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Pan Global Resources Announces a $7.2 Million Private Placement with Alpayana

On April 24, 2026, Pan Global Resources Inc. (TSX-V: PGZ; OTCQB: PGZFF; FRA: 2EU) disclosed a significant move to bolster its projects through a private placement, securing a total of $7.2 million (CAD) from strategic investor, Alpayana. This financial infusion will be used to accelerate exploration and drilling efforts in Spain, specifically at projects Escacena and Cármenes, enhancing the company's resource base.

Key Details of the Placement

In the private placement, Alpayana will purchase 45 million common shares at a price of 0.16 CAD per share. This investment will result in Alpayana owning approximately 19.9% of Pan Global's outstanding shares, signaling a strong strategic partnership between the two companies. The Board has also decided not to proceed with the previously announced extension of certain warrants, urging current warrant holders to exercise their options before the expiration on May 6, 2026.

A Boost for Exploration Initiatives

Tim Moody, President and CEO of Pan Global, expressed his satisfaction with Alpayana's commitment to increasing its stake. Alpayana is a well-established Peruvian mining company with operational mining sites across Latin America, signaling confidence in the potential of Pan Global’s projects, particularly in Spain. The financing will allow Pan Global to double its current drilling program to 20,000 meters, which is aimed at expanding the existing resource base at their Cu-Au projects and exploring new indicators in the coming months.

Capital Allocation Breakdown

The allocated funds will specifically focus on:

1. Expanding Drilling at Cañada Honda:
The site has shown significant mineral potential with pre-resource estimates already published. This includes a promise of increased copper and gold yields, based on previous drilling results and indicative geophysical data.

2. Enhanced Exploration at Escacena:
Exploration efforts will extend into the highly promising Escacena Sur area. This includes a planned airborne geophysical study followed by an intensive drilling program, with applications for access and permits currently underway, expected to be finalized later this year.

3. Follow-up Drilling at Cármenes:
The focus will be on expanding the Providencia target and testing additional promising sites identified in recent exploration phases.

4. General Corporate Purposes:
The remainder of the funds will support the Company's operational needs and strategies.

About Alpayana

Alpayana's financial muscles come from its 39 years of mining experience across Peru and Mexico. This family-operated group emphasizes sustainable mining practices, prioritizing employee welfare and environmental protection. They also contribute to local communities by providing potable water to over 2.5 million people through their existing mining operations.

Overview of Escacena and Cármenes Projects

Escacena Project

Located in the Iberian Pyrite Belt, Escacena encompasses over 13,000 hectares with fully-controlled mineral rights. Close to existing mines like Riotinto, the project showcases significant mineralization with copper, tin, and silver resources identified at La Romana, along with promising exploratory targets at Cañada Honda.

Cármenes Project

Situated in the Rio Narcea Gold Belt in northern Spain, the Cármenes project spans 5,653 hectares and indicates a rich potential for discovering copper, nickel, cobalt, and gold deposits within hydrothermal breccia formations.

Through this private placement, Pan Global is poised for significant growth in the coming years, not only enhancing its resource baseload but positioning itself strategically within the global market for critical metals, particularly as demand escalates for sustainable resources in energy and technology sectors.

Future Outlook

The private placement is pending approval from the Toronto Stock Exchange (TSX Venture Exchange). This capital investment by Alpayana not only reinforces their commitment to Pan Global’s projects but also highlights the increasing importance of mining in the transitional global economy focused on clean energy and sustainable practices.

Overall, this relationship marks a new chapter for Pan Global Resources as it embarks on an ambitious exploration strategy designed to maximize the potential of its Iberian projects over the next year.