Pampa Metals Intersects 298m @ 0.54% Cu, 0.39g/t Au, within 570m @ 0.39% Cu, 0.24 g/t Au, at Piuquenes, Argentina

Pampa Metals Corp. announced drill results from hole PIU-08 at its Piuquenes Central Cu-Au porphyry system in Argentina, intersecting 570m @ 0.39% Cu and 0.24 g/t Au, including a higher-grade interval of 298m @ 0.54% Cu and 0.39 g/t Au; these results extend the modeled high-grade shell of the deposit eastward and establish an initial high-grade deposit with potential for a substantial resource base, further supported by the recent discovery at Piuquenes East.

Analysis

Pampa Metals Corp. has reported significant copper-gold mineralization from drillhole PIU-08 at its Piuquenes Central project in Argentina, intersecting 570 meters at 0.39% copper (Cu) and 0.24 grams per tonne (g/t) gold (Au) from 188 meters, which includes a higher-grade interval of 298 meters at 0.54% Cu and 0.39 g/t Au from 192 meters. These results are noteworthy as they extend the modelled high-grade shell of the Piuquenes Central deposit further to the east and represent a substantial step-out, located 240 meters southwest of PIU01-2024 (which reported 304m @ 0.48% Cu, 0.68 g/t Au) and 80 meters north of PIU03-2024 (which reported 801m @ 0.40% Cu, 0.51 g/t Au). The mineralization, characterized by intense multi-phase porphyry A and B veining dominated by chalcopyrite with lesser bornite, establishes an initial high-grade Cu-Au deposit at Piuquenes Central. This, combined with the new discovery at Piuquenes East (PIU06: 208m @ 0.31% Cu, 0.13 g/t Au), indicates clear potential for a substantial resource base across multiple mineralized porphyry systems. The company is now focused on integrating all data, updating geological models, and planning further systematic exploration. Concurrently, Pampa Metals is advancing the acquisition of Rugby Resources, which includes the Cobrasco project in Colombia, with drilling anticipated in H2 2025, aiming to create a multi-asset South American porphyry copper explorer.

Key Decisions for Investors

• Investors should consider the latest drill results as a significant de-risking event for the Piuquenes Central deposit, demonstrating continuity and expansion of high-grade copper-gold mineralization.
• The ongoing acquisition of Rugby Resources, particularly its Cobrasco project, presents a strategic expansion that could enhance Pampa Metals' exploration portfolio and growth trajectory; monitor progress towards closing and initial exploration plans for Cobrasco.
• Key catalysts to watch include further assay results from the Piuquenes project, the updated geological model for Piuquenes Central and East, and the commencement of drilling at the Cobrasco project in H2 2025.