Mr. Tim Moody reports

PAN GLOBAL DRILLING EXPANDS MINERALIZATION AT LA ROMANA IN THE ESCACENA PROJECT, SPAIN

Pan Global Resources Inc. has released assay results for 15 drill holes at the La Romana discovery on the company's 100-per-cent-owned Escacena project in the Iberian pyrite belt in southern Spain. La Romana represents a coherent zone of moderately northward-dipping copper-tin-silver mineralization, currently delineated over approximately 1.2 kilometres along strike and from surface to 400 metres down dip. A planned 25-hole drill program is continuing to expand and test the western extensions to the near-surface mineralization at the Romana West target.

Highlights:

• LRD158 -- 5.6 m at 1.2 per cent Cu and 3.3 grams per tonne Ag from 195.4 m as well as one m at 3.6 per cent Cu and 19.4 g/t Ag from 109 m;
• LRD154 -- 23 m at 0.4 per cent Cu, 0.12 per cent Sn and two g/t Ag from 33 m, including:
  • Seven m at 0.5 per cent Cu, 0.23 per cent Sn and 2.8 g/t Ag.
• LRD147 -- 32.25 m at 0.4 per cent Cu, 0.05 per cent Sn and 1.3 g/t Ag from 114 m, including:
  • 3.25 m at 1.9 per cent Cu, 0.36 per cent Sn and 7.6 g/t Ag.
• LRD146 -- 30 m at 0.3 per cent Cu, 0.05 per cent Sn and 1.8 g/t Ag from 151 m, including:
  • Eight m at 0.6 per cent Cu, 0.11 per cent Sn and 3.4 g/t Ag.
• LRD150 -- 10 m at 0.6 per cent Cu and 2.1 g/t Ag from 83 m, including:
  • Four m at 1.2 per cent Cu and four g/t Ag.
• LRD157 -- 0.5 m at 5.1 per cent Cu and 24.5 g/t Ag from 110 m as well as three m at 1.5 per cent Cu and 3.6 g/t Ag from 195 m.

Tim Moody, Pan Global's president and chief executive officer, commented: "We are very pleased with these results, which successfully expand the copper and copper-tin-silver mineralization at La Romana and further demonstrates the favourable continuity of the mineralization.

"The new stepout drill holes show the mineralization continues to remain open down dip along the northern extent of the drilling. Infill drill holes in the northeast confirm continuity of high-grade mineralization intersected in previous drilling. Three infill holes, drilled for the ongoing tin metallurgy test program, confirm continuity of the tin mineralization in the west.

"At Romana West, we continue to be encouraged by the visible copper and tin mineralization observed in drill core from initial drill holes at this high-priority target that represents the potential western extension to the La Romana copper-tin-silver mineralization.

"Results are also pending from the recently completed follow-up drill program at the Canada Honda copper-gold target less than four kilometres to the north of La Romana."

Drill results are summarized in an attached table.

Stepout drill holes

The stepout drill holes have expanded the northern limits of the La Romana copper and copper-tin-silver mineralization 50 m to 70 m farther down dip on several sections, and show the mineralization remains open at depth. Results include broad zones of copper mineralization and/or bands of high-grade copper mineralization with associated strong chlorite alteration, indicating potential for mineralization to continue at depth. The mineralization also remains open along strike. Selected highlights include:

• LRD146 -- 30 m at 0.3 per cent Cu, 0.05 per cent Sn and 1.8 g/t Ag from 151 m, including eight m at 0.6 per cent Cu, 0.11 per cent Sn and 3.4 g/t Ag;
• LRD147 -- 32.25 m at 0.4 per cent Cu, 0.05 per cent Sn and 1.3 g/t Ag from 112 m, including 3.25 m at 1.9 per cent Cu, 0.36 per cent Sn and 7.6 g/t Ag;
• LRD149 -- 0.5 m at 4.6 per cent Cu and 10.3 g/t Ag from 290.8 m as well as 0.5 m at 3.1 per cent Cu and 9.7 g/t Ag from 341.9 m;
• LRD150 -- four m at 1.2 per cent Cu and 4.0 g/t Ag from 83 m, stratigraphically above the main La Romana mineralization;
• LRD153 -- 36.5 m at 0.3 per cent Cu and 1.7 g/t Ag from 288 m.

Infill drill holes

The infill drilling included testing an area previously inaccessible due to farm infrastructure and confirmed additional high-grade copper mineralization within a continuous zone extending from near surface to approximately 450 m down dip. Three additional infill drill holes (LRD152, LRD154 and LRD159) complement a tin metallurgical test program and confirmed continuity of the high-grade tin mineralization in the west. Selected highlights include:

• LRD156 -- one m at 1.5 per cent Cu and 7.5 g/t Ag from 171 m; 25 m at 0.3 per cent Cu and 1.2 g/t Ag from 203 m, including 1.6 m at 1.9 per cent Cu and 7.4 g/t Ag; and 0.5 m at 2.0 per cent Cu and 8.4 g/t Ag from 262.7 m;
• LRD157 -- 0.5 m at 5.1 per cent Cu, 24.5 g/t Ag and 0.12 g/t gold; three m at 1.5 per cent Cu and 3.6 g/t Ag from 195 m; and 0.65 m at 1.8 per cent Cu and 13.6 g/t Ag from 228.35 m;
• LRD158 -- 0.5 m at 3.0 per cent lead, 4.0 per cent zinc, 0.2 per cent Cu and 22.9 g/t Ag from 62.5 m; one m at 3.6 per cent Cu and 19.4 g/t Ag from 109 m; and 5.6 m at 1.2 per cent Cu and 3.3 g/t Ag from 195.4 m, including 0.35 m at 10.5 per cent Cu, 26.1 g/t Ag, 0.14 g/t Au and 0.08 per cent cobalt from 196.3 m;
• LRD154 -- 23 m at 0.4 per cent Cu, 0.12 per cent Sn and 2.0 g/t Ag from 33 m, including seven m at 0.5 per cent Cu, 0.23 per cent Sn and 2.8 g/t Ag (highest tin intersections on this section);
• LRD159 -- one m at 0.5 per cent Cu, 0.68 per cent Sn and 2.5 g/t Ag from 24 m as well as 19 m at 0.4 per cent Cu, 0.05 per cent Sn and 1.3 g/t Ag from 37 m.

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.

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 0.5 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). Overgrade tin was determined using peroxide fusion with ICP finish (method Sn-ICP81x).

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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