Pan American Silver's "Corner Bay" warrants now exercisable by U.S. holders VANCOUVER, Aug. 20 /PRNewswire-FirstCall/ -- Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAA) has today filed a prospectus supplement to its base short form shelf prospectus dated January 26, 2004 with securities commissions in British Columbia, Alberta, Manitoba and Ontario and a corresponding prospectus supplement with the United States Securities and Exchange Commission under its previously filed registration statement which became effective on January 26, 2004. The purpose of this filing was to register in the United States the issuance of common shares to U.S. persons upon the exercise of the approximately 3.8 million warrants of the Company issued in February 2003 in connection with the Company's acquisition of Corner Bay Silver Inc. These outstanding warrants have an exercise price of Cdn$12.00 and expire on February 20, 2008. The Company does not intend to utilize these filings or any supplements thereto in connection with any share issuance other than upon the exercise of these warrants by U.S. holders. These filings allow the Company to make offerings of up to Cdn$45,819,960 million of common shares upon the exercise of the above warrants up to February 26, 2006 to potential purchasers in the filing provinces and the United States. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A copy of the prospectus may be obtained from the Company's Vice-President, Corporate Relations at the address set out below. For Further Information Contact: Brenda Radies, Vice-President Corporate Relations (604) 684-1175 DATASOURCE: Pan American Silver Corp. CONTACT: Brenda Radies, Vice-President Corporate Relations, (604) 684-1175

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