-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 SA7vNRQM+OiPqn7QO4G05e7Z+ldMcDHb3O6VXv8WYIO3gftEB0xIO45gCCe6Xc/+
 bttlojvqz6AFZt6kTgngTA==

<SEC-DOCUMENT>0001171843-07-000168.txt : 20070419
<SEC-HEADER>0001171843-07-000168.hdr.sgml : 20070419
<ACCEPTANCE-DATETIME>20070419172636
ACCESSION NUMBER:		0001171843-07-000168
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20070419
FILED AS OF DATE:		20070419
DATE AS OF CHANGE:		20070419

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAN AMERICAN SILVER CORP
		CENTRAL INDEX KEY:			0000771992
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13727
		FILM NUMBER:		07776811

	BUSINESS ADDRESS:	
		STREET 1:		1500-625 HOWE STREET
		CITY:			VANCOUVER BC CANADA
		STATE:			A1
		ZIP:			V6C 2T6

	MAIL ADDRESS:	
		STREET 1:		1500 625 HOWE ST
		CITY:			VANCOUVER BC V6C 2T6
		STATE:			A1
		ZIP:			999999999

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAN AMERICAN MINERALS CORP
		DATE OF NAME CHANGE:	19950608
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6k_041907.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<!DOCTYPE html
	PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"
	"http://www.w3.org/TR/html4/loose.dtd">
<html lang="en-US">
<head>
  <title>Form 6-K Filing</title>
</head>

<body>

<p align="center">
  <font size="5">
    <b>UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br></b>
  </font>
</p>

<p align="center">
  <font size="3">
    <b>Washington, D.C. 20549</b>
  </font>
</p>


<hr noshade="1" width="120" align="center">
<p align="center">
  <font size="5">
    <b>FORM 6-K</b><br>
  </font>
</p>
<hr noshade="1" width="120" align="center">

<p align="center">
  <font size="3">
    <b>REPORT OF FOREIGN PRIVATE ISSUER</b><br><br>
    <b>Pursuant to Rule&nbsp;13a-16 or 15d-16 of</b><br>
	<b>The Securities Exchange Act of 1934</b><br>
  </font>
</p>


<p align="center">
  <font size="3">
    <b>April 19, 2007</b><br>
  </font>
</p>

<hr noshade="1" width="150" align="center">

<p align="center">
  <font size="5">
    <b>Pan American Silver Corp.</b>
  </font>
   <br> <font size="2">
    (Exact name of registrant as specified in its charter)
  </font>
</p>


<p align="center">
  <font size="3">
    <b>1500-625 HOWE STREET<br>
VANCOUVER BC CANADA V6C 2T6</b>
  </font>
   <br> <font size="2">
    (Address of principal executive offices)
  </font>
</p>

<p align="center">
  <font size="3">
    <b>000-13727</b>
  </font>
   <br> <font size="2">
    (Commission File Number)
  </font>
</p>

<hr noshade="1" width="150" align="center">

<p align="center">
Indicate by check mark whether the registrant files or will file<br>
annual reports under cover of Form 20-F or Form 40-F:<br>
</p>

<p align="center">Form 20-F&nbsp;&nbsp;/  / &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Form 40-F&nbsp;&nbsp;/ x /</p>

<p align="center">
Indicate by check mark whether the registrant by furnishing the<br>
information contained in this form is also thereby furnishing the
information to the<br>
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.</p>

<p align="center">
Yes&nbsp;&nbsp;/ &nbsp; /
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No&nbsp;&nbsp;/ x /
</p>


<hr noshade="1">
<p>
  <font size="2">On April 19, 2007 the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.2 and is incorporated herein by reference.   </font>
</p>
		<p>
  <font size="2">(c) &nbsp;&nbsp; &nbsp;Exhibit 99.1. Material Change Report<br>
			</font><font size="2">&nbsp; &nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibit 99.2. Press release dated April 19, 2007 </font></p>
		<hr noshade="1">
		<!-- Registrant's Signature -->
<p>
  <font size="2">
    &nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the  requirements of the Securities Act of 1934, the registrant  has duly caused this report to be signed on its behalf by  the undersigned thereunto duly authorized.
  </font>
</p>

<table cellpadding="0" border="0" width="100%" cellspacing="0">

   <tr valign="top">
    <td width="47%">
      &nbsp;
    </td>
     <td width="5%">
      &nbsp;
    </td>
     <td width="47%" align="center">
      <font size="2">
        <b>Pan American Silver Corp.</b>
      </font>
       <hr noshade="1"> <font size="2">
        (Registrant)<br><br>
      </font>
    </td>
  </tr>

