NEWS RELEASE

March 11, 2008      

PAN AMERICAN MINING CORP SIGNS AN OPTION AGREEMENT
RE: THE OFFSHORE SEABED MINERAL MINING SECTOR

Pan American Mining Corp.  (the “Company”) is pleased to advise that an Option Agreement has been signed with Worldwide Oceanic Mining Inc. (“WOMI”) a private corporation incorporated in the Republic of Panama.  WOMI, in collaboration with a highly qualified independent consulting group, initiated and completed a study of the geological and tectonic settings for seabed massive sulphide (SMS) deposits and polymetallic sulphide deposits within the 200 mile Exclusive Economic Zones (“EEZs”) of certain Central and South American countries.  SMS deposits are considered to be analogous to volcanogenic massive sulphide (VMS) systems – a source of numerous onshore copper-gold, zinc and silver deposits.  WOMI selected this region due to the maturity of the offshore geology, geophysics and bathymetry and because the region includes known hydrothermal vent sites.  WOMI has also secured certain preliminary seabed mineral exploration rights from one of the countries in this region and is in discussions to secure further exploration rights in the region.   Under the terms of the Option Agreement the Company, conditional on certain milestone achievements occurring over the next 90 to 120 days plus the satisfactory completion by the Company of certain WOMI due diligence matters, including an agreed WOMI evaluation, can acquire all of the shares of WOMI through a formal Share Exchange Agreement.

The Company considers that the WOMI seabed mineral initiatives in this region can present some very prospective mineral opportunities.  Recent advances in seafloor engineering, driven in part by the off-shore hydrocarbon sector and the telecommunications industry, has provided the equipment and technology backdrop to now make the development and mining of SMS deposits economically attractive.
Pan American Mining Corp. Is a mineral exploration and development company focused on the discovery and development of commercial mineral deposits in the Americas.

For further information please contact.

Fred R. Schmid
President

Pan American Mining Corp.    
203 Pebble Beach Path
Riverhead, NY 11901  
Tel:  631-574-8862
        
Frankfurt Exchange
Symbol:  S7X