Company elects not to proceed with proposed Warrant extension
PAN GLOBAL ANNOUNCES $7.2 MILLION
PRIVATE PLACEMENT WITH ALPAYANA
/NOT FOR DISSEMINATION, RELEASE OR PUBLICATION IN OR INTO THE UNITED STATES OR
FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/
TSXV: PGZ
|
OTCQB: PGZFF
|
FRA: 2EU
Company elects not to proceed with proposed Warrant extension
VANCOUVER, BC
,
April 23, 2026
/CNW/ - Pan Global Resources Inc. ("Pan Global" or the "Company")
(TSXV: PGZ) (OTCQB: PGZFF) (FRA: 2EU) is pleased to announce a non-brokered private placement
financing with an existing strategic investor, Alpayana (
"Alpayana"
) to purchase 45,000,000 Common
Shares (the "
Shares
") of the Company at a price of C$0.16 per Share for aggregate gross proceeds of
C$7,200,000 (the
"Offering"
). At closing of the Offering, Alpayana will hold approximately 19.9% of the
outstanding shares of Pan Global.
In addition, in consideration of the Offering with Alpayana, the Board of the Company has elected not to
proceed with the previously announced Warrant extension (see
April 21, 2026 media release
). The
Company invites warrant-holders to exercise their warrants before the expiry date of May 6, 2026.
"We are extremely pleased with Alpayana's offer to significantly increase its strategic investment in Pan
Global. Alpayana is a Peruvian mining company with six operating mines in Latin America. This strategic
investment is a strong endorsement of the potential in the Company's projects in Spain and allows the
Company to accelerate drilling at our Escacena and Cármenes Projects focussed on both expanding the
current Escacena resource base and accelerating exploration for new discoveries in the next twelve to
eighteen months," said Tim Moody, President and CEO.
The proceeds of the Offering will be used to double the current drilling plan to 20,000 meters and
expand and accelerate exploration at the Company's Escacena and Cármenes Projects. This includes:
Drilling to extend and expand the Cañada Honda copper-gold deposit, where a preliminary
resource, drill results and a large untested coincident gravity and electro-magnetic target indicate
significant expansion potential;
Expanding exploration activities in the highly prospective and large Escacena South area. This will
commence with a heliborne geophysics survey followed by an aggressive drill program.
Applications for access and permits for the drill program are in progress and expected later this
year;
Follow-up drilling at the Cármenes Project, with the focus on expanding the Providencia target and
drill-testing additional targets identified from recent exploration; and,
General corporate purposes.
The Offering is subject to final TSX Venture Exchange acceptance.
About Alpayana
Alpayana is a family-owned private mining group with more than 39 years of continuous operations in
Peru and Mexico.
Alpayana currently operates multiple mines in Peru and Mexico. The company combines operational
expertise and disciplined project development.
The company is committed to sustainable and responsible mining, guided by a long-term vision that
prioritizes the well-being of its employees, the protection of the environment, and the development of the
indigenous communities surrounding its operations. Through its current mining infrastructure in the
Americana and Yauliyacu mines, Alpayana provides clean water for more than 2.5 million people.
Qualified Persons
Álvaro Merino, Vice President Exploration for Pan Global Resources and a qualified person as defined
by National Instrument 43-101, has approved the scientific and technical information for this media
release. Mr. Merino is not independent of the Company.
About the Escacena Project, Southern Spain
The Escacena Project, recently added Escacena South area and new application areas, together
comprise a mineral rights land package covering more than 13,000-hectares controlled 100% by Pan
Global in the east of the Iberian Pyrite Belt, Europe's second-largest copper-producing region.
Escacena is located near the operating mine at Riotinto (Atalaya) and is immediately adjacent to the
former Aznalcóllar and Los Frailes mines where Minera Los Frailes (Grupo México) is commencing a
new underground mine development beneath the former Los Frailes open pit mine. The Escacena
Project includes Mineral Resource Estimates at the La Romana copper-tin-silver and Cañada Honda
copper-gold deposits and hosts 15 other prospective targets for follow-up.