   <tr valign="top">
    <td width="47%" align="center">
      <font size="2">
        <b>April 19, 2007</b>
      </font>
       <hr noshade="1"> <font size="2">
        (Date)
      </font>
    </td>
     <td width="5%">
      &nbsp;
    </td>
     <td width="47%" align="center">
      <font size="2">
        <b>/s/ &nbsp; ROBERT PIROOZ</b>
      </font>
       <hr noshade="1"> <font size="2">
        Robert Pirooz
      </font>
       <br> <font size="2">
        <i>General Counsel and Secretary</i>
      </font>
    </td>
  </tr>
</table>

</body>
</html>





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title>
      Unassociated Document
</title><!-- Licensed to: NASDAQ-->
<!-- Document Created using EDGARizer HTML 3.0.4.0 -->
<!-- Copyright 2006 EDGARfilings, Ltd., an IEC company.-->
<!-- All rights reserved EDGARfilings.com -->
</head>
  <body bgcolor="#ffffff"><div id="lockwidth" style="width: 800px">
    <div>
      <div id="lockwidth" style="LEFT: 28px; MARGIN-LEFT: 0pt; WIDTH: 596px; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TOP: 0px; HEIGHT: 1202px" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Arial Narrow">Exhibit
        99.1&#160;<br></font>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>FORM
          51-102F3</strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong>MATERIAL
          CHANGE REPORT</strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><strong>ITEM
          1.</strong>&#160;<strong><em>NAME AND ADDRESS OF
          COMPANY</em></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Pan
          American Silver
          Corp. (the &#8220;<strong>Company</strong>&#8221;)</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>1500
          - 625 Howe
          Street</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Vancouver,
          British
          Columbia V6C 2T6</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><strong>ITEM
          2.</strong>&#160;<strong><em>DATE OF MATERIAL
          CHANGE</em></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>April
          19,
          2007</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><strong>ITEM
          3.</strong>&#160;<strong><em>NEWS
          RELEASE</em></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">A
          news release was issued by the Company on April 19, 2007 at
          Vancouver, British Columbia and distributed through the facilities of Canada
          NewsWire.</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><strong>ITEM
          4.</strong>&#160;<strong><em>SUMMARY OF MATERIAL
          CHANGE</em></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">The
          Company announced today that construction and development is
          progressing on schedule for April 2008 completion at its Manantial Espejo
          silver-gold project (the &#8220;Project&#8221;) located in the Province of Santa Cruz,
          Argentina. Development of the two primary ramps, which provide underground
          access to the Maria and Melissa ore zones, is proceeding on schedule.</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><strong>ITEM
          5.</strong>&#160;<strong><em>FULL DESCRIPTION OF
          MATERIAL CHANGE</em></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">See
          attached news release.</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><strong>ITEM
          6.</strong>&#160;<strong><em>RELIANCE ON SUBSECTION
          7.1(2) OR (3) OF NATIONAL INSTRUMENT 51-102</em></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">This
          report is <u>not</u> being filed on a confidential
          basis.</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><strong>ITEM
          7.</strong>&#160;<strong><em>OMITTED
          INFORMATION</em></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">There
          are no significant facts required to be disclosed herein
          which have been omitted.</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><strong>ITEM
          8.</strong>&#160;<strong><em>EXECUTIVE
          OFFICER</em></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>For
          further information, please contact:</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div align="center">
          <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

              <tr bgcolor="white">
                <td width="15%">&#160;</td>
                <td width="20%">&#160;&#160; Name:</td>
                <td width="65%">Robert Pirooz</td>
              </tr>
              <tr bgcolor="white">
                <td width="15%">&#160;</td>
                <td width="20%">&#160;&#160; Office:</td>
                <td width="65%">General Counsel</td>
              </tr>
              <tr bgcolor="white">
                <td width="15%">&#160;</td>
                <td width="20%">&#160;&#160; Telephone:&#160;</td>
                <td width="65%">(604) 687-0333</td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><strong>ITEM
          9.</strong>&#160;<strong><em>DATE OF
          REPORT</em></strong></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>DATED
          at Vancouver, British Columbia, this 19th
          day of April, 2007.</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="50%">

              <tr>
                <td width="20%">&#160;</td>
                <td align="justify" valign="top" width="28%" style="border-bottom: black thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#8220;Signed&#8221;
</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="50%">

