#Spain #Pan Global #GOLD DISCOVERY #Cármenes

Pan Global Reports Significant Gold Find at Cármenes Project

Pan Global Resources Inc. is excited to announce a remarkable finding at its Cármenes project in northern Spain. Recent sampling has indicated the presence of high-grade gold, with a notable result of 20.2 grams per tonne (g/t) over a 5-meter stretch. This discovery suggests significantly richer mineralization depths beyond previously known mining works at the historic Providencia mining site.

1. Breakdown of Discoveries
The innovative saw-cut sampling technique has proven effective in revealing not just surface gold concentrations, but has confirmed a substantially larger mineralized system underground. Recent underground mapping indicates a major expansion of the mineralized area at the 1,438-meter level, demonstrating that the system widens and extends deeper as drilling progresses.

2. Ongoing Exploration and Drilling
In light of these findings, Pan Global has extended its drilling program to include eight additional drill holes, which are anticipated to cover about 1,200 meters. The intent is to explore possible extensions and structural controls of copper-cobalt-nickel-sulfide mineralization across the area.

3. Sampling and Results
The surface sampling has validated previous results, which had showcased an impressive 15 g/t Au over 6 meters, demonstrating an upward trajectory of gold presence at Cármenes. Notably, new analyses from Providencia have shown exciting high-grade results, including 51.2 g/t of gold alongside 1.9 g/t of platinum and palladium over a 1-meter sub-sample. This new work sits just a meter upstream of prior sampling lines and is located around 70 meters east of the projected surface footprint of the underground workings.


Average:
5.0 meters averaged to an incredible 20.18 g/t of gold, 0.52 g/t of platinum, and 0.36 g/t of palladium.
Note: The lengths indicated are sampled intervals; actual widths remain unknown.
Sampling is selective and may not represent overall mineralization across the site.

4. District-Wide Exploration Efforts
Beyond just Providencia, Pan Global is engaged in extensive district-wide exploration aimed at assessing over 25 priority targets in the Cármenes region. Geochemical soil assessments are ongoing, revealing significant extensions of the Providencia zone, stretching up to 300 meters west of previous samples. Further exploration is also taking place at the historical Profunda mine located about one kilometer south of Providencia, which presents additional exciting opportunities.

5. About the Cármenes Project
The Cármenes site, located in the promising southeastern extension of the Rio Narcea gold belt, spans 5,653 hectares. It encompasses notable historical mines known for producing copper, cobalt, and nickel concentrates dating back to the 1930s. The potential for new mineralization formations is evident through various historic mining operations scattered across the region.

6. Future Aspirations
Pan Global Resources is focused on the fruitful development of mineral deposits rich in copper as well as gold. Given the escalating global demand for these resources, particularly copper for electrification and sustainable energy transitions, the company's prospects appear bright.

For more detailed updates and insights about Pan Global Resources and its projects, the company remains committed to transparency, safety, and environmental stewardship, ensuring strong interaction with local communities and ecosystems around their sites.