Pan American Silver achieves 2024 manufacturing steerage and enters 2025 with a document money steadiness

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All quantities are expressed in US$ except in any other case indicated. Outcomes are preliminary and unaudited and might be adjusted based mostly on ultimate outcomes.

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VANCOUVER, British Columbia — Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) (“Pan American“ or the “Firm”) achieved its manufacturing steerage for 2024, with 21.1 million ounces of silver and 892 thousand ounces of gold produced in 2024. Steerage was additionally achieved for annual manufacturing of zinc, lead and copper.

The total-year (“FY 2024”) manufacturing outcomes had been pushed by sturdy efficiency within the fourth quarter 2024 (“This autumn 2024”):

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• Silver manufacturing of 6.0 million ounces in This autumn 2024, with the La Colorada mine in Mexico making a major contribution, producing 1.6 million ounces of silver within the quarter.

• Gold manufacturing of 224 thousand ounces in This autumn 2024, which excludes December manufacturing from the La Enviornment mine in Peru, the sale of which was accomplished on December 2, 2024, as beforehand introduced by the Firm.

“The sturdy manufacturing outcomes mixed with proceeds from the sale of La Enviornment have considerably elevated Pan American’s money balances. We entered 2025 with money and short-term investments totaling $887.3 million, positioning the Firm effectively to execute on its strategic priorities,” mentioned Michael Steinmann, President and Chief Government Officer. “We’re happy to have delivered on our manufacturing steerage for 2024, pushed by the back-end loaded manufacturing profile we had beforehand indicated. Notable efficiency was recorded at our two flagship operations: La Colorada and Jacobina. The La Colorada mine produced 1.6 million ounces of silver in This autumn 2024, demonstrating the good thing about the brand new air flow infrastructure. In the meantime, 197 thousand ounces of gold had been produced from the Jacobina mine in 2024, the very best recorded manufacturing within the mine’s historical past.”

Money and Quick-term Investments

At December 31, 2024, Pan American’s money and money equivalents, on an unaudited foundation, totaled $862.8 million and short-term investments totaled $24.5 million, collectively representing a rise of $417.4 million from September 30, 2024. The money steadiness included $306.6 million in money proceeds from the divestment of Pan American’s 100% curiosity in La Enviornment S.A., comprised of the $245 million money consideration in addition to an quantity paid in respect of working capital, which stays topic to additional adjustment. The Firm’s revolving credit score facility remained undrawn at yr finish, leading to anticipated complete out there liquidity of $1,637.3 million at December 31, 2024.

2024 PRELIMINARY PRODUCTION VERSUS 2024 GUIDANCE

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PRELIMINARY 2024 PRODUCTION RESULTS

2024 Base Metallic Manufacturing

This autumn 2024 and FY 2024 FINANCIAL RESULTS

Pan American plans to launch its monetary outcomes for This autumn 2024 and audited monetary outcomes for FY 2024 on February 19, 2025, after market shut. The outcomes will embody the ultimate manufacturing figures, money and short-term investments figures, money prices and all-in sustaining prices for This autumn 2024 and FY 2024, in addition to 2025 manufacturing and value steerage.

Convention Name and Webcast

Date: February 20, 2025

Time: 11:00 am ET (8:00 am PT)

Members can register at: https://dpregister.com/DiamondPassRegistration/register?confirmationNumber=10196160&linkSecurityString=fe574774c0

Registered contributors will obtain their dial in quantity upon registration.

These with out web entry or preferring to talk with an operator might dial:

1-844-763-8274 (toll-free in Canada and the U.S.)
1-647-484-8814 (worldwide contributors)

The stay webcast, presentation slides and the MD&A for the three and twelve month intervals ended December 31, 2024 might be out there at panamericansilver.com. An archive of the webcast may also be out there for 3 months on Pan American’s web site.

Technical Data

Scientific and technical info contained on this information launch has been reviewed and accepted by Martin Wafforn, P.Eng., Senior Vice President Technical Providers and Course of Optimization, and Christopher Emerson, FAusIMM, Vice President Exploration and Geology, every of whom are Certified Individuals, because the time period is outlined in Canadian Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives. Pan American is allowed by The Affiliation of Skilled Engineers and Geoscientists of the Province of British Columbia to have interaction in Reserved Apply below Allow to Apply quantity 1001470.

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About Pan American

Pan American is a number one producer of treasured metals within the Americas, working silver and gold mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile and Brazil. We additionally personal the Escobal mine in Guatemala that’s presently not working, and we maintain pursuits in exploration and growth tasks. We’ve got been working within the Americas for over three a long time, incomes an industry-leading popularity for sustainability efficiency, operational excellence and prudent monetary administration. We’re headquartered in Vancouver, B.C. and our shares commerce on the New York Inventory Change and the Toronto Inventory Change below the image “PAAS”.

