 38 | 0.18 | 0.53 | 2.29 | | And | 778.75 | 790.95 | 12.20 | 47 | 0.58 | 0.39 | 2.21 | | And | 1128.30 | 1322.75 | 194.45 | 48 | 0.21 | 2.97 | 4.26 | | Incl. | 1183.90 | 1261.70 | 77.80 | 53 | 0.26 | 3.41 | 5.53 | | D-95-14-22 | 1094.30 | 1140.10 | 45.80 | 67 | 0.18 | 2.32 | 4.86 | | And | 1225.35 | 1276.30 | 50.95 | 43 | 0.22 | 1.43 | 2.44 | | And | 1309.80 | 1322.60 | 12.80 | 69 | 0.51 | 3.20 | 4.61 | | And | 1366.30 | 1369.95 | 3.65 | 239 | 0.79 | 2.40 | 2.54 | | D-95-15-22 | 1113.70 | 1192.30 | 78.60 | 36 | 0.14 | 0.99 | 2.06 | | And | 1373.15 | 1396.85 | 23.70 | 61 | 0.60 | 0.66 | 1.05 | | D-96-05-22 | 932.05 | 946.45 | 14.40 | 44 | 0.02 | 0.95 | 1.41 | | And | 1123.35 | 1163.10 | 39.75 | 334 | 0.12 | 7.06 | 4.02 | | Incl. | 1145.90 | 1163.10 | 17.20 | 694 | 0.20 | 14.79 | 8.26 | | And | 1299.40 | 1325.35 | 25.95 | 26 | 0.05 | 1.16 | 1.50 | | And | 1355.05 | 1445.90 | 90.85 | 92 | 0.15 | 3.93 | 9.08 | | Incl. | 1389.90 | 1445.90 | 56.00 | 90 | 0.20 | 5.43 | 13.31 | | D-96-06-22 | 1110.50 | 1118.50 | 8.00 | 131 | 0.01 | 3.62 | 4.11 | | And | 1146.80 | 1205.10 | 58.30 | 417 | 0.04 | 11.95 | 9.39 | | Incl. | 1150.15 | 1187.40 | 37.25 | 545 | 0.05 | 15.66 | 11.83 | | And | 1230.80 | 1238.45 | 7.65 | 309 | 0.06 | 7.25 | 10.19 | | And | 1326.55 | 1364.10 | 37.55 | 101 | 0.12 | 1.15 | 5.89 | | Incl. | 1326.55 | 1343.75 | 17.20 | 170 | 0.24 | 1.79 | 11.52 | | And | 1380.90 | 1408.50 | 27.60 | 35 | 0.10 | 0.09 | 5.50 | | And | 1547.80 | 1581.10 | 33.30 | 29 | 0.12 | 0.16 | 3.25 | | D-96-07-22 | 1046.70 | 1060.90 | 14.20 | 189 | 0.04 | 2.30 | 3.87 | | And | 1106.60 | 1158.90 | 52.30 | 107 | 0.06 | 5.77 | 14.58 | | And | 1195.60 | 1269.15 | 73.55 | 49 | 0.06 | 2.12 | 3.07 | | And | 1305.50 | 1406.50 | 101.00 | 29 | 0.08 | 2.38 | 3.42 | | Incl. | 1368.80 | 1406.50 | 37.70 | 29 | 0.13 | 3.27 | 5.47 | | D-96-08-22 | 1140.20 | 1258.55 | 118.35 | 102 | 0.07 | 3.33 | 5.14 | | Incl. | 1173.30 | 1258.55 | 85.25 | 137 | 0.09 | 4.26 | 6.44 | | And | 1306.30 | 1375.80 | 69.50 | 18 | 0.05 | 1.89 | 3.00 | | S-15-22 | 730.65 | 757.20 | 26.55 | 31 | 0.21 | 0.75 | 1.54 | | And | 822.55 | 826.70 | 4.15 | 75 | 0.64 | 2.78 | 8.34 | | And | 1250.60 | 1256.10 | 5.50 | 28 | 0.07 | 2.82 | 4.61 | | S-29-22 | 615.80 | 618.50 | 2.70 | 710 | 0.22 | 4.95 | 6.78 | | And | 709.60 | 713.30 | 3.70 | 252 | 0.28 | 1.57 | 3.24 | | And | 854.20 | 913.50 | 59.30 | 95 | 0.04 | 1.54 | 2.44 | | And | 963.95 | 972.00 | 8.05 | 290 | 0.19 | 4.91 | 7.73 | | And | 1057.30 | 1076.70 | 19.40 | 35 | 0.01 | 1.36 | 2.74 | | And | 1199.40 | 1232.35 | 32.95 | 14 | 0.01 | 0.53 | 2.11 | | And | 1400.75 | 1442.15 | 41.40 | 32 | 0.05 | 2.50 | 4.02 | | Incl. | 1419.40 | 1442.15 | 22.75 | 32 | 0.05 | 3.08 | 5.13 | | And | 1465.90 | 1482.05 | 16.15 | 26 | 0.04 | 2.05 | 3.51 | | And | 1539.50 | 1550.15 | 10.65 | 13 | 0.03 | 0.10 | 6.27 | | And | 1576.85 | 1580.70 | 3.85 | 10 | 0.03 | 0.02 | 16.03 | | S-63-22 | 225.15 | 231.60 | 6.45 | 443 | 0.05 | 0.81 | 0.68 | | And | 717.55 | 723.85 | 6.30 | 402 | 0.22 | 6.98 | 3.37 | | And | 1096.70 | 1111.75 | 15.05 | 152 | 0.65 | 4.33 | 9.13 | | U-103-22 | 384.70 | 393.65 | 8.95 | 582 | 0.21 | 4.16 | 4.70 | | And | 723.35 | 816.30 | 92.95 | 220 | 0.16 | 7.01 | 7.18 | | Incl. | 723.35 | 767.75 | 44.40 | 240 | 0.24 | 11.95 | 11.46 | | U-33-22 | 398.65 | 416.05 | 17.40 | 89 | 0.10 | 3.16 | 5.60 | | And | 537.60 | 735.10 | 197.50 | 76 | 0.09 | 2.48 | 7.21 | | Incl. | 553.90 | 663.25 | 109.35 | 97 | 0.14 | 2.63 | 9.65 | | U-43-22 | 464.90 | 471.70 | 6.80 | 392 | 0.14 | 10.99 | 14.99 | | And | 773.40 | 779.90 | 6.50 | 39 | 0.05 | 4.07 | 8.86 | | U-53-22 | 673.70 | 711.90 | 38.20 | 87 | 0.24 | 2.85 | 8.42 | | And | 795.65 | 847.50 | 51.85 | 40 | 0.06 | 1.45 | 3.07 | | And | 910.25 | 945.15 | 34.90 | 47 | 0.19 | 0.25 | 5.38 | | U-74-22 | 921.30 | 971.70 | 50.40 | 106 | 0.14 | 4.85 | 5.78 | | Incl. | 922.25 | 938.50 | 16.25 | 227 | 0.27 | 12.89 | 15.71 | | U-75-22 | 352.90 | 426.75 | 73.85 | 46 | 0.07 | 1.69 | 2.38 | | And | 713.85 | 737.10 | 23.25 | 34 | 0.30 | 2.39 | 3.79 | | And | 813.00 | 845.10 | 32.10 | 74 | 0.26 | 6.49 | 8.26 | | And | 987.35 | 1053.50 | 66.15 | 24 | 0.13 | 0.31 | 9.10 | | Incl. | 987.35 | 1032.00 | 44.65 | 33 | 0.17 | 0.45 | 10.92 | | U-98-22 | 373.55 | 381.40 | 7.85 | 58 | 0.07 | 3.19 | 5.09 | | And | 527.75 | 543.50 | 15.75 | 33 | 0.12 | 3.11 | 3.70 | | And | 921.40 | 966.75 | 45.35 | 48 | 0.08 | 0.83 | 3.12 | | And | 1050.50 | 1078.55 | 28.05 | 17 | 0.06 | 0.06 | 8.29 |

