-----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,
 AH9TcBGo8GmFhWGu/C8RisKHAsqOtY4OoZvMiKwpvAaCzeAHWBBLagkA6AFkeuoc
 Of7Jen3oYNt7qbki8J0nfQ==

<SEC-DOCUMENT>0001199073-10-000311.txt : 20100420
<SEC-HEADER>0001199073-10-000311.hdr.sgml : 20100420
<ACCEPTANCE-DATETIME>20100420123610
ACCESSION NUMBER:		0001199073-10-000311
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20100419
FILED AS OF DATE:		20100420
DATE AS OF CHANGE:		20100420

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:		10758911

	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>d6k.htm
<DESCRIPTION>PAN AMERICAN SILVER CORP. FORM 6-K
<TEXT>
<html>
<head>
    <title>d6k.htm</title>
<!-- Licensed to: Marketwire-->
<!-- Document Created using EDGARizerAgent 5.1.6.0 -->
<!-- Copyright 1995 - 2009 Thomson Reuters. All rights reserved. -->
</head>
<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div>
      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
      <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">UNITED
STATES</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
D.C. 20549</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">__________________</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman">FORM
6-K&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">_____________________</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">REPORT
OF FOREIGN PRIVATE ISSUER</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
TO RULE 13a-16 OR 15d-16</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNDER
THE SECURITIES EXCHANGE ACT of 1934</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">April
19,</font>&#160;2010</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">_____________________</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 22pt; FONT-FAMILY: Times New Roman">Pan
American Silver Corp.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
name of registrant as specified in its charter)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt">1500-625 HOWE
STREET</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">VANCOUVER
BC CANADA V6C 2T6</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
of principal executive offices)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt">000-13727</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission
File Number)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">_____________________</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div align="left">
          <div>&#160;</div>
        </div>
        <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
          <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="#ffffff" cellpadding="0" cellspacing="0" width="30%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr bgcolor="#ffffff">
                  <td width="29%">
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Form
      20-F</font></div>
                  </td>
                  <td width="21%">
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></div>
                  </td>
                  <td width="25%">
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Form
      40-F</font></div>
                  </td>
                  <td width="25%">
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-FAMILY: wingdings">x</font></font></div>
                  </td>
                </tr></table>
          </div>
        </div>
        <div align="center">
          <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
            <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1). _____</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div align="center">
          <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr bgcolor="#ffffff">
                <td width="3%">&#160;</td>
                <td width="97%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Note: </font>Regulation S-T
      Rule 101(b)(1) only permits the submission in paper of a Form 6-K if
      submitted solely to provide an attached annual report to security holders.
      </font></div>
                </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="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ____ </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div align="center">
          <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr bgcolor="#ffffff">
                <td width="3%">&#160;</td>
                <td width="97%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Note:</font> Regulation S-T
      Rule 101(b)(7) only permits the submission in paper of a Form 6-K if
      submitted to furnish a report or other document that the registrant
      foreign private issuer must furnish and make public under the laws of the
      jurisdiction in which the registrant is incorporated, domiciled or legally
      organized (the registrant&#8217;s &#8220;home country&#8221;), or under the rules of the
      home country exchange on which the registrant&#8217;s securities are traded, as
      long as the report or other document is not a press release, is not
      required to be and has not been distributed to the registrant&#8217;s security
      holders, and, if discussing a material event, has already been the subject
      of a Form 6-K submission or other Commission filing on EDGAR.
