FMS Lithium Corporation (“FMS”) would like to announce an update to its beneficial ownership of Pan American Energy Corp. (“PAN”) pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”). FMS reports that pursuant to a spin-out transaction whereby it divested its interest in Mustang Lithium LLC, it has ceased to have beneficial ownership or exercise direction and control over 20,563,387 common shares (the “Common Shares”) of PAN.

Prior to the divestment, FMS held or exercised control of, through Horizon Lithium LLC, 20,563,387 Common Shares, representing 21.6% of PAN’s issued and outstanding Common Shares on an undiluted basis. After the divestment, FMS does not indirectly or directly hold any Common Shares of PAN and is no longer an insider of PAN.

This news release is issued pursuant to NI 62-103, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning report of FMS will be available under PAN’s profile on SEDAR+ (

For further information or to receive a copy of the early warning report, please contact:

FMS Lithium CorporationSuite 210, 241 Ridge Street Reno, Nevada 89501 USAAttn: Shanthar PathmanathanT: +61 418232825

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.