PAN GLOBAL INTERSECTS 1.14% COPPER OVER 18 METERS, EXPANDING NEAR-SURFACE MINERALIZATION AT LA ROMANA, SOUTHERN SPAIN

Rhea-AI Summary

Pan Global Resources Inc. (TSXV: PGZ) (OTCQX: PGZFF) has announced promising results from its ongoing drill program at the La Romana copper-tin-silver discovery in southern Spain. Highlights include:

• Drillhole LRD181: 18.0m at 1.24% CuEq (1.14% Cu, 0.03% Sn, 2.6 g/t Ag) from 69m, including 5.0m at 3.51% CuEq
• Drillhole LRD183: 9.0m at 1.31% CuEq (1.27% Cu, 0.01% Sn, 2.7 g/t Ag) from 103m, including 2.0m at 5.12% CuEq

These results confirm the continuity and expansion of near-surface Cu-Sn-Ag mineralization to the west. The La Romana mineralization now spans 1.5km east-west, with significant potential for further expansion.

Positive

• High-grade copper intersections: 1.14% Cu over 18m and 1.27% Cu over 9m
• Expansion of near-surface mineralization at La Romana
• Continuity of higher-grade copper mineralization confirmed
• La Romana mineralization now spans 1.5km east-west
• Significant potential for further expansion of the deposit

Negative

• None.

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

• Highest near-surface grade-thickness copper intersection in the current drill program on the growing west extension at La Romana
• Results include 3.3% copper over 5 meters and 5.0% copper over 2 meters
• Confirms continuity and higher-grade mineralization remain wide open
• La Romana is a standalone open-pit target with significant potential to expand the copper-tin- silver mineralization in several directions

VANCOUVER, BC, Sept. 10, 2024 /PRNewswire/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) (FRA: 2EU) is pleased to announce results for three additional holes from the ongoing drill program at the La Romana copper-tin-silver (Cu-Sn-Ag) discovery, in the Company's 100% owned Escacena Project in the Iberian Pyrite Belt, southern Spain. Results and accompanying figures shown below.

Highlights:

• Drillhole LRD181 intersected:
  • 18.0m at 1.24% CuEq¹ (1.14% Cu, 0.03% Sn, 2.6 g/t Ag) from 69m, including
    • 5.0m at 3.51% CuEq¹ (3.33% Cu, 0.06% Sn, 6.8 g/t Ag)
• Drillhole LRD183 intersected: 
  • 9.0m at 1.31% CuEq¹ (1.27% Cu, 0.01% Sn, 2.7 g/t Ag) from 103m, including
    • 2.0m at 5.12% CuEq¹ (5.0% Cu, 0.02% Sn, 10.7 g/t Ag)
• Drillhole LRD182 intersected: 
  • 7.25m at 0.92% CuEq¹ (0.81% Cu, 0.03% Sn, 2.5g/t Ag) from 132.75m, including
    • 4.0m at 1.42% CuEq¹ (1.29% Cu, 0.04% Sn, 3.8g/t Ag)

"These drill results from La Romana are very encouraging, confirming the near-surface Cu-Sn-Ag mineralization continues and is open to the west. Drillhole LRD181, with an intercept of 18m of 1.24% CuEq¹, represents one of the best results so-far from the current 25-hole drill program targeting the western extension of the deposit. The new holes are 40-to-50 meters from the next nearest holes and highlight potential to extend the higher-grade copper mineralization with further step-outs. The La Romana mineralization now spans 1.5km east-west, and shows significant upside potential for further expansion," said Tim Moody, Pan Global's President & CEO.

The latest results are part of a 25-hole resource delineation program at the western extension of the La Romana deposit and the three drillholes extend the higher-grade copper mineralization in the west of La Romana. Three additional holes remain to be drilled as part of the planned delineation drill program in the west of La Romana, with expansion of the drill program anticipated.

Investor webcast:

The Company will host an investor webcast with CEO Tim Moody on Wednesday, September 18, 2024 at 1 p.m. Eastern Time / 10 a.m. Pacific Time to discuss progress at the Escacena Project and provide an update on the ongoing work. A Q&A session will follow a short presentation. Please register in advance:

https://us06web.zoom.us/webinar/register/WN_kdeQWo-3QSu1bfKVl59i8Q.