    </font></div>
                </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="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
          <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" width="27%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr bgcolor="#ffffff">
                <td width="36%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Yes&#160;&#160;&#160;&#160;&#160;
      </font></div>
                </td>
                <td width="18%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: wingdings">o </font></font></div>
                </td>
                <td width="22%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;No</font></div>
                </td>
                <td width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline; FONT-FAMILY: wingdings">x</font></font></td>
              </tr></table>
        </div>
      </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="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If "Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">______</font></font>

        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div>
        <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="1">
        <hr style="MARGIN-TOP: -13px; COLOR: #000000" noshade size="4">
      </div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: gray" align="left" noshade size="2" width="100%">
          </div>
        </div>
        <div id="HDR" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Signatures&#160;</font></font></div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <table bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font></td>
          </tr><tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 12pt">&#160;</font></td>
            <td colspan="2">
              <div align="left">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt">Pan American
      Silver Corp.</font></font></div>
                </div>
              </div>
            </td>
          </tr><tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;<br>&#160;</font></td>
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Registrant)</font></font></td>
          </tr><tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date:&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">April
      19,</font>&#160;2010</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt">/s/&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">ROBERT
      PIROOZ</font></font></font></font></td>
          </tr><tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font size="1">&#160;</font></td>
            <td align="left">
              <hr style="COLOR: black" align="left" noshade size="1" width="90%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Robert
      Pirooz</font></font></div>
              </div>
            </td>
          </tr><tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font></td>
            <td>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-STYLE: italic">General Counsel and
      Secretary</font></font></div>
                </div>
              </div>
            </td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <hr style="COLOR: gray" align="left" noshade size="2" width="100%">
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <div align="left">
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT
LIST</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <div style="LINE-HEIGHT: 1.1" align="left">
        <div align="center">
          <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 9pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr bgcolor="white">
                <td width="8%" style="BORDER-BOTTOM: black 1px solid">
                  <div style="MARGIN-LEFT: 8pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">Exhibit</font></div>
                </td>
                <td width="4%" style="PADDING-BOTTOM: 1px">&#160;</td>
                <td width="88%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">Description</font></td>
              </tr><tr bgcolor="white">
                <td width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td valign="top" width="8%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font size="2" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.1</font></font></div>
                </td>
                <td width="4%">&#160;</td>
                <td width="92%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left">
                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 13.7pt; MARGIN-RIGHT: 0pt" align="left">
                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                                          <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                                            <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                                              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                                                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left">
                                                    <div>
                                                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                                                        <div style="TEXT-ALIGN: left" align="center">
                                                          <div style="TEXT-ALIGN: left" align="center">
