{"id":885410,"date":"2025-09-11T06:37:56","date_gmt":"2025-09-11T10:37:56","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30-2025\/"},"modified":"2025-09-11T06:37:56","modified_gmt":"2025-09-11T10:37:56","slug":"pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30-2025","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30-2025\/","title":{"rendered":"Pan American Silver Reports Mineral Reserves and Mineral Resources as at June 30, 2025"},"content":{"rendered":"

<\/p>\n

Pan American Silver Reports Mineral Reserves and Mineral Resources as at June 30, 2025<\/b><\/p>\n

VANCOUVER, British Columbia–(BUSINESS WIRE<\/a>)–Pan American Silver Corp.<\/b> (NYSE: PAAS) (TSX: PAAS) (“Pan American” or the “Company”) is pleased to report its estimated mineral reserves and mineral resources as at June 30, 2025. Proven and probable (“P&P”) mineral reserves are estimated to contain approximately 452.3 million ounces of silver and 6.3 million ounces of gold. Measured and indicated (“M&I”) mineral resources (excluding P&P mineral reserves) are estimated to total approximately 1,130.6 million ounces of silver and 9.9 million ounces of gold. Inferred mineral resources are estimated to total approximately 405.6 million ounces of silver and 8.6 million ounces of gold.<\/p>\n

\n“Our exploration program at La Colorada has enabled us to more than replace production at that mine as well as add 52.7 million ounces of silver in the inferred mineral resource category, mostly in the newly discovered high-grade silver zones reported in the news release dated September 8, 2025,” said Christopher Emerson, Pan American\u2019s Senior Vice President of Exploration and Geology. “Exploration success across our portfolio continues to extend the life of many of our operations.”<\/p>\n

\nThis news release does not report on, nor include, the estimated mineral reserves and mineral resources resulting from Pan American’s acquisition of MAG Silver Corp. (“MAG”). Pan American completed the acquisition of MAG on September 4, 2025, which added a 44% joint venture interest in the large-scale, high-grade Juanicipio silver mine in Zacatecas, Mexico, operated by Fresnillo plc, along with MAG’s interests in the Deer Trail and Larder exploration projects (collectively, the “MAG Properties”). For information regarding the MAG Properties, please see MAG’s Annual Information Form dated March 24, 2025, available under MAG’s profile at www.sedarplus.ca<\/a>.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Consolidated Proven and Probable Mineral Reserves, as at June 30, 2025 (1,2,3,4)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Segment<\/b><\/p>\n<\/td>\n

\n

Category<\/b><\/p>\n<\/td>\n

\n

Tonnes
\n
<\/b>(millions)<\/p>\n<\/td>\n

\n

Ag
\n
<\/b>(g\/t)<\/p>\n<\/td>\n

\n

Contained Ag
\n
<\/b>(Moz)<\/p>\n<\/td>\n

\n

Au
\n
<\/b>(g\/t)<\/p>\n<\/td>\n

\n

Contained Au
\n
<\/b>(koz)<\/p>\n<\/td>\n<\/tr>\n

\n

Silver Segment(5)<\/sup><\/b><\/p>\n<\/td>\n

\n

\nProven Reserves<\/p>\n<\/td>\n

\n

\n12.3<\/p>\n<\/td>\n

\n

\n271<\/p>\n<\/td>\n

\n

\n106.9<\/p>\n<\/td>\n

\n

\n0.38<\/p>\n<\/td>\n

\n

\n150<\/p>\n<\/td>\n<\/tr>\n

\n

\nProbable Reserves<\/p>\n<\/td>\n

\n

\n32.6<\/p>\n<\/td>\n

\n

\n291<\/p>\n<\/td>\n

\n

\n305.3<\/p>\n<\/td>\n

\n

\n0.33<\/p>\n<\/td>\n

\n

\n342<\/p>\n<\/td>\n<\/tr>\n

\n

Proven and Probable Reserves<\/b><\/p>\n<\/td>\n

\n

44.9<\/b><\/p>\n<\/td>\n

\n

286<\/b><\/p>\n<\/td>\n

\n

412.3<\/b><\/p>\n<\/td>\n

\n

0.34<\/b><\/p>\n<\/td>\n

\n

491<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Gold Segment(6)<\/sup><\/b><\/p>\n<\/td>\n