              <tr>
                <td width="20%">&#160;</td>
                <td align="justify" valign="top" width="30%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">Robert
                    Pirooz</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">General
                    Counsel and
                    Secretary</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
    </div>
  </div></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exh_992.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<html>
  <head>
    <title>Pan American Silver Announces Manantial Espejo Project Construction Update</title>
  </head>
  <body><p align="right"><font size="2">EXHIBIT 99.2</font></p><h3 align="center">Pan American Silver Announces Manantial Espejo Project Construction Update</h3><h4 align="center">All Amounts in $US Unless Otherwise Stated</h4>
<p>VANCOUVER, British Columbia, April 19, 2007 (PRIME NEWSWIRE) -- Pan American Silver Corp. (Nasdaq:PAAS) (TSX:PAA) (the "Company") announced today that construction and development is progressing on schedule for April 2008 completion at its Manantial Espejo silver-gold project (the "Project") located in the Province of Santa Cruz, Argentina. Development of the two primary ramps, which provide underground access to the Maria and Melissa ore zones, is proceeding on schedule. To date, in excess of 500 metres has been advanced on both ramps, out of a total of 4,000 metres of development programmed for completion prior to plant commissioning.  With the majority of the surface mining equipment now on site, pre-stripping of the Karina Union open pit has ramped up to approximately 5,000 tonnes per day, with the waste material being used for the construction of the tailings containment dam. Bulk earthworks for the crushing and plant area are complete, concrete foundations for the maintenance shop have been poured, 
and concrete is currently being placed in the foundations for the mill building and grinding mill. Major mill components have been ordered and employee permanent housing construction is well advanced. The Company has hired nearly 170 employees who are advancing these mine developments, and close to 250 construction contract workers currently occupy the construction camp.
</p>
<p>
Project expenditures to March 31, 2007 were $32.4 million. Overall, the Company estimates that the Project is 25% complete.  Working with its third party EPCM contractor, the Company has just completed an updated capital cost control estimate for the Project. As a direct result of industry-wide cost escalations for construction materials and equipment, coupled with significantly higher in-country costs for labour, total capital costs for construction of the Project are now expected to be $170 million, which includes $21 million in refundable value added tax, up from the early-2006 feasibility estimate of $130 million. Included in this latest estimate is a further allowance for continued escalation through to Project completion.
</p>
<p>
Geoff Burns, President and CEO, stated: "Though I am frustrated by the unavoidable escalation in construction costs at the Manantial Espejo project, I am pleased with our construction and development progress to date. We have an exceptional team to manage the Project through the balance of construction and commissioning and will continue to closely monitor construction costs. We are receiving great cooperation from the federal and provincial governments in Argentina and remain on schedule for a May 2008 start-up."
</p>
<p>
Proven and probable silver reserves at Manantial Espejo increased 11% in 2006 to 38.5 million ounces and proven and probable gold reserves increased 7% to 547,000 ounces.(1)  Based on those reserves, the Project is expected to produce on average 4.1 million ounces of silver and 60,000 ounces of gold annually over a life of mine that has increased from 8 to more than 9 years.(2)
</p>
<p>
(1) Further information regarding the proven and probable reserve estimates for Manantial Espejo is contained in the Company's news release dated February 16, 2007.
</p>
<p>
(2) The technical information contained in the last paragraph of this news release has been prepared under the supervision of Michael Steinmann, P.Geo., Senior Vice President, Geology and Exploration, of the Company, who is a qualified person within the meaning of National Instrument 43-101.
</p>
<p>
The Pan American Silver Corp. logo is available at
http://www.primenewswire.com/newsroom/prs/?pkgid=3233
</p>
<p>
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
</p>
<p>
This press release contains "forward-looking information" within the meaning of the United States "Private Securities Litigation Reform Act" of 1995 and applicable Canadian securities legislation. Statements containing forward-looking information express, as at the date of this press release, the company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and the company does not intend, and does not assume any obligation to, update such statements containing the forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "projects" or "projected", "expects" or "does not expect", "is expected", "estimates", "forecasts", "scheduled", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or statements that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". St
atements containing forward-looking information include, but are not limited to, statements with respect to timing and budget of construction activities at Manantial Espejo, the anticipated economic returns of the Manantial Espejo project, the sufficiency of Pan American's current capital and anticipated cash flow, the accuracy of mineral reserve and resource estimates and estimates of anticipated silver and gold production from the Manantial Espejo mine.
</p>
<p>
Statements containing forward-looking information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Pan American Silver and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, risks related to technological and operational nature of the company's business, changes in local government legislation, taxation or the political or economic environment, exposure to fluctuations in the local currencies of those countries in which Pan American carries on business, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters to deal with unanticipated economic factors, future prices of silver, gold and base metals, increased competition in the mining industry for properties, equipment, qualified personnel, and their rising costs, unpredictable risks and hazards relating to the operati
on and development of our mines or properties, the speculative nature of exploration and development, fluctuations in the price for natural gas, fuel oil and other key supplies, as well as those factors described in the section "Risks Related to Pan American's Business" contained in the company's most recent form 40F/Annual Information form filed with the SEC and Canadian provincial securities regulatory authorities. Although the company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any statements containing forward-looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on statements containing
 forward-looking information.
</p>
<pre>
CONTACT:  Pan American Silver Corp.
          Alexis Stewart, Director Corporate &amp; Investor Relations
          (604) 684-1175
          astewart@panamericansilver.com
</pre>
</body>
</html>












</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
