Pampa Metals drills 98 metres at 0.49 % Cu, 0.16 g/t Au in first hole at Piuquenes East, Argentina

Pampa Metals Corp. [CSE: PM; FSE: FIR; OTCQB: PMMCF] reported that drill hole PIU-06 2025DDH (PIU-06) has confirmed a new porphyry copper-gold discovery, located immediately to the north of Aldebaran Resources’ emerging Altar North system, within the broader Piuquenes-Altar cluster, Argentina.

PIU-06 was the first drill hole designed to test the Piuquenes East porphyry vein and breccia system mapped at surface and is collared approximately 800 metres east of the company’s Piuquenes Central deposit.

PIU-06 intersected porphyry A and B-type quartz stockwork veining and reported a significant mineralized interval as follows: 208 mtres at 0.31% Cu, 0.13 g/t Au, 1.24 g/t Ag (from 292m), including 98 metres at 0.49 % Cu, 0.16 g/t Au, 1.26 g/t Ag (from 292m).

The discovery of an entirely new porphyry breccia system at Piuquenes East, well removed from the Piuquenes Central system, is considered extremely encouraging. The system displays the multi-phase character of many world class deposits including several of the giant San Juan (and adjacent Chile) porphyry districts and deposits.

Piuquenes East is a multi-phase porphyry breccia system at the very earliest stages of exploration, entirely open to the north, west and east with no drilling testing any of these potential extension areas.

Joseph van den Elsen, Pampa Metals President and CEO, commented:

“To have returned such significant results from the first hole into the Piuquenes East discovery is an important milestone for Pampa Metals and validates the Piuquenes project as host to multiple porphyry systems and a company making asset. Importantly, we have now confirmed Piuquenes East as a zoned-multi-phase porphyry-breccia system which is entirely open in all directions, and where we believe the core of the system is yet to be tested. We are excited to continue our systematic exploration of the full 2,500-hectare tenure package through further geological mapping, geophysics and drilling. a zoned porphyry-breccia Concurrently, we continue to move towards completion of the acquisition of Rugby Resources and its Cobrasco and Mantau projects, and the resulting creation of a leading, multi-asset South American porphyry copper explorer, and look forward to recommencing drilling at Cobrasco in 2H 2025.”

Piuquenes is a newly discovered cluster of gold rich copper porphyry deposits located immediately adjacent to the north of the Aldebaran Resources giant Altar porphyry copper system. Other large porphyry copper projects in the San Juan Miocene porphyry belt include El Pachón (Glencore), approximately 30 km to the south, the operating Los Pelambres copper mine (60% Antofagasta plc) in Chile, and Los Azules (McEwen Mining) 50 km to the northeast. Corporate and exploration activity along the belt remains high, with major companies including Rio Tinto, South 32, BHP and Teck also active.

The Piuquenes East porphyry system is an entirely new discovery, well removed from the Piuquenes Central system. It is a multi-phase porphyry breccia system at the very earliest stages of exploration. The system displays the multi-phase character of many world class deposits with high temperature (potassic) alteration and veining overprinted by two phases of moderate temperature alteration and veining (SCC and phyllic) which are in turn overprinted by advanced argillic alteration and associated high sulfidation Cu-Au-Ag mineralization.

This sequence of spatially and temporally overlapping events is a characteristic of many of the giant San Juan (and adjacent Chile) porphyry districts and deposits and it is considered highly encouraging to have defined these multiple stages in the initial stages of exploration. Although to-date the breccia component of the Piuquenes East system is only sporadically mineralized, it is noted that many porphyry systems contain unmineralized breccias that zone into highly mineralized breccia complexes.

The system is entirely open to the north, west and east with no drilling testing any of these potential extension areas. This area is largely marked by thin talus cover with only minor outcrop and has been subject to minimal exploration.

Ongoing surface mapping and integration of the recently received complete drill data is aimed at more accurately defining zoning patterns and defining next steps for exploration of the system.