Pan Global Intersects High-Grade Copper at Escacena Project in Spain

• 1.04% copper over 15.9 meters at La Romana confirms western expansion
• Mineralization open along 1.35 km strike length and at depth
• Results include highest grades from 25-hole drill program to date
• Strong potential to expand resource and exploration targets
• C$6M financing enables expanded drilling and maiden resource

About Pan Global Resources

Pan Global Resources is a Vancouver-based mining company trading on the TSX Venture Exchange under the symbol PGZ. The company's focus is on exploring for and developing copper deposits to serve the growing global demand from electrification and energy transition. Pan Global holds a 100% interest in the 5,760-hectare Escacena Project in southern Spain's Iberian Pyrite Belt. The region hosts numerous operating mines and promising development projects. The company's team has proven expertise in exploration, development and mining operations.

La Romana Drill Results Confirm High-Grade Mineralization

Recent drill results from La Romana include some of the highest grades intersected to date from Pan Global's 25-hole program. Highlights include:

• 15.9m at 1.15% copper equivalent (1.04% Cu, 0.03% Sn, 2.4 g/t Ag) from 79m depth in hole LRD171
• 12m at 1.04% copper equivalent (0.80% Cu, 0.09% Sn, 2.1 g/t Ag) from 61m depth in hole LRD170

The new drill holes confirm that high-grade copper-tin-silver mineralization at La Romana extends over 1.35 km and remains open. The results are validating the potential to significantly expand the zone through additional step-out drilling.

Mineralization Starts Near Surface and Remains Open at Depth

At La Romana, continuous copper mineralization occurs in two near-surface horizons - Zone B and Zone C. Recent drilling indicates Zone B is increasing in grade and thickness to the west. A new electromagnetic conductor detected below hole LRD171 points to continuity of higher grades at depth. This represents a compelling target for future expansion.

Favourable Metallurgy Supports Potential Open Pit Development

The copper mineralization at La Romana includes chalcopyrite, chalcocite and copper oxides. The presence of high-grade chalcocite below the oxide zone points to upgrading potential. Combined with wide intercepts starting near surface, this suggests amenability to simple open pit mining methods.

C$6 Million Financing Funds Aggressive Exploration

In November 2023, Pan Global closed a C$6 million private placement, putting the company in a strong financial position. The non-brokered financing was heavily oversubscribed, demonstrating strong investor interest. Proceeds will support an expanded multi-target drill program focused on expanding resources at La Romana and Cañada Honda, as well as advancing other prospective zones.

Exploration Targets Abound Across Large Land Package

Beyond La Romana and Cañada Honda, the 5,760-hectare Escacena Project contains numerous underexplored targets including Romana North, Bravo, Barbacena, El Pozo, Hornitos, La Jarosa and others. Pan Global is methodically pursuing a district-scale exploration strategy to capitalize on the project's regional potential. Proximity to major mines and supportive infrastructure further enhance Escacena's prospects.

Conclusion

With copper demand growth projected to surge over 200% by 2035, low-risk projects in top-tier mining jurisdictions will attract increasing investment. The latest results confirm Pan Global's La Romana discovery represents a shallow and high-grade zone with significant room to grow. The company's well-funded exploration program aims to delineate an initial mineral resource estimate in 2024. For investors seeking leverage to the copper price through resource expansion and new discoveries, Pan Global warrants consideration.