Pan Global Resources Inc. announced positive assay results for two new diamond drill holes at the Cañada Honda target at the Company's 100%-owned Escacena Project in the Iberian Pyrite Belt, southern Spain. Cañada 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. Cañada 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. Holes CHD03 and CHD04, drilled on the same section, show a vector down-dip with increasing gold and copper within a continuous zone of massive sulphides and sulphide-stockwork mineralization, wide open at depth and along strike; Grades up to 5.3% Cu over 0.6m, and up to 5.2g/t Au over 1m intervals; Potential for scale is indicated by the proximity to a large untested gravity anomaly and adjacent DHEM conductor anomaly; CHD04 intersected: 1m at 3.2g/t Au and 2.3g/t Ag from 85m, 5m at 1.1g/t Au and 1.7g/t Ag from 94m, including, 1m at 5.1g/t Au and 1.6g/t Ag, 1m at 0.3% Cu, 1.1g/t Au and 1.0g/t Ag from 107m, 13m at 0.5% Cu, 0.8g/t Au and 2.7g/t Ag from 167m, including, 6.2m at 0.9% Cu, 1.5g/t Au and 3.8g/t Ag, 5m at 0.5% Cu, 2.7g/t Au and 4.5g/t Ag, 0.6m at 5.3% Cu, 0.5g/t Au and 10.8g/t Ag, CHD03 intersected: 2m at 1.4g/t Au from 58m, 8m at 1.0 g/t Au from 66m, 14m at 0.4% Cu, 0.3g/t Au and 2.1g/t Ag from 141m, including, 6m at 0.9% Cu, 0.6g/t Au and 4.2g/t Ag, 3m at 1.4% Cu, 0.8g/t Au and 6.6g/t Ag, These are the highest gold grades detected in the Escacena Project area to date, and a potentially significant addition to the copper equivalent grade; Downhole EM results indicate the strongest copper-gold mineralization in drill hole CHD04 coincides with the edge of a large untested 190m x 100m DHEM conductor plate anomaly, and potential indicator of more significant sulphide mineralization to the East and down-dip.