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Warrant Symbol - PAA.WT
Number  Trading - 3,818,330
Expiration Date - Feb. 20, 2008
Cusip - 697900 12 4

Warrants called to trade news:
Pan American to list 3,818,330 warrants on Feb. 25
2003-02-21 17:15 MT - Miscellaneous
TSX bulletin 2003-0205
A total of 3,818,330 common share purchase warrants of Pan American Silver will be listed and posted for trading at the open on Tuesday, Feb. 25, 2003, under the following trading information:
Symbol:  PAA.WT
Cusip No:  697900 12 4
Designated market-maker:  T. Popowich, Research Capital Corp.
Other markets:  None
The warrants were issued in connection with a recently completed plan of arrangement with Corner Bay Silver. Details of the plan of arrangement are available elsewhere in today's Toronto Stock Exchange bulletins.
Each whole warrant entitles the holder to purchase one common share of the company at a price of $12 per share until 4:30 p.m. (Pacific Daylight Savings Time) on Feb. 20, 2008. The warrants are governed by the terms of a warrant indenture dated Feb. 20, 2003, between the company and Computershare Trust Company of Canada, as trustee. The warrant indenture provides for appropriate adjustments to the warrants in the event of stock dividends, subdivisions, consolidations and other forms of capital reorganization.