Pan Global Intersects 83 Meters of 1.74 g/t Gold, Expanding New Gold Zone at Carmenes Project, Spain

Pan Global Resources Inc. (PGZ) released results for drillhole PVD16, part of the Phase 3 campaign at the Providencia target within its 100%-owned Cármenes Project in northern Spain. The hole returned a headline intercept of 83 meters averaging 1.74 g/t Au from 9.0 m to 92.0 m downhole. This interval also carries accessory values of 0.7 g/t Ag, 85 ppm Cu, 129 ppm Ni, and 110 ppm Co.

Reported higher-grade sub-intervals include: - 9.0 m at 4.88 g/t Au from 9.0 m. - 6.0 m at 7.00 g/t Au from 12.0 m. - 1.5 m at 1.65 g/t Au from 19.5 m. - 2.0 m at 12.57 g/t Au from 32.0 m. - 2.0 m at 5.88 g/t Au from 46.0 m. - 12.0 m at 2.65 g/t Au from 55.0 m, including 0.5 m at 32.20 g/t Au. - 12.0 m at 1.42 g/t Au from 71.0 m. - 2.0 m at 5.01 g/t Au from 90.0 m.

PGE values include 9.0 m at 0.45 g/t Pt+Pd from 9.0 m and a 0.5 m interval at 2.2 g/t Pt+Pd from 59.7 m. A 1.5 m interval of missing core from 18.0 m to 19.5 m was assigned 0.00 g/t Au in the length-weighted average. The company states the result confirms the continuation and expansion of gold beyond PVD15's 15 m at 3.9 g/t Au, and that mineralization remains open laterally and at depth.

Pan Global Resources Inc. (PGZ) is a pre-revenue junior explorer with an existing resource base at Escacena, while Cármenes remains an early-stage exploration project. At a market capitalization of roughly C$65 million, the company’s equity is sensitive to scale signals from the Cármenes gold system.

The market’s prior expectations were anchored by the PVD15 intercept, released on 2026-09-09, which reported 15 m at 3.90 g/t Au from surface. The stock did not re-rate on that release, trading around C$0.17 before and C$0.16 after. Broader price action shows the stock peaked around C$0.24 in May 2026 and round-tripped to C$0.16 by mid-September 2026, suggesting the market has not embedded strong bullish expectations for the next Providencia result.

Against this backdrop, the PVD16 result represents a positive delta in overall gram-metre scale, reporting 144 gram-metres compared to 58.5 gram-metres for PVD15. The result materially widens the apparent surface-near gold system and supports the case that Providencia could host bulk-tonnage gold with internal higher-grade zones.

However, the result is based on one core-length hole with unknown true width, and four holes remain pending. It is not yet a resource or a district-opening intercept, and the grade is lower than the prior best hole.

• PVD15: 15 m at 3.90 g/t Au from surface (released 2026-09-09)
• PVD16: 144 gram-metres (vs. 58.5 gram-metres for PVD15)

Pan Global Resources Inc. is a Canadian junior exploration company listed on the TSXV that holds two Spanish exploration projects. The Escacena Project, located in the Iberian Pyrite Belt of southern Spain, serves as the company’s flagship asset and includes the La Romana copper-tin-silver deposit and the Cañada Honda gold-copper deposit. The Cármenes Project is situated in the Rio Narcea Gold Belt in northern Spain, focusing on the Providencia gold target, along with additional Profunda and regional targets.

Previously disclosed mineral resource estimates for the Escacena Project include the La Romana Measured & Indicated category of 32.4 Mt at 0.37% Cu, 270 ppm Sn and 1.68 g/t Ag, for 0.44% CuEq. The La Romana Inferred resource stands at 4.0 Mt at 0.40% Cu, 71 ppm Sn and 1.37 g/t Ag. The Cañada Honda Inferred resource is 5.0 Mt at 0.65 g/t Au, 0.14% Cu and 1.17 g/t Ag. The Cármenes Project currently has no mineral resource estimate.

In terms of financial context from prior periods, the company reported a Q1-2027 net loss of about C$1.9 million and a fiscal 2026 net loss of about C$8.4 million. Cash holdings were C$4.93 million as of April 30, 2026. The company closed a C$7.2 million private placement with strategic investor Alpayana in June 2026 and reported no debt. The share count has grown materially through the private placement and warrants.