PAN GLOBAL INTERCEPTS FURTHER HIGHER-GRADE GOLD AND COPPER MINERALIZATION AT CÁRMENES PROJECT, SPAIN

Rhea-AI Summary

Pan Global Resources reported positive drill results from its maiden drilling campaign at the Cármenes Project in Spain. Key highlights include significant gold intercepts of 2.19 g/t over 4m, 1.05 g/t Au over 10m, and mixed mineralization of 0.59 g/t Au with 1.05% Cu, 0.22% Ni, and 0.22% Co over 4m. The drilling program revealed wide breccia gold intercepts, including 0.37 g/t Au over 56m and 0.23 g/t Au over 110m, suggesting shallow bulk-tonnage potential. Results from drillholes PVD03 and PVD04 expanded the breccia-hosted mineralization around the historical Providencia mine workings. The company plans three additional step-out holes targeting the principal untested gold zone at Providencia. A recent helicopter geophysics survey identified multiple new targets with characteristics similar to Providencia, indicating strong potential for additional discoveries.

Positive

• Discovery of significant gold mineralization in an area with no prior gold exploration history
• Wide mineralization zones indicate bulk-tonnage potential: 56m at 0.37 g/t Au and 110m at 0.23 g/t Au
• High-grade intercepts including 2.19 g/t gold over 4m and mixed mineralization with copper, nickel, and cobalt
• Multiple untested geophysical targets identified, suggesting potential for additional discoveries
• Mineralization remains open in multiple directions

Negative

• Insufficient drilling to determine true width of mineralization
• Early-stage exploration project with no resource definition yet
• Relatively low-grade bulk tonnage results in some intervals

TSXV: PGZ   |   OTCQB: PGZFF   |   FRA: 2EU   

• Higher-grade intervals include 2.19 g/t gold over 4 meters; 1.05 g/t Au over 10m; and 0.59 g/t Au, 1.05% Cu, 0.22% Ni, 0.22% Co over 4m
• Wide breccia gold intercepts, including 0.37 g/t Au over 56 meters and 0.23 g/t Au over 110 meters, highlights shallow bulk-tonnage potential
• Drilling now targeting the principal untested gold zone at Providencia with three planned step-out holes
• Multiple untested geophysics targets indicates strong potential for additional discoveries at Cármenes

VANCOUVER, BC, June 18, 2025 /PRNewswire/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) (FRA: 2EU) is pleased to announce results for two additional drillholes completed in the maiden drill campaign at the Company's 100%-owned Cármenes Project ("Cármenes"), northern Spain.

The new assay results are for drillholes PVD03 and PVD04, which targeted potential extensions of the breccia-hosted mineralization associated with the historical Providencia copper-cobalt-nickel underground mine workings. PVD03 was drilled immediately east of the historical mine workings, and PVD04 drilled through Cu-Ni-Co mineralized breccia. The Providencia target area had no previous drilling and no prior recognition of potential for significant gold mineralization.

Drill Highlights:

• Drillhole PVD03
  • Wide gold interval from near surface extending east of the mine workings
  • 56m at 0.37 g/t Au from 29m (downhole), including
    • 4m at 1.22 g/t Au from 64m
    • 10m at 1.05 g/t Au from 75m
    • 4m at 2.19 g/t Au from 81m
• Drillhole PVD04
  • High-grade copper, nickel, cobalt and selenium intercepts within a wider breccia zone with elevated gold
  • 110m at 0.23 g/t Au from 8m, including
    • 4m at 0.59 g/t Au, 1.05% Cu, 0.22% Co, 0.22% Ni
    • 2m at 0.21 g/t Au, 0.80% Cu, 0.23% Co, 0.60% Ni from 113m
    • 14m at 0.51 g/t Au from 11m
    • Several 1m intervals with grades from 1.08 g/t to 2.05 g/t Au

"The wide zones of breccia mineralization in Pan Global's maiden drill program at Cármenes highlight the potential for significant hydrothermal breccia-hosted gold, copper, nickel, and cobalt mineralization. The results expand the breccia-hosted mineralization south, east and north of the historical mine workings at Providencia and the target area remains wide open. The next three step-out holes will be the first tests of a wide zone with highly anomalous gold mineralization east of the Providencia workings, including channel sampling that returned 3.11 g/t gold over 37 meters," said Tim Moody, Pan Global President and CEO.

"We are also very excited by the results of the recently completed helicopter geophysics survey over Cármenes, which provides a rich dataset indicating multiple new targets with similar features to Providencia, indicating a high potential for discovery of additional gold, copper, nickel, and cobalt in the Project area."

Key points:

• The drill results reported to date are for three of the planned six-hole maiden drill campaign at Cármenes, which is the first-ever drilling at the Providencia target.
• First completed drillhole (PVD02) intersected a high-grade interval of 6.27 g/t gold over 4m within a broader interval averaging 1.08 g/t gold over 46m south of the historical mine workings. [See media release from May 19, 2025]
• The results for drillholes PVD03 and PVD04 expand the breccia-hosted gold zone to the east and north of the mine workings, and mineralization remains wide open.
• The upcoming three drillholes will step out up to 120m east of the Providencia mine workings, testing beneath recently reported high-grade trench and channel sample results (3.11 g/t Au over 37m and 1.74 g/t Au over 20m). [See media release from February 11, 2025]
• Interpretation of a recently completed helicopter electromagnetic, magnetic and radiometric survey over Cármenes is progressing quickly and indicates multiple additional targets with similar characteristics to Providencia.

