Mr. Tim Moody reports

PAN GLOBAL REPORTS NEAR-SURFACE COPPER-TIN MINERALIZATION AT ROMANA WEST IN THE ESCACENA PROJECT, SPAIN

Initial drilling at Pan Global Resources Inc.'s high-priority Romana West target has intersected visible copper and tin mineralization in the first two drill holes. The Romana West target includes the westward projection of a large gravity anomaly coincident with the La Romana discovery and potential extension to the near-surface La Romana copper-tin-silver mineralization. Drilling to date at La Romana shows the mineralization extends over approximately 1.2 kilometres of strike and remains wide open to the west in the direction of the historical La Romana mine workings at the Romana West target. Detailed geophysics, geochemistry and geological surveys are expanding in the area.

"We are highly encouraged by the first two drill holes on the Romana West target, indicating a continuation of the near-surface copper and tin mineralization to the west of the La Romana discovery. From less than 50 metres below surface, sections of the drill core show visible copper and tin mineralization, including chalcocite, chalcopyrite, local coarse-grain cassiterite and intervals of mixed massive sulphides. Mineralization style and composition is similar to that encountered at La Romana. These are the first drill holes of an initial 25-to-30-drill-hole campaign with the goal of extending the La Romana near-surface copper-tin-silver mineralization beyond the 1.2 kilometres of strike already delineated," said Tim Moody, Pan Global's president and chief executive officer.

A 25-to-30-drill-hole campaign (approximately 6,000 metres) commenced at Romana West in June, aiming to delineate the western extent of the near-surface La Romana mineralization. Geophysics and geochemistry surveys are continuing to prioritize and refine drill hole locations. Assays are pending for the first two completed drill holes, LRD161 and LRD162. Visible copper and tin mineralization and alteration assemblages observed in these drill holes confirm continuation of the mineralization to the west of La Romana. Hole LRD163, the westernmost drill hole to date, is in progress and testing approximately 100 metres west of the previously known extent of the mineralization.

Additional drill results will be released as they become available.

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 are 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 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 the company's partnered communities.

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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