#Canada #Vancouver #Pan Global #Escacena #Cármenes

Pan Global Resources Secures $5.6 Million in Private Placement

On January 22, 2026, Pan Global Resources Inc. proudly announced the completion of a private placement worth $5.6 million (CAD), facilitated without the involvement of intermediaries. This initiative involved issuing 35 million common shares at a price of $0.16 CAD per share, marking a significant milestone for the company, which is listed on the TSX Venture Exchange under the ticker PGZ. The gross proceeds from this private placement are set to be directed towards advancing exploration and drilling programs in their Escacena and Cármenes projects, located in southern Spain.

The reach of this financing will also extend to a recently acquired prospect, known as Escacena South, which holds promising potential. Tim Moody, the CEO, expressed enthusiasm about the new strategic investor coming on board, highlighting their reputable background in mining. "This investment not only validates our exploration portfolio and operational team in Spain but also boosts our capacity to advance our Escacena and Cármenes projects in 2026," said Moody.

Escacena Project: Exploration Potential

The Escacena project, along with the recently expanded Escacena South area, now comprises a vast 10,000 hectares of contiguous mining rights in the highly mineral-rich Iberian Pyrite Belt. The project area was significantly extended in September 2025, when additional mining rights for Flores, Rosario, and Girasoles were awarded. Furthermore, Pan Global has submitted four additional exploration permit applications covering an extra 3,888 hectares, which will elevate their total holdings in the Iberian Pyrite Belt to over 13,900 hectares.

Strategically located near the operational Riotinto mine and the historic mines of Aznalcóllar and Los Frailes, this project holds exceptional promise. Particularly noteworthy is the La Romana copper-tin-silver deposit and the discoveries at Cañada Honda, alongside numerous other prospective targets.

Cármenes Project: Historical Significance and Future Prospects

In the north of Spain, the Cármenes project spans 5,653 hectares in the gold belt of the Rio Narcea, located approximately 55 kilometers north of León. This area is known for multiple mineralization bodies formed within brecciated carbonates, revealing the potential for copper, nickel, cobalt, and gold. Among the historical mining sites present in the region are Profunda and Providencia, where mining operations ceased in the 1930s, and which previously yielded concentrates of copper, cobalt, and nickel. Recent drilling initiatives on the Providencia target have even led to new gold discoveries.

Strategic Importance of Copper and Gold

Pan Global Resources is keenly aware of the current dynamics surrounding copper and gold, both of which are critical for global electrification and ongoing energy transition efforts. Copper, for instance, is experiencing strong supply-demand fundamentals, promising a favorable long-term price outlook.

The firm sees its leading project in Escacena as a vital asset within the Iberian Pyrite Belt, which not only benefits from historical mining precedence but also offers excellent infrastructure and professional expertise, all while maintaining strong regulatory support from the European Commission for strategic raw materials like copper. Furthermore, their second project in Cármenes is nestled in a historically rich mining district equipped with excellent infrastructure.

Pan Global’s team comprises seasoned professionals in exploration, discovery, development, and mining operations. They are resolutely committed to conducting their business with utmost respect for safety, the environment, and the communities they work with. The company also aligns with the United Nations Global Compact, adhering to its principles.

For the most current updates on Pan Global Resources, stakeholders are encouraged to check their corporate presentation on Curation Connect and utilize AI-generated responses for inquiries through their dedicated platform.

Outlook and Investor Information

This private placement is subject to final approval from the TSX Venture Exchange. The shares issued are not registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the U.S. unless appropriately exempted. This press release does not constitute an offer to sell or a solicitation to buy securities in any jurisdiction where it is illegal to do so. Interested investors should consider consulting the risk factors outlined in the company’s MD&A documentation filed with British Columbia’s securities regulator for a complete understanding of the associated risks.

Pan Global is committed to transparency and proactive engagement with their investors, and they welcome queries through the provided contact details for further information about their ongoing developments.