PAN AMERICAN SILVER CORP . 1 Pan American Silver Early Warning News Release Regarding Shares of Anacortes Mining Corp.
NEWS RELEASE
PAN AMERICAN SILVER CORP . 1
Pan American Silver Early Warning News Release Regarding Shares of
Anacortes Mining Corp.
Vancouver, B.C. – May 17, 2023 - Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) (“ Pan American”) and its
wholly-owned subsidiary, Pan American Silver (Barbados) Corp. (“ PASB”), have sold an aggregate of 4,200,000
common shares of Anacortes Mining Corp. (TSXV: XYZ) (“ Anacortes”) on May 17 , 2023, pursuant to a private
agreement (the “Sale”). Pursuant to the Sale, Pan American received C$0.41 per common share of Anacortes, for
aggregate gross proceeds of C$1,722,000. Pan American now owns , directly and indirectly, less than 10% of the
issued and outstanding common shares of Anacortes.
Prior to the Sale, Pan American held directly or indirectly, or exercised control or direction over, 4,700,458 common
shares of Anacortes, representing approximately 11.04 % of the total issued and outstanding common shares of
Anacortes. Following the completion of the Sale , Pan American owns, directly or indirectly, or exercises control or
direction over 500,458 common shares of Anacortes, representing approximately 1 .18% of the total issued and
outstanding Anacortes common shares.
Pan American completed the Sale as a result of investment considerations. Pan American may from time to time and
at any time, acquire or dispose of securities of Anacortes in the open market or otherwise, depending on market
conditions, the business and prospects of Anacortes and other relevant factors.
The head office of Anacortes is a s follows: 1090 - 510 Burrard Street, Vancouver, BC V6C 3B9. This news release is
issued under the early warning provisions of applicable Canadian securities legislation. A copy of the early warning
report filed by Pan American with applicable securities commissions in connection with this dispo sition will be
available for viewing under Anacortes’ profile on SEDAR at www.sedar.com.
About Pan American Silver
Pan American is a leading producer of precious metals in the Americas, operating silver and gold mines in Canada,
Mexico, Peru, Bolivia, Argentina, Chile and Brazil. We also own the Escobal mine in Guatemala that is currently not
operating. We have been operating in the Americas for nearly three decades, earning an industry-leading reputation
for sustainability performance, operational excellence and prudent financial management. We are headquartered in
Vancouver, B.C. and our shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the
symbol "PAAS".
Learn more at panamericansilver.com.
For more information about Pan American, please contact:
Siren Fisekci
VP , Investor Relations & Corporate Communications
Ph: 604-806-3191
Email: [email protected]