Be taught extra at panamericansilver.com

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Cautionary Word Concerning Ahead-Trying Statements and Data

Sure of the statements and data on this information launch represent “forward-looking statements” throughout the that means of the US Non-public Securities Litigation Reform Act of 1995 and “forward-looking info” throughout the that means of relevant Canadian provincial securities legal guidelines. All statements, aside from statements of historic truth, are forward-looking statements or info. Ahead-looking statements or info on this information launch relate to, amongst different issues: estimates of 2024 manufacturing figures, which stay topic to verification and adjustment, together with our estimated manufacturing of silver, gold, and different metals in 2024; estimates of money and short-term investments and complete out there liquidity at December 31, 2024, which stay topic to verification and adjustment; and the timing for launch of our This autumn 2024 and FY 2024 monetary outcomes.

These forward-looking statements and data replicate Pan American’s present views with respect to future occasions and are essentially based mostly upon numerous assumptions that, whereas thought of affordable by Pan American, are inherently topic to vital operational, enterprise, financial and regulatory uncertainties and contingencies. These assumptions embody: the affect of inflation and disruptions to the worldwide, regional and native provide chains; tonnage of ore to be mined and processed; future anticipated costs for gold, silver and different metals and assumed international trade charges; the timing and affect of deliberate capital expenditure tasks, together with anticipated sustaining, mission, and exploration expenditures; the continued affect and timing of the court-mandated ILO 169 session course of in Guatemala; ore grades and recoveries; capital, decommissioning and reclamation estimates; our mineral reserve and mineral useful resource estimates and the assumptions upon which they’re based mostly; costs for power inputs, labour, supplies, provides and companies (together with transportation); no labour-related disruptions at any of our operations; no unplanned delays or interruptions in scheduled manufacturing; all mandatory permits, licenses and regulatory approvals for our operations are obtained in a well timed method; our capability to safe and preserve title and possession to mineral properties and the floor rights mandatory for our operations; whether or not Pan American is ready to preserve a powerful monetary situation and have adequate capital, or have entry to capital by means of our company sustainability-linked credit score facility or in any other case, to maintain our enterprise and operations; and our capability to adjust to environmental, well being and security legal guidelines. The foregoing record of assumptions will not be exhaustive Pan American cautions the reader that forward-looking statements and data contain identified and unknown dangers, uncertainties and different elements which will trigger precise outcomes and developments to vary materially from these expressed or implied by such forward-looking statements or info contained on this information launch and Pan American has made assumptions and estimates based mostly on or associated to many of those elements. Such elements embody, with out limitation: fluctuations in silver, gold and base steel costs; fluctuations in costs for power inputs, labour, supplies, provides and companies (together with transportation); fluctuations in foreign money markets; operational dangers and hazards inherent with the enterprise of mining (together with environmental accidents and hazards, industrial accidents, tools breakdown, uncommon or sudden geological or structural formations, cave-ins, flooding and extreme climate); dangers regarding the credit score worthiness or monetary situation of suppliers, refiners and different events with whom Pan American does enterprise; insufficient insurance coverage, or incapability to acquire insurance coverage, to cowl these dangers and hazards; worker relations; relationships with, and claims by, native communities and indigenous populations; our capability to acquire all mandatory permits, licenses and regulatory approvals in a well timed method; modifications in legal guidelines, rules and authorities practices within the jurisdictions the place we function, together with environmental, export and import legal guidelines and rules; modifications in nationwide and native authorities, laws, taxation, controls or rules and political, authorized or financial developments, together with authorized restrictions regarding mining and dangers regarding expropriation; dangers regarding the constitutional court-mandated ILO 169 session course of in Guatemala; unanticipated or extreme tax assessments or reassessments in our working jurisdictions; diminishing portions or grades of mineral reserves as properties are mined; elevated competitors within the mining {industry} for tools and certified personnel; and people elements recognized below the heading “Danger Components” within the Round, and below the heading “Dangers Associated to Pan American’s Enterprise” in Pan American’s most up-to-date type 40-F and Annual Data Kind filed with the US Securities and Change Fee and Canadian provincial securities regulatory authorities, respectively. Though Pan American has tried to establish necessary elements that would trigger precise outcomes to vary materially, there could also be different elements that trigger outcomes to not be as anticipated, estimated, described or supposed. Traders are cautioned in opposition to undue reliance on forward-looking statements or info. Ahead-looking statements and data are designed to assist readers perceive administration’s present views of our near- and longer-term prospects and will not be acceptable for different functions. Pan American doesn’t intend, nor does it assume any obligation to replace or revise forward-looking statements or info, whether or not because of new info, modifications in assumptions, future occasions or in any other case, besides to the extent required by relevant regulation.

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Contacts

Siren Fisekci
VP, Investor Relations & Company Communications
Ph: 604-806-3191
Electronic mail: ir@panamericansilver.com

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