Pan American Silver Corp. (TSX:PAA - News)(NASDAQ:PAAS - News) ("Pan
American" or the "Company") is pleased to announce that Pan
American Silver Peru S.A.C. has received the prestigious Premio
2010 award ("2010 Sustainable Development Award") in the category
of Esfuerzos de Promocion
en el Desarrollo Local - Mineria
("Promotion Initiatives for Local Development - Mining") for its
exemplary work in social and environmental management and the positive effect
it has brought to the Peruvian communities where it operates.
The awards are granted annually as part
of a nation-wide initiative by the National Association of Mining, Petroleum
and Energy ("Sociedad Nacional
de Mineria, Petroleo y Energia" - "SNMPE"), an industry
association with over 100 years' experience. The awards were instituted by
the SNMPE to foster good practices in social and long-term sustainability, to
highlight the on-going sustainability efforts carried out by its members in
the communities where they operate, and to communicate to the general public
the benefits of the modern, responsible and efficient management of the
projects and enterprises operated by its affiliated companies.
The jury who selected the winners
consisted of several members of the Peruvian professional and business
communities, as well as representatives from NGOS, the media and government.
The award was presented today in Lima, Peru. Previous award winners in the
mining sector include Antamina, Milpo,
Atacocha and Xstrata.
Steve Busby, Chief Operating Officer,
commented on the award, "This award is particularly gratifying as it
recognizes our Company's thoughtful approach and extensive efforts towards
sustainable socio-economic development in the communities where we operate.
Our Peruvian team has done a terrific job of extending our success to our
host communities through a series of initiatives that have resulted in
excellent community relations with our local stakeholders. On behalf of our
entire organization, I would like to congratulate each of our Peruvian staff
on this important and well deserved recognition."
About Pan American
Pan American Silver's mission is to be
the world's largest and lowest cost primary silver mining company by
increasing its low-cost silver production and silver reserves. The Company
has seven operating mines in Mexico, Peru, Argentina and Bolivia. Pan
American also owns the Navidad project in Chubut,
Argentina and is the operator of the La Preciosa
project in Durango, Mexico.
Pan American Silver Corp.
Coordinator, Investor Relations
(604) 684-0147 (FAX)