Table 1 – La Romana Selected Drill Results

Hole ID	From	To	Interval	CuEq1	Cu	Sn	Ag	Au	Pb	Zn	True Thickness
	m	m	m	%	%	%	g/t	g/t	ppm	ppm	(m)
LRD181	69.00	87.00	18.00	1.24	1.14	0.03	2.6	0.01	13	106	12.7
including	74.00	86.00	12.00	1.76	1.62	0.05	3.6	0.01	14	125	8.5
including	81.00	86.00	5.00	3.51	3.33	0.06	6.8	0.03	21	201	3.5
and	125.00	134.00	9.00	0.66	0.45	0.08	1.1	0.01	4	57	6.4
including	130.00	132.00	2.00	1.49	1.09	0.14	3.3	0.04	13	91	1.4
LRD182	132.75	140.00	7.25	0.92	0.81	0.03	2.5	0.02	109	354	5.1
including	136.00	140.00	4.00	1.42	1.29	0.04	3.8	0.03	142	523	2.8
and	192.00	198.00	6.00	0.27	0.24	0.01	0.7	0.01	6	48	4.2
including	197.00	198.00	1.00	1.09	0.98	0.04	2.8	0.02	23	73	0.7
and	205.00	207.00	2.00	0.65	0.51	0.05	0.3	0.05	19	63	1.4
LRD183	103.00	112.00	9.00	1.31	1.27	0.01	2.7	0.01	8	100	8.5
including	106.00	112.00	6.00	1.89	1.83	0.02	3.8	0.02	9	120	5.7
Including	110.00	112.00	2.00	5.12	5.00	0.02	10.7	0.04	22	232	1.9
and	149.00	159.00	10.00	0.33	0.26	0.02	0.3	0.02	6	54	9.5

1 Copper Equivalent = CuEq. CuEq is calculated using Cu, Sn, and Ag grades. Metallurgical recoveries include 86% for Cu, 68% for Sn and 56% for Ag, based on preliminary studies performed by Wardell Armstrong International and MinePro. The CuEq calculation uses US$ 8,693/tonne Cu, US$ 29,069/tonne Sn and US$ 23.72/oz Ag, corresponding to the three-year monthly price averages to July 2023. The effective formula is [CuEq %] = [Cu %] + 2.6440 * [Sn %] + 0.0057 * [Ag ppm]

Table 2 – La Romana Drillhole Collar Information (total 658.95m)

Hole ID	Easting2	Northing2	Azimuth (º)	Dip (º)	Length (m)
LRD181	735894	4152788	180	-90	181.15
LRD182	735868	4152878	156	-90	271.5
LRD183	735833	4152902	200	-60	206.3

2 Coordinate system: UTM29N ERTS89

Note that in Figure 2 and Figure 3 above, drillholes LRD 169 and LRD 172 were previously reported in a November 7, 2023 media release, "Pan Global Intersects 1.04% Copper Over 15.9 Meters at Western Expansion of La Romana Copper-Tin-Silver Discovery" and LRD 179 was previously reported in a January 8, 2024 media release, "Pan Global Intersects 1.6% Copper Over 9.7 Meters Confirming Continuity of La Romana Copper-Tin-Silver Discovery Over 1.4km".

About the Escacena Project

The Escacena Project comprises a large, contiguous, 5.760-hectare land package controlled 100% by Pan Global in the east of the Iberian Pyrite Belt. Escacena is located near the operating mine at Riotinto and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes/Grupo México is in the final permitting stage with construction anticipated to start in 2024. The Escacena Project hosts Pan Global's La Romana copper-tin-silver and Cañada Honda copper-gold discoveries and a number of other prospective targets, including Bravo, Barbacena, El Pozo, Romana Norte, San Pablo, Zarcita, Hornitos, La Jarosa, Romana Deep, and Cortijo.

About Pan Global Resources

Pan Global Resources Inc. 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 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 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 our partnered communities. The Company is a member, and operates under the principles of, the United Nations Global Compact.

QA/QC Procedures

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 analysis was by 50gm fire assay with ICP finish (method Au-ICP22) and multi element analysis was undertaken using a 4-acid digest with ICP AES finish (method ME-ICP61). Over grade base metal results were assayed using a 4-acid digest ICP AES (method OG-62).

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.

www.panglobalresources.com

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 were the key drilling results for Pan Global Resources (PGZFF) at La Romana?

Key results include 18.0m at 1.24% CuEq (1.14% Cu) from 69m in LRD181 and 9.0m at 1.31% CuEq (1.27% Cu) from 103m in LRD183, confirming high-grade copper mineralization.

How has the La Romana mineralization expanded according to Pan Global's (PGZFF) latest results?

The La Romana mineralization now spans 1.5km east-west, with the latest results confirming the continuity and expansion of near-surface Cu-Sn-Ag mineralization to the west.

What is the potential for further expansion at Pan Global's (PGZFF) La Romana discovery?

The company reports significant upside potential for further expansion, with the mineralization remaining open and showing promising results in step-out drilling.

When is Pan Global Resources (PGZFF) hosting an investor webcast to discuss the Escacena Project?

Pan Global is hosting an investor webcast on Wednesday, September 18, 2024, at 1 p.m. Eastern Time / 10 a.m. Pacific Time to discuss progress at the Escacena Project and provide updates.