PGZ.V · 2021-09-16 12:00:00

Pan Global Continues to Expand the near Surface Copper-Tin Discovery at the Escacena Project, Southern Spain Highlights include : 6.5m at 2.52% CuEq (2.27% Cu, 8.1g/t Ag) from 163.5m in LRD74 , including; 2.75m at 5.61% CuEq

Drill Results

Pan Global Continues to Expand the near

Surface Copper-Tin Discovery at the Escacena

Project, Southern Spain

Highlights include

6.5m at 2.52% CuEq

(2.27% Cu, 8.1g/t Ag) from 163.5m in

LRD74

, including;

2.75m at 5.61% CuEq

(5.09% Cu, 18g/t Ag, 0.05g/t Au) from 166m

7.75m at 1.42% CuEq

(0.86% Cu, 0.15% Sn, 5.2g/t Ag) from 143m in

LRD62

21m at 0.67% CuEq

(0.50% Cu, 0.03% Sn, 2.9g/t Ag) from 139m in

LRD65

The near surface copper-tin mineralization now extends over 1km strike length and is

open along strike and down dip

Vancouver, British Columbia--(Newsfile Corp. - September 16, 2021) - Pan Global Resources Inc.

(TSXV: PGZ) (OTC Pink: PGNRF) (the "Company") is

pleased to announce that drilling continues to

expand the La Romana copper target at the Escacena Project with new high-grade down-dip and near

surface copper and tin intercepts. La Romana is located approximately 6km southwest of the former

Aznalcollar open pit mine and approximately 15km west of the Las Cruces copper mine, in the Iberian

Pyrite Belt, southern Spain.

Tim Moody, Pan Global President and CEO states: "The new drill holes at La Romana have expanded

the strike length of the mineralization to more than 1 km and shows the mineralization remains wide open

in several areas. Considerable upside remains with less than half the strike potential of this first target

tested. Results for 21 additional drill holes are pending and several holes prioritised assay which contain

strong visible mineralization. Drilling is ongoing."

Drill results

The latest drill results are from thirteen new holes in the Phase 4 drill program at the La Romana

discovery. The drill program is continuing to test extensions of the copper and tin mineralization in all

directions.

Drill holes LRD 48, 53, 56, 59, 60, 62, 65 and 74 all targeted down dip extensions. Holes LRD 49, 51,

54, 57 and 67 were aimed at extending the near surface mineralization. Copper mineralization was

intersected in all thirteen holes, with wide intervals reported from near surface in LRD 48 and 49, and

down-dip in LRD 59, 65 and 74. Holes 62 and 74 confirm high copper grades remain open down dip

and hole LRD 48 show potential continuation of the mineralization to the west towards the La Romana

mine workings.

Drill hole collar information is provided in Table 1 below. Assay results are summarized in Table 2. Drill

hole locations are shown in Figure 1. The drill holes were all inclined towards the south and all reported

drill intervals are approximately true widths.

Table 1

Escacena Project, La Romana drill hole collar information (Total 2532.15m)

Hole ID

Easting

Northing

Azimuth (º)

Dip (º)

Depth (m)

