Pan Global arranges $3-million private placement

Mr. Tim Moody reports PAN GLOBAL ANNOUNCES PRIVATE PLACEMENT FINANCING Pan Global Resources Inc. is arranging a non-brokered private placement financing of up to 18.75 million common shares of the company at a price of 16 cents per share for aggregate gross proceeds of up to $3-million. "The award of the mineral rights to Escacena South increased Pan Global's property position on the Iberian pyrite belt by 74 per cent to over 10,000 hectares. The target-rich expansion to the Escacena project offers an exciting opportunity for an accelerated exploration program. The plan is to build on the discoveries already made at the La Romana and Canada Honda deposits to achieve our copper equivalent resource target of 100 million tonnes," said Tim Moody, president and chief executive officer. "An expanded exploration campaign and drill program at the high-grade Providencia gold discovery in northern Spain is also planned to make additional discoveries and add potential mineral resources." The net proceeds of the offering will be used to advance the company's exploration and resource definition programs in Spain and for general corporate purposes. The offering is subject to customary closing conditions and TSX Venture Exchange acceptance. The common shares issued pursuant to this private placement will be subject to a four-month hold period and will be subject to U.S. resale restrictions under U.S. securities laws. Finders' fees may be payable on a portion of the offering. About Pan Global Resources Inc. Pan Global is actively exploring for copper-rich mineral deposits along with gold and other metals. Copper has compelling supply-demand fundamentals and an outlook for strong long-term prices as a critical metal for global electrification and energy transition. Gold is also attracting record prices. The company's flagship Escacena project is located in the prolific Iberian pyrite belt, a Tier 1 mining jurisdiction in southern Spain, with a favourable permitting regime, excellent infrastructure, and abundant mining and professional expertise. The European Commission has identified copper as a strategic raw material. The company's second project, Carmenes in northern Spain, is also an area with a long mining history and excellent infrastructure. The Pan Global team has a proven talent in exploration, discovery, development and mine operations, and is committed to operating safely and with utmost respect for the environment and all its stakeholders. The company is a member, and operates under the principles, of the United Nations Global Compact. Qualified person Alvaro Merino, vice-president, exploration, for Pan Global Resources, a qualified person as defined by National Instrument 43-101, has approved the scientific and technical information for this media release. Mr. Merino is not independent of the company. We seek Safe Harbor.