Pan Global Resources Accelerates Drilling at Escacena Copper Project in Spain

• Pan Global Resources adds second drill rig to accelerate 2024 drilling program at Escacena Project, southern Spain
• The company focuses on expanding near-surface mineralization at La Romana copper-tin-silver deposit and Cañada Honda copper-gold-silver discovery
• Strong copper market fundamentals and outlook drives increased exploration efforts
• Escacena Project is located in prolific Iberian Pyrite Belt, adjacent to active and developing mines
• Pan Global team has a proven track record in exploration, discovery, development, and mining operations

About Pan Global Resources

Pan Global Resources Inc. (TSXV: PGZ) is a mining company focused on exploring and developing copper-rich mineral deposits. The company recognizes the compelling supply-demand fundamentals and long-term price outlook for copper, driven by global electrification and the energy transition. Pan Global's flagship project is the Escacena Project, located in the prolific Iberian Pyrite Belt in southern Spain, a tier-one mining jurisdiction with favorable permitting, excellent infrastructure, and support for copper as a Strategic Raw Material by the European Commission.

The Pan Global team consists of proven talent in exploration, discovery, development, and mine operations, all committed to operating safely and with the utmost respect for the environment and partnered communities. The company is a member of and operates under the principles of the United Nations Global Compact.

Escacena Project Update

Pan Global is currently advancing a planned 30-40 hole (approx. 8,000-12,000 meters) drill program at the Escacena Project, which began in 2023. The program targets near-surface mineralization west of the existing 1.5km surface strike extent at the La Romana copper-tin-silver deposit and aims to expand the copper-gold-silver mineralization at the new Cañada Honda discovery nearby. Approximately 70% of the planned drilling at these two discoveries has been completed.

To accelerate the drilling program while remaining on budget, Pan Global has added a second drill rig to the Escacena Project. This decision is supported by the positive drill results to date and the exceptionally strong copper market.

In the first five months of 2024, Pan Global delivered impressive results, including excellent copper and tin metallurgy results and drill results confirming the expansion of mineralization at both the La Romana and Cañada Honda deposits.

Exploration Potential and Pipeline

In addition to the ongoing drilling at La Romana and Cañada Honda, Pan Global is making progress on accessing the high-priority Bravo gravity target located east of the La Romana discovery. Work is expected to commence immediately upon signing an access agreement with the surface rights owner.

The company's geology team in Spain continues to advance a pipeline of new discovery opportunities for drill testing, highlighting the exploration potential of the Escacena Project. Other prospective targets within the project area include Barbacena, El Pozo, Romana Norte, San Pablo, Zarcita, Hornitos, La Jarosa, Romana Deep, and the recently identified El Cortijo target.

Strategic Location in the Iberian Pyrite Belt

The Escacena Project comprises a large, contiguous, 5,760-hectare land package controlled 100% by Pan Global in the eastern part of the Iberian Pyrite Belt. The project is strategically located near the operating Riotinto mine and immediately adjacent to the former Aznalcóllar and Los Frailes mines, where Minera Los Frailes/Grupo México is in the final permitting stage for mine development, with anticipated start of construction in 2024.

The proximity to active and developing mines underscores the prospectivity of the Iberian Pyrite Belt and the potential for significant discoveries at the Escacena Project.

Copper Market Fundamentals

Pan Global's focus on copper exploration is driven by the compelling supply-demand fundamentals and the outlook for strong long-term prices. Copper is a critical metal for global electrification and the energy transition, with increasing demand from renewable energy infrastructure, electric vehicles, and energy storage systems.

As the world moves towards a low-carbon future, the demand for copper is expected to rise significantly. However, the current global copper supply is facing challenges, with declining grades, delayed projects, and a lack of new discoveries. This supply-demand imbalance presents a favorable market environment for copper-focused mining companies like Pan Global Resources.

Experienced Management & Sustainable Practices

Pan Global's management team comprises individuals with extensive experience in exploration, discovery, development, and mining operations. The company is committed to operating safely and with the utmost respect for the environment and partnered communities.

As a member of the United Nations Global Compact, Pan Global operates under its principles, emphasizing sustainability, responsible practices, and positive community engagement. This commitment to sustainability and responsible mining aligns with the increasing focus on environmental, social, and governance (ESG) factors in the mining industry.

Conclusion

Pan Global Resources presents a compelling investment opportunity for those looking to gain exposure to the copper sector. With its flagship Escacena Project located in a tier-one mining jurisdiction, a strong pipeline of exploration targets, and a focus on a critical metal for the global energy transition, the company is well-positioned to benefit from the positive copper market fundamentals.

The accelerated drilling program, supported by positive drill results and the addition of a second drill rig, demonstrates Pan Global's commitment to advancing the Escacena Project and unlocking its full potential. As the company continues to deliver results and progress towards its objectives, investors can look forward to potential value creation and growth opportunities.