Pan Global Accelerates Drilling in Spain, 2025 Exploration Aimed at Defining 100Mt Resource

• Pan Global Resources is planning an aggressive exploration program in 2025 on its Spanish copper projects, which will utilize three drill rigs.
• The Company has prioritized five new targets for drilling at its flagship Escacena Project, located near the high-grade La Romana copper-tin-silver discovery.
• At La Romana, Pan Global intends to conduct significant expansion and infill drilling to define a maiden resource estimate by mid-2025.
• Pan Global will commence drilling at the highly prospective Cármenes copper-nickel-cobalt-gold project in northern Spain.
• The Company is well-funded to execute on its 2025 exploration strategy, which aims to delineate a 100 million tonne copper resource.

Pan Global Resources Inc. (TSXV:PGZ) is a copper-focused exploration company advancing a portfolio of projects in the prolific Iberian Pyrite Belt (IBP) of southern Spain and the promising Cármenes area in the north of the country. The Company's flagship Escacena Project in the IBP has delivered the significant La Romana copper-tin-silver discovery, with exploration continuing to evaluate the potential for defining a 100 million tonne copper resource in the project area.

Pan Global is led by a team with a track record of discovery and mine development, operating with high environmental and social standards. The company is well-funded to deliver on an ambitious 2025 exploration program.

2025 Exploration Program

Pan Global is embarking on its largest annual exploration campaign to date in 2025, reflecting the company's growing confidence in its Spanish portfolio. The main focus will be the Escacena Project, where three drill rigs will be active. The bulk of the drilling will test five high-priority targets in the vicinity of the La Romana and Cañada Honda discoveries. These targets, identified through systematic geophysical and geochemical programs, share similar signatures to the known deposits and offer outstanding discovery potential in a region known for multi-deposit copper mining camps.

• In parallel, expansion drilling will continue at La Romana to increase the scale of the deposit ahead of a maiden NI 43-101 mineral resource, expected by mid-2025. Wide step-outs will evaluate extensions of the copper-tin-silver mineralization beyond the currently defined 1.5km strike length.

• At the nearby Bravo target, just 1km from La Romana, the first drillholes will test a coincident gravity and geochemical anomaly, interpreted as a potential eastward continuation of the mineralized system.

• The 2025 program will also include a maiden drill campaign at the Cármenes Project in northern Spain. Two rigs will be mobilized to evaluate the Providencia and Profunda targets, interpreted as pipe-like breccia bodies with potential for high-grade copper-nickel-cobalt-gold mineralization based on historical mining and recent field work. Electromagnetic surveying will also be conducted to refine additional drill targets across the extensive Cármenes land package.

In total, the 2025 program will include at least 22 holes (6,830m) of drilling on new targets, as well as additional holes at La Romana. The company is fully financed for this work following recent successful capital raises.

Copper Market Outlook

Copper prices reached all-time highs in early 2022 based on anticipated supply shortages and surging demand, driven by global efforts towards electrification and decarbonization. While prices retreated in late 2022, the underlying fundamentals of the copper market remain highly favourable.

Copper supply growth is constrained by a lack of new discoveries, declining grades and extended lead times for mine development. At the same time, demand is expected to soar as the energy transition gains momentum, with copper being a critical metal for electric vehicles, renewable energy infrastructure, and the grid. Estimates suggest copper demand could increase by over 50% by 2035.

Against this backdrop, there is a heightened strategic urgency globally to secure new copper supply. Near-term development projects and major new copper discoveries are in high demand. Pan Global is well-positioned to benefit from this environment as it aims to delineate significant new copper resources in the low-risk jurisdiction of Spain.

Key Takeaway

The year ahead is shaping up to be a watershed period for Pan Global as it shifts into a higher gear at its Spanish copper projects. The Company has built a compelling growth pipeline in Spain, underpinned by the La Romana discovery and numerous drill-ready targets. Forthcoming drill results, particularly from new targets at Escacena, have the potential to demonstrate a district-scale copper system and significantly re-rate the Company.

The Pan Global investment case is supported by a strong technical team, a robust balance sheet, and tier-one infrastructure and mining culture in Spain. These attributes, combined with the looming copper supply deficit, position Pan Global as a unique investment opportunity in the copper space. The aggressive 2025 exploration campaign has the potential to put the Company firmly on the radar of larger copper producers seeking new growth projects. Investors should watch Pan Global closely in the coming months as it looks to deliver a string of exploration catalysts.