Pan American Energy conducts Tharsis bathymetric survey, Northwest Territories

Pan American Energy Corp. [CSE: PNRG; OTC: PAANF; FRA: SS6] has completed final bathymetric processing from the 2025 field program at the Tharsis project in the Northwest Territories. The work provides a supportive data set in advance of planned future drilling activities.

The bathymetric survey was conducted across Squalus Lake during September, 2025 and resulted in the collection of approximately 17,500 depth measurements across the boat-accessible portions of the lake. Data were acquired along east-west traverse lines spaced at roughly 100 metres, with additional incidental measurements collected during routine watercraft travel, increasing overall data density.

Survey coverage was continuous across most of the lake basin, with limited gaps in shallow, boulder-dominated areas where low water conditions restricted access. Following acquisition, the bathymetric point cloud was cleaned and interpolated into a continuous digital surface model. The final clipped digital elevation model (DEM) captured lake-floor depth and has been integrated with existing airborne magnetic data. The resulting data set successfully defines the basin geometry, identifying shallow shoals and deeper troughs.

Adrian Lamoureux, CEO of Pan American Energy, commented, “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.”

The completed bathymetric model establishes depth constraints for safe winter operations and will be used alongside geological and geophysical data sets as Pan American continues to refine drill targeting and evaluate near-term exploration scenarios at the Tharsis project.

Pan American Energy has executed an option agreement in Canada with Magabra Resources, under which it has acquired a 75% interest in the Big Mack lithium project, 80 km north of Kenora, Ontario, with the right to earn an additional 15% for a total 90% interest.

Pan American has also entered into an option agreement with Northern Critical Minerals Corp. (private) to acquire up to a 100% interest in the Tharsis REE (rare earth element) project, Northwest Territories. The project hosts the Squalus Lake alkaline complex, a Proterozoic-age carbonatite-bearing intrusion prospective for rare earth and high-field-strength elements.