PAN ASIA METALS LIMITED (PAM)

The suspension of trading in the securities of Pan Asia Metals Limited will be lifted immediately following the release by PAM of an announcement regarding a proposed equity raise by way of a placement.

The company releases a notice of proposed issue of securities.

Commitments of $761,000 received for top-up share placement. $250,000 participation via Chairman and Managing Director, Paul Lock and Technical Director and Chief Geologist, David Hobby. PAM is finalising terms to begin an Inverse Polarisation ("IP") geophysics program to commence at the high-grade Rosario Copper Project in Chile, to be closely followed by an inaugural Reverse Circulation drilling program. The Rosario Copper Project is one of the newest high potential early stage copper projects in Chile's Central Copper Belt, 10km north of the famous El Salvador Copper Mine.

The securities of Pan Asia Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of PAM, pending the release of an announcement regarding a proposed equity raise by way of a placement.

The suspension of trading in the securities of Pan Asia Metals Limited is expected to be lifted from the commencement of trading on Monday, 8 July 2024 following the release by PAM of an announcement regarding the recent completion of a capital raising, its financial position and planned activities.

The Company's business strategy and activities following completion of its capital raising via a Placement are as follows. The RK project has three prospects and is the subject of an MOU between PAM and IRPC to consider a definitive agreement for the construction of a lithium mine, a lithium conversion facility and a cathode active material processing facility. The Company is currently undertaking a Feasibility Study on the RK Lithium Prospect; the BT Lithium Prospect is awaiting assays prior to preparation of an inaugural Mineral Resource Estimate; the KT Lithium Prospect is the subject of initial fieldwork where PAM recently reported the discovery of the very large mineralised lepidolite pegmatite dyke swarm. PAM is in discussions with several strategic partners/investors with the objective of bringing specialist knowledge and capital to the project. PAM expects an outcome from these discussions in the September 2024 quarter however, there can be no guarantee that these discussions will result in any agreement/s or other outcome between the parties. The Tama Atacama Lithium Project has six prospects on which PAM is targeting lithium brines. Part of the funds raised from the recent Placement will be used to fund project geophysics and initial exploration drilling at this Project. PAM has taken steps to initiate a geophysics program in the northern part of the project area. The results from this program will govern the location of drill holes in an initial, limited drilling campaign, which will start with relatively cheap reconnaissance drilling.

The company releases an application for quotation of securities.

The steps required and likely timeframe to return value to shareholders through the distribution of the remaining available assets has been detailed, and that process is progressing. However, due to the Company's prolonged suspension, it will be removed from the official list of the ASX effective 1 July 2024. It is ASX policy to remove from the official list an entity whose securities have been suspended from quotation for a continuous period of two years.

The company releases a cleansing prospectus.

The company releases a notice of proposed issue of securities.

The Company has raised a further $200,000 (before costs) by way of Placement to existing Asian based institutional shareholders to support the reinstatement of quotation of its securities on ASX.

The company has identified an abundant lepidolite pegmatite zone of 1.5km x 500m in the RK Lithium Project - KT East Lithium Prospect.

The company releases a notice of application for quotation of securities.

The company releases a cleansing prospectus.

The company releases a notice of application for quotation of securities.

Pegmatite field dyke swarm now 2400m long and 2400m wide. Dyke Swarm remains open in many directions. Individual dykes up to 20m wide. Hand held XRF (hhXRF) of rock-chip samples has returned highly elevated Li pathfinder elements such as rubidium (Rb) and ceasium (Cs). Modelled Li2O grades using Rb regression supported by the presence of lepidolite and white mica. Geology and hhXRF derived geochemistry are very similar to RK and BT Lithium Prospects. Exploration now progressing towards grid based geochemical sampling and mapping. Initial focus is to establish strike length and width of major lithium rich dyke trends. Preliminary drill sites identified, many more to assess. No further permissions required, drill ready.

The company raised $852,219 through the issue of Convertible Notes as interim funding on 28 March 2024. A further Note with a face value of THB 1,000,000 was also received from Director Chanyapoon, subject to shareholder approval at the Company's Annual General Meeting. The total funds received were $602,000, with Convertible Notes issued to cover outstanding liabilities and an option fee for the Tama Atacama Lithium Project. Shareholders approved the issue of Director Chanyapoon's Convertible Notes at the meeting.

The company provides a response to a Financial Condition Query.

PAM receives firm commitments to raise $1.2 million by way of Placement. PAM secures $10 million "˜At-the-Market' funding facility with Alpha Investment Partners. The ATM facility will help support the Company's strong financial position to accelerate development of the Tama Atacama Lithium and RK Lithium projects. The ATM facility provides PAM with access to cost-effective standby equity capital during its 5-year term. The Company has the option to negotiate with AIP a potential increase in the facility face value or term as it delivers successful outcomes.

