PAN GLOBAL WELCOMES APPROVAL OF GRUPO MEXICO'S ADJACENT LOS FRAILES MINE

Rhea-AI Summary

Pan Global Resources acknowledges the approval of Minera Los Frailes' restoration plan and exploitation permit by the Andalucian Government. The Los Frailes underground mine, owned primarily by Grupo México (97.31%), will be developed adjacent to Pan Global's Escacena Project in Spain. The project highlights Andalucia's status as a Tier-1 mining jurisdiction and is expected to operate for 20 years, producing zinc, lead, and copper concentrates. Pan Global's La Romana copper discovery, located west of Los Frailes, features a near-surface copper-tin-silver deposit with favorable metallurgy for potential open pit development. The company continues its multi-target drill program at Escacena, with upcoming drilling at the Bravo target and planned step-out holes at La Romana. Additionally, results are expected from the Cármenes Project in northern Spain, where high-grade gold mineralization was recently discovered.

Positive

• Strategic location of Pan Global's Escacena Project adjacent to the newly approved Los Frailes mine
• Potential synergies from increased regional investment and infrastructure upgrades
• La Romana deposit shows favorable characteristics for open pit development with outstanding metallurgy
• Multiple growth opportunities with La Romana remaining open for expansion and other exploration targets
• Recent discovery of high-grade gold mineralization at the Cármenes Project

Negative

• None.

TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU 

Pan Global's Escacena Project strategically located adjacent to Minera Los Frailes Mine

VANCOUVER, BC, June 3, 2025 /PRNewswire/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) (FRA: 2EU) today acknowledges the approval by the Government of Andalucia of the restoration plan and exploitation permit for Minera Los Frailes to develop the Los Frailes underground mine adjacent to Pan Global's 100%-owned flagship Escacena Project ("Escacena") in southern Spain. Minera Los Frailes is owned by Grupo México (97.31%), and Magtel (2.69%). Grupo México is the fourth-largest copper producer by volume globally.

The granting of the exploitation permit reaffirms Andalucia's status as a Tier-1 global mining jurisdiction. The Los Frailes zinc, copper, lead and silver mining project is expected to generate significant investment and employment in the region.

"This milestone for our neighbors at Minera Los Frailes highlights the strength of the permitting environment in Andalucia and underscores the strategic location of our 100%-owned Escacena Project," said Tim Moody, President and CEO of Pan Global. "With our La Romana copper discovery located just west of the planned Los Frailes mine, Pan Global is uniquely positioned to benefit from increased regional investment, infrastructure upgrades, and other synergies. The Los Frailes mine will be a significant new mine development, with an anticipated 20-year mine life, and a plant producing zinc, lead, and copper concentrates."

La Romana hosts a near-surface copper-tin-silver deposit with outstanding metallurgy and characteristics favorable to potential open pit development, supporting Pan Global's strategy to advance a significant, low-cost, and sustainable copper project within a Tier-1 mining district. The La Romana deposit remains open for expansion in several areas and significant upside is also represented by the many other targets in the Escacena Project area.

A multi-target drill program is continuing at Escacena as drilling is set to resume at the high priority Bravo target after a short pause for the local wheat harvest. The next round of step-out drillholes is being finalized at La Romana, targeting higher-grade extensions of mineralization. Results are also anticipated within the next two weeks from the ongoing drill program in the Cármenes Project in northern Spain where near-surface high-grade gold mineralization has been reported from the Company's first drillhole (see the May 19, 2025 media release).

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.

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 is the significance of Los Frailes mine approval for Pan Global Resources (PGZFF)?

The approval validates Andalucia as a Tier-1 mining jurisdiction and positions Pan Global's adjacent Escacena Project to benefit from increased regional investment, infrastructure upgrades, and potential synergies.

What are the key features of Pan Global's (PGZFF) La Romana deposit?

La Romana is a near-surface copper-tin-silver deposit with outstanding metallurgy, favorable characteristics for open pit development, and remains open for expansion in several areas.

Who owns the Los Frailes mine project adjacent to Pan Global's property?

The Los Frailes mine is owned by Grupo México (97.31%) and Magtel (2.69%), with Grupo México being the fourth-largest copper producer globally.

What is the expected lifespan and production focus of the Los Frailes mine?

The Los Frailes mine has an anticipated 20-year mine life and will produce zinc, lead, and copper concentrates.

What are Pan Global's (PGZFF) current exploration activities?

Pan Global is conducting a multi-target drill program at Escacena, planning to resume drilling at the Bravo target, and awaiting results from the Cármenes Project where high-grade gold mineralization was discovered.