                                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                                                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                                                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 14.1pt; TEXT-ALIGN: left" align="center">
                                                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                                                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                                                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                                                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 14.1pt; TEXT-ALIGN: left" align="center">
                                                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                                                                            <div style="DISPLAY: block; TEXT-INDENT: 0pt">
                                                                              <div style="DISPLAY: block; TEXT-INDENT: 0pt">
                                                                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                                                                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                                                                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 14.1pt; TEXT-ALIGN: left" align="center">
                                                                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 14.1pt; TEXT-ALIGN: left" align="center">
                                                                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                                                                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                                                                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center">
                                                                                              <div style="DISPLAY: block; TEXT-INDENT: 0pt">
                                                                                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                                                                                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 14.1pt; TEXT-ALIGN: left">
                                                                                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 14.1pt; TEXT-ALIGN: left">
                                                                                                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 14.1pt; TEXT-ALIGN: left">
                                                                                                        <div style="DISPLAY: block; TEXT-INDENT: 0pt">
                                                                                                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">

                                                                                                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">      </font></font></font></font>
                                                                                                              <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PAN AMERICAN SILVER REPORTS ON FIRST QUARTER SILVER
      AND GOLD
      PRODUCTION</font></div>
                                                                                                            </div>
                                                                                                          </div>
                                                                                                        </div>
                                                                                                      </div>
                                                                                                    </div>
                                                                                                  </div>
                                                                                                </div>
                                                                                              </div>
                                                                                            </div>
                                                                                          </div>
                                                                                        </div>
                                                                                      </div>
                                                                                    </div>
                                                                                  </div>
                                                                                </div>
                                                                              </div>
                                                                            </div>
                                                                          </div>
                                                                        </div>
