PAN AMERN SILVER CORP

Ticker: PAAS CUSIP: 697900108 Class: Common Stock

First City Capital Management, Inc.'s Holding History (CIK: 0001427350)

Note: Option positions (PUT/CALL) are excluded.

Q3 2014

Shares 24 Value ($000) $264 Avg Close $14.07 Range $10.86 - $15.97

Q2 2014

Shares 24 Value ($000) $368 Avg Close $13.25 Range $12.02 - $15.50

Q1 2014

Shares 24 Value ($000) $309 Avg Close $13.39 Range $11.45 - $15.63

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	24	$264	$14.07	$10.86 - $15.97
Q2 2014	24	$368	$13.25	$12.02 - $15.50
Q1 2014	24	$309	$13.39	$11.45 - $15.63