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

Executive Summary

• Pan American Energy Corp. completed final bathymetric processing for the 2025 field program at the Tharsis Project’s Squalus Lake, generating ~17,500 depth measurements.
• The new digital elevation model (DEM) defines lake‑floor geometry, identifying shallow shoals and deeper troughs, and has been integrated with existing airborne magnetic data to support future drill targeting.
• The dataset reduces uncertainty for winter exploration access and will be used alongside geological and geophysical datasets in near‑term exploration planning.

Key Details

• Survey conducted across Squalus Lake in September 2025; measurements taken along east‑west traverse lines spaced ~100 m, plus incidental watercraft data.
• Approximately 17,500 depth points collected, covering the boat‑accessible portions of the lake basin; gaps only in shallow, boulder‑dominated areas with low water levels.
• Post‑processing produced a continuous DEM (Figure 2) that was clipped to the lake floor and overlaid with 2023 airborne magnetic data (Figure 3).
• The bathymetric model establishes depth constraints for safe winter operations, aiding ice‑based rig access planning.
• CEO Adrian Lamoureux stated the dataset “improves our readiness for winter exploration at Tharsis, helping to reduce uncertainty around lake depths and potential ice‑based access for drill rigs.”
• Qualified Person Jared Suchan, Ph.D., P.Geo., reviewed and approved the technical content per NI 43‑101.

Notable Quotes

“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.” – Adrian Lamoureux, CEO, Pan American Energy Corp.