Mr. Tim Moody reports

PAN GLOBAL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Pan Global Resources Inc. has arranged a non-brokered private placement financing of up to 10 million units of securities at a price of 20 cents per unit for aggregate gross proceeds of up to $2-million.

Each unit will comprise one common share and one non-transferable common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of 30 cents for a period of three years from the closing of the offering.

"The proceeds from this placement will enable us to further define the extension of the copper-tin-silver mineralization at La Romana, continue testing other high-priority targets, such as the copper-gold Canada Honda discovery, and follow up new gravity targets, including Barbacena and Romana Norte," said Tim Moody, Pan Global's president and chief executive officer.

The expiry date of the warrants may be accelerated by the company if the common shares of the company achieve a volume-weighted average trading price greater than 40 cents for 20 consecutive trading days after four months and one day following the closing of the offering.

The net proceeds of the offering will be used to advance the company's successful exploration program at the flagship Escacena project in southern Spain and for general working capital. Finders' fees may be payable on a portion of the offering.

The offering is scheduled to close on or about Oct. 31, 2023, and is subject to the approval of the TSX Venture Exchange. The common shares issued pursuant to this private placement will be subject to a four-month hold period in Canada and will be subject to United States resale restrictions under U.S. securities laws.

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.

We seek Safe Harbor.