Pan American Silver increases silver and gold reserves

Pan American Silver has updated its mineral reserves and resources as of June 30, 2026, reporting 511.1 million ounces of silver and 6.3 million ounces of gold in proven and probable reserves. The company noted that it successfully replenished more than 100% of the silver extracted during the period.

Growth was driven largely by new discoveries at the La Colorada operation in Zacatecas, Mexico. Exploration results identified four new veins and replacement mineralization, including the La Chona gap, which expands areas with potential for future mining operations. La Colorada holds 94.2 million ounces of silver in proven and probable reserves, with additional indicated and inferred resources.

The update also incorporates Pan American’s 44% attributable interest in Juanicipio, following the acquisition of MAG Silver in September 2025. As of August 31, the company had completed 351,000 meters of a planned annual drilling program exceeding 500,000 meters.