Pan Global Expected to Benefit from the Inclusion of Copper IN the 2023 EU Critical Minerals and Metals List
355 Burrard Street, Suite 1150, Vancouver, BC V6C 2G8
Tel: +1 778 372-7101
TSXV: PGZ OTCQB: PGZFF MARCH 21, 2023
PAN GLOBAL EXPECTED TO BENEFIT FROM THE
INCLUSION OF COPPER IN THE 2023 EU CRITICAL
MINERALS AND METALS LIST
VANCOUVER, BRITISH COLUMBIA – (March 21, 2023) – Pan Global Resources
Inc. (“Pan Global” or the "Company") (TSX -V: PGZ; OTC QB: PGZFF) is pleased to
note the inclusion of copper as one of the key metals in the newly released European
Union's Critical Minerals and Metals List. The new list identifies the most critical
minerals and metals that are essential to the EU's economic growth and its transition
to a low-carbon and digital economy.
The EU's focus on critical metals an d minerals could provide significant benefits to
Pan Global and other companies exploring and developing mineral resources in
Europe. The EU has made a commitment to support the sustainable supply of these
critical metals and minerals, including copper, an d has identified potential funding
opportunities and tax incentives to support companies in this sector.
The inclusion of copper on the Critical Minerals and Metals List is expected to provide
direct benefit to Pan Global’s Escacena copper project in Spain’s Iberian Pyrite Belt.
The Iberian Pyrite Belt is one of the most important mineral provinces in Europe and
arguably the most significant Volcanogenic Massive Sulphide mining district for copper
and other metals globally. The EU's recently announced support for copper as a critical
metal underscores the importance of Pan Global ’s copper project, which has the
potential to supply the EU with a reliable source of this essential metal. In a recent
study conducted by the European Commission , it was reported that the EU imports
48% of its current copper requirements, the majority of which derives from Chile an
exploration and extraction and from Chinese processing facilities.
"The inclusion of copper on the EU's 2023 Critical Minerals and Metals List is a positive
development for Pan Global ," said Tim Moody, President and CEO of Pan Global
Resources. "We are confident in the potential of our copper project in Spain and this
development has the potential to support the rapid advancement of our copp er
discovery at Escacena. We look forward to accessing potential funding opportunities
and other incentives that could support our efforts to provide a reliable and sustainable
European supply of copper."
“With three drill rigs operating since the beginning of the year at the Escacena Project,
Pan Global is nearing the successful completion of a 10-hole program at the La
Romana discovery. Drilling is also ongoing at the Romana Deep target where three
holes have been completed and at the Zarcita target where drill hole 14 is in-progress.
Results are anticipated over the coming weeks.”
The global demand for copper is expected to increase significantly in the coming
years, with estimates suggesting that the EU alone will need an additional 2.5 million
2
tonnes of copper per annum by 2030. Moreover, the EU's emphasis on responsible
and sustainable sourcing of critical minerals is expected to drive improvements in
environmental, social, and governance practices within the copper industry. This will
benefit not only the EU but also the global community by reducing the environmental
impact of mining and promoting fair labo ur practices. This important development
could provide for speedier project permitting and access to capital which includes
grants, tax incentives, research and regulatory assistance along with other forms of
financing and technical assistance.
About the Escacena Project
The Escacena Project comprises a large, contiguous, 5,760 -hectare land package
controlled 100% by Pan Global in th e east of the Iberian Pyrite Belt. The project is
located near operating mines at Las Cruces and Riotinto and is immediately adjacent
to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes/Grupo
Mexico is in the final permitting stage with construction anticipated to restart in 2023.
The Escacena Project hosts the La Romana copper -tin discovery and a number of
other prospective targets, including Zarcita, Hornitos, La Jarosa, Romana Deep,
Bravo, Barbacena, El Pozo, and San Pablo.
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
FOR FURTHER INFORMATION PLEASE CONTACT:
Jason Mercier, VP Investor Relations and Communications
+1 778 372-7101
www.panglobalresources.com
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
3
required under applicable securities legislation, the Company does not intend, and
does not assume any obligation, to update this forward-looking information.
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