Pan Am Energy talks Tharsis bathymetric survey results

Executive Summary

• Pan American Energy Corp. completed final bathymetric processing of the 2025 field program at its Tharsis project in the Northwest Territories.
• The survey, conducted across Squalus Lake, provides critical depth data to support planned future winter drilling activities and ice-based access for drill rigs.
• The resulting digital elevation model (DEM) has been integrated with airborne magnetic data to define basin geometry, identifying shallow shoals and deeper troughs to refine drill targeting.

Key Details

• Survey Location: Squalus Lake, Tharsis project, Northwest Territories.
• Survey Period: September 2025.
• Data Volume: Approximately 17,500 depth measurements collected across boat-accessible portions of the lake.
• Methodology: Data acquired along east-west traverse lines spaced at roughly 100 metres, with additional incidental measurements from routine watercraft travel.
• Data Processing: Point cloud cleaned and interpolated into a continuous digital surface model; clipped digital elevation model (DEM) created.
• Integration: Bathymetric data integrated with existing airborne magnetic data.
• Geological Findings: Successfully defined basin geometry, identifying shallow shoals and deeper troughs.
• Operational Impact: Data improves readiness for winter exploration, reduces uncertainty regarding lake depths, and aids in planning safe ice-based access for drill rigs.
• Next Steps: Data will be used alongside geological and geophysical datasets to refine drill targeting and evaluate near-term exploration scenarios.
• Qualified Person: Dr. Jared Suchan, PhD, PGeo, technical adviser and qualified person under NI 43-101.

Notable Quotes

• "This bathymetric data set improves our readiness for winter exploration at Tharsis, helping to reduce uncertainty around lake depths and potential ice-based access for drill rigs." — Adrian Lamoureux, Chief Executive Officer