Pan Global Achieves Breakthrough 64% Tin Recovery at La Romana Project, Boosting Economics

• Pan Global achieved tin recoveries of 63.9% and a high concentrate grade of 63.2% from the La Romana project using conventional gravity separation.
• Additional tin was recovered from the gravity tails, increasing the overall tin recovery by 10% compared to previous estimates.
• The tin concentrates contain low levels of penalty elements, confirming the potential to produce a premium, high-quality product.
• The strong tin metallurgy results add meaningful value to the overall economics and further de-risk the La Romana Cu-Sn-Ag project.
• Pan Global is well positioned to capitalize on the compelling supply-demand fundamentals and strong long-term outlook for copper.

Pan Global Resources Inc. (TSXV: PGZ) is a copper-focused exploration and development company advancing its flagship Escacena Project in the world-class Iberian Pyrite Belt in southern Spain. The Pan Global team consists of proven talent in exploration, discovery, development, and operations, committed to operating safely and with utmost respect for the environment and partnered communities. The Company is targeting copper-rich mineral deposits, given the metal's critical role in global electrification and the energy transition.

Breakthrough Tin Metallurgy Results

Pan Global announced highly positive Phase 2 metallurgical test results from the La Romana copper-tin-silver discovery, part of the Escacena Project. The testwork focused on recovering additional tin from the gravity tailings, aiming to enhance the overall recovery process efficiency and project economics.

Conventional gravity separation tests proved highly effective, with tin recoveries of 63.9% achieved, representing a significant 10% increase over previous estimates. The tests also produced a premium high-grade tin concentrate grading 63.2%. Importantly, the concentrates contain low levels of deleterious elements like arsenic, mercury and antimony, which could otherwise incur smelter penalties.

The results confirm that additional tin can be efficiently recovered from the gravity tails after both rougher and cleaner stage processing using conventional methods like shaker tables and Multi-Gravity Separators. This increases the overall tin recovery that would otherwise be lost.

Simple, Conventional Processing

The testwork demonstrates that La Romana mineralization is well suited to a simple flowsheet using industry-standard gravity separation for tin and flotation for copper. Notably, the processing requires less energy-intensive fine grinding compared to other mines in the region, which could provide cost and operational advantages.

The metallurgical work completed is to a level suitable for a Preliminary Economic Assessment. Future steps may include closed-circuit testing like pilot plant trials on larger sample volumes to further optimize concentrate grades and recoveries ahead of pre-feasibility or feasibility studies.

Adding Meaningful Project Value

Pan Global's President & CEO, Tim Moody, emphasized that these metallurgy results for both copper and tin at La Romana stand out relative to other mines on the Iberian Pyrite Belt:

“The testwork on the La Romana mineralization continues to produce excellent metallurgy results for both copper and tin that stand out relative to other mines on the Iberian Pyrite Belt. The new metallurgy tests were highly successful, confirming thatadditional tin can be recovered from the gravity tails that would otherwise be lost. The tests show La Romana tin mineralization is well suited to conventional gravity separation to produce high-quality, marketable tin concentrate. These results further enhance our view that the tin mineralization could meaningfully add to the overall project economics and de-risking,”

The company sees the opportunity to produce high-quality, marketable tin concentrates in addition to clean, saleable copper concentrates as significant positives for the La Romana project. Tin provides important product diversification and could make a substantial contribution to the asset value.

Strategic Project Location

The Escacena Project covers a large 5,760-hectare land package in a prolific mining district adjacent to several major operating and development stage mines. The mining-friendly jurisdiction features a favorable permitting track record, excellent infrastructure, and strong government support with copper designated as a Strategic Raw Material by the European Commission.

This tier-one, low-risk setting solidifies Escacena as a highly attractive project. In addition to the La Romana discovery, Escacena hosts multiple compelling targets, including the Cañada Honda copper-gold zone and a number of other prospects, providing substantial exploration upside.

Well Positioned for a Copper-Driven Future

With its strategic position in the Iberian Pyrite Belt and impressive results from La Romana, Pan Global is well placed to benefit from the robust long-term fundamentals for copper. As global electrification and the energy transition drive increasing copper demand, the company is advancing the Escacena Project at an opportune time in the market cycle.

The strong tin metallurgy at La Romana enhances the overall project economics and further de-risks this copper-rich asset. As Pan Global continues to progress Escacena, the company is leveraging its talented team's expertise in exploration, discovery, development and operations to unlock value for shareholders.

Key Takeaways

The latest tin metallurgy results from La Romana reinforce the significant potential of Pan Global's Escacena Project. The ability to produce high-grade, clean tin concentrates at strong recoveries using conventional processing methods stands to meaningfully boost the project economics. This development further de-risks La Romana and adds important product diversification alongside the copper.

With its prospective land package in a world-class mining belt, a major copper-tin-silver discovery at La Romana, and multiple compelling targets, Pan Global is well positioned to capitalize on the attractive long-term outlook for copper. As the company systematically advances the Escacena Project, it offers investors a quality exposure to copper in a low-risk, mining-friendly jurisdiction.

Backed by a proven management and technical team, Pan Global is demonstrating its ability to create substantial value through exploration and discovery. The company's commitment to operating safely and responsibly, respecting the environment and local communities, further strengthens its investment case. As Pan Global moves Escacena forward, it represents an appealing opportunity in the copper space.