Pan American Conducts Strategic Review of Operations to Advance Cieneguita Project

Pan American Conducts Strategic Review of Operations to Advance Cieneguita 
VANCOUVER, Aug. 16, 2013 /CNW/ - Pan American Goldfields Ltd. ("PAG" or "the 
Company") (OTCQX: "MXOM") today announced that, at the request of the 
Company's Board of Directors and following the annual meeting of shareholders 
as detailed in the Company's press release dated June 28, 2013, the Company 
has been active in conducting a strategic review of operations and management 
to take the Cieneguita Project (the "Project") forward. The new board, led by 
Mr. Emilio Alvarez, is conducting a process to build a team to deliver on the 
Company's three prime goals: 
1. Expand the scope of the resource through infill, step out drilling 
and defining grade distribution. 
2. Take the Project through development milestones and pilot production 
towards laying the groundwork for an attractive development project. 
3. Systematically and comprehensively unlock the Project's extensive 
geological potential and economic feasibility. 
To this end, the new CEO, Mr. Emilio Alvarez commented, "I am very pleased 
with the caliber of the team that we have been able to put together. Each 
member has experience in natural resources projects and their financing and 
the team's track record covers the full spectrum of discovery, resource 
growth, evaluation, construction and, of course, economic gold production, 
which is precisely the path we are now seeking to follow". He added, "the 
results of the Preliminary Economic Assessment for the Project have already 
been able to define that we have an extremely attractive asset at Cieneguita 
and the pilot production has underlined its economics. We shall give our full 
attention to now further de-risking and enhancing the Project's feasibility". 
Immediately following the appointment of the new board of directors, the 
Company established committees comprised exclusively of independent directors 
to take action and responsibility with a view to establishing high corporate 
governance standards. 
"The current share price, we believe, undervalues the Company", commented Mr. 
Alvarez, "Our management team is going to spend some time addressing this 
issue, and the Board has already been instructed to conduct an immediate and 
comprehensive review of all available options with the objective of increasing 
value for our shareholders". 
The new board of Pan American Goldfields would like to thank shareholders for 
their support and patience, and shall be in communication in due course as to 
specific future actions as a result of the strategic review. 
About Pan American Goldfields Ltd. 
Pan American Goldfields is a precious metals mining and exploration company. 
Its focus is the production of gold and silver and the development and 
expansion of its Cieneguita mine in Mexico's booming Sierra Madre gold-silver 
On behalf of the Board of Directors, Emilio Alvarez, Director 
Safe Harbor Disclosure 
The information in this press release contains forward-looking statements 
regarding future events or the future financial performance of the Company. 
Please note that any statements that may be considered forward-looking are 
based on projections; that any projections involve judgment, and that 
individual judgments may vary. Moreover, these projections are based only on 
limited information available to us now, which is subject to change. Although 
those projections and the factors influencing them will likely change, we are 
under no obligation to inform you if they do. Actual results may differ 
substantially from any such forward looking statements as a result of various 
factors, many of which are beyond our control, including, among others, the 
timing and outcome of our feasibility study on our Cieneguita Project; the 
costs and results of our initial production activities on our Cieneguita 
Project; the future financial and operating performances of our projects; the 
estimation of mineral resources and the realization of mineral reserves, if 
any, on our existing and any future projects; the timing of exploration, 
development, and production activities and estimated future production, if 
any; estimates related to costs of production, capital, operating and 
exploration expenditures; requirements for additional capital and our ability 
to raise additional capital on a timely basis and on acceptable terms; 
government regulation of mining operations, environmental risks, reclamation 
and rehabilitation expenses; title disputes or claims against our existing and 
any future projects; and the future price of gold, silver, or other minerals. 
These and other factors can be found in our filings with the SEC. The Company 
undertakes no obligation to release publicly the results of any revision to 
these forward-looking statements to reflect events or circumstances following 
the date of this release.

SOURCE  Pan American Goldfields Ltd. Tel: 604-340-8678  
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CO: Pan American Goldfields Ltd.
ST: British Columbia
-0- Aug/16/2013 19:42 GMT
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