                                                                      </div>
                                                                    </div>
                                                                  </div>
                                                                </div>
                                                              </div>
                                                            </div>
                                                          </div>
                                                        </div>
                                                      </div>
                                                    </div>
                                                  </div>
                                                </div>
                                              </div>
                                            </div>
                                          </div>
                                        </div>
                                      </div>
                                    </div>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </td>
              </tr></table>
        </div>
      </div>
    </div>
  </body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99_1.htm
<DESCRIPTION>PAN AMERICAN SILVER REPORTS ON FIRST QUARTER SILVER AND GOLD PRODUCTION
<TEXT>
<html>
<head>
    <title>ex99_1.htm</title>
<!-- Licensed to: Marketwire-->
<!-- Document Created using EDGARizerAgent 5.1.6.0 -->
<!-- Copyright 1995 - 2009 Thomson Reuters. All rights reserved. -->
</head>
<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font>

    <div>
      <hr style="COLOR: black" align="left" noshade size="1" width="100%">
    </div>
    <div style="TEXT-ALIGN: right"><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
99.1</font></div>
    <div><font style="FONT-WEIGHT: normal"><br><br></font>

      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><img src="logo.jpg" alt="Graphic"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">PAN
AMERICAN SILVER REPORTS ON FIRST QUARTER SILVER AND GOLD PRODUCTION</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Huaron
Mine Resumes Operations</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(All
amounts in US dollars unless otherwise stated)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Vancouver, B.C. &#8211; April 19, 2010 &#8211;
Pan American Silver Corp.</font> (&#8220;Pan American&#8221; or the &#8220;Company&#8221;), (NASDAQ:
PAAS; TSX: PAA) today reports that the illegal strike which began on April
10<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font> at
its Huaron mine in Peru was settled on April 15<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font> and
that normal operations have&#160;&#160;resumed.&#160;&#160;In addition, the
Company is pleased to take this opportunity to provide an update on its first
quarter 2010 silver and gold production.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">First
Quarter 2010 Production</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Silver
      production was 5.5 million ounces, an increase of 13% as compared to the
      1<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">st</font>
      quarter of last year.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gold
      production was 27,896 ounces, an increase of 34% as compared to the 1<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">st</font>
      quarter of 2009.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cash
      costs declined to approximately $4.50 per ounce, net of by-product
      credits, 27% lower than the cash costs in the first three months of
      2009.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consolidated
silver production was 3% behind 2010&#8217;s forecast for the first quarter, whereas
gold production was almost 8,000 ounces above plan.&#160;&#160;Cash costs for
the first three months of 2010 were approximately $4.50 per ounce, well below
the Company&#8217;s forecast of $6.40 per ounce<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top"> (1)</font>
for the full year.&#160;&#160;Better than expected gold production primarily
from the Manantial Espejo mine in Argentina and higher than predicted gold
prices were the key contributors to the lower cash costs.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Silver
production from the Morococha and Quiruvilca mines in Peru and the La Colorada
mine in Mexico was in line with the Company&#8217;s forecast, while silver production
at the Huaron mine was well below expectations due to adverse ground conditions
in several key production areas.&#160;&#160;Alamo Dorado and San Vicente both
had excellent first quarters and were able to largely overcome Huaron&#8217;s
production shortfall for the quarter.&#160;&#160;Manantial Espejo&#8217;s silver
production was also below forecast; however, the mine&#8217;s higher than expected
gold production more than compensated for this fact.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on
the first quarter&#8217;s performance, Pan American still expects to achieve its full
year silver production forecast of 23.4 million ounces <font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font>.&#160;&#160;It
is expected that production from Huaron will continue to be adversely affected
by the difficult ground conditions until the third quarter of the year and thus
