Pan Global drills five m of 8.93 g/t Au at Carmenes

Executive Summary

• Pan Global reported a high‑grade near‑surface gold intercept of 34 m @ 3.01 g/t Au, including 5 m @ 8.93 g/t Au and a peak of 17.6 g/t Au over 1 m, from hole PVD06 at the Carmenes project in northern Spain.
• The results expand gold mineralization east of historic mine workings, confirming the breccia‑alteration zonation model and indicating an open‑pit potential both laterally and at depth.
• Ongoing drilling continues at the flagship Escacena project; resource estimate for La Romana copper‑tin‑silver deposit remains on track for a September 2025 delivery.

Key Details

• Drill holes reported: PVD05 and PVD06 (assayed); PVD07 pending.
• Hole PVD06 intercepts:
• 34.0 m @ 3.01 g/t Au from 131.0 m depth (downhole).
• 5.0 m @ 8.93 g/t Au within the above interval.
• 2.0 m @ 15.18 g/t Au, 1.23 g/t Pt + Pd from 133.0 m.
• 4.7 m @ 5.65 g/t Au from 143.0 m.
• 2.0 m @ 7.15 g/t Au from 161.0 m.
• Highest grade: 17.6 g/t Au over 1 m at 134.0 m.
• Hole PVD05: intersected dolomite breccia in outer halo; no significant gold intercepts but supports alteration model.
• Pending assay: Hole PVD07 (drilled 50 m east of PVD06) testing beneath a trench with 20 m @ 1.7 g/t Au.
• Geological context: Gold hosted in red hematitic, hydrothermal‑altered brecciated carbonates with disseminated sulfides; mineralization extends up to surface and is open east, west, and depth.
• Escacena project update:
• Drilling ongoing on La Romana copper‑tin‑silver deposit; initial results pending for Hornitos, Plomillos, and Bravo targets.
• Four Bravo holes drilled (BRD01, BRD02, BRD04 completed; three abandoned due to ground conditions). Sulfide mineralization logged, including sphalerite and galena in BRD04.
• Gravity and IP chargeability anomalies not yet intersected; potential for volcanogenic massive sulfide discovery remains.
• Resource estimate for La Romana scheduled to commence September 2025.

Notable Quotes

• “The new results expand the near‑surface breccia‑hosted gold mineralization east of the historical mine workings and include the highest‑grade gold intercept at Providencia to date.” – Tim Moody, President & CEO, Pan Global Resources Inc.
• “Providencia represents a compelling discovery opportunity… The drill results reinforce our breccia alteration zonation model for targeting higher‑grade mineralization.” – Tim Moody

All technical information reviewed and approved by Alvaro Merino, VP Exploration (NI 43‑101 qualified person).