LRD48

736081

4152750

180

-55

206

LRD49

736636

4152604

180

-60

116.1

LRD51

736882

4152621

180

-55

149.05

LRD53

736584

4152747

180

-55

233.1

LRD54

736680

4152602

180

-55

119.1

LRD56

736536

4152755

180

-55

216.9

LRD57

737032

4152613

180

-55

116.05

LRD59

736689

4152719

180

-50

206.1

LRD60

737035

4152881

180

-67

371.2

LRD62

736382

4152804

180

-72

221.2

LRD65

736329

4152815

180

-55

231.4

LRD67

736973

4152611

180

-75

106.75

LRD74

736791

415285

180

-60

239.2

Coordinates are in ERTS89 datum UTM29N

Table 2

- Escacena Project, La Romana drill results summary

Hole

Int

CuEq

ppm

g/t

ppm

g/t

ppm

LRD48

69.00

89.80

20.80

0.65

0.42

546

1.3

0.01

100

86.00

89.80

3.80

1.67

0.96

2033

2.9

139

0.01

129

89.00

89.80

0.80

5.60

4.27

3519

11.3

267

0.03

329

119.40

119.60

0.20

2.52

1.64

2000

4.5

349

0.07

100

LRD49

11.50

31.00

19.50

0.60

0.34

651

2.2

0.01

220

18.00

23.00

5.00

1.19

0.62

1573

4.0

100

0.01

136

279

76.35

83.00

6.65

0.66

0.49

310

2.5

0.01

102

309

76.35

79.15

2.80

1.18

0.96

445

4.2

0.01

104

407

LRD51

46.10

56.00

9.90

0.84

0.72

4.7

0.02

235

258

46.10

48.00

1.90

1.05

0.85

6.7

0.02

400

170

51.00

54.50

3.50

1.26

1.10

5.7

0.02

162

273

73.55

75.25

1.70

1.02

0.78

135

5.2

195

0.04

157

336

LRD53

47.90

55.55

7.65

0.41

0.31

3.7

0.01

676

347

50.85

51.00

0.15

1.94

1.56

15.3

132

0.13

857

241

54.85

55.55

0.70

1.27

1.09

6.7

0.03

327

477

89.85

90.40

0.55

1.80

1.57

107

9.8

0.03

774

1144

106.00

118.00

12.00

0.46

0.33

196

1.8

0.01

174

619

106.00

107.10

1.10

1.59

1.02

1228

6.6

0.10

375

1070

121.00

136.00

15.00

0.47

0.21

711

1.5

0.01

149

631

121.00

128.00

7.00

0.66

0.27

1103

1.8

0.00

445

121.00

122.00

1.00

1.30

0.42

2700

3.3

0.01

113

848

LRD54

21.00

28.50

7.50

0.79

0.48

737

3.6

0.01

138

275

22.00

26.00

4.00

1.06

0.66

978

4.7

0.01

134

241

78.25

78.40

0.15

0.76

0.45

160

14.1

0.04

8370

14700

LRD56

109.00

113.50

4.50

1.55

1.34

206

6.1

117

0.01

550

163.25

178.00

14.75

0.55

0.39

346

2.0

0.01

188

380

167.00

169.00

2.00

1.53

1.29

488

4.4

0.01

195

280

LRD57

46.50

58.00

11.50

0.32

0.23

2.8

0.02

394

1136

52.00

52.30

0.30

2.88

2.12

125

36.3

212

0.18

3340

651

LRD59

28.10

28.60

0.50

1.12

0.91

10.5

0.03

301

359

105.15

130.00

24.85

0.61

0.40

482

2.5

0.01

131

491

105.15

108.85

3.70

1.18

0.54

1941

3.3

0.00

166

364

114.30

115.30

1.00

1.13

0.89

411

5.2

0.01

440

116.80

117.40

0.60

1.68

1.39

449

7.5

102

0.01

341

120.35

123.25

2.90

1.05

0.71

704

4.6

121

0.02

385

1334

152.10

152.35

0.25

3.86

3.36

1035

10.9

0.02

328

1390

156.75

157.50

0.75

1.64

1.19

805

6.0

202

0.05

337

2590

LRD60

168.45

169.30

0.85

0.12

0.03

4.0

0.02

3060

15150

231.60

231.90

0.30

1.03

0.73

6.9

0.19

1220

2490

251.00

253.30

2.30

1.25

1.03

4.6

0.12

252.85

253.30

0.45

5.38

4.66

19.0

271

0.37

695

277.60

279.20

1.60

1.61

1.32

7.6

229

0.07

713

278.25

278.70

0.45

4.75

3.94

22.3

674

0.17

191

1900

299.05

299.3

0.25

2.93

2.54

8.2

199

0.19

300

339

329.20

329.40

0.20

1.31

1.06

4.3

110

0.13

1270

1980

357.70

358.15

0.45

1.25

1.13

3.5

0.04

173

1730

LRD62

143.00

150.75

7.75

1.42

0.86

1495

5.2

0.01

109

887

144.00

145.50

1.50

3.16

2.50

1365

12.4

166

0.01

148

1238

150.30

150.75

0.45

4.89

1.37

11400

10.3

113

0.03

357

4260

LRD65

139.00

160.00

21.00

0.67

0.50

303

2.9

0.01

214

422

146.00

152.00

6.00

1.10

0.84

495

5.0

0.01

470

726

158.00

160.00

2.00

1.23

1.04

315

4.6

0.01

147

377

LRD67

28.20

40.50

12.30

0.70

0.56

7.1

0.02

950

617

28.20

28.90

0.70

2.39

2.06

13.1

147

0.08

