U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM F-X

                   APPOINTMENT OF AGENT FOR SERVICE OF PROCESS
                                 AND UNDERTAKING

A.       Name of issuer or person filing ("Filer"):

                            PAN AMERICAN SILVER CORP.

B.       This is [check one]:

         [X]      an original filing for the Filer.

         [  ]     an amended filing for the Filer.

C.       Identify the filing in conjunction with which this Form is being filed:

         Name of registrant:                PAN AMERICAN SILVER CORP.

         Form type:                         REGISTRATION STATEMENT ON FORM F-10

         File Number (if known):            333-107303

         Filed by:                          PAN AMERICAN SILVER CORP.

         Date Filed:                        JULY 24, 2003
         (if filed concurrently,            (CONCURRENT HEREWITH)
         so indicate)

D.       The Filer is incorporated or organized under the laws of:

                                BRITISH COLUMBIA

         and has its principal place of business at:

                              1500-625 HOWE STREET
                   VANCOUVER, BRITISH COLUMBIA, CANADA V6C 2T6
                                 (604) 684-1175

E.       The Filer designates and appoints:

                           PAN AMERICAN MINERALS INC.
                         C/O HARRIS, TRIMMER & THOMPSON
                         6121 LAKESIDE DRIVE, SUITE 260
                               RENO, NEVADA 85511
                                 (775) 825-4300

as the agent ("the Agent") of the Filer upon whom may be served any process,
pleadings, subpoenas, or other papers in:

         (a)      Any investigation or administrative proceeding conducted by
                  the Commission; and




         (b) Any civil suit or action brought against the Filer or to which the
Filer has been joined as defendant or respondent, in any appropriate court in
any place subject to the jurisdiction of any State or of the United States, or
of any of its territories or possessions or of the District of Columbia or
Puerto Rico, where the investigation, proceeding or cause of action arises out
of or relates to or concerns any offering made or purported to be made in
connection with the securities registered or qualified by the Filer on Form F-10
on the date hereof or any purchases or sales of any security in connection
therewith. The Filer stipulates and agrees that any such civil suit or action or
administrative proceeding may be commenced by the service of process upon, and
that service of an administrative subpoena shall be effected by service upon
such agent for service of process, and that service as aforesaid shall be taken
and held in all courts and administrative tribunals to be valid and binding as
if personal service thereof had been made.

F. The Filer stipulates and agrees to appoint a successor agent for service of
process and file an amended Form F-X if the Filer discharges the Agent or the
Agent is unwilling or unable to accept service on behalf of the Filer at any
time until six years have elapsed from the date the Filer has ceased reporting
under the U.S. Securities Exchange Act of 1934. The Filer further undertakes to
advise the Commission promptly of any change of the Agent's name or address
during such period by amendment of this form, referencing the file number of the
relevant form in conjunction with which the amendment is being filed.

G. The Filer undertakes to make available, in person or by telephone,
representatives to respond to inquiries made by the Commission staff, and to
furnish promptly, when requested to do so by the Commission staff, information
relating to the Form F-10, the securities to which the Form F-10 relates and the
transactions in such securities.

The Filer certifies that it has duly caused this power of attorney, consent,
stipulation and agreement to be signed on its behalf by the undersigned,
thereunto duly authorized, in Vancouver, British Columbia, Canada on July 24,
2003.



                                        PAN AMERICAN SILVER CORP.



                                        By: /s/ ROSS J. BEATY
                                            ------------------------------------
                                            Ross J. Beaty
                                            Chairman and Chief Executive Officer




                                       2




         This statement has been signed by the following person in the capacity
indicated on July 24, 2003.


                                        PAN AMERICAN MINERALS INC.
                                        (AGENT FOR SERVICE)



                                        By: /s/ ROSS J. BEATY
                                            ------------------------------------
                                            Ross J. Beaty
                                            Director





                                       3