holes. · Primary data includes GPS

co-ordinates, paper

· Documentation of geological logs and sample

primary data, data data records. The hard copy

entry procedures, records are checked against

data verification, Excel

data storage

(physical and spreadsheet files derived

electronic) from digital data import or

protocols. manual data

entry.

· Discuss any · Adjustment of the data

adjustment to assay includes the conversion of

data. W reported in lab analysis

to

WO

3, by multiplying W by 1.261.

Location · Accuracy and quality · Drill holes are surveyed

of data of surveys used to by handheld GPS, accurate

points locate drill holes to about 2-5m in east and

(collar and down-hole north.

surveys), trenches,

mine workings and

other locations used · The grid system used is

in Mineral Resource WGS84, Zone 47. Northings

estimation. and eastings are reported

in

· Specification of the meters.

grid system

used. · The topographic control

used is Thailand national

data. This is reported at

· Quality and adequacy 10m contour intervals. This

of topographic data was checked against

control. Google Earth elevations and

those derived from GPS. The

data is considered adequate

for the purpose

reported.

Data · Data spacing for · Drillholes are typically

spacing reporting of being reported on sections

and Exploration from 70-125m apart, drill

distribu Results. spacing on section is

tion typically

· Whether the data spac 60-

ing 80m

and distribution is

sufficient to

establish the degree

of geological and

grade continuity

appropriate for the

Mineral Resource and

Ore Reserve · Sample compositing by way

estimation of weighted average grades

procedure(s) and at various cut-offs are

classifications being

applied. reported.

· Whether sample

compositing has been

applied.

Orientati· Whether the · The PAM diamond core

on of orientation of drilling was mostly

data in sampling achieves undertaken normal to the

relation unbiased sampling of strike of possible of the

to possible structures mineralized zone, and in

geologic and the extent to many cases normal or near

al which this is known, normal to the dip of

structur considering the interpreted mineralized

e deposit structures.

type.

· No known relationship is

· If the relationship known to

between the drilling exist

orientation and the

orientation of key

mineralised structures

is considered to have

introduced a sampling

bias, this should be

assessed and reported

if

material.

Sample · The measures taken · The drill core is

security to ensure sample transported to the secure

security. PAM

processing facility. Core

and samples are stored

securely. Samples are

delivered by reputable

courier to Laos and then

assay pulps delivered to

Australia by reputable

courier engaged by

ALS.

Audits · The results of any · The sampling techniques

or audits or reviews of for the PAM diamond

reviews sampling techniques drilling have been less

and formally assessed, aside

data. from checks of assay

accuracy/precision which

provide acceptable

comparisons. The

sub-sampling and sample

preparation techniques

employed are industry

standard.

However audits or reviews

have not been

undertaken.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code Commentary

explanation

Mineral · Type, reference · The tenements are held as Special

tenement name/number, Prospecting

and location and

land ownership Licences by Thai Mineral Venture

tenure including Co. Limited, a 100% owned

status agreements or subsidiary of Pan Asia Metals

material issues under Special Prospecting

with third

parties such as Licence (TSPL) 1/2555 and TSPL

joint ventures, 1/2562. They

partnerships,

overriding are located in the Nakhon Si Thammar

royalties, at

native title Province in southern Thailand. All

interests, of

historical the areas subject to the SPL's are

sites, accessible for exploration and

wilderness or potential

national park

and devleopmeent.

environmental

settings.

· The security of

the tenure held

at the time of

reporting along

with any known

impediments to · The tenure is granted for 5 years

obtaining a from the date of issue. PAM is

unaware of any impediments to

licence to obtaining a

operate in the

area. licence to operate in the area

aside from the normal provisions

that operate in Thailand, such as

regulatory approvals in

association with securing

agreements with relevant

landholders.

Explorati· Acknowledgment · TGF is the only company recorded

on done and appraisal of to have done exploration, prior to

by exploration by PAM. PAM is reliant on the TGF

other other data,

parties parties. having conducted appropriate due

diligence and QA-QC studies. The

TGF work has been conducted to an

acceptable level.

Geology · Deposit type, · The deposit type is described as

geological tungsten hosted in laterite and

weathered to fresh breccia,

setting and style probably associated with faulted

of hydrothermal breccia. The

mineralization

mineralisation.

is located in the Main Range

Province of the South East Asian

Tin Tungsten

Belt

. Granitoid magmatism due to

subduction and collision of

microplates during the Early

Triassic to Oligocene has

generated some world-class tin -

tungsten deposits in the

region.

Drill · A summary of · Provided in text

hole all information

Informat material to the

ion understanding of

the exploration

results

including a

tabulation of

the following

information for

all Material

drill

holes:

o easting and

northing of the

drill hole

collar

o elevation or RL

(Reduced Level -

elevation above

sea level in

metres) of the

drill hole

collar

o dip and azimuth

of the

hole

o down hole

length and

interception

depth

o hole length.

· If the

exclusion of

this information

is justified on

the basis that

the information

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February 24, 2021 00:45 ET (05:45 GMT)