Mr. James Royall reports

PAN GLOBAL COMMENCES EXPLORATION AT ROMANA WEST IN THE ESCACENA PROJECT, SOUTHERN SPAIN

Pan Global Resources Inc. has commenced exploration activities at the Romana West target of the Escacena project in the Iberian pyrite belt, southern Spain.

Romana West is a high-priority gravity anomaly on the potential western continuation of Pan Global's La Romana copper-tin-silver discovery. The gravity anomaly at Romana West and the coincident historic mine workings indicate potential to extend the La Romana mineralization a further 800 to 1,000 metres beyond the 1.2 kilometres of strike already defined by more than 150 holes drilled to date. The drilling at La Romana shows the copper, tin and silver mineralization remains open to the west in the direction of the Romana West target and is open down dip.

Since gaining surface access to the 680-hectare area west of La Romana last week, the company has accelerated an exploration program over the Romana West target, including detailed gravity and induced polarization (IP) surveys, mapping, and sampling of the historic mine workings. These surveys will help guide the planned diamond drill program. This is the first exploration of this area since the mineral rights were granted and since the area was last explored in the early 1980s by Exxon. Most of the area has a thin cover of postmineral rocks and sediments.

The exploration program at Romana West includes an initial 100 m by 50 m gravity survey, a 200 m line-spaced dipole-dipole IP survey and soil sample geochemistry. The geophysics surveys and soil geochemistry will also expand to cover several other large untested targets at Escacena, including Romana North, Barbacena and El Pozo.

Specific surveying, geochemical sampling and mapping of the historic mine workings at Romana West have also commenced. Initial observations of copper mineralization exposed in the mine workings and in outcrops nearby suggest the 1.2 km copper mineralized trend at La Romana continues at least 250 metres beyond the westernmost limit of drilling to date and remains open farther to the west.

An initial 25-to-30-drill-hole program is planned at Romana West with drilling to be on north-south lines 100 metres apart to help delineate the western strike extent and test continuation of the near-surface La Romana mineralization to 200 m down dip. Site preparations for the drill program will commence within the next two weeks.

Drilling at the Escacena project continues with the two planned drill holes at the Canada Honda target now complete and core samples sent for chemical analysis. Drill rigs are completing the final planned holes at the La Romana and Zarcita targets and will be mobilized to Romana West for the maiden drill campaign. Results pending for approximately 20 drill holes will be released as soon as they are available.

Pan Global looks forward to updating shareholders as the Romana West exploration program progresses in the coming weeks.

About the Escacena project

The Escacena project comprises a large, contiguous, 5,760-hectare land package controlled 100 per cent by Pan Global in the east of the Iberian pyrite belt. Escacena is located near operating mines at Las Cruces and Riotinto and is immediately adjacent to the former Aznalcollar and Los Frailes mines where Minera Los Frailes/Grupo Mexico is in the final permitting stage with construction anticipated to start in 2023. The Escacena project hosts the La Romana copper-tin-silver discovery and a number of other prospective targets, including Zarcita, Hornitos, La Jarosa, Romana Deep, Romana North, Romana West, Canada Honda, Bravo, Barbacena, El Pozo and San Pablo.

About Pan Global Resources Inc.

Pan Global Resources is actively engaged in base and precious metal exploration in southern Spain and is pursuing opportunities from exploration through to mine development. The company is committed to operating safely and with respect to the communities and environment where it operates.

Qualified person

James Royall, vice-president, exploration, for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information for this news release. Mr. Royall is not independent of the company.

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