Spanish Copper Explorer Expands Drilling After High-Grade Gold Discovery

• Pan Global Resources is exploring for high-grade copper, gold and tin in northern Spain
• Recent underground sampling at the Providencia and Profunda targets averaged 2.5% Cu plus near 1% Ni, Co
• New soil sampling and trenching at Providencia revealed grades up to 10 g/t Au, extending the mineralized footprint
• The first drill holes are testing extensions of the high-grade mineralization; an expanded drill program is planned
• Upcoming catalysts include drill results from Providencia/Profunda and the flagship La Romana project in southern Spain

Pan Global Resources, a junior exploration company has a portfolio of high-grade copper projects in the mining-friendly jurisdiction of Spain. The Company is well positioned to capitalize on the growing demand for copper as the world transitions to clean energy.

Recent exploration success at the company's northern Spain project has revealed the potential for a major discovery, while ongoing drilling at its flagship southern Spain asset continues to expand the resource.

High-Grade Copper Discovery in Northern Spain 

Pan Global's latest exploration focus has been its Escacena Project in northern Spain, where historic mining in the 1930s produced high-grade copper, nickel and cobalt from pipe-like breccia bodies. Underground sampling of the old Providencia and Profunda mines returned spectacular grades averaging 2.5% copper plus nearly 1% nickel and cobalt.

President & CEO Tim Moody explained what drew Pan Global to the area:

"It was the grades that attracted us and we had some underground sampling results that confirmed these were indeed pretty high grades. We're talking multi-percent copper plus nickel, cobalt and other metals."

The company has been conducting systematic modern exploration on the project for the first time. Soil sampling and portable XRF surveys covering less than 5% of the large land package highlighted the potential for extensive mineralization beyond the mined areas.

At Providencia, infill soil sampling returned numerous samples over 1 g/t gold, up to 20 g/t Au, in an area with no history of previous gold exploration.

Trenching and underground channel sampling have confirmed the soil anomalies, with one underground sample returning 37m at 3.1 g/t Au. The mineralization appears to be controlled by vertical breccia pipes and receptive stratigraphic horizons.

"Based on the new results we put out this week, we're going to expand the drill program by another three holes - testing underneath that gallery, the added channel sampling result, and another one underneath that trench result further to the east - the idea of that is to try and see what's going on underneath those and try and get a better understanding of the distribution and continuity of the mineralization."

Interview with President & CEO, Tim Moody

Accelerating the Drill Program 

Pan Global now has drills turning for the first time at Providencia. An initial 1200m program is testing extensions of the high-grade mineralization exposed underground. Based on the recent channel sampling and trenching results, the company is already planning to expand the program with additional holes. While still early days, the exploration results to date have been extremely encouraging:

"Providencia surprised us with this gold. We're still excited by the copper-nickel-cobalt mineralization but now that we know there's some gold there, and indications of PGEs as well - it's very exciting for us. The team is really excited about those results."

Flagship Asset Continues to Deliver

Prior to the northern Spain acquisitions, Pan Global's value proposition centered on its La Romana discovery in the heart of the prolific Iberian Pyrite Belt. An aggressive 2025 drill campaign seeks to expand the higher-grade western part of the deposit while also testing a suite of new targets. Two drills are currently turning at La Romana:

We recognize that whilst La Romana is important - it's a solid foundation for us and still has plenty of upside - to give us scale we need to make another discovery. Most of these targets are blind, so you never know what you're going to get."

Later this year Pan Global anticipates releasing a maiden resource estimate for La Romana, which will provide a baseline valuation for the company. In the meantime, investors can expect a steady flow of drill results from both La Romana and the regional targets.

The Investment Thesis for Pan Global Resources

• Fast-tracking a potential world-class copper discovery in northern Spain
• Strong potential to expand and enhance the La Romana deposit in southern Spain
• Exposure to surging copper price driven by supply shortfalls and clean energy transition
• Low-risk, mining-friendly jurisdiction of Spain ensures smooth path to development
• Experienced management team with track record of discoveries and a major copper development
• Steady news flow with two drills turning and multiple potential stock re-rating catalysts in 2025

Macro Thematic Analysis

The long-term investment narrative for copper is being driven by the global transition towards clean energy and electrification. Copper's superior electrical and thermal conductivity make it an essential material in renewable energy systems and electric vehicles. 

At the same time, copper mine supply growth is constrained by reserve depletion, falling grades and a lack of new discoveries. The industry is forecasting an annual supply deficit approaching 10 million tons by 2030.

Obtaining social license to operate new copper mines is also an increasing challenge. With many of the world's major copper districts located in high-elevation areas of South America and other high-risk jurisdictions, projects in stable mining regions like Spain that can be quickly advanced to production should be in high demand.

As President & CEO Tim Moody explained the advantage:

"We've got a project in Europe - it's logical that we should be trying to attract more European investment. Having a copper project in Europe, something that can potentially be brought to production within this decade, in a favorable and stable mining area, really gives us a big advantage."