The company's Annual Report complies with relevant Accounting Standards and provides a fair view of its financial performance and position. The company believes its financial condition is sufficient to warrant continued quotation of securities and listing under Listing Rule 12.2. As of 31 December 2023, PAM's cash and cash equivalents were $120,138, its working capital deficit was $1.3 million, and its loss for the year before tax was $3.3 million. Liabilities include advances for director share purchases, salaries, and director's fees payable to current directors. Approval to issue shares to directors was received at the AGM on 6 May 2024. The company raised cash of $366k during the quarter ended 31 March 2024, which has helped reduce the deficit. The loss of $3.3 million relates to PAM's investment in exploration and feasibility work on its lithium projects, which has been expensed. The increased cash position of $167k reflects excess cash after expenses and the cash contribution from the issue of the Convertible Note. PAM had 0.49 quarters funded as of March 31, and this ratio will increase in excess of 2.0x due to capital raising and an offer from Alpha Investment Partners to enter into a $10 million 'At-the-Market' funding facility. The board believes that the capital raised and equity line funds will provide sufficient funds to meet the company's working capital requirements for at least 12 months.

Exploration licenses for KT East Lithium Prospects approved. Dyke swarm defined, +800m long +350m wide, open in all directions. Individual dykes up to 20m wide. Hand held XRF (hhXRF) of 46 rock-chip samples returned highly elevated Li pathfinder elements such as rubidium (Rb) and ceasium (Cs). Modelled Li2O grades using Rb regression are supported by presence of lepidolite and white mica. Geology and hhXRF derived geochemistry are very similar to RK and BT Lithium Prospects. First batch of samples for laboratory analysis to be dispatched. Delineating extent of prospective zone and defining geology and geometry of a large dyke swarm. Preliminary drill sites identified. No further permissions required, drill ready.

The securities of Pan Asia Metals Limited were suspended at PAM's request on 1 February 2024. PAM's securities will now be suspended from quotation under Listing Rule 17.3.1. The securities will remain suspended until such time as ASX is satisfied with PAM's compliance with the Listing Rules, including Listing Rule 3.1 and 12.2 and that it is otherwise appropriate for PAM's securities to be reinstated to quotation.

The company releases the Corporate Overview Presentation.

The company releases the Tama Atacama Lithium Presentation.

The company releases the results of the annual general meeting and extraordinary general meeting.

The company requested a voluntary suspension of its securities from ASX on February 1, 2024, pending an announcement about an equity raise through placement. PAM is in discussions with strategic investors about their participation in the Placement. Due to the prolonged discussions, PAM initiated a capital raising program via Private Placement, expected to finish by May 6. The voluntary suspension will continue until May 9, 2024, or the company releases the outcome of the Placement.

The company lodges its Quarterly Activities/Appendix 5B Cash Flow Report.

Chile's National Lithium Strategy is advancing, further clarifications recently published. Private companies will be permitted to explore for, extract and process lithium. PAM has ~1,200km2 of concession holdings which qualify for the RFI Process. These properties have been secured on the basis of their prospectivity for Li brines. PAM to submit RFI before the June 17 deadline. Additional lithium brine blocks under consideration.

PAM remains in discussions with strategic investors regarding their participation in the Placement. As these discussions have been prolonged, PAM will be initiating a capital raising program via Private Placement, with further information to be provided in the coming week. The Company will remain in voluntary suspension until such time the Placement is concluded. The Company expects the voluntary suspension will continue until the 2nd of May, 2024 or a release to the market by the Company in relation to the outcome of the Placement.

The company's EGM will be held at 4.30pm (AEST) on Monday, 6th May 2024 at Sir Warwick Fairfax Room Radisson Blu Plaza Hotel 27 O'Connell Street Sydney NSW 2000.

The company's AGM will be held at 4.00pm (AEST) on Monday, 6th May 2024 at Sir Warwick Fairfax Room Radisson Blu Plaza Hotel 27 O'Connell Street Sydney NSW 2000.

PAM remains in discussions with strategic investors regarding their participation in the Placement and the Company will remain in voluntary suspension until such time the Placement is concluded. The Company expects the voluntary suspension will continue until the 18th of April 2024 or a release to the market by the Company in relation to the outcome of the Placement.

The company releases its Appendix 4G and Corporate Governance Statement.

The company lodges its Annual Report.

The company releases a notice of proposed issue of securities.

PAM receives commitments of $894,619 before costs for its Convertible Note. Positions PAM to satisfy its working capital requirements as it continues discussions with strategic investors. Participation during voluntary suspension confirms strong support for PAM's lithium exploration and development assets and business strategy. Positive developments regarding lithium exploration and project development in Thailand and Chile position PAM well for future growth.

PAM remains in discussions with strategic investors regarding their participation in the Placement and the Company will remain in voluntary suspension until such time the Placement is concluded. The Company expects the voluntary suspension will continue until the 4th of April 2024 or a release to the market by the Company in relation to the outcome of the Placement.

