High Gold Grades And Copper Mineralization Near Surface At Honda Target

VANCOUVER - Pan Global Resources Inc. reported on results for two new diamond drill holes at the Canada Honda target at the Escacena Project in the Iberian Pyrite Belt, southern Spain. Canada Honda is one of more than 14 gravity anomalies in the Escacena Project, which includes the copper-tin-silver discovery at the La Romana target.

"The new drill hole assay results have significantly enhanced the potential for a new copper-gold discovery at the Canada Honda target. The results indicate an upper gold zone and deeper zone of copper-gold mineralization at the edge of a large untested DHEM conductor anomaly. The DHEM conductor and adjacent gravity anomaly expands the size potential at Canada Honda. These are exciting results, including the highest gold grades that we have encountered at the Escacena Project, and further highlights the prospectivity of this land package and the many other targets not yet tested," said Tim Moody, President & CEO.

Excellent progress is also being made at the Romana West target with two teams collecting gravity data, IP surveying, geochemical sampling and mapping underway concurrently, and drilling anticipated to commence shortly.”

Canada Honda is now a high-priority target due to subsequent down hole electromagnetic (DHEM) surveys in both drill holes that show a large approximately 190m x 100m untested conductor anomaly with potential for stronger sulphide mineralization to the east and down-dip. Drilling has commenced on the first of three follow-up drill holes based on this new information.