Pan Global Resources Inc. announced positive results for the first of three follow-up drill holes at the Canada Honda target at the Company's 100%-owned Escacena Project in the Iberian Pyrite Belt, southern Spain. Higher-grade copper mineralization continues to be delineated at the Canada Honda target. Hole CHD05 reported was a large step-out along a two-kilometer-long gravity anomaly and intercepted a wide zone of copper-gold mineralization 150m down-dip.

It is particularly encouraging to see an increase in thickness of the copper-gold mineralization down-dip coincident with a gravity target. This indicates good potential for additional mineralization associated with the gravity anomaly. Hole CHD06, more than 100m to the east of hole CHD05, has intersected visible copper mineralization coincident with a downhole EM (DHEM) conductor anomaly, confirming that mineralization at Canada Honda is open in all directions.

Canada Honda, one of more than 14 gravity anomalies in the Escacena Project, is a high-priority target following drill results reported on June 1, 2023 that show gold and copper mineralization increasing down-dip on the edge of a 2km long east-west gravity and DHEM anomaly. Drill hole CHD05, the first of a three-hole follow-up drill program, targeted the gravity anomaly 150m down-dip from previous drill hole CHD04, and approximately 330m down-dip from a historic mine tunnel. Results are pending for hole CHD06 located 100m east of CHD05, targeting a large DHEM anomaly.

Hole CHD07 is in-progress targeting a resistivity-low anomaly 100m down-dip from CHD05. The Canada Honda target is approximately 3.5km north of Pan Global's La Romana copper-tin-silver discovery at the Escacena Project.