Thu Sep 12 01:07:55 UTC 2024: ## Pan American Silver Reports Increased Mineral Reserves and Resources

**Vancouver, British Columbia – September 11, 2024** – Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) has announced its estimated mineral reserves and mineral resources as of June 30, 2024. The company reported a total of **468.0 million ounces of silver and 6.9 million ounces of gold** in proven and probable reserves. Measured and indicated mineral resources (excluding proven and probable reserves) amounted to **1,148.0 million ounces of silver and 15.5 million ounces of gold**, while inferred mineral resources totaled **366.0 million ounces of silver and 9.4 million ounces of gold**.

These figures reflect a decrease compared to 2023 due to the divestment of non-core, non-producing assets, including the MARA, Agua de la Falda, and Morococha properties. However, Pan American has seen success in replacing mine production and expanding mineral reserves at several key locations.

**Key Highlights:**

* **Significant increase in inferred mineral resources at Jacobina mine:** Infill and extensional drilling increased inferred mineral resources by over 1.2 million ounces of gold, highlighting the deposit’s potential for future resource replacement.
* **Substantial growth in indicated mineral resources at La Colorada Skarn project:** Estimated indicated mineral resources have risen to 309 million ounces of silver due to higher tonnage and grades, with the inferred mineral resource now estimated at 59 million ounces of silver. Zinc and lead content within the skarn deposit has also increased.
* **Continued exploration efforts:** Pan American plans to complete over 360,000 meters of drilling across its portfolio of mines in 2024, focusing on near-mine exploration for mineral reserve replacement.

“Our exploration efforts have successfully replaced mine production and expanded mineral reserves at Jacobina, La Colorada, Huaron and Minera Florida,” stated Christopher Emerson, Pan American’s Vice President of Exploration and Geology. “At the La Colorada Skarn project, estimated indicated mineral resources have grown substantially… highlighting the significant exploration potential of the deposit.”

Pan American remains committed to its exploration and development programs, aiming to maintain its position as a leading producer of silver and gold in the Americas.

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