Pan Global Samples Up to 24.3 g/t Gold & 16.2% Copper at Cármenes Project in Spain

• Pan Global's soil sampling at the Providencia target has defined a sizable 250 meter by 150 meter geochemical anomaly. Peak samples from this anomaly returned exceptional grades of 24.3 g/t gold, 16.2% copper, 1.3% nickel, 1.1% cobalt and 48.7 g/t silver.
• Within the broader anomaly, a higher-grade core of gold mineralization has been identified. This zone includes 49 samples averaging an impressive 5.8 g/t gold.
• Rock samples collected from outcrops, float and mine dumps at Providencia also show significant mineralization. The highest-grade rock samples assayed 10.6 g/t gold, 48.1% copper, 2.0% nickel and 1.1% cobalt.
• Pan Global is quickly advancing the Cármenes Project towards an initial drill program to test the mineralization potential. The company plans to start the maiden drill hole at Providencia in January.
• Pan Global Resources is a copper-focused exploration company with a portfolio of projects in Spain. The company's main assets are the Escacena Project and the Cármenes Project, both of which are located within the prolific Iberian Pyrite Belt.

Pan Global Resources (TSXV:PGZ) is a copper-focused exploration company operating in the Iberian Pyrite Belt in southern Spain. The company's flagship Escacena Project is located in a tier-one mining jurisdiction with excellent infrastructure and a supportive permitting environment. The Pan Global team has a track record of exploration success and is committed to operating safely and sustainably. The company is a member of the United Nations Global Compact.

Pan Global Resources Inc. announced encouraging soil and rock sample results from the Providencia target at its wholly-owned Cármenes copper-gold-nickel-cobalt project in northern Spain. The company is now preparing for its first ever drill program at the project.

High-Grade Results from Providencia

The latest soil sampling results confirm a coherent geochemical anomaly measuring 250 meters by 150 meters at the Providencia target. The anomaly is open beyond the historical Providencia mine workings and shows exceptional grades of gold, copper, nickel, cobalt, lead, silver, platinum and palladium associated with strong alteration and gossan.

Highlight soil samples assayed up to 24.3 grams per tonne (g/t) gold, 16.2% copper, 1.3% nickel, 1.1% cobalt, 1.6% lead and 48.7 g/t silver. A higher-grade portion of the anomaly includes 49 samples with over 1.0 g/t gold, averaging 5.8 g/t gold. The highest-grade gold assays are concentrated just east of the former mine.

"The new high-grade copper, gold and other metals results from Cármenes are very encouraging," said Pan Global President and CEO Tim Moody. "The initial soil and rock geochemistry results indicate the footprint of the Providencia breccia pipe mineralization is much larger than previously known, and shows significant gold potential. The grades detected in the soil samples are exceptional."

Rock samples collected from outcrops, mine dumps and float at Providencia also returned high-grades, with peak values of 10.5 g/t gold, 48.1% copper, 2.0% nickel, 1.1% cobalt, 33.0 g/t silver and 1.6% lead. Importantly, the rock samples confirm that the mineralization continues at surface beyond the historical mine workings.

Interestingly, there are no records of gold being extracted from Cármenes in the past, suggesting this could represent a newly recognized precious metal opportunity.

Next Steps: Drill Program Imminent

With the encouraging results in hand, Pan Global is now gearing up for a maiden drill program at Cármenes. The first hole will test the continuation of mineralization below the Providencia mine workings, with results potentially available by March.

"Our team is eagerly awaiting the results of additional trench and channel sampling completed at the Providencia target, and underground sampling at the Profunda target," said CEO Tim Moody. "The potential exists for the discovery of addition breccia pipes in proximity to Providencia and other target areas."

In addition to drilling, a helicopter-borne geophysical survey is underway to help identify and prioritize new targets across the 5,653 hectare property. Soil sampling has already defined several untested copper anomalies beyond Providencia and Profunda which require follow-up.

The company will provide further updates as work programs advance. Pan Global is well-positioned for an exciting year of exploration in 2025.

District Potential

The Cármenes Project is highly prospective for clusters of vertically-extensive, carbonate-hosted breccia pipe style copper-nickel-cobalt-gold mineralization. The presence of two past-producing mines, Providencia and Profunda, along with numerous smaller historical workings, underscores the district-scale potential.

"The Providencia and Profunda targets are carbonate-hosted "pipe-like" breccia style mineralization previously mined for copper, nickel, and cobalt," commented Tim Moody.  "Numerous mine and exploratory workings found during recent mapping and prospecting, including previously unrecorded tunnels and shafts, highlight additional mineral potential."

These breccia pipe deposits can demonstrate significant vertical dimensions in excess of 1 kilometer, providing considerable tonnage potential.

Well-Positioned for Discovery

After acquiring the Cármenes Project in early 2025, Pan Global has rapidly advanced the property to the drill stage. The company benefits from its strong technical team with a track record of discovery and a highly prospective land position in a favorable jurisdiction.

Spain's mineral wealth is well-established, however the country remains underexplored compared to other destinations. The Cármenes Project is located in a mining-friendly region and is supported by excellent infrastructure, expertise, and a motivated government that considers copper a strategic metal.

These advantages, combined with the company's Escacena Project in the prolific Iberian Pyrite Belt to the south, gives Pan Global a strong foothold in an emerging mineral exploration and development hub.

For Investors

The latest exploration results from Cármenes are a positive step for Pan Global Resources, confirming high-grade mineralization at Providencia and setting the stage for a promising initial drill test. With two drills now turning at Escacena and drilling about to commence at Cármenes, the company is entering an important phase that will help demonstrate the potential of its Spanish portfolio.

Building upon a foundation of detailed geological work and systematic exploration, Pan Global is well-positioned for discovery success. Meanwhile, the copper market's robust fundamentals should provide a supportive backdrop as the company aims to delineate new resources in a top jurisdiction.

Investors can expect a steady news flow in 2025 with drill results, geophysical survey interpretations, and target generation initiatives. Pan Global offers a compelling combination of near-term discovery potential, large-scale upside, and a highly capable technical and management team committed to sustainable value creation.