2860

738

34.35

37.00

2.65

1.37

1.06

19.8

0.02

1884

942

39.00

40.50

1.50

1.57

1.32

11.2

116

0.03

471

884

39.60

39.95

0.35

5.25

4.52

122

37.5

276

0.08

680

1410

50.00

53.00

3.00

1.58

1.43

4.2

104

0.03

304

50.00

50.70

0.70

5.40

4.96

119

13.7

314

0.08

164

571

62.00

65.00

3.00

1.16

0.94

8.1

104

0.04

885

1901

63.00

63.30

0.30

6.69

5.59

131

48.6

432

0.25

7700

13450

78.10

78.45

0.35

2.03

1.62

20.0

179

0.05

4780

7730

LRD74

78.50

78.70

0.20

4.98

4.7

9.8

203

0.02

267

163.50

170.00

6.50

2.52

2.27

8.1

203

0.03

499

166.00

168.75

2.75

5.61

5.09

17.8

421

0.05

107

942

184.75

204.15

19.40

0.59

0.48

106

2.06

0.01

331

184.75

186.00

1.25

1.85

1.63

243

6.46

106

0.02

179

198.35

200.20

1.85

1.34

0.17

135

3.76

140

0.01

251

201.75

202.5

0.75

1.48

1.21

172

6.2

214

0.04

165

1820

Metal prices used: Copper US$6,200 per tonne, Silver USD22.50 per ounce, Gold US$1,500 per ounce, Cobalt US$32,800 per tonne and Tin

US$18,000 per tonne. The copper equivalent (CuEq ) values are for exploration purposes only and include no assumptions for metal recovery.

The recent drill results at La Romana extend the strike length a further 200m and confirms a continuous

zone of near surface copper mineralization

over a strike length of more than 1 km. The copper

mineralization remains open along strike, down-dip and up-dip locally. The primary mineralization

includes mainly stock work, semi-massive sulphides and bands of massive sulphide, with chalcopyrite

as the main primary copper mineral and cassiterite as the only observed tin mineral. The copper

mineralization is also associated with elevated levels of silver, cobalt and gold. A metal zonation is also

apparent, progressing from copper and tin in the west to copper and then zinc in the east. Supergene

chalcocite is also evident in several recent drill holes.

Drill hole

LRD48

extends the near-surface copper mineralization approx. 100m along strike to the west

of hole LRD50, which included 24.1m at 0.71% CuEq. The copper mineralization remains wide open to

the west of hole LRD48 in the direction of the La Romana mine workings and also remains open up- and

down-dip. Results include:

20.8m at 0.65% CuEq

(0.42% Cu, 0.05% Sn, 1.3g/t Ag) from 69m downhole, including;

3.8m at 1.67% CuEq

(0.96% Cu, 0.20% Sn, 2.9g/t Ag, 139ppm Co), including

0.8m at 5.6% CuEq

(4.27% Cu, 0.35% Sn, 11.3g/t Ag, 0.03g/t Au, 267ppm Co), and

0.2m at 2.52% CuEq

(1.64% Cu, 0.20% Sn, 4.5g/t Ag, 0.07g/t Au, 349ppm Co) from 119.4m

Drill hole

LRD49

extended the copper mineralization almost to surface and approx. 25m up-dip from

hole LRD36, which returned 23m at 1.06% CuEq, including 11m at 1.74% CuEq. The footwall includes a

wide zone with anomalous Cu and Sn (40.5m at 0.15% Cu and 0.034% Sn from 65.5m). Results include:

19.5m at 0.6% CuEq

(0.34% Cu, 0.07% Sn, 2.2g/t Ag) from 11.5m, including;

5m at 1.19% CuEq

(0.62% Cu, 0.16% Sn, 4g/t Ag); and

2.8m at 1.18% CuEq

(0.96% Cu, 0.04% Sn, 4.2g/t Ag) from 76.35m

Drill hole

LRD51

intersected supergene chalcocite from approx. 46 to 67m, followed by 0.35m and 0.5m

intervals of massive sulphides (pyrite-chalcopyrite) from 73.5m and 92.85m respectively. The results

extend the supergene enrichment a further 25m up-dip from hole 33 which intersected 8m at 1.34%

CuEq). Results include:

9.9m at 0.84% CuEq

(0.72% Cu, 4.7g/t Ag) from 46.1m, including;

0.9m at 1.62% CuEq

(1.38% Cu, 11.8g/t Ag) and

3.5m at 1.26% CuEq

(1.1% Cu, 5.7g/t Ag); and

1.7m at 1.02% CuEq

(0.78% Cu, 0.014% Sn, 5.2g/t Ag, 0.04g/t Au, 195ppm Co) from 73.6m

Drill hole

LRD53

intersected multiple narrow high grade copper (>1.0% CuEq) approximately 50m

down-dip from hole LRD47. The results indicate the copper mineralization pinches or fingers out in this

area and widens to the east and west.

