NEO Battery Materials Ltd. — Capital/Financing Update 2020

Apr 6, 2020

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Suite 520, 800 West Pender Street, Vancouver, B.C. V6C 2V6 Telephone: (604) 681-2626 Fax: (604) 646-8088 www.panandeanminerals.com

PAN ANDEAN ANNOUNCES VICE PRESIDENT OF CORPORATE STRATEGIES AND CLOSING DEBT FINANCING

Vancouver, BC – April 6, 2020 – Pan Andean Minerals Ltd. (TSX-V: PAD) (“ PAD ” or the “ Company ”) is pleased to announce the appointment of Mr. Gunmin Park as Vice-President of Corporate Strategies.

Mr. Park received his Economics and Applied Statistics as a double degree (Financial Engineering Program) with Honours at Yonsei University in South Korea, and has obtained his Certified Financial Planner designation in Canada. Over the past 13 years, Mr. Park has accumulated substantial experience with asset management.

Mr. Park has expertise in the specialized field of Corporate ownership and estate and tax planning through the organization of optimal corporation structures. He has also been working with individuals as a financial advisor, providing alternative investment strategies and implementing and recommending the appropriate financial products to ensure proper customized financial planning. Mr. Park works with an extensive network of professional advisors (accountants, lawyers, and private corporation owners among others) across Canada and throughout South Korea and the rest of Asia.

"On behalf of the Company, we are excited to announce the appointment of Mr. Park as VP of Corporate Strategies. Mr. Park brings over 13-years of experience in the financial services industry to the Company. His addition to our team will help Pan Andean move forward to the next stage in its development strategy,” commented Spencer Sung Bum Huh, President and CEO of Pan Andean Minerals.

The Company is also pleased to announce it has closed a debt financing for an aggregate principal amount of $1,243,511. The loan will bear interest at an annual rate of 4%, payable semi-annually and shall have a term of 12 months. There is no arrangement to issue securities in connection with the loan and that no assets have been pledged as collateral for the loan pursuant to TSXV Policy 5.1.

In connection with the loan financing, the company intends to pay a 7% finders’ fees to an arm's length party.

The Company has also accepted the resignation of Ted Dai as Vice President of Corporate Finance for the Company.

About Pan Andean Minerals Ltd.

Pan Andean is a Vancouver-based junior resource company that has been listed on the TSX Venture Exchange for 10 years, with a focus on copper and gold exploration. The Company

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Suite 520, 800 West Pender Street, Vancouver, B.C. V6C 2V6 Telephone: (604) 681-2626 Fax: (604) 646-8088 www.panandeanminerals.com

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previously acquired prospective gold and copper-gold exploration properties considered to have significant mineral potential by staking, option or purchase agreements. The Company is currently the sole shareholder of two Peruvian Companies who hold interests in mining properties in Peru and is currently pursuing alternative business opportunities.

On behalf of the Board of Directors

Spencer Huh President and CEO 604-681-2626

shuh@panandeanminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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