PAM remains in discussions with strategic investors regarding their participation in the Placement and the Company will remain in voluntary suspension. The Company expects the voluntary suspension will continue until the 21st of March 2024 or a release to the market by the Company in relation to the outcome of the Placement.

The Company has successfully submitted re-applications over its RK and BT Lithium Prospects, which make up the RK Lithium Project. Re-application is on the back of strong Government support and agreement from the Department of Primary Industries and Mines to expedite the licensing processes at PAM's RK Lithium Project as it forms an important aspect of Thailand's electric vehicle supply chain.

PAM remains in discussions with strategic investors regarding their participation in the Placement and the Company will remain in voluntary suspension. The Company expects the voluntary suspension will continue until the 7th of March 2024 or a release to the market by the Company in relation to the outcome of the Placement.

PAM remains in discussions with strategic investors regarding their participation in the Placement and the Company will remain in voluntary suspension. The Company expects the voluntary suspension will continue until the 22 February 2024 or a release to the market by the Company in relation to the outcome of the Placement.

The company releases its Tama Atacama Lithium Presentation.

A fourth series of Exploration Concessions have been granted at its Tama Atacama Lithium Project, increasing the total area of granted Exploration Concessions under Option Agreements and MOU to ~996km2 or 99,600Ha. PAM has received confirmation that an additional net total of ~116km2 or 11,600Ha of Exploration Concessions have been granted, mainly at the Pink Lithium Prospect, which forms part of PAM's Tama Atacama Lithium Project. PAM is in discussions with geophysics and drilling service providers and plans to begin drilling on granted license areas at the Pink Project early this year.

PAM had expected to come out of suspension today however, discussions with a strategic investor regarding their participation in the Placement are ongoing and the Company will remain in voluntary suspension. The Company expects the voluntary suspension will continue until the 15 February 2024 or a release to the market by the Company in relation to the outcome of the Placement.

The Company lodges its Replacement Quarterly Reports.

A third series of Exploration Concessions have been granted at its Tama Atacama Lithium Project. An additional net total of ~244km2 or 24,400Ha of Exploration Concessions have been granted at the Dolores North, Pozon and Ramatidas Lithium Prospects, which are situated to the north (Dolores North, Pozon) and south (Ramatidas) of the Pink Lithium Prospect and form part of PAM's Tama Atacama Lithium Project. These granted Exploration Concessions fall within Option Agreements 1 and 2 and bring the total area under granted Exploration Concessions to ~630km2 or 63,000Ha. PAM is in discussions with geophysics and drilling service providers and plans to begin drilling on granted license areas at the Pink Project early this year.

The Company has received several enquiries from its shareholders expressing concern as to the purpose of the Suspension. To clarify, the Suspension is voluntary in nature and was requested by the Company while discussions with a strategic investor continue regarding that investor's participation in the Placement. The Company expects the voluntary suspension will last until the earlier of the commencement of trading on 8 February 2024 or a release to the market by the Company in relation to the outcome of the Placement.

The securities of Pan Asia Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of PAM, pending the release of an announcement in relation to a proposed equity raise by way of a placement.

The suspension of trading in the securities of Pan Asia Metals Limited is expected to be lifted from the commencement of trading on Thursday, 22 December 2022, following the release by PAM of an announcement regarding a response to ASX queries in relation to a business update.

The Company retracts the Article released on mining.com.au on 13 December 2022 as it does not have any reasonable basis for stating the Malaysian Government Support Information and investors should not rely on that information for their investment decision.

The company releases a response to ASX Aware Query.

Pan Asia Metals Limited requests the granting of an extension to the suspension for its securities pending an announcement by the Company in relation to a business update. It is requested that the suspension continue until the earlier of 1 trading day from the date of this letter or when a market release is issued indicating the recommencement of trading (which is expected to be issued prior to the open of trading on Thursday 22 December 2022).

Pan Asia Metals Limited requests the granting of an extension to the suspension for its securities pending an announcement by the Company in relation to a business update. It is requested that the suspension continue until the earlier of 1 trading day from the date of this letter or when a market release is issued indicating the recommencement of trading (which is expected to be issued prior to the open of trading on Wednesday 21 December 2022).

Pan Asia Metals Limited requests the granting of an extension to the suspension for its securities pending an announcement by the Company in relation to a business update. It is requested that the suspension continue until the earlier of 1 trading day from the date of this letter or when a market release is issued indicating the recommencement of trading (which is expected to be issued prior to the open of trading on Tuesday 20 December 2022).

The company requests the granting of an extension to the suspension of its securities pending an announcmeent in relation to a business update.

The securities of Pan Asia Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of PAM, pending the release of an announcement regarding a business update.

The suspension of trading in the securities of Pan Asia Metals Limited will be lifted from the commencement of trading on Tuesday, 20 October 2020, following receipt of a response to ASX queries.

The company issues a response to ASX Queries.

The securities of Pan Asia Metals Limited will be suspended from quotation immediately under Listing Rule 17.3, pending a response to ASX queries.

listed entity carried for record purposes only