the mine will likely fall short of its full year silver production
target.&#160;&#160;However, better than anticipated silver ore grades at Alamo
Dorado and San Vicente are also likely to continue and should entirely offset
Huaron&#8217;s shortfall for the year.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, the Company anticipates that the positive gold production trend at
Manantial Espejo will continue throughout the year and is therefore revising its
anticipated 2010 consolidated gold</font></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div style="WIDTH: 100%" align="left">
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
                    <td>
                      <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1500
      &#8211; 625 <font style="DISPLAY: inline; FONT-SIZE: 10pt">H</font>OWE <font style="DISPLAY: inline; FONT-SIZE: 10pt">S</font>TREET, <font style="DISPLAY: inline; FONT-SIZE: 10pt">V</font>ANCOUVER, <font style="DISPLAY: inline; FONT-SIZE: 10pt">BC C</font>ANADA&#160;&#160;V6C
      2T6</font></div>
                    </td>
                  </tr></table>
            </div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
                    <td>
                      <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">T</font>EL
      604.684.1175&#160;&#160;&#8226;&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt">F</font>AX
      604.684.0147</font></div>
                    </td>
                  </tr></table>
            </div>
            <div>
              <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
                    <td>
                      <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">www.panamericansilver.com</font></div>
                    </td>
                  </tr></table>
            </div>
          </div>
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: darkgray" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">production
forecast upwards to 95,000 ounces <font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font> and
its consolidated cash costs downwards to $5.90 per silver ounce net of the
by-product credits <font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font>.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;We&#8217;ve
had a very solid start to 2010 and precious metals prices have remained robust,&#8221;
said Geoff Burns, President and CEO.&#160;&#160;&#8220;Silver averaged $16.93 per
ounce in the first three months of 2010 and should provide very healthy
operating margins for Pan American, even though the price was not quite as high
as the consensus analyst expectations of US$18.40 per ounce.&#8221;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pan
American will release its complete first quarter financial and operating results
after market close on Monday, May 10<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font>.&#160;&#160;A
conference call to discuss the quarterly results and the progress at the
Company&#8217;s development projects will be held on Tuesday, May 11<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font> at
8:00 am Pacific Time (11:00 am Eastern Time).</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Details
for the conference call and live audio webcast will be announced
shortly.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font> In
the Company&#8217;s 2009 Annual MD&amp;A, as filed on SEDAR on March 22, 2010, Pan
American provided forecasts for fiscal 2010&#8217;s silver production, gold production
and cash costs per ounce of silver produced net of by-product
credits.&#160;&#160;The Company assumed the following metal prices in preparing
its 2010 cash costs estimates: Au $975/oz, Zn $1,875/tonne, Pb $1,875/tonne and
Cu $5,600/tonne.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Technical information contained in
this news release has been reviewed by Michael Steinmann, P.Geo., Executive VP
Geology &amp; Exploration, and Martin Wafforn, P.Eng., VP Technical Services,
who are the Company&#8217;s Qualified Persons</font> <font style="DISPLAY: inline; FONT-STYLE: italic">for the purposes of NI
43-101.</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Information
Contact</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Kettina
Cordero</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Coordinator,
Investor Relations</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(604)
684-1175</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">info@panamericansilver.com</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">www.panamericansilver.com</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">THIS
NEWS RELEASE CONTAINS &#8220;FORWARD-LOOKING STATEMENTS&#8221; WITHIN THE MEANING OF THE
UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
&#8220;FORWARD-LOOKING INFORMATION&#8221; WITHIN THE MEANING OF APPLICABLE CANADIAN
SECURITIES LEGISLATION. STATEMENTS CONTAINING FORWARD-LOOKING INFORMATION
EXPRESS, AS AT THE DATE OF THIS NEWS RELEASE, THE COMPANY&#8217;S PLANS, ESTIMATES,
FORECASTS, PROJECTIONS, EXPECTATIONS, OR BELIEFS AS TO FUTURE EVENTS OR
RESULTS.&#160;&#160;GENERALLY, FORWARD-LOOKING INFORMATION CAN BE IDENTIFIED BY
THE USE OF FORWARD-LOOKING TERMINOLOGY SUCH AS &#8220;PLANS&#8221;, &#8220;PROJECTS&#8221; OR
&#8220;PROJECTED&#8221;, &#8220;EXPECTS&#8221; OR &#8220;DOES NOT EXPECT&#8221;, &#8220;IS EXPECTED&#8221;, &#8220;ESTIMATES&#8221;,