Drill hole

LRD54

intersected a narrow zone of weak near-surface supergene mineralization approx. 25m

south of hole LRD39. The foot wall includes a broad zone of anomalous in Sn and Au (assays up to

0.16% Sn and 0.19g/t Au). Results include:

7.5m at 0.79% CuEq

(0.48% Cu, 0.074% Sn, 3.6g/t Ag) from 21m, including

4m at 1.06% CuEq

(0.66% Cu, 0.1% Sn, 4.7g/t Ag)

Drill hole

LRD56

intersected a narrow zone of high grade copper mineralization mineralization approx.

50m down-dip from hole LRD10 which intersected 7.2m at 1.4% CuEq. The foot wall includes a broad

zone anomalous in Sn and Au (assays up to 0.16% Sn and 0.04g/t Au). The mineralization remains open

at depth and appears to widen to the west. Results include:

4.5m at 1.55% CuEq

(1.34% Cu, 0.02% Sn, 6.1g/t Ag, 117ppm Co) from 21m

14.75m at 0.55% CuEq

(0.39% Cu, 0.03% Sn, 2g/t Ag), including

2m at 1.53% CuEq

(1.29% Cu, 0.05% Sn, 4.4g/t Ag) from 167m

Drill hole

LRD57

intersected a narrow interval copper mineralization approx. 50m east of hole LRD28.

The results indicate the near-surface mineralization may pinch out in this area. Results include:

11.4m at 0.32% CuEq

(0.23% Cu, 2.8g/t Ag, 0.02g/t Au) from 46.6m, including

0.3m at 2.88% CuEq

(2.12% Cu, 0.013% Sn, 36.3g/t Ag, 0.18g/t Au, 212ppm Co)

Drill hole

LRD59

confirmed continuation of a wide zone of copper and tin mineralization down dip from

hole LRD37 which intersected 20.5m at 0.8% CuEq, including 8.55m at 1.22% CuEq. Results include:

0.5m at 1.12% CuEq

(0.91% Cu, 10.5g/t Ag, 0.03g/t Au) from 28.1m, and

24.85m at 0.61% CuEq

(0.40% Cu, 0.05% Sn, 2.5g/t Ag) from 105.15m, including;

3.7m at 1.18% CuEq

(0.54% Cu, 0.19% Sn, 3.3g/t Ag) from 105.15m

1.0m at 1.13% CuEq

(0.89% Cu, 0.04% Sn, 2.5g/t Ag) from 114.3m

0.6m at 1.68% CuEq

(1.39% Cu, 0.05% Sn, 7.5g/t Ag) from 116.8m

2.9m at 1.05% CuEq

(0.71% Cu, 0.07% Sn, 4.6g/t Ag, 121ppm Co) from 120.35m

0.25m at 3.86% CuEq

(3.36% Cu, 0.10% Sn, 10.9g/t Ag) from 152.1m

0.75m at 1.64% CuEq

(1.19% Cu, 0.08% Sn, 6.0g/t Ag, 0.05g/t Au, 202ppm Co) from 156.75m

Drill hole

LRD60

intersected a narrow interval with high Pb and Zn and two narrow zones of semi-

massive to massive sulphide coincident with down hole EM conductor, including:

0.85m at 0.31% Pb, 1.52% Zn

and

4g/t Ag

from 168.45m

2.3m at 1.25% CuEq

(1.03% Cu, 4.6g/t Ag, 0.12g/t Au) from 251m, including;

0.45m at 5.38% CuEq

(4.66% Cu, 19g/t Ag, 0.37g/t Au, 271ppm Co)

1.6m at 1.61% CuEq

(1.32% Cu, 7.6g/t Ag, 0.07g/t Au, 229ppm Co) from 277.6, including;

0.45m at 4.75% CuEq

(3.94% Cu, 22.3g/t Ag, 0.17g/t Au, 674ppm Co)

0.25m at 2.93% CuEq

(2.54% Cu, 8.2g/t Ag, 0.19g/t Au) from 299.05m

Drill hole

LRD62

extends the copper-tin mineralization approx. 50m down dip from hole LRD42 which

intersected 9m at 1.21% CuEq from 128m. Results include:

7.75m at 1.42% CuEq

(0.86% Cu, 0.15% Sn, 5.2g/t Ag) from 143m, including;

1.5m at 3.16% CuEq

(2.5% Cu, 0.14% Sn, 12.4g/t Ag) from 144m

0.45m at 4.89% CuEq

(1.37% Cu, 1.14% Sn, 10.3g/t Ag) from 150.3m

Drill hole

LRD65

extended the copper mineralization approx. 55m down-dip from hole LRD18, which

intersected 21.6m at 1.02% CuEq. Results include:

21m at 0.67% CuEq

(0.50% Cu, 0.03% Sn, 2.9g/t Ag) from 139m, including;