\n

\nProven Reserves<\/p>\n<\/td>\n

\n

\n62.7<\/p>\n<\/td>\n

\n

\n8<\/p>\n<\/td>\n

\n

\n16.3<\/p>\n<\/td>\n

\n

\n1.15<\/p>\n<\/td>\n

\n

\n2,328<\/p>\n<\/td>\n<\/tr>\n

\n

\nProbable Reserves<\/p>\n<\/td>\n

\n

\n90.8<\/p>\n<\/td>\n

\n

\n8<\/p>\n<\/td>\n

\n

\n23.8<\/p>\n<\/td>\n

\n

\n1.21<\/p>\n<\/td>\n

\n

\n3,519<\/p>\n<\/td>\n<\/tr>\n

\n

Proven and Probable Reserves<\/b><\/p>\n<\/td>\n

\n

153.5<\/b><\/p>\n<\/td>\n

\n

8<\/b><\/p>\n<\/td>\n

\n

40.1<\/b><\/p>\n<\/td>\n

\n

1.18<\/b><\/p>\n<\/td>\n

\n

5,847<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Total Segments(7)<\/sup><\/b><\/p>\n<\/td>\n

\n

\nProven Reserves<\/p>\n<\/td>\n

\n

\n75.0<\/p>\n<\/td>\n

\n

\n51<\/p>\n<\/td>\n

\n

\n123.2<\/p>\n<\/td>\n

\n

\n1.03<\/p>\n<\/td>\n

\n

\n2,478<\/p>\n<\/td>\n<\/tr>\n

\n

\nProbable Reserves<\/p>\n<\/td>\n

\n

\n123.4<\/p>\n<\/td>\n

\n

\n83<\/p>\n<\/td>\n

\n

\n329.1<\/p>\n<\/td>\n

\n

\n0.97<\/p>\n<\/td>\n

\n

\n3,861<\/p>\n<\/td>\n<\/tr>\n

\n

Proven and Probable Reserves<\/b><\/p>\n<\/td>\n

\n

198.4<\/b><\/p>\n<\/td>\n

\n

71<\/b><\/p>\n<\/td>\n

\n

452.3<\/b><\/p>\n<\/td>\n

\n

0.99<\/b><\/p>\n<\/td>\n

\n

6,339<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n
\n

\n(1) See table below entitled “Metal price assumptions used to estimate mineral reserves and mineral resources as at June 30, 2025”.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(2) Please refer to the complete mineral reserve and mineral resource tables at the end of this news release for more information.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(3) This summary table does not include base metal grades or contents. Please refer to the Reserves & Resources<\/a> page on Pan American’s website for a more complete table, including zinc (“Zn”), lead (“Pb”) and copper (“Cu”) grades and contents.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(4) This table does not include mineral reserves resulting from Pan American’s acquisition of MAG, including from Pan American’s share of Juanicipio’s mineral reserves.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(5) Silver Segment mineral reserves comprised of Escobal, La Colorada, Huaron, San Vicente, and Cerro Moro.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(6) Gold Segment mineral reserves comprised of Jacobina, Shahuindo, El Pe\u00f1on, Timmins, and Minera Florida.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(7) Totals may not add up due to rounding. Grades are calculated on total tonnes.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Consolidated Measured and Indicated Mineral Resources, as at June 30, 2025 (1,2,3,4,5)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Segment<\/b><\/p>\n<\/td>\n