&#8220;FORECASTS&#8221;, &#8220;SCHEDULED&#8221;, &#8220;INTENDS&#8221;, &#8220;ANTICIPATES&#8221; OR &#8220;DOES NOT ANTICIPATE&#8221;, OR
&#8220;BELIEVES&#8221;, OR VARIATIONS OF SUCH WORDS AND PHRASES, OR STATEMENTS THAT CERTAIN
ACTIONS, EVENTS OR RESULTS &#8220;MAY&#8221;, &#8220;CAN&#8221;, &#8220;COULD&#8221;, &#8220;WOULD&#8221;, &#8220;MIGHT&#8221; OR &#8220;WILL BE
TAKEN&#8221;, &#8220;OCCUR&#8221; OR &#8220;BE ACHIEVED&#8221;.&#160;&#160;SUCH FORWARD-LOOKING STATEMENTS AND
INFORMATION INCLUDE, BUT ARE NOT LIMITED TO STATEMENTS AS TO: ESTIMATED FUTURE
PRODUCTION FOR SILVER AND OTHER PAYABLE METALS PRODUCED BY THE COMPANY; TIMING
OF PRODUCTION; THE CASH AND TOTAL COSTS OF PRODUCTION AT EACH OF THE COMPANY&#8217;S
PROPERTIES, INCLUDING, BUT NOT LIMITED TO, CASH COSTS PER OUNCE OF SILVER; AND
THE FUTURE PRICE OF SILVER AND OTHER METALS.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">THESE
STATEMENTS REFLECT THE COMPANY&#8217;S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND
ARE NECESSARILY BASED UPON A NUMBER OF ASSUMPTIONS AND ESTIMATES THAT, WHILE
CONSIDERED REASONABLE BY THE COMPANY, ARE INHERENTLY SUBJECT TO SIGNIFICANT
BUSINESS, ECONOMIC, COMPETITIVE, POLITICAL AND SOCIAL UNCERTAINTIES AND
CONTINGENCIES.&#160;&#160;MANY FACTORS, BOTH KNOWN AND UNKNOWN, COULD CAUSE
ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM THE
RESULTS, PERFORMANCE OR ACHIEVEMENTS THAT ARE OR MAY BE EXPRESSED OR IMPLIED BY
SUCH FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE AND THE COMPANY
HAS MADE ASSUMPTIONS AND ESTIMATES BASED ON OR RELATED TO MANY OF THESE
FACTORS.&#160;&#160;SUCH FACTORS INCLUDE, WITHOUT LIMITATION: FLUCTUATIONS IN
SPOT AND FORWARD MARKETS FOR SILVER, GOLD, BASE METALS AND CERTAIN OTHER
COMMODITIES (SUCH AS NATURAL GAS, FUEL OIL AND ELECTRICITY); FLUCTUATIONS IN
CURRENCY MARKETS (SUCH AS THE PERUVIAN SOLE, MEXICAN PESO, ARGENTINE PESO AND
BOLIVIAN BOLIVIANO VERSUS THE U.S. DOLLAR); RISKS RELATED TO THE TECHNOLOGICAL
AND OPERATIONAL NATURE OF THE COMPANY&#8217;S BUSINESS; CHANGES IN NATIONAL AND LOCAL
GOVERNMENT, LEGISLATION, TAXATION, CONTROLS OR REGULATIONS
AND&#160;&#160;POLITICAL OR ECONOMIC DEVELOPMENTS IN CANADA, THE UNITED STATES,
MEXICO, PERU, ARGENTINA, BOLIVIA OR OTHER COUNTRIES WHERE THE COMPANY MAY CARRY
ON BUSINESS IN THE FUTURE; RISKS AND HAZARDS ASSOCIATED WITH THE BUSINESS OF
MINERAL EXPLORATION, DEVELOPMENT AND MINING (INCLUDING ENVIRONMENTAL HAZARDS,
INDUSTRIAL ACCIDENTS, UNUSUAL OR UNEXPECTED GEOLOGICAL OR STRUCTURAL FORMATIONS,
PRESSURES, CAVE-INS AND FLOODING); RISKS RELATING TO THE</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: darkgray" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">CREDIT
WORTHINESS OR FINANCIAL CONDITION OF SUPPLIERS, REFINERS AND OTHER PARTIES WITH
WHOM THE COMPANY DOES BUSINESS; INADEQUATE INSURANCE, OR INABILITY TO OBTAIN
INSURANCE, TO COVER THESE RISKS AND HAZARDS; EMPLOYEE RELATIONS; RELATIONSHIPS
WITH AND CLAIMS BY LOCAL COMMUNITIES AND INDIGENOUS POPULATIONS; AVAILABILITY
AND INCREASING COSTS ASSOCIATED WITH MINING INPUTS AND LABOUR; THE SPECULATIVE
NATURE OF MINERAL EXPLORATION AND DEVELOPMENT, INCLUDING THE RISKS OF OBTAINING
NECESSARY LICENSES AND PERMITS AND THE PRESENCE OF LAWS AND REGULATIONS THAT MAY
IMPOSE RESTRICTIONS ON MINING; DIMINISHING QUANTITIES OR GRADES OF MINERAL
RESERVES AS PROPERTIES ARE MINED; GLOBAL FINANCIAL CONDITIONS; BUSINESS
OPPORTUNITIES THAT MAY BE PRESENTED TO, OR PURSUED BY, THE COMPANY; THE
COMPANY&#8217;S ABILITY TO COMPLETE AND SUCCESSFULLY INTEGRATE ACQUISITIONS AND TO
MITIGATE OTHER BUSINESS COMBINATION RISKS; CHALLENGES TO, OR DIFFICULTY IN
MAINTAINING, THE COMPANY&#8217;S TITLE TO PROPERTIES AND CONTINUED OWNERSHIP THEREOF;
THE ACTUAL RESULTS OF CURRENT EXPLORATION ACTIVITIES, CONCLUSIONS OF ECONOMIC
EVALUATIONS, AND CHANGES IN PROJECT PARAMETERS TO DEAL WITH UNANTICIPATED
ECONOMIC OR OTHER FACTORS; INCREASED COMPETITION IN THE MINING INDUSTRY FOR
PROPERTIES, EQUIPMENT, QUALIFIED PERSONNEL, AND THEIR COSTS; AND THOSE FACTORS
IDENTIFIED UNDER THE CAPTION &#8220;RISKS RELATED TO PAN AMERICAN&#8217;S BUSINESS&#8221; IN THE
COMPANY&#8217;S MOST RECENT FORM 40F AND ANNUAL INFORMATION FORM FILED WITH THE UNITED
STATES SECURITIES AND EXCHANGE COMMISSION AND CANADIAN PROVINCIAL SECURITIES
REGULATORY AUTHORITIES.&#160;&#160;INVESTORS ARE CAUTIONED AGAINST ATTRIBUTING
UNDUE CERTAINTY OR RELIANCE ON FORWARD-LOOKING STATEMENTS.&#160;&#160;ALTHOUGH
THE COMPANY HAS ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD CAUSE ACTUAL
RESULTS TO DIFFER MATERIALLY, THERE MAY BE OTHER FACTORS THAT CAUSE RESULTS NOT
TO BE AS ANTICIPATED, ESTIMATED, DESCRIBED OR INTENDED.&#160;&#160;THE COMPANY
DOES NOT INTEND, AND DOES NOT ASSUME ANY OBLIGATION, TO UPDATE THESE
FORWARD-LOOKING STATEMENTS OR INFORMATION TO REFLECT CHANGES IN ASSUMPTIONS OR
CHANGES IN CIRCUMSTANCES OR ANY OTHER EVENTS AFFECTING SUCH STATEMENTS OR
INFORMATION, OTHER THAN AS REQUIRED BY APPLICABLE LAW.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: darkgray" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        </div>
      </div><br></div>
  </body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 logo.jpg
M_]C_X``02D9)1@`!`@$`2`!(``#_P``1"`!*`1<#`2(``A$!`Q$!_]L`A``%
M`P,$`P,%!`0$!04%!@<-"`<'!P<0"PP)#1,0%!,2$!(2%1<>&146'!82$AHC
M&AP?("$B(109)2<D("<>(2$@`04%!0<&!P\("`\@%1(5%2`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("#_Q`&B```!
