#Spain #Pan Global #GOLD DISCOVERY #Cármenes #Cármenes Project

Significant Discovery at the Cármenes Project in Northern Spain

Vancouver, Canada - January 27, 2025 — Pan Global Resources Inc. (TSXV: PGZ; OTCQX: PGZFF; FRA: 2EU) has made impressive strides in its exploration at the Cármenes project, situated in northern Spain. The latest soil and rock sampling results unveil an extraordinary presence of gold and copper, indicating the project's vast untapped mineral potential.

Soil Sampling Results

The recent soil sampling conducted within the Providencia target area, part of the Cármenes project, confirmed a mineralized footprint significantly larger than previously understood. Noteworthy findings include:

• - Gold concentrations reaching 24.3 grams per tonne (g/t)
• - Copper levels hitting 16.2%
• - Other metals detected included 1.3% Nickel (Ni), 48.7 g/t Silver (Ag), and 1.6% Lead (Pb) among others.

The Providencia site revealed a 250m x 150m area of high-grade gold and copper anomalies, showcasing the substantial potential for further exploration and exploitation. Specific samples reported an impressive average of 5.8 g/t Gold from 49 samples, further solidifying the region's gold credentials.

Background on the Cármenes Project

Located approximately 55 km north of León, Cármenes comprises five research permits covering 5,653 hectares known for rich mineralization of copper, nickel, cobalt, and gold. Historically, the area hosted profitable operations until the 1930s, predominantly extracting copper and cobalt.

Pan Global's ongoing efforts aim to tap into this historical mine's reserves and discover more of these 'breccia pipe' type mineralizations, which can extend vertically over 1 km, suggesting a truly extensive network of rich ores beneath.

Future Exploration Plans

Following the enticing initial results, Pan Global is setting its sights on further exploration phases, including:

• - Sampling in trenches and channels designed to uncover additional historical mining tunnels with potential mineralization.
• - A drill program scheduled to commence shortly, aiming to test mineralization continuity beneath the old underground workings.
• - Geophysical surveys, including Heli-HTEM (Helicopter Transient Electro-Magnetic), will support the identification of new drill targets.

Pan Global President and CEO, Tim Moody, expressed optimism regarding the results, stating, "The high-grade copper, gold, and other metal results in Cármenes are very encouraging. The soil chemistry and surface rock sampling indicate a significantly larger footprint of mineralization than previously known." He added that the potential for discovering new breccia pipes around Providencia remains high.

Investment Community Engagement

Pan Global is keen to keep its investors informed, organizing a webcast on January 30, to discuss the implications of these results and the upcoming drilling campaigns. Interested parties are encouraged to register for this event to gain insights directly from the leadership team.

In conclusion, the Cármenes Project not only holds historical significance but is rapidly emerging as a major player in modern mining discoveries. As exploration efforts ramp up, stakeholders and investors alike will be closely watching how these initial findings evolve into substantial mining operations.

For More Information

For updates, please visit Pan Global Resources or contact:
Jason Mercier
Vice President of Communication and Investor Relations
Email: [email protected]
Phone: +1-236-886-9518

Stay tuned as Pan Global positions itself at the forefront of mineral exploration in Spain, leveraging its promising discoveries in the Cármenes project.