Escacena Project Maiden Mineral Resource Estimates
La Romana
Measured and Indicated
: 32.4 Mt at 0.37% Cu, 270 ppm Sn, 1.7 g/t Ag, 0.44% CuEq (119.5 kt
Cu, 8.8 kt Sn, 1.7 Moz Ag) – at 0.2 % copper cutoff grade, and
Inferred
: 4.0 Mt at 0.40% Cu, 71 ppm Sn, 1.4 g/t Ag; 0.42% CuEq (15.8 kt Cu, 0.3 kt Sn, 0.2 Moz
Ag) – at 0.2% copper cutoff grade.
Cañada Honda
Inferred
: 5.0 Mt at 0.65 g/t Au, 0.14% Cu, 1.2 g/t Ag; 0.74 g/t AuEq (104 koz Au, 6.8 kt Cu, 0.2
Moz Ag) – at 0.25 g/t gold cutoff grade.
For details and additional technical disclosure, please see the
February 12, 2026
media release.
About the Cármenes Project, Northern Spain
The Cármenes Project is located on the Rio Narcea Gold Belt approx. 55km north of the city of León
and comprises five Investigation Permits over 5,653 hectares held 100% by Pan Global. The Project
area is highly prospective for multiple bodies or "clusters" of carbonate-hosted hydrothermal/epithermal
style copper, nickel, cobalt, and gold mineralization. The area includes the former Profunda and
Providencia mines that operated until the 1930s, producing concentrates of copper and cobalt with
nickel. Numerous other smaller historical mine workings occur in the area highlight the potential for
additional mineralization. These types of ore deposits can have significant vertical dimensions exceeding
1km. The Company's maiden drill program in 2025 at the Providencia target intersected significant gold,
indicating potential for the first significant gold discovery in Spain in more than two decades.
About Pan Global Resources
Pan Global Resources Inc. is actively exploring for copper-rich mineral deposits along with gold and
other metals. Copper has compelling supply-demand fundamentals and outlook for strong long-term
prices as a critical metal for global electrification and energy transition. Gold is also attracting record
prices.
The Company's flagship Escacena Project, hosting La Romana and Cañada Honda copper-tin-gold
mineral resources, is in the prolific Iberian Pyrite Belt in southern Spain, where a favourable permitting
track record, excellent infrastructure, mining and professional expertise, and support for copper as a
Strategic Raw Material by the European Commission collectively define a tier-one low-risk jurisdiction
for mining investment. The Company's second project, at Cármenes in northern Spain, is an area with a
long mining history and excellent infrastructure. The Pan Global team comprises proven talent in
exploration, discovery, development, and mining operations. Pan Global Resources is committed to
operating safely and with utmost respect for the environment and our partnered communities. The
Company is a member, and operates under the principles, of the United Nations Global Compact.
To learn more about Pan Global Resources, please visit the Company's Curation Connect
showcase and explore AI-generated responses to your enquiries at
https://app.curationconnect.com/company/Pan-Global-Resources-44037?utm_source=pg_mediareleases
www.panglobalresources.com
Forward-looking statements
Statements which are not purely historical are forward-looking statements, including any statements
regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that
actual outcomes and the Company's actual results could differ materially from those in such forward-
looking statements. The Company believes that the expectations reflected in the forward-looking
information included in this media release are reasonable, but no assurance can be given that these
expectations will prove to be correct and such forward-looking information should not be unduly relied
upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental,
environmental, and technological factors that may affect the Company's operations, markets, products,
and prices. Readers should refer to the risk disclosures outlined in the Company's Management
Discussion and Analysis of its audited financial statements filed with the British Columbia Securities
Commission.
The forward-looking information contained in this media release is based on information available to the
Company as of the date of this media release. Except as required under applicable securities
legislation, the Company does not intend, and does not assume any obligation, to update this forward-
looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Pan Global Resources Inc.
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For further information:
FOR MORE INFORMATION PLEASE CONTACT: Jason Mercier, VP
Investor Relations and Communications, [email protected] /
[email protected], Tel: +1-236-886-9518; Justin Byrd, Chief Financial Officer,
CO: Pan Global Resources Inc.
CNW 17:08e 23-APR-26