M!0$!`0$!`0```````````0(#!`4&!P@)"@L0``(!`P,"!`,%!00$```!?0$"
M`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()"A87&!D:)28G
M*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@X2%
MAH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%QL?(R<K2T]35
MUM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^@$``P$!`0$!`0$!`0````````$"
M`P0%!@<("0H+$0`"`0($!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R
M@0@40I&AL<$)(S-2\!5B<M$*%B0TX27Q%Q@9&B8G*"DJ-38W.#DZ0T1%1D=(
M24I35%565UA96F-D969G:&EJ<W1U=G=X>7J"@X2%AH>(B8J2DY25EI>8F9JB
MHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%QL?(R<K2T]35UM?8V=KBX^3EYN?HZ>KR
M\_3U]O?X^?K_V@`,`P$``A$#$0`_`/LNJ&HZY::8PCE+,YYVH,D#WJ_7%>(/
M^0S<?4?R%"`WAKD]RC2V%NEPB]4WE7'X?X52;QA/&Q5[)58=07((_2L."XEM
M)5EA<HZ]"*Z6RDM/$UL5N85$\?!*\$>XI@5?^$RE_P"?-/\`OL_X5H:/XACU
M.0PO'Y4N,@9R#6!JVB3Z4VX_/`3\KCM[&FZ!_P`ABW_WC_(T`=M11535=2_L
MFT:Y-K<7"(I9Q"`2`.^"1^E(-BW17*Z9\2K'6HGET[2=9ND0[6:*V!`/I]ZK
MFG^/=$OKT6#SR6=YP!!=1&)B?09X-6Z<EHT0JD'LS>HH!!&114%A1110`444
M4`%%%96B^)[#7+V_M+5R9+*7RY/0^X]LY'X4)-[";2T9JT444#"BBB@`HHHH
M`****`"BH;VX-I:2SB-Y3&A;8@RS8'0>]9_A7Q`WB725OVL+BRRY7RYASQW'
MM19VN*Z3L:U%%%`PHHHH`****`"BBB@`[5Q7B#_D,W'^\/Y"NU[5Q7B#_D,W
M'U'\A30%'@5TGA339(0UY("H==J+ZCUJEX?T,WSBXG4B!#E1_?/^%:?B/6!9
M0_98&Q,XY(_A%`BX=4TZYE:T::-F/RE#T/M68NA#3-8MIHG'DN^`I/(.#Q[B
MN;Q6GH]Y<76K6:S2LXC)"Y[<&BPSL:JZL!_95W_UP?\`]!-6JK:M_P`@J[_Z
MX/\`^@FD!P?P+(&AZAG_`)^1_P"@"J?QBEM]9U#2]+TU5N=2W-\L6"R@XP"1
MTY&?;%1?"#PSI6N:1>2ZA9I.\<X526(P-HXX->CZ9X>TK126T_3K:W8C!:.,
M!C]3UKKJS4*SD<=*+G14>ADZGXEET&31]&$8N-2O5"!F.U`0!N8D>_85%J/B
MR_\`#6K:?:ZQ#:26]\_EI/;LR^6W'WE;MR.0:=X@\3"+Q/8Z!800-J$REOM$
MRY$"X/('4D@'C(KE_BI8-9W.@F6\N+J5[D[C(PQU7HHP!6=."G))K<N<G"+:
M>QU'COQI<^#[6*>/3EN$E?RU=IMH!QGIC/:H=<\4^(['3CJEGH<)LHD\R07$
MQ64KW(4=!]3GVK,^./\`R+UC_P!?@_\`0&KI?%?_`"(^H_\`7BW_`*#4I14%
M*W4IN3FU?H6_#FN0>(]&MM2MU*),N2A.2I!P1^8K1KDOA'_R(UG_`+\G_H9K
MK3P*FK%0FTNY=*3E!-]C&\7:I-INEB&R/^GWCBVM1_MM_%]%&3^%<'J>G_\`
M"J_%6GZE:EFTZY00W.><D8W'Z]&_.NC6UN_&'B&?4K+4WL[?36:UMG2-7WOC
M]XWS<>@S[&D\4^!]5UO1IK:;7YKL@;XHGMHU!<#CD#(]/QK2G)0T?7<RJ)SU
M738[&.19(PZ,&5AE2.A%<MXF\<W'AS7+#3Y--W17;X642;B1D`X4#KR*I_"3
MQ*=3T,Z9<DB[L#LP>I3M^73\!5'XH\>+_"W_`%W_`/9THA22J\DARJWI<\33
M\1>,/$7AV%=2GT.W730RJZFYS,H/<X&!V]:N2^(->U.T2[\/Z3;R6SJ&22\F
M,;2#'\*@=/J:@^+G_(BWG^_'_P"ABM7P2!_PB&D\?\ND?_H(I67L^:W4>OM.
M6_0K^"/%Z>+=+>X:#[/<0R&*:+=D`^H]JDMM>NM;DN1H\,7DV\AB^T3YVR./
MO!0.2!TSZUR'PD61K+Q(L)Q(9<(?0X;%'PGM=(U?1I;*ZC)OK>5C(OG.I*D\
M-@$=\BJG2BG*W2WXD0J2:BN]_P`#I/#?C.34=:N]"U.U2UU&UYQ&Q9)5XY7/
M(ZCBJMW\0KFU\61:"VBS(S@MGS`S.,$KM`X&2.YXK3CT+P[HVLV\T5DB:C-E
M8W!9G(QR3D],<9/J*YB__P"2VV./^?7_`-D:E!0E+;H5)SC'?J;-KXF\3(;\
MZAX7,:6ZAXS'<KAAC/4]>/2K?@/Q5+XPTF74);9+?;.T:HK$\``\G\:U]7`_
MLJ[X_P"6#_\`H)KCO@EG_A#Y0/\`GZ?_`-!6DDI0<K;6'K&:C?N;[>(I=0U2
M?3='BBF:U&+B>1B(XV/1!CEF]>F*HP>,+VS\5Q^'M6L5$DZ[X+BWR4<8[@\C
MH1FLCX2:DD$FK:-=L$OTNWE*L>7[$CZ$?K7<7=Y;6<L"RX\V9_+B4#+$]\>P
M')I2BH2Y;7T"+<XWO;4QKWQ5++XG/AW388S=)#YTLLY(1!Q@`#DGD>E1V7BV
MYM_%2^'-5MX%GEB\V":!SL<<\$'D'@_E4(\1MK7BZ[T32DBMGM8_]*O"@9S@
M@;%'MGJ?RKG]3M1:?&#1H_.FF;R06:5]QSM?\OH*J$$W9KH3.;2NGU.@\8^.
