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Gold/Mining/Energy : PAAS : Pan American Silver -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (165)	7/17/2001 10:20:35 PM
From: rails99	Respond to of 294

Nice post. You are keeping on top of the story. Hope you did well with it. Rails

To: Frank Pembleton who wrote (165)	8/2/2001 2:38:15 PM
From: Frank Pembleton	Respond to of 294

Pan American Acquires Remainder of Interest in Huaron Mine, Peru VANCOUVER, B.C.--(BUSINESS WIRE)--Aug. 2, 2001--Pan American Silver Corp. (NASDAQ:PAAS - news; TSE:PAA. - news) is pleased to announce completion of a transaction with Volcan Compania Minera S.A., Peru's largest zinc producer and a neighboring mine operator. The transaction grants Pan American Silver the remaining 27 percent interest in Huaron, plus $200,000 in cash, $500,000 in Volcan shares and other benefits. In exchange, Pan American will sell to Volcan 48 hectares of Huaron land adjacent to Volcan's mining operations, plus two parcels of distal Huaron exploration property. Pan American will record a gain of approximately $2.5 million in the third quarter to reflect the transaction. Pan American acquired the majority interest in the Huaron property in March 2000 and began full-scale operation of the Huaron silver-zinc mine in April 2001. Pan American now effectively owns all of the Huaron mine and 69,000-hectare property, one of the largest land holdings in the Cerro de Pasco mining district. The mine has had a smooth start-up and reached its designed capacity of about 50,000 tonnes of mill throughput in July. Pan American is a leading primary silver producer with three silver mines in operation. Silver output in 2001 should be approximately 7.5 million ounces, up from 3.6 million ounces in 2000, due to initiation of production from two new mines during the year. Pan American has strong near-term growth projects and is evaluating other acquisition opportunities. The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from the targeted results. Such risks and uncertainties include those described in the Company's Form 40-F as amended. All amounts are expressed in U.S. dollars.