| (1) True widths of the mineralised intervals are unknown at this time. |

La Colorada Skarn - drill hole collar information

| Drill Hole ID | Type | East Local | North Local | Elevation | Length (m) | Azimuth Avg ( 0 ) | Dip Avg | | D-09-01-22 | Exploration | 5490.2 | 4962.7 | 2517.2 | 1028.5 | 9.3 | -83.8 | | D-09-02-22 | Exploration | 5490.2 | 4962.7 | 2517.2 | 844.9 | 252.7 | -85.4 | | D-09-03-22 | Exploration | 5490.2 | 4962.7 | 2517.2 | 588.0 | 182.6 | -87.5 | | D-15-01-22 | Infill | 5227.9 | 5223.1 | 2559.4 | 745.2 | 284.2 | -87.6 | | D-29-01-22 | Exploration | 5998.1 | 5397.2 | 2514.8 | 851.1 | 147.8 | -86.3 | | D-29-02-22 | Exploration | 5998.1 | 5397.2 | 2514.8 | 841.3 | 4.1 | -74.7 | | D-29-03-22 | Exploration | 5998.1 | 5397.2 | 2514.8 | 825.7 | 89.0 | -77.3 | | D-62-08-22 | Infill | 5996.9 | 5753.7 | 2554.7 | 717.3 | 321.0 | -80.7 | | D-62-09-22 | Infill | 5996.9 | 5753.7 | 2554.7 | 718.5 | 72.3 | -84.0 | | D-62-10-22 | Infill | 5996.9 | 5753.7 | 2554.7 | 453.0 | 24.9 | -79.3 | | D-62-11-22 | Infill | 5996.9 | 5753.7 | 2554.7 | 386.3 | 95.8 | -73.4 | | D-63-01-22 | Exploration | 4534.0 | 5547.0 | 2542.3 | 850.5 | 103.1 | -84.4 | | D-66-08-22 | Infill | 5060.5 | 5509.3 | 2511.2 | 678.7 | 198.6 | -75.7 | | D-66-09-22 | Infill | 5060.5 | 5509.3 | 2511.2 | 728.7 | 200.2 | -70.1 | | D-71-08-22 | Infill | 6004.3 | 5588.6 | 2529.3 | 460.5 | 156.2 | -67.3 | | D-71-09-22 | Infill | 6004.3 | 5588.6 | 2529.3 | 660.3 | 81.8 | -83.3 | | D-71-10-22 | Infill | 6004.3 | 5588.6 | 2529.3 | 377.6 | 340.0 | -76.7 | | D-71-11-22 | Infill | 6004.3 | 5588.6 | 2529.3 | 562.3 | 277.5 | -76.5 | | D-73-06-22 | Infill | 5798.7 | 5607.7 | 2578.1 | 640.8 | 249.0 | -81.9 | | D-77-02-22 | Exploration | 5777.8 | 5504.1 | 2540.8 | 106.1 | 338.7 | -85.6 | | D-77-03-22 | Exploration | 5777.8 | 5504.1 | 2540.8 | 650.9 | 338.7 | -83.0 | | D-77-04-22 | Exploration | 5777.8 | 5504.1 | 2540.8 | 307.3 | 322.2 | -75.7 | | D-77-05-22 | Infill | 5777.8 | 5504.1 | 2540.8 | 175.3 | 73.7 | -77.9 | | D-77-06-22 | Infill | 5777.8 | 5504.1 | 2540.8 | 483.2 | 36.9 | -62.0 | | D-79-05-22 | Exploration | 5808.0 | 5209.2 | 2482.2 | 656.0 | 357.4 | -74.6 | | D-90-05-22 | Exploration | 5538.7 | 5004.4 | 2532.2 | 98.6 | 168.8 | -86.7 | | D-90-06-22 | Exploration | 5538.7 | 5004.4 | 2532.2 | 642.9 | 316.0 | -78.5 | | D-90-07-22 | Exploration | 5538.7 | 5004.4 | 2532.2 | 866.9 | 29.7 | -85.9 | | D-95-13-22 | Exploration | 5403.1 | 5126.1 | 2549.6 | 725.3 | 2.8 | -69.8 | | D-95-14-22 | Infill | 5403.1 | 5126.1 | 2549.6 | 717.4 | 29.5 | -69.3 | | D-95-15-22 | Infill | 5403.1 | 5126.1 | 2549.6 | 681.3 | 55.4 | -66.7 | | D-96-05-22 | Infill | 4654.7 | 5286.4 | 2506.4 | 760.6 | 16.6 | -84.5 | | D-96-06-22 | Infill | 4654.7 | 5286.4 | 2506.4 | 813.4 | 331.7 | -82.9 | | D-96-07-22 | Infill | 4654.7 | 5286.4 | 2506.4 | 685.2 | 91.4 | -73.9 | | D-96-08-22 | Infill | 4654.7 | 5286.4 | 2506.4 | 741.0 | 102.8 | -73.3 | | S-15-22 | Exploration | 5227.9 | 5223.1 | 2559.4 | 1405.5 | 293.0 | -86.1 | | S-29-22 | Exploration | 5998.1 | 5397.2 | 2514.8 | 1700.4 | 130.0 | -89.7 | | S-63-22 | Exploration | 4534.0 | 5547.0 | 2542.3 | 1563.4 | 228.9 | -88.3 | | U-103-22 | Infill | 4496.0 | 5331.5 | 2073.5 | 1155.0 | 72.6 | -76.8 | | U-33-22 | Infill | 4844.6 | 5320.8 | 1995.5 | 960.2 | 335.6 | -79.2 | | U-43-22 | Exploration | 4496.0 | 5331.3 | 2072.2 | 800.3 | 53.2 | -68.9 | | U-53-22 | Exploration | 4845.3 | 5323.7 | 1998.2 | 1101.3 | 344.8 | -84.9 | | U-74-22 | Exploration | 4495.4 | 5329.9 | 2073.0 | 1074.0 | 141.9 | -76.8 | | U-75-22 | Infill | 4846.2 | 5322.5 | 1997.4 | 1221.0 | 15.8 | -79.6 | | U-98-22 | Infill | 4846.7 | 5321.7 | 1995.4 | 1188.0 | 40.8 | -80.3 | | Total metres | 34,239.0 | | | | | | |