MKGPMJ%E:KIGFI=2!5D\S)QD`X4#.>>*A\1^,/$6@0?VDVA0?V:K`.&N/WP!/
M4@<#MQS69\6O^0_X9_Z^O_9TK<^*G_(BZA_P#_T,4XPCRP=MV$G*\M=D=#IE
M_#JFGV][;G,4\:R)GT(S5BL/P#_R)>D?]>J?RK<K&:49-(W@[Q3?8*PKWPX]
M[K/GL?\`1W`9^><^E;M%244[^Z32K',41;:-L:*I/T_"N-F6ZN)6EEBE9W.2
M=AKOJ,4`>?\`V>?_`)X2_P#?!K8\-Z/<?;$NYHS'&@)7<,%C]*ZC%&*=P"JF
MJ::-5M'MGN;B".12K^2P4D'MG!_2K=%(#`\.^!=/\*F3^S+F]C20@NC2!E;'
ML16_113;<G=DQBHJR.>\3>!-/\2WL%^\US:7D`PD]N^UL=J@U3X;:5JUE'!<
M7%ZT\;AQ=M-NE)],GM["M[4]132[-[F1&9$P#@=,G&3Z#U/:GV-V+VV6<)M#
M9QA@P(]01P0::G)+1[$N$&]48>J_#_3M;M(+2^O-1FBA.Y0UQDEL8W$D9)J]
M>>&XK[1O[*FOKTP%=C,)`'=?0G'2K.J:D=,BB<0F7S)DAP&`P6.`?S-6\\<"
MCFE8:C%,R_#GAJU\+V?V.RFN6MP2525PP4GKCBKNHV/]HVCVQN)X`XP7A8*V
M/8XXJ/3=2-_)=(83%]GF,))8'<0`<_D15LG`X%)MMW8XI)61E>'?#%KX7M3:
M6,]R8,EA'*X8`GJ1QFM*>(S1E%E>(G^),9'YBLVVU]KA9D%FR7$5SY#0LXST
MR&'MCGZ5K42NW=A%)*R.8T[X;Z7I6JG5+6ZU!+IF+,_G`[LG)R,8(-3ZWX%L
M/$&H0WUY=7WFP',.R4*(^<\#'J!5F+Q$9;R6V6U7=%<>009U#'@'('I@Y_"M
M>FYR3O<E0A:R1D:[X6MO$6GK87]U=F`8+!'"[R.A/%2:=X>32]+&G6]]>B%5
MV1DN"T8]`<5'%XEC;56T]K<JRS^3D.&.=F[=MZ[<=_6M>B\DK,:46[HP?#G@
MBP\+332:?<7@$QS(DD@96/KTZ\U2UCX8:/JNHMJ,,MWI]TQR[VLFS<>YQV_"
MNKJEJ.K)82V\`C,L]PQ6&-2`6P,DY[`#O0IRO=/43IPY;-:%;0?"UCX?5S;M
M/--(`'GGD,DC`=!D]O:J4O@"PFUI=9>^U'[<OW9/.'`],8QC!Z5MVES+.76:
MV:`H<#+`AN`<@CMV_"B_OX]/B1W5F:218XT7JS'H/\^E'-*][CY(VM;0CO\`
M2_[0L3:/=W,:LNUGC8*S#ZX_E5'PUX.LO"D;0Z=<78A8[C%)(&7/KTXJ]9:E
M]INI;26!H)XE5RI8$,IR`01[@BGZG>C3=/GNS&9!#&9"H."0!DTDVE8=HO4P
M?$/PVTCQ#??;V:XM+PXW36S[2V.Y]_>KN@>#[#P\S2Q27-S<NH5I[F4R/CT!
M/0?2KFD:Q'JPEV1[3$0"0P93D9X8<'W]*DU;4!I6G3WAB,BPH7900"0.M/FE
M;E;)4(7YDC"U'X=:??:X=8M[V^L+I_\`6M:R[-_Z<=*+[X;:3=WMI>1S7MM<
M6W_+6*8AY/\`>8Y.>O/O6UIVJ+J#2H(BK1;=Q#!E.?1AP>G/I5VGSS74/9P?
M0YW6?`.G:[-;37=U?EK4#R-LV-G3GIG/`Y-6]:\+0:_IJZ?>WEXT`QO"N%,F
M.FXXYK7HI<TM-2N2/8I:)I$.A:;%I]M),\,0Q'YK;BH],^E7:**3=]1I65D%
M%%%(84444`%%%%`!1110`4444`17-O\`:$"B62(@@AD(S4>F:=#I5K]G@SM+
MLY)[ECD\#@<GH*LT4"L5=2TU-2CB1Y9(Q'*LHV8Y*G(ZCU%6<#&*6BCR"QGV
MVC"UFFDCN[C$TWG.GRX)P!CIG&`*T!Q111N"5BH-)MAJAU(*1.T0B)SP0#D'
M'KR>?2K=%%`6L9:>'HXYII4NYU,TWG-@)G.`.#MR!@`5J>U%%&X));&3_P`(
MO:_;VOUFG2Z:7S!(I`(X`*].5(`X.>F:U@,#%%%%V]P22V"JM]ID-^T,CETE
M@;?%(APR'&#^!!QBK5%`[7(K>W,"X:625N[-C^G%-OK&*_A6.7<-KAT93@JP
M.014]%`%6TTY+6>2X:1Y9Y%"M(^,[1G``&`!R:=J%DFI6,UI([HDR%&*8S@C
M!QFK%%`K(H:9HD&D/(;9Y%CDP6BXV;N[`8X)[XXJ;4M/35+&:SD=TCF0HQ3&
M<'KUJS11J%DE89#$L,2QCD`8Z`9HAC,2;3(\G).6QGKTI]%`TK!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
>4444`%%%%`!1110`4444`%%%%`!1110`4444`?_9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