\n

Category<\/b><\/p>\n<\/td>\n

\n

Tonnes
\n
<\/b>(millions)<\/p>\n<\/td>\n

\n

Ag
\n
<\/b>(g\/t)<\/p>\n<\/td>\n

\n

Contained Ag
\n
<\/b>(Moz)<\/p>\n<\/td>\n

\n

Au
\n
<\/b>(g\/t)<\/p>\n<\/td>\n

\n

Contained Au
\n
<\/b>(koz)<\/p>\n<\/td>\n<\/tr>\n

\n

Silver Segment(6)<\/sup><\/b><\/p>\n<\/td>\n

\n

\nMeasured Resources<\/p>\n<\/td>\n

\n

\n21.0<\/p>\n<\/td>\n

\n

\n154<\/p>\n<\/td>\n

\n

\n103.8<\/p>\n<\/td>\n

\n

\n0.12<\/p>\n<\/td>\n

\n

\n82<\/p>\n<\/td>\n<\/tr>\n

\n

\nIndicated Resources<\/p>\n<\/td>\n

\n

\n426.8<\/p>\n<\/td>\n

\n

\n73<\/p>\n<\/td>\n

\n

\n999.4<\/p>\n<\/td>\n

\n

\n0.03<\/p>\n<\/td>\n

\n

\n348<\/p>\n<\/td>\n<\/tr>\n

\n

M&I Resources<\/b><\/p>\n<\/td>\n

\n

447.8<\/b><\/p>\n<\/td>\n

\n

77<\/b><\/p>\n<\/td>\n

\n

1,103.3<\/b><\/p>\n<\/td>\n

\n

0.03<\/b><\/p>\n<\/td>\n

\n

431<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Gold Segment(7)<\/sup><\/b><\/p>\n<\/td>\n

\n

\nMeasured Resources<\/p>\n<\/td>\n

\n

\n115.0<\/p>\n<\/td>\n

\n

\n3<\/p>\n<\/td>\n

\n

\n10.2<\/p>\n<\/td>\n

\n

\n1.06<\/p>\n<\/td>\n

\n

\n3,923<\/p>\n<\/td>\n<\/tr>\n

\n

\nIndicated Resources<\/p>\n<\/td>\n

\n

\n146.4<\/p>\n<\/td>\n

\n

\n4<\/p>\n<\/td>\n

\n

\n17.2<\/p>\n<\/td>\n

\n

\n1.18<\/p>\n<\/td>\n

\n

\n5,541<\/p>\n<\/td>\n<\/tr>\n

\n

M&I Resources<\/b><\/p>\n<\/td>\n

\n

261.3<\/b><\/p>\n<\/td>\n

\n

3<\/b><\/p>\n<\/td>\n

\n

27.3<\/b><\/p>\n<\/td>\n

\n

1.13<\/b><\/p>\n<\/td>\n

\n

9,464<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Total Segments(8)<\/sup><\/b><\/p>\n<\/td>\n

