Pan Global Resources - Promising Copper Explorer Set for Growth Despite Market Conditions

• Raised C$6M to fund operations through 2025.
• Will advance La Romana and Cañada Honda copper discoveries in Spain.
• 25-hole drill program at La Romana, 20 holes complete. Also drilling new discovery at Cañada Honda.
• Seeking to maximize the size of the potential resource before estimating.
• Additional discoveries could allow consolidated operation.

About Pan Global Resources

Pan Global Resources Inc. is a mineral exploration and development company focused on copper deposits. Its flagship project is the Escacena Project, located in the Iberian Pyrite Belt in southern Spain. This is considered a favorable jurisdiction for mining investment due to existing infrastructure, mining expertise, and support from the European Commission who have designated copper a Strategic Raw Material.

The Escacena Project comprises 5,760 hectares of contiguous mineral concessions fully controlled by Pan Global Resources. It is situated close to the currently operating Las Cruces and Riotinto mines. The area has known copper-tin-silver mineralization, as evidenced by the now-closed Aznalcóllar and Los Frailes mines located adjacent to Escacena where significant development is again taking place.

Exploration to date has led to the discovery of copper-tin-silver at La Romana within the Escacena concessions. Additional prospective exploration targets have also been identified, including Cañada Honda, Romana North, Bravo, Barbacena, El Pozo, San Pablo, Zarcita, Hornitos, La Jarosa, and Romana Deep.

The management and exploration teams working on Escacena have proven experience in mineral exploration, development and operations, with a stated commitment to safe, environmentally and socially responsible resource development.

Interview with President & CEO, Tim Moody

Advancing Copper Projects While Conserving Cash

With copper prices subdued and equity markets weak, junior explorer Pan Global Resources is laser-focused on advancing its copper discoveries in Spain while tightly controlling costs. Pan Global recently raised C$6 million, funding exploration through to 2025. The company will use the funds to methodically expand 2 promising copper discoveries while avoiding dilution during the downturn.

Pan Global is exploring in the Iberian Pyrite Belt, near Seville in Andalucia, Spain, where historic mines exploited high-grade copper up until the 1990s. Modern exploration has revealed new zones of copper mineralization that were left unmined by previous operators. "I describe ourselves as being resource-ready," said CEO Tim Moody.

While enough drilling has been completed to estimate an initial resource, he believes more exploration could substantially boost the project's value. "Every additional ton we find is going to be accretive to the NPV."

Drill Program Expands Known Zones

A 25-hole drill campaign is underway at the La Romana target, part of the Escacena project. The project neighbors the Aznalcóllar and Los Frailes projects owned by Grupo Mexico, and is 12km to the west of First Quantum Mining’s operating Cobre Las Cruces Mine. Five holes remain to complete the program after 20 holes were recently finished. Results have expanded copper mineralization 250-300 meters west from previous drilling.

The latest hole intersected 16 meters grading over 1% copper, while geophysics indicates mineralization could continue further west. Historic workings at surface also show copper presence west of the recent drilling.

The discovery's consistency improves the likelihood of developing a sizable copper resource.

While completing La Romana drilling, the company has also commenced an 11-hole program testing a new zone called Cañada Honda, located 3 kilometers north. Early indications suggest copper grades at Cañada Honda are compelling.

Preserving Cash While Expanding Resources

Despite positive early results, the company plans to remain prudent during uncertain markets. "We're going to be really careful with our money, make sure every dollar counts," emphasized Moody. To conserve costs, the focus is on expanding known mineralized zones through step-out drilling rather than regional exploration. "Every hole, every meter counts," Moody said.

Finalizing resources and economic studies also remains a priority once drill targets are fully tested. Moody wants to deliver shareholders a credible picture of standalone mine economics. While expanded resources could improve already positive economics, he believes the projects already warrant advancement given high grades and excellent infrastructure.

The company's incremental, targeted exploration strategy aims to systematically grow resources without excessive spending. The region hosts clusters of deposits, so additional discoveries could ultimately feed a centralized mining operation. "Would that possibly work in the future as a consolidated mine? It would be very typical in this province," explained Moody.

The Investment Thesis for Pan Global Resources

• High-grade copper projects in the proven district of Spain with excellent infrastructure.
• C$6M raising funds exploration through to 2025, no near-term dilution risk.
• Advancing two discoveries to expand resources and project value.
• Recent drilling returned compelling grades over sizeable widths.
• Adopting a prudent, systematic exploration strategy to maximize longevity.
• Well-positioned for cyclical copper price recovery with assets located in top-tier mining jurisdiction.

With a refreshed balance sheet, Pan Global Resources is methodically advancing copper assets in Spain during turbulent markets. The company raised C$6M to fund programs through to 2025, avoiding unnecessary dilution while progressing the exciting La Romana and Cañada Honda discoveries. Recent results validate the potential to substantially increase resources through disciplined step-out drilling focused on extending known mineralized zones. Once additional strike length is tested, management can evaluate estimating an initial resource and associated economics. The projects are positioned in an established copper-producing region with excellent surrounding infrastructure. While balancing growth objectives and spending restraint, Pan Global offers leverage to an eventual cyclical recovery in the copper price.