#Spain #Pan Global #Andalusia #Escacena #Bravo

Pan Global Initiates Drilling at the Bravo Target

Pan Global Resources Inc. has officially kicked off drilling activities at the Bravo target, part of its Escacena copper, tin, gold, and silver project in southern Spain. This project is 100% owned by the company and located just one kilometer east of the notable copper-tin-silver discovery at La Romana. The Bravo target is situated approximately 3.5 kilometers southwest of the Aznalcóllar-Los Frailes mining project operated by Grupo México. The initial phase of drilling is projected to be completed by mid-2025.

This drilling initiative is pivotal as it represents the first step toward investigating a substantial gravity anomaly, which spans 2 kilometers by 1.5 kilometers. Tim Moody, President and CEO of Pan Global, expressed optimism regarding the potential for mineralization at Bravo, echoing the characteristics observed in the La Romana discovery.

The recent induced polarization (IP) survey spanning 18.2 kilometers has revealed coinciding chargeability and resistivity anomalies with the Bravo gravity anomaly. These findings imply potential extensions along the geological alignment that hosts the mineralization found at La Romana, thus enhancing the exploration efforts at the Bravo site. The current drilling program is designed to assess the mineralization related to volcanogenic massive sulfide (VMS) deposits.

The inaugural drilling phase at Bravo will consist of up to eight widely spaced boreholes targeting the geophysical and geochemical anomalies identified during the earlier surveys, which included detailed gravity modeling and electromagnetic data analysis. A particularly strong IP chargeability anomaly, located 500 meters south of the primary Bravo gravity anomaly, will also be scrutinized to determine if it represents a continuation of the La Romana mineralization sequence.

Results from the first phase of the drill program are anticipated to be disclosed as they become available. Depending on the outcomes, there may be a potential expansion of the ongoing multi-target drilling program, which totals 7,000 meters within the Escacena project.

Overview of the Escacena Project

The Escacena project encompasses an extensive and contiguous land package of 5,760 hectares fully controlled by Pan Global, situated to the east of the Iberian Pyrite Belt. The strategic location near the operating Riotinto mine and adjacent to the old Aznalcóllar and Los Frailes mines, where Grupo México is in the final stages of obtaining permits for a new mining construction, adds to the significance of the project.

Within the project area, notable discoveries such as the La Romana copper-tin-silver site and the Cañada Honda copper-gold site are complemented by other promising targets, including Bravo, Barbacena, La Pantoja, El Pozo, Romana Norte, San Pablo, Zarcita, Hornitos, La Jarosa, Romana Deep, and Cortijo. The long-term objective is to delineate 100 million tonnes of copper resources from this cluster of deposits, mirroring the output from other mining operations in the Iberian Pyrite Belt.

About Pan Global Resources

Pan Global Resources Inc. is actively pursuing copper-rich mineral deposits, driven by robust supply and demand fundamentals coupled with long-term price outlooks for copper as a critical metal for global electrification and energy transition. The company’s flagship Escacena project is located within the prolific Iberian Pyrite Belt in southern Spain, where favorable permitting history, excellent infrastructures, and mining expertise define a top-tier and low-risk jurisdiction for mining investments.

The Pan Global team is composed of highly skilled professionals specializing in exploration, discovery, development, and mining operations, all committed to conducting their work safely and with respect for the environment and local communities. The company is also a member of the United Nations Global Compact, operating in alignment with its principles.

Qualified Person

Álvaro Merino, Vice President of Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this press release. It should be noted that Mr. Merino is not independent of the company.

For further information, visit Pan Global Resources’ website.

Forward-Looking Statements

Any statements in this release that are not purely historical are forward-looking statements, including statements regarding beliefs, plans, expectations, or intentions concerning the future. It is important to recognize that the company’s execution and actual results may differ significantly from these forecasts. The team at Pan Global believes that the expectations reflected in statements made within this release are reasonable, yet it cannot guarantee their accuracy. Risks and uncertainties exist, including economic, competitive, governmental, environmental, and technological factors that may impact the company’s operations, markets, products, and prices.