\n

\nMeasured Resources<\/p>\n<\/td>\n

\n

\n136.0<\/p>\n<\/td>\n

\n

\n26<\/p>\n<\/td>\n

\n

\n114.0<\/p>\n<\/td>\n

\n

\n0.92<\/p>\n<\/td>\n

\n

\n4,005<\/p>\n<\/td>\n<\/tr>\n

\n

\nIndicated Resources<\/p>\n<\/td>\n

\n

\n573.1<\/p>\n<\/td>\n

\n

\n55<\/p>\n<\/td>\n

\n

\n1,016.6<\/p>\n<\/td>\n

\n

\n0.32<\/p>\n<\/td>\n

\n

\n5,889<\/p>\n<\/td>\n<\/tr>\n

\n

M&I Resources<\/b><\/p>\n<\/td>\n

\n

709.1<\/b><\/p>\n<\/td>\n

\n

50<\/b><\/p>\n<\/td>\n

\n

1,130.6<\/b><\/p>\n<\/td>\n

\n

0.43<\/b><\/p>\n<\/td>\n

\n

9,894<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
\n

\n(1) See table below entitled “Metal price assumptions used to estimate mineral reserves and mineral resources as at June 30, 2025”.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(2) Mineral resources are reported exclusive of mineral reserves.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(3) Please refer to the complete mineral reserve and resource tables at the end of this news release for more information.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(4) This summary table does not include base metal grades or contents. Please refer to the Reserves & Resources<\/a> page on Pan American’s website for a more complete table, including Zn, Pb and Cu grades and contents.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(5) This table does not include mineral resources resulting from Pan American’s acquisition of MAG, including from Pan American’s share of Juanicipio’s mineral resources and from the Larder Project.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(6) Silver Segment mineral resources comprised of Navidad, La Colorada Skarn, Escobal, Huaron, La Colorada, Manantial Espejo, Cerro Moro, and San Vicente.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(7) Gold Segment mineral resources comprised of Jacobina, La Pepa, El Pe\u00f1on, Minera Florida, La Bolsa, Lavra Velha, Pico Machay, Timmins, Shahuindo, Vogel, Gold River, Whitney, and Marlhill.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(8) Totals may not add up due to rounding. Grades are calculated on total tonnes.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n
\n

Consolidated Inferred Mineral Resources, as at June 30, 2025 (1,2,3,4,5)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Segment<\/b><\/p>\n<\/td>\n

\n

Category<\/b><\/p>\n<\/td>\n

\n

Tonnes
\n
<\/b>(millions)<\/p>\n<\/td>\n

\n

Ag
\n
<\/b>(g\/t)<\/p>\n<\/td>\n

\n

Contained Ag
\n
<\/b>(Moz)<\/p>\n<\/td>\n

\n

Au
\n
<\/b>(g\/t)<\/p>\n<\/td>\n

\n

Contained Au
\n
<\/b>(koz)<\/p>\n<\/td>\n<\/tr>\n

\n

Silver Segment(6)<\/sup><\/b><\/p>\n<\/td>\n

\n

\nInferred
\n
Resources<\/p>\n<\/td>\n

\n

\n133.8<\/p>\n<\/td>\n

\n

\n87<\/p>\n<\/td>\n

\n

\n375.2<\/p>\n<\/td>\n

\n

\n0.08<\/p>\n<\/td>\n

\n

\n356<\/p>\n<\/td>\n<\/tr>\n

\n

Gold Segment(7)<\/sup><\/b><\/p>\n<\/td>\n

\n

\nInferred
\n
Resources<\/p>\n<\/td>\n

\n

\n176.9<\/p>\n<\/td>\n

\n

\n5<\/p>\n<\/td>\n

\n

\n30.4<\/p>\n<\/td>\n

\n

\n1.44<\/p>\n<\/td>\n

\n

\n8,204<\/p>\n<\/td>\n<\/tr>\n

\n

Total Segments(8)<\/sup><\/b><\/p>\n<\/td>\n

\n

\nInferred
\n
Resources<\/p>\n<\/td>\n

\n

\n310.7<\/p>\n<\/td>\n

\n

\n41<\/p>\n<\/td>\n

\n

\n405.6<\/p>\n<\/td>\n

\n

\n0.86<\/p>\n<\/td>\n

\n

\n8,560<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
\n

\n(1) See table below entitled “Metal price assumptions used to estimate mineral reserves and mineral resources as at June 30, 2025”.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(2) Mineral resources are reported exclusive of mineral reserves.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(3) Please refer to the complete mineral reserve and mineral resource tables at the end of this news release for more information.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(4) This summary table does not include base metal grades or contents. Please refer to the Reserves & Resources<\/a> page on Pan American’s website for a more complete table, including Zn, Pb and Cu grades and contents.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(5) This table does not include mineral resources resulting from Pan American’s acquisition of MAG, including from Pan American’s share of Juanicipio’s mineral resources and from the Larder Project.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(6) Silver Segment inferred mineral resources comprised of Navidad, La Colorada, La Colorada Skarn, Huaron, San Vicente, Escobal, Cerro Moro, and Manantial Espejo.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(7) Gold Segment inferred mineral resources comprised of Jacobina, Gold River, El Pe\u00f1on, Arco Sul, Minera Florida, Whitney, Pico Machay, Timmins, La Pepa, Lavra Velha, La Bolsa, Vogel, and Shahuindo.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(8) Totals may not add up due to rounding. Grades are calculated on total tonnes.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(9) This information represents the portion of mineral reserves attributable to Pan American based on its ownership interest in the operating entity, as indicated in this news release.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Mineral reserve and mineral resource highlights for the 12-months ended June 30, 2025:<\/b><\/p>\n