General Notes with Respect to Technical Information

Grades are shown as contained metal before mill recoveries are applied. All samples provided in this news release were assayed by ALS Global, Mexico using acid digestion with ICP finish for silver, lead, zinc, and copper. Samples sent to ALS Global were prepared in Zacatecas and Hermosillo, Mexico laboratories and sent to Vancouver B.C. Laboratory for assay. Pan American implements a quality assurance and quality control ("QAQC") program including the submission of certified standards, blanks, and duplicate samples to the laboratories. The results of the QAQC samples submitted to ALS Global demonstrate acceptable accuracy and precision. The Qualified Persons have verified the data disclosed in this news release and they are of the opinion that the sample preparation, analytical, and security procedures followed for the samples are sufficient and reliable for the purpose of any future mineral resource and mineral reserve estimates. Pan American is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data reported herein. ALS Global is independent from Pan American.

Mineral resources and mineral reserves are as defined by the Canadian Institute of Mining, Metallurgy and Petroleum.

Mineral Resources that are not Mineral Reserves have no demonstrated economic viability. No mineral reserves have yet been estimated for the Skarn deposit.

See the Company's Annual Information Form dated February 23, 2022 , available at www.sedar.com for further information concerning QAQC and data verification matters, the key assumptions, parameters and methods used by the Company to estimate mineral reserves and mineral resources, and for a detailed description of known legal, political, environmental, and other risks that could materially affect the Company's business and the potential development of the Company's mineral reserves and mineral resources.