2m at 1.23% CuEq

(1.04% Cu, 0.03% Sn, 4.6g/t Ag)

Drill hole

LRD67

intersected multiple shallow copper intervals, extending the copper zone approx. 50m

down dip from hole LRD28 which intersected 7.65m at 1.21% CuEq from 47.8m. Results include:

12.3m at 0.70% CuEq

(0.56% Cu, 7.1g/t Ag) from 28.2m, including;

0.7m at 2.39% CuEq

(2.06% Cu, 13.1g/t Ag, 0.08g/t Au) from 28.2m

2.65m at 1.37% CuEq

(1.06% Cu, 19.8g/t Ag) from 34.35m

1.5m at 1.57% CuEq

(1.32% Cu, 11.2g/t Ag, 0.03g/t Au) from 39m

0.35m at 5.25% CuEq

(4.52% Cu, 37.5g/t Ag, 0.08g/t Au, 276ppm Co)

3m at 1.58% CuEq

(1.43% Cu, 4.2g/t Ag, 0.03g/t Au) from 50m, including

0.7m at 5.4% CuEq

(4.96% Cu, 13.7g/t Ag, 0.08g/t Au, 314ppm Co),

3m at 1.16% CuEq

(0.94% Cu, 8.1g/t Ag, 0.04g/t Au) and

0.19% Zn

from 62m, including

0.3m at 6.7% CuEq

(5.59% Cu, 48.6g/t Ag, 0.25g/t Au, 432ppm Co),

0.77% Pb and

1.35% Zn

from 63m

0.35m at 2.03% CuEq

(1.62% Cu, 20g/t Ag, 0.05g/t Au, 179ppm Co),

0.48% Pb

and

0.77% Zn

from 78.1m

Drill hole

LRD74

extended the copper zone approx. 100m down dip from hole LRD23. The hole also

confirms the high copper is coincident with an off-hole EM conductor beneath hole LRD01 and shows a

broad zone of lower grade copper in the footwall. Results include:

0.2m at 4.98% CuEq

(4.7% Cu, 9.8g/t Ag) from 78.5m

6.5m at 2.52% CuEq

(2.27% Cu, 8.1g/t Ag, 0.03g/t Au) from 163.5m, including

2.75m at 5.61% CuEq

(5.1% Cu, 17.8g/t Ag, 0.05g/t Au, 421ppm Co) from 166m

19.4m at 0.59% CuEq

(0.48% Cu, 2.1g/t Ag) from 184.75m

Assay results are pending for an additional 21 completed drill holes with several holes showing strong

visible copper mineralization. The Phase 4 drill program is ongoing with additional holes targeting

extensions to the copper mineralization.

Figure 1

- La Romana geophysics targets and drill hole locations with selected highlights. New drill hole

are highlighted in orange.

To view an enhanced version of Figure 1, please visit:

https://orders.newsfilecorp.com/files/5190/96736_8c118dd04413e9ff_001full.jpg

QA/QC

Core size was HQ (63mm) and all samples were ½ core. Nominal sample size was 1m core length and

ranged from 0.4 to 2m. Sample intervals were defined using geological contacts with the start and end of

each sample physically marked on the core. Diamond blade core cutting and sampling was supervised

at all times by Company staff. Duplicate samples of ¼ core were taken approximately every 30 samples

and Certified Reference materials inserted every 25 samples in each batch.

Samples were delivered to ALS laboratory in Seville, Spain and assayed at the ALS laboratory in

Ireland. All samples were crushed and split (method CRU-31, SPL22Y), and pulverized using (method

PUL-31). Gold analysis was by 50gm Fire assay with ICP finish (method Au-ICP22) and multi element

analysis was undertaken using a 4-acid digest with ICP AES finish (method ME-ICP61). Tin was

analysed in selected intervals using Lithium borate fusion and ICP MS finish (method ME-MS81). Over

grade base metal results were assayed using a 4-acid digest ICP AES (method OG-62).

Over grade tin

was determined using peroxide fusion with ICP finish (method Sn-ICP81x).

Qualified Person

Patrick Downey, a Director of Pan Global Resources and a qualified person as defined by National

Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this

news release. Mr. Downey is not independent of the Company.

About Pan Global Resources

Pan Global Resources Inc. is actively engaged in base and precious metal exploration in southern Spain

and is pursuing opportunities from exploration through to mine development.

The Company is committed

to operating safely and with respect to the communities and environment where we operate.

On behalf of the Board of Directors

www.panglobalresources.com

FOR FURTHER INFORMATION PLEASE CONTACT:

[email protected]

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 news 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 news release is based on information available to the

Company as of the date of this news 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.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/96736

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