Drilling Continues To Expand Near Surface Copper-Tin Mineralization At La Romana

VANCOUVER - Pan Global Resources Inc. announced new drill results and the expansion of the La Romana mineralized target area at the Escacena Project in the Iberian Pyrite Belt, southern Spain. Exploration is also in progress on the adjoining Al Andaluz permit area within the Escacena Project where drilling has commenced at the La Jarosa target.

Tim Moody, President and CEO, said, "The latest results further confirm that high-grade copper mineralization continues near to surface at La Romana, with recent drilling returning more than 2% Cu over 10.1m from less than 10m below surface. The new drill results also extend the copper and tin mineralization to the west and show that the mineralization is wide open in several directions. It should also be noted that further results are also awaited for more than 20 drill holes.

These latest results are very encouraging and continue to expand the near surface high-grade copper/tin target at La Romana, the first of several gravity targets on the Escacena Project. Following the recent grant of the Al Andaluz permit we have rapidly mobilized a drill rig and are excited to have commenced drilling the first hole at the La Jarosa copper target, some 4 km from La Romana. An extensive exploration program is also now in progress, including gravity and surface geochemistry surveys, and a high-resolution airborne electromagnetic survey due to begin within the next two-weeks. Once data is available from this work the Company plans to commence a substantial follow up drill program throughout 2022."

The 2022 plan includes up to 20,000m of drilling at the Escacena Project (approx. 40 to 60 holes), most of which will test targets generated from the regional surveys. A significant follow-up drill program (meterage to be determined) is also expected in the second half of 2022.

Drilling has commenced on the La Jarosa target in Al Andaluz designed to follow-up the historic Exxon drill hole PJ2 1985 which intersected 9.5m at 1.42% Cu. A second drill hole is also planned to test dip extensions to the mineralization. The Exxon drill hole was never followed up and the drill core is no longer available to verify the results. The Company makes no representation as to the reliability or accuracy of the historical Exxon drill results.