#Canada #Vancouver #Pan Global #Los Frailes #Grupo Mexico

Pan Global Celebrates Mining Milestone with the Approval of 'Los Frailes'

Pan Global Resources Inc., a prominent player in the minerals exploration field, recently celebrated the approval from the Junta de Andalucía regarding the restoration plan and exploitation concession for the 'Los Frailes' mining project, which is owned by Grupo Mexico. This strategic development marks a significant step in Pan Global's ongoing endeavors in the mining sector.

The 'Los Frailes' project, located adjacent to Pan Global's own Escacena Project in southern Spain, specializes in the extraction of zinc, copper, lead, and silver. The approval underscores Andalucía's excellent regulatory environment, positioning it as a premier global mining jurisdiction and promising substantial investments and job creation in the region.

Tim Moody, the President and CEO of Pan Global, expressed enthusiasm regarding this achievement. He emphasized the strategic location of Escacena, which is wholly owned by Pan Global, and its proximity to the Los Frailes mine. "This milestone for our neighboring mine highlights the strength of the regulatory framework in Andalucía. With our discovery of copper at La Romana, located just west of the Los Frailes mine, Pan Global is well-positioned to benefit from increased regional investment, infrastructure improvements, and other synergies,” stated Moody. The Los Frailes project is expected to enter an important development phase, with an anticipated lifespan of 20 years, and will feature a processing plant for zinc, lead, and copper concentrates.

The La Romana site is another promising asset, showcasing a copper-tin-silver deposit near the surface, which presents favorable metallurgy for potential open-pit development. This aligns perfectly with Pan Global’s strategy to advance a significant, sustainable, and low-cost copper project in a top-tier mining district. Notably, the La Romana deposit remains open in several areas, while many other targets within the Escacena Project area represent significant growth potential. A multi-target drilling program is currently in progress in Escacena, with drilling expected to resume shortly at the priority Bravo prospect, following a brief hiatus for wheat harvest. Also, the next phase of drilling at La Romana, which is focused on extending high-grade mineralization, is nearing completion.

In the coming weeks, results from the drilling program taking place at the Cármenes Project in northern Spain will be anticipated. Early reports have already indicated high-grade gold mineralization near the surface from the company's first drilling endeavor in this area, which was noted in a press release earlier this month.

Pan Global Resources actively seeks rich copper deposits, along with gold and other metals, in its exploration efforts. Given copper’s critical role in global electrification and energy transition, the long-term outlook for copper remains robust with compelling supply-demand fundamentals. Simultaneously, gold prices are reaching record highs, underscoring valuable opportunities across commodities.

The Escacena Project, the flagship of the company, is meticulously situated in the Iberian Pyrite Belt in southern Spain. This locale benefits from a favorable permitting history, excellent infrastructure, skilled mining professionals, and the European Commission's classification of copper as a Strategic Raw Material, collectively defining it as a low-risk, top-tier mining investment jurisdiction. Additionally, the company’s second project, Cármenes, is situated in a historically rich mining area in northern Spain, also with excellent infrastructure.

The Pan Global team boasts a wealth of talent in exploration, discovery, development, and mining operations, committed to conducting business safely and with respect for the environment and the communities in which they operate. The company proudly participates in the United Nations Global Compact, aligning its operations with its core principles. For more information, visit www.panglobalresources.com.

Forward-Looking Statements
Certain statements in this press release are forward-looking and involve substantial risks and uncertainties. Accordingly, actual results may differ materially from those anticipated in forward-looking statements. Readers are encouraged to consult the company’s management report on its audited financial statements for risk information. Pan Global intends to update this forward-looking information as required by applicable securities laws. Neither the TSX Venture Exchange nor its regulatory service provider accepts responsibility for the adequacy or accuracy of this release.