Mr. Tim Moody reports

PAN GLOBAL 2023 ACHIEVEMENTS SET STAGE FOR MILESTONE-RICH 2024 EXPLORATION PROGRAM AT ESCACENA PROJECT, SOUTHERN SPAIN

Pan Global Resources Inc. has provided a summary of milestone achievements in 2023 and plans for 2024. The 2024 plan will focus on the company's 100-per-cent-owned Escacena project located in the Iberian pyrite belt in southern Spain, a prolific polymetallic volcanogenic massive sulphide (VMS) district and Tier 1 mining jurisdiction.

"The Pan Global team delivered on key objectives in 2023 for the company's flagship Escacena project. The dimensions of the La Romana copper-tin-silver mineralization were increased significantly, further derisking the project. Preliminary metallurgy tests confirmed industry-leading copper recoveries. In addition, the team made a new copper-gold discovery at the highly prospective Canada Honda target. Plus, the pipeline of new exploration targets at Escacena was bolstered during the year following extensive detailed geophysics," said Pan Global president and chief executive officer Tim Moody.

"With funds in place to advance the Escacena project in 2024, investors should expect regular news flow. Results from additional drilling at La Romana are expected to further expand the western and northern extents of the La Romana mineralization in advance of a maiden mineral resource estimate. Drilling at the Canada Honda target is also expected to expand the discovery, and plans are in place to commence exploration at the Bravo target east of La Romana as soon as we have access to the farm. We are well positioned for an exciting year expanding our two discoveries at Escacena and advancing a growing pipeline of exploration targets," said Mr. Moody.

Highlights for 2023:

• Completed 60 drill holes (14,992 metres) on five targets;
• Completed preliminary metallurgy tests for La Romana confirming 86.4-per-cent to 89.5-per-cent copper recoveries at coarser grind size (lower energy) compared with regional operating mines. Copper concentrate grades of 23.8 per cent to 28.5 per cent with silver credits and very low deleterious elements were reported;
• Completed 20 holes of a planned 25-to-30-hole drill program testing the western projection of the near-surface La Romana mineralization and confirmed continuity of the mineralization over 1.35-kilometre east-west strike extent, open to the west and at depth to the north;
• Confirmed a new copper-gold discovery at Canada Honda based on initial wide-spaced drill results;
• Launched an 11-hole stepout drilling program at Canada Honda, with drilling to resume in January to test the potential along a two km gravity anomaly;
• Expanded the portfolio of untested Escacena project exploration targets to more than a dozen following an extensive geophysics and geochemistry survey program, including additional potential along trend from La Romana and numerous other targets offering additional discovery potential for future drill testing.

Additional achievements in 2023 include:

• Graduated to the OTCQX in the United States;
• Strengthened the company's sustainability and ESG (environmental, social, governance) commitment, targeting copper and other metals critical for global energy transition;
• Announced the company's first sustainability report, produced independently by Digbee ESG;
• Completed a $6-million non-brokered private placement financing in October.

2024 exploration plan

The 2024 plan will focus on:

1. Further drilling to delineate the western and northern extents of the La Romana mineralization ahead of a maiden mineral resource estimate;
2. Additional La Romana metallurgical test work;
3. Drilling to test the potential to significantly expand the copper-gold discovery at Cañada Honda;
4. Advancing the strong pipeline of new exploration targets for future drill testing.

Catalysts for 2024 to 2025 include:

• Drill hole results from continuing exploration drilling at La Romana and results for stepout drilling at the Canada Honda discovery;
• Gaining surface access to the highly prospective Bravo gravity target (less than two km along trend east of La Romana) for exploration;
• Tin metallurgical test results and variability test results on the La Romana mineralization;
• Continuing exploration results and drilling on new targets;
• Maiden National Instrument 43-101 compliant mineral resource estimate for La Romana and preliminary economic assessment.

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 a favourable permitting record, excellent 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, discovery, 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. The company is a member, and operates under the principles of, the United Nations Global Compact.

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