Pan American Goldfields Ltd.

Investment Highlights

• Generating revenue from gold and silver production at its Cieneguita mine, which has an estimated 1.1 million ounces of gold equivalent
• Executive team has extensive track record of building major mines and companies, including Barrick’s largest producer, the Veladero gold mine
• PEA underway for Cieneguita, setting stage for much larger mining operation; scoping study expected to be completed in the first quarter of 2013
• EV/Resource ratio at steep discount to peer group average

Financial Highlights

Overview
Pan American Goldfields Ltd. ("Pan American" or the "Company") is focused on developing its cash-flow-producing Cieneguita gold-silver mine, which contains a resource of 1.1 million ounces of gold equivalent ("eq."). The Company acquired control of the Cieneguita in December 2011. A Preliminary Economic Assessment ("PEA") for an anticipated 100,000 ounce gold eq. operation is being prepared by M3 Engineering & Technology of Tucson, Arizona, with a scoping study expected to be completed in the first quarter of calendar 2013.

On an enterprise value to resource basis, Pan American currently trades at a steep discount to its peer group average. Should the Company reach its proposed 100,000 ounce gold eq. pr. annual production level, it has the potential to generate a net profit (assuming its operating partner, Minera Rio Tinto ("MRT"), earns its 20%) of $87,865,000 net to Pan American annually, using $1,500 gold and $35 silver and a $500 per ounce eq. cash cost.