#Spain #Pan Global #Andalusia #Los Frailes #Grupo Mexico

Pan Global Welcomes Approval of Adjacent Los Frailes Mine by Grupo Mexico

Pan Global Resources Inc. is excited to announce that the Andalusian government has granted the remediation plan and mining permit for the Minera Los Frailes project. This mine is located adjacent to the fully owned Escacena flagship project of Pan Global in southern Spain.

Grupo Mexico, which owns 97.31% of Minera Los Frailes, is noteworthy for being the fourth largest copper producer in the world by volume. This recent approval not only validates Andalusia’s status as a leading global mining locale but is also set to deliver significant investments and job opportunities in the region.

Tim Moody, the President and CEO of Pan Global, commented on this milestone, emphasizing the advantageous approval climate in Andalusia, and underscoring the strategic location of their Escacena project. The proximity of Pan Global’s La Romana copper discovery—situated immediately west of the planned Los Frailes mine—positions the company uniquely for significant regional investments, infrastructure enhancements, and other synergies.

Los Frailes is expected to be a major new mining operation, projected to last around 20 years, producing zinc, lead, and copper concentrates. The La Romana site is a near-surface copper-tin-silver deposit recognized for its favorable metallurgical properties, which is ideal for potential open-pit operations. This supports Pan Global's strategy to advance a significant, cost-effective, and sustainable copper project in a premier mining region.

Moreover, the mineralization at La Romana has room for expansion, and numerous other targets within the Escacena project area offer significant upside potential. The ongoing drilling program in Escacena is set to resume at the primary Bravo target following a brief hiatus due to the local wheat harvest, with a new round of step-out drill holes being finalized in La Romana to explore higher-grade extensions of the mineralization.

In addition, Pan Global is expecting results from its ongoing drilling program at the Cármenes project in northern Spain, where early drilling has reported high-grade gold mineralization near surface depths.

About Pan Global Resources

Pan Global Resources Inc. is actively engaged in exploring for copper mineral deposits along with gold and other metals. The company recognizes favorable fundamentals for both supply and demand for copper, a metal critical for global electrification, and anticipates high long-term prices due to its essential role in energy transition efforts.

Pan Global’s flagship project, the Escacena project, is positioned in the resource-rich Pyrite Belt of the Iberian Peninsula in southern Spain. It boasts a robust track record of approvals, excellent infrastructure, and mining expertise, combined with the European Commission's designation of copper as a strategic raw material, thus establishing a low-risk regulatory environment for mining investments.

The company's second project, Cármenes located in northern Spain, is also part of a historically significant mining area featuring excellent infrastructure. The talented team at Pan Global comprises seasoned experts in exploration, discovery, development, and mining operations, all committed to safe, environmentally conscious practices for the benefit of their partner communities. Moreover, the company is a member of the United Nations Global Compact and aligns its operations with its principles.

For more information, visit www.panglobalresources.com.

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For additional information, contact Jason Mercier, Vice President of Investor Relations and Communications, at jason@panglobalresources.com or call +1-236-886-9518.