PGZ.V · 2025-06-18 12:00:00

Pan Global Intercepts Further Higher-Grade GOLD and Copper Mineralization at Cármenes Project, Spain

Exploration Programs

PAN GLOBAL INTERCEPTS FURTHER HIGHER-GRADE GOLD AND

COPPER MINERALIZATION AT CÁRMENES PROJECT, SPAIN

TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU

Higher-grade intervals include 2.19 g/t gold over 4 meters; 1.05 g/t Au over

10m

; and 0.59 g/t Au, 1.05% Cu, 0.22% Ni, 0.22% Co over

Wide breccia gold intercepts, including 0.37 g/t Au over 56 meters and 0.23 g/t Au over 110 meters, highlights shallow bulk-tonnage potential

Drilling now targeting the principal untested gold zone at Providencia with three planned step-out holes

Multiple untested geophysics targets indicates strong potential for additional discoveries at Cármenes

VANCOUVER, BC

June 18, 2025

/CNW/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) (FRA: 2EU) is pleased

to announce results for two additional drillholes completed in the maiden drill campaign at the Company's 100%-owned Cármenes Project ("Cármenes"), northern

Spain

The new assay results are for drillholes PVD03 and PVD04, which targeted potential extensions of the breccia-hosted mineralization associated with the historical

Providencia copper-cobalt-nickel underground mine workings. PVD03 was drilled immediately east of the historical mine workings, and PVD04 drilled through Cu-

Ni-Co mineralized breccia. The Providencia target area had no previous drilling and no prior recognition of potential for significant gold mineralization.

Drill Highlights:

Drillhole PVD03

Wide gold interval from near surface extending east of the mine workings

56m

at 0.37 g/t Au

from

29m

(downhole), including

at 1.22 g/t Au

from

64m

10m

at 1.05 g/t Au

from

75m

at 2.19 g/t Au

from

81m

Drillhole PVD04

High-grade copper, nickel, cobalt and selenium intercepts within a wider breccia zone with elevated gold

110m

at 0.23 g/t Au

from

, including

at 0.59 g/t Au

1.05% Cu, 0.22% Co, 0.22% Ni

0.21 g/t Au, 0.80% Cu, 0.23% Co, 0.60% Ni

from

113m

14m

at 0.51 g/t Au

from

11m

Several

intervals with grades from

1.08 g/t to 2.05 g/t Au

"The wide zones of breccia mineralization in Pan Global's maiden drill program at Cármenes highlight the potential for significant hydrothermal breccia-hosted

gold, copper, nickel, and cobalt mineralization. The results expand the breccia-hosted mineralization south, east and north of the historical mine workings at

Providencia and the target area remains wide open. The next three step-out holes will be the first tests of a wide zone with highly anomalous gold mineralization

east of the Providencia workings, including channel sampling that returned 3.11 g/t gold over 37 meters," said

Tim Moody

, Pan Global President and CEO.

"We are also very excited by the results of the recently completed helicopter geophysics survey over Cármenes, which provides a rich dataset indicating multiple

new targets with similar features to Providencia, indicating a high potential for discovery of additional gold, copper, nickel, and cobalt in the Project area."

Key points:

The drill results reported to date are for three of the planned six-hole maiden drill campaign at Cármenes, which is the first-ever drilling at the Providencia

target.

First completed drillhole (PVD02) intersected a high-grade interval of 6.27 g/t gold over

within a broader interval averaging 1.08 g/t gold over

46m

south

of the historical mine workings. [See media release from

May 19, 2025

]

The results for drillholes PVD03 and PVD04 expand the breccia-hosted gold zone to the east and north of the mine workings, and mineralization remains

wide open.

The upcoming three drillholes will step out up to

120m

east of the Providencia mine workings, testing beneath recently reported high-grade trench and

channel sample results (

3.11 g/t Au over

37m

and

1.74 g/t Au over

20m

). [See media release from

February 11, 2025

]

Interpretation of a recently completed helicopter electromagnetic, magnetic and radiometric survey over Cármenes is progressing quickly and indicates

multiple additional targets with similar characteristics to Providencia.

Bravo Target drilling update

Pan Global is also pleased to report that following a pause for crop harvesting, drilling will resume at the large high-priority Bravo target at the flagship Escacena

Project in southern

Spain

. The next three Bravo holes will test very strong IP-chargeability and coincident gravity and electromagnetic geophysics anomalies, and

are expected to be completed over the next six weeks.

Figure 1 – Cármenes Project: Providencia Target - geology map showing the historical mine workings, drillholes and cross-section locations (A-A’ - Figure 2; B-B’

– Figure 3) (CNW Group/Pan Global Resources Inc.)

Figure 2 – Cross section A-A’ for drillhole PVD03 (drillhole PVD02 and historical mine workings projected on the section) (CNW Group/Pan Global Resources

Inc.)

Figure 3 – Cross section A-B’ for drillhole PVD04 (drillhole PVD02 and historical underground mine workings projected on the section) (CNW Group/Pan Global

Resources Inc.)

Table 1

– Providencia Drill Results Summary

Drillhole

From

Interval

g/t

ppm

PVD03

0.0

2.0

2.00

0.22

4050

666

1663

29.0

85.0

56.0

0.37

including

64.0

85.0

21.0

0.75

Including

64.0

68.0

4.0

1.22

Including

75.0

85.0

10.0

1.05

including

81.0

85.0

4.0

2.19

PVD04

8.0

118.0

110.0

0.23

564

134

241

including

11.0

25.0

14.0

0.51

Including

19.0

20.0

1.0

1.08

including

24.0

25.0

1.0

1.30

552

195

852

including

71.0

75.0

4.0

0.59

10468

2193

2206

including

77.0

78.0

1.0

2.05

including

91.0

92.0

1.0

1.09

150

including

113.0

115.0

2.0

0.21

7980

2335

6030

All intercepts are reported as downhole drill widths. There is insufficient drilling to constrain the geometry to determine true width.

Table 2

–Drillhole Collar Information

Hole ID

Easting

Northing

Azimuth (º)

Dip (º)

Length (m)

PVD03

287513

4761181

10.0

-36.0

161.6

PVD04

287514

4761183

353.0

-39.5

166.4

Coordinate system: UTM30N ERTS89

About the Cármenes Project

The Cármenes Project is located approx. 55km north of León in northern

Spain

and comprises five Investigation Permits over 5,653 hectares. The Project area is

highly prospective for multiple bodies or "clusters" of carbonate-hosted "pipe-like" breccia style copper, nickel, cobalt, and gold mineralization. The area includes

the former Profunda and Providencia mines that last operated in the 1930s, producing concentrates of copper and cobalt with nickel. Numerous other smaller

historical mine workings in the area highlight potential for additional breccia pipes. These types of ore deposits can have significant vertical dimensions exceeding

1km.

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 is located 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 also an area with a long mining history and excellent

infrastructure. The Pan Global team comprises proven talent in exploration, discovery, development, and mine operations - all of which are 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.

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.

QA/QC

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

core length and ranged from 0.5 to

. 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, platinum and palladium analysis was by 50gm fire assay with ICP finish (method Au-ICP-24) and multi

element analysis was undertaken using a 4-acid digest with ICP AES finish (method ME-ICP-61). Over grade base metal results were assayed using a 4-acid

digest ICP AES (method OG-62).

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.

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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, www.panglobalresources.com

CO: Pan Global Resources Inc.

CNW 07:15e 18-JUN-25

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