Mr. Tim Moody reports

PAN GLOBAL DRILLS 1.3% COPPER AND 0.5 G/T GOLD OVER 5.1M WITHIN 20M AT 0.5% COPPER AND 0.3 G/T GOLD AT CANADA HONDA IN THE ESCACENA PROJECT, SOUTHERN SPAIN

Pan Global Resources Inc. has released positive results for the first of three follow-up drill holes at the Canada Honda target at the company's 100-per-cent-owned Escacena project in the Iberian pyrite belt, southern Spain.

"Higher-grade copper mineralization continues to be delineated at the Canada Honda target. Hole CHD05 reported today was a large stepout along a two-kilometre-long gravity anomaly and intercepted a wide zone of copper-gold mineralization 150 metres down dip. It is particularly encouraging to see an increase in thickness of the copper-gold mineralization down dip coincident with a gravity target. This indicates good potential for additional mineralization associated with the gravity anomaly," said Tim Moody, Pan Global's president and chief executive officer.

Mr. Moody added, "Follow-up drill hole CHD06, more than 100 m to the east of hole CHD05, has intersected visible copper mineralization coincident with a down-hole EM [electromagnetic] conductor anomaly, confirming that mineralization at Canada Honda is open in all directions."

Canada Honda, one of more than 14 gravity anomalies in the Escacena project, is a high-priority target following drill results reported on June 1, 2023, that show gold and copper mineralization increasing down dip on the edge of a two km long east-west gravity and down-hole EM anomaly. Drill hole CHD05, the first of a three-hole follow-up drill program, targeted the gravity anomaly 150 m down dip from previous drill hole CHD04, and approximately 330 m down dip from a historical mine tunnel. Results are pending for hole CHD06, located 100 m east of CHD05, targeting a large DHEM anomaly. Hole CHD07 is in progress, targeting a resistivity-low anomaly 100 m down dip from CHD05. The Canada Honda target is approximately 3.5 km north of Pan Global's La Romana copper-tin-silver discovery at the Escacena project.

Drill results for Canada Honda hole CHD05 are summarized in an attached table.

Highlights:

• Hole CHD05 confirms that copper-gold mineralization continues with increasing thickness 150 m down dip from hole CHD04 and remains wide open.
• Results for CHD05 include:
  • 20 m at 0.5 per cent copper, 0.3 gram per tonne gold and 1.9 grams per tonne silver from 287 m down hole, including:
    • 5.1 m at 1.3 per cent Cu, 0.5 g/t Au and 3.9 g/t Ag;
    • 0.5 m at 10.3 per cent Cu, 1.4 g/t Au and 29 g/t Ag.
  • Assays are pending for the upper part of the drill hole.
• Hole CHD06 shows visible copper mineralization coincident with the DHEM target approximately 100 m east of hole CHD05.

Quality assurance/quality control procedures

Core size was HQ (63 millimetres), and all samples were one-half core. Nominal sample size was one m core length and ranged from 0.4 m to two m. Sample intervals were defined using geological contacts, with the start and end of each sample physically marked on the core. Diamond blade core cutting and sampling were supervised at all times by company staff. Duplicate samples of one-fourth core were taken approximately every 30 samples, and certified reference materials were inserted every 25 samples in each batch.

Samples were delivered to the ALS laboratory in Sevilla, Spain, and assayed at the ALS laboratory in Ireland. All samples were crushed and split (method CRU-31, SPL22Y), and pulverized (method PUL-31). Gold analysis was by 50 g fire assay with ICP finish (method Au-ICP22), and multielement analysis was undertaken using a four-acid digest with ICP-AES finish (method ME-ICP61). Overgrade base metal results were assayed using a four-acid digest with ICP-AES finish (method OG-62).

About Pan Global Resources Inc.

Pan Global Resources is actively targeting copper-rich mineral deposits, given copper's compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. The company's flagship Escacena project is located in the prolific Iberian pyrite belt in southern Spain, where infrastructure, mining, and professional expertise and support for copper as a strategic raw material by the European Commission collectively define a Tier 1 jurisdiction for mining investment. The Pan Global team comprises proven talent in exploration, development and mine operations -- all of which are committed to operating safely and with utmost respect for the environment and partnered communities.

Qualified person

James Royall, vice-president of exploration, 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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