#Spain #Pan Global #Andalusia #Escacena Project #mineral resources

Overview of Pan Global Resources' Escacena Project

On December 31, 2025, Pan Global Resources Inc. shared the initial mineral resource estimates for its Escacena Project, which is located in the Iberian Pyrite Belt of southern Spain. This announcement signifies a crucial milestone for the company and sets the stage for future technical and economic assessments. The project comprises two key deposits: La Romana and Cañada Honda, which show substantial mineralization potential.

Initial Resource Estimates: Key Highlights

La Romana Deposit (Cu-Sn-Ag)

• - Measured and Indicated Resources: 32.4 million tonnes, containing 119.5 thousand tonnes of copper, 8.8 thousand tonnes of tin, and 1.7 million ounces of silver. The average grades are 0.37% Cu, 270 ppm Sn, and 1.7 g/t Ag (0.44% CuEq).
• - Inferred Resources: 4.0 million tonnes, comprising 15.8 thousand tonnes of copper, 0.3 thousand tonnes of tin, and 0.2 million ounces of silver, with average grades of 0.40% Cu, 71 ppm Sn, and 1.4 g/t Ag (0.42% CuEq).

This mineralization is predominantly contained within a conceptual open-pit shell, indicating a potential for surface mining.

Cañada Honda Deposit (Au-Cu-Ag)

• - Inferred Resources: 5.0 million tonnes, containing 104 thousand ounces of gold, 6.8 thousand tonnes of copper, and 0.2 million ounces of silver. The average grades stand at 0.65 g/t Au, 0.14% Cu, and 1.2 g/t Ag (0.74% AuEq).

Additional unclassified mineralization has been identified, showcasing a promising outlook for further resource delineation in the area. Notably, both deposits remain open for further extension in depth and dimension, indicating a significant resource expansion opportunity.

Significance for Pan Global Resources

According to Tim Moody, the President and CEO of Pan Global, several years of diligent exploration in the Escacena Project have resulted in multiple discoveries, particularly in La Romana and Cañada Honda. The high ratio of measured resources and the potential for open-pit mining in La Romana affirm the strong continuity of the mineral system. Furthermore, the initial resources identified at Cañada Honda, located approximately 4 km north of La Romana, suggest the presence of another distinct mineralized system with favorable gold, copper, and silver content.

Moody emphasized that advanced metallurgical studies conducted at La Romana validate the mineralization's metallurgical characteristics, suggesting the potential for producing concentrates with higher copper grades and minimal undesirable elements. With both deposits open for expansion and an extensive exploration target portfolio situated within a well-established mining district, the Escacena Project presents a solid technical foundation for the next exploration and technical assessment phases.

Future Prospects

Pan Global aims to provide further insights through an upcoming investor webinar and a live Q&A session discussing the mineral resource estimates. Noteworthy is that the mineral resources reported do not include proven reserves and remain unevaluated for economic viability. The company recognizes that inferred resources carry a greater degree of uncertainty regarding their existence and economic viability.

In conclusion, the Escacena Project represents a significant advancement for Pan Global Resources in the Iberian Pyrite Belt. As the company continues to explore and evaluate its mineral potential, the positive resource estimates herald a promising future for mining operations in this historically rich mining region.