Bravo Target drilling update

Pan Global is also pleased to report that following a pause for crop harvesting, drilling will resume at the large high-priority Bravo target at the flagship Escacena Project in southern Spain. The next three Bravo holes will test very strong IP-chargeability and coincident gravity and electromagnetic geophysics anomalies, and are expected to be completed over the next six weeks.

Table 1 – Providencia Drill Results Summary

Drillhole	From	To	Interval1	Au	Cu	Co	Ni
	m	m	m	g/t	ppm	ppm	ppm
PVD03	0.0	2.0	2.00	0.22	4050	666	1663
	29.0	85.0	56.0	0.37	15	7	56
including	64.0	85.0	21.0	0.75	12	2	15
Including	64.0	68.0	4.0	1.22	14	3	22
Including	75.0	85.0	10.0	1.05	15	2	19
including	81.0	85.0	4.0	2.19	16	2	20
PVD04	8.0	118.0	110.0	0.23	564	134	241
including	11.0	25.0	14.0	0.51	61	16	93
Including	19.0	20.0	1.0	1.08	22	4	67
including	24.0	25.0	1.0	1.30	552	195	852
including	71.0	75.0	4.0	0.59	10468	2193	2206
including	77.0	78.0	1.0	2.05	39	5	49
including	91.0	92.0	1.0	1.09	150	23	67
including	113.0	115.0	2.0	0.21	7980	2335	6030

1 All intercepts are reported as downhole drill widths. There is insufficient drilling to constrain the geometry to determine true width.

Table 2 –Drillhole Collar Information

Hole ID	Easting2	Northing2	Azimuth (º)	Dip (º)	Length (m)
PVD03	287513	4761181	10.0	-36.0	161.6
PVD04	287514	4761183	353.0	-39.5	166.4

2 Coordinate system: UTM30N ERTS89

About the Cármenes Project

The Cármenes Project is located approx. 55km north of León in northern Spain and comprises five Investigation Permits over 5,653 hectares. The Project area is highly prospective for multiple bodies or "clusters" of carbonate-hosted "pipe-like" breccia style copper, nickel, cobalt, and gold mineralization. The area includes the former Profunda and Providencia mines that last operated in the 1930s, producing concentrates of copper and cobalt with nickel. Numerous other smaller historical mine workings in the area highlight potential for additional breccia pipes. These types of ore deposits can have significant vertical dimensions exceeding 1km.

About Pan Global Resources

Pan Global Resources Inc. is actively exploring for copper-rich mineral deposits along with gold and other metals. Copper has compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. Gold is also attracting record prices.

The Company's flagship Escacena Project is located in the prolific Iberian Pyrite Belt in southern Spain, where a favourable permitting track record, excellent infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one low-risk jurisdiction for mining investment. The Company's second project, at Cármenes in northern Spain, is also an area with a long mining history and excellent infrastructure. 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 our partnered communities. The Company is a member, and operates under the principles, of the United Nations Global Compact.

Qualified Persons

Álvaro Merino, Vice President Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has approved the scientific and technical information for this media release. Mr. Merino is not independent of the Company.

QA/QC 

Core size was HQ (63mm) and all samples were ½ core. Nominal sample size was 1m core length and ranged from 0.5 to 2m. 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 was supervised at all times by Company staff. Duplicate samples of ¼ core were taken approximately every 30 samples and Certified Reference materials inserted every 25 samples in each batch.

Samples were delivered to ALS laboratory in Seville, Spain and assayed at the ALS laboratory in Ireland. All samples were crushed and split (method CRU-31, SPL22Y), and pulverized using (method PUL-31). Gold, platinum and palladium analysis was by 50gm fire assay with ICP finish (method Au-ICP-24) and multi element analysis was undertaken using a 4-acid digest with ICP AES finish (method ME-ICP-61). Over grade base metal results were assayed using a 4-acid digest ICP AES (method OG-62).

Forward-looking statements

Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. The Company believes that the expectations reflected in the forward-looking information included in this media release are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company's operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.

The forward-looking information contained in this media release is based on information available to the Company as of the date of this media release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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SOURCE Pan Global Resources Inc.

FAQ

What are the key drill results from Pan Global's Cármenes Project?

Key results include 2.19 g/t gold over 4m, 1.05 g/t Au over 10m, and 0.59 g/t Au with 1.05% Cu, 0.22% Ni, 0.22% Co over 4m, plus wider intervals of 0.37 g/t Au over 56m and 0.23 g/t Au over 110m.

Where is PGZFF's Cármenes Project located?

The Cármenes Project is located in northern Spain and is 100% owned by Pan Global Resources.

What is the significance of Pan Global's Providencia target discovery?

The Providencia target represents a new discovery with no previous drilling or recognition of gold potential, showing significant breccia-hosted gold, copper, nickel, and cobalt mineralization that remains open in multiple directions.

What are the next steps for Pan Global's Cármenes Project?

The company plans three step-out holes to test a wide zone with highly anomalous gold mineralization east of the Providencia workings, where channel sampling returned 3.11 g/t gold over 37 meters.

What did the recent geophysics survey at Cármenes reveal?

The helicopter electromagnetic, magnetic and radiometric survey identified multiple new targets with similar characteristics to Providencia, indicating high potential for additional gold, copper, nickel, and cobalt discoveries.