Pan American Silver reports mineral reserves and mineral resources as of June 30, 2024

Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) (“Pan American” or the “Company”) reports its estimated mineral reserves and mineral resources as of June 30, 2024. Proven and probable mineral reserves are estimated to contain approximately 468.0 million ounces of silver and 6.9 million ounces of gold. Measured and indicated (“M&I”) mineral resources (excluding proven and probable (“P&P”) reserves) are estimated to total approximately 1,148.0 million ounces of silver and 15.5 million ounces of gold. Inferred mineral resources are estimated to total approximately 366.0 million ounces of silver and 9.4 million ounces of gold. The updated mineral reserve and mineral resource estimates are reported net of the sales of the MARA, Agua de la Falda and Morococha properties as announced in the Company's news release dated July 31, 2023. The disposal of these non-core, non-producing assets is largely responsible for a decrease in mineral reserves and mineral resources compared to 2023.

“Our exploration efforts have successfully replaced mine production and expanded mineral reserves at Jacobina, La Colorada, Huaron and Minera Florida. In addition, infill and extension drilling at the Jacobina Mine has increased inferred mineral resources by over 1.2 million ounces of gold, highlighting the significant exploration potential of the deposit and the opportunity to replace mineral resources and mineral reserves in the future,” said Christopher Emerson, Vice President of Exploration and Geology for Pan American. “At the La Colorada Skarn Project, estimated indicated mineral resources have grown significantly to 309 million ounces of silver due to higher tonnages and higher grades, with inferred mineral resources now estimated at 59 million ounces of silver. Zinc and lead contained within the Skarn deposit have also increased since our last resource update.”