PGZ.V · 2025-12-19 12:00:00

Pan Global Step-Out Drilling Extends LA Romana Deposit at Escacena Project, Southern Spain

Exploration Programs

PAN GLOBAL STEP-OUT DRILLING EXTENDS LA ROMANA DEPOSIT

AT ESCACENA PROJECT, SOUTHERN SPAIN

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

Highlights include 1.26% copper, 0.01% tin, 2.3 g/t silver over 6 meters and 1.01% copper, 0.16% tin, 4.5 g/t silver over 5 meters

Downhole electromagnetics indicates that higher-grade La Romana copper mineralization extends and plunges to the northwest a

further 125 meters

Maiden Escacena Mineral Resource Estimate progressing and to be announced upon completion

VANCOUVER

, BC

Dec. 19, 2025

/CNW/ -

Pan Global Resources Inc.

("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) (FRA:

2EU) is pleased to announce positive results for six step-out drillholes at the La Romana target ("La Romana"), in the Company's 100%-owned

Escacena Project ("Escacena") in the Iberian Pyrite Belt, southern

Spain

. These drillholes targeted extensions of the mineralization for inclusion in a

maiden Mineral Resource Estimate. A total of 192 drillholes totalling 38,734 meters have been drilled to date at the La Romana copper-tin-silver

deposit.

Drill highlights

Drillhole

LRD189

2.0m

at 1.63% CuEq

(1.55% Cu, 0.01% Sn, 11.2 g/t Ag) from 86m,

and

5.0m

at 1.46% CuEq

(1.01% Cu, 0.16% Sn, 4.5 g/t Ag) from

185m

, including

1.0m

at 3.02% CuEq

(2.47% Cu, 0.19% Sn, 9.2 g/t Ag)

Drillhole

LRD191

6.0m

1.31% CuEq

(1.26% Cu, 0.01% Sn, 2.3 g/t Ag) from

122m

, including

1.0m

4.77% CuEq

(4.63% Cu, 0.03% Sn, 9.6 g/t Ag)

"The La Romana mineralized trend shows excellent continuity extending over 1.7km east-west. The latest drill results extend the higher-grade copper-tin

mineralization down-dip, confirming that it remains open to the north and northwest. Copper mineralization identified in the hanging wall and footwall of

the main mineralization body could potentially be captured in a conceptual open pit. Additional step out drilling planned for 2026 is expected to further

extend the strike of La Romana mineralized trend," said

Tim Moody

, President and CEO.

The Company is progressing with the maiden Mineral Resource Estimate for the Escacena Project and will announce the results upon completion.

Key results:

Step-out drilling focused on testing for extensions of higher-grade copper mineralization down-dip and along strike to further delineation of the

deposit for a maiden resource

The results confirm copper-tin mineralization continues and extends down-dip on several sections

Drillholes

LRD191

with 1.26% Cu over

, and

LRD189

with 1.01% Cu, 0.16% Sn, 4.5 g/t Ag over

, both confirm the high-grade copper and tin

mineralization continues a further

50m

down-dip and remains open

Results also confirm additional near-surface copper intercepts in the hanging wall and in the footwall to the main mineralization

Higher-grade copper mineralization in the western extension is indicated to plunge to the northwest a further

125m

based on downhole

electromagnetics

Figure 1 – La Romana gravity anomaly map showing locations of new drillholes LRD187 to LRD192, and cross-section locations A-A’ (Figure 2) and B-

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

Figure 2 – La Romana Cross Section A - A’ highlighting new drillhole LRD191, and confirming continuation of the higher-grade copper mineralization,

open at depth (CNW Group/Pan Global Resources Inc.)

Figure 3 – La Romana Cross Section B - B’ highlighting new drillhole LRD189, and confirming continuation of the higher-grade copper mineralization

(open at depth) and additional copper intercepts in the hanging wall above the main mineralization (CNW Group/Pan Global Resources Inc.)

Table 1

– Selected Drill Results from La Romana (

LRD187

LRD192

); intervals are downhole lengths; all holes approx. true thickness

Drillhole

From

Interval

CuEq

g/t

ppm

LRD187

104.00

107.00

3.00

0.44

0.41

0.01

1.2

including

106.00

107.00

1.00

1.14

1.09

0.02

2.2

143

and

142.00

147.00

5.00

0.20

0.18

0.01

<0.5

LRD188

40.0

43.0

3.00

0.25

0.24

<0.01

1.3

and

89.0

94.0

5.00

0.28

0.26

0.01

0.5

and

147.0

150.0

3.00

0.47

0.33

0.05

0.8

and

164.0

180.0

16.00

0.26

0.03

0.08

<0.5

including

172.0

180.0

8.00

0.34

0.05

0.11

<0.5

and

188.0

189.55

1.55

0.18

0.15

0.01

<0.5

LRD189

0.30

0.29

<0.01

1.2

and

0.47

0.45

<0.01

2.2

192

248

and

1.63

1.55

0.01

11.2

613

and

0.38

0.36

0.01

1.4

109

and

185

190

1.46

1.01

0.16

4.5

318

932

including

189

190

3.02

2.47

0.19

9.2

162

620

LRD190

155

170

0.18

0.15

0.01

0.5

LRD191

0.35

0.31

<0.01

6.4

573

1300

and

122

128

1.31

1.26

0.01

2.3

108

including

127

128

4.77

4.63

0.03

9.6

217

and

171

177

0.41

0.31

0.04

0.4

LRD192

0.86

0.83

<0.01

2.9

106

including

1.06

1.03

<0.01

3.6

105

and

214

222

0.31

0.27

0.01

1.6

145

434

and

220

222

0.34

0.32

0.00

1.8

432

and

249

270

0.25

0.17

0.03

2.2

248

690

including

249

253

0.56

0.34

0.07

4.6

556

1261

including

268

269

1.22

1.10

0.04

3.9

210

577

Copper Equivalent = CuEq. CuEq is calculated using Cu, Sn, and Ag grades. Metallurgical recoveries include 86% for Cu, 68% for Sn and 56% for Ag, based on preliminary studies performed by Wardell Armstrong International and MinePro. The CuEq calculation

uses US$8,693/tonne Cu, US$ 29,069/tonne Sn and US$23.72/oz Ag, corresponding to the three-year monthly price averages to July 2023. The effective formula is [CuEq %] = [Cu %] + 2.6440 * [Sn %] + 0.0057 * [Ag ppm]

Table 2

–Drillhole Collar Information (Total

1,525.20m

)

Hole ID

Easting

Northing

Azimuth (º)

Dip (º)

Length (m)

LRD187

735722

4152959

180

-55

220.70

LRD188

735515

4153031

180

-55

189.55

LRD189

736394

4152863

180

-66

283.70

LRD190

736136

4152852

180

-60

293.20

LRD191

735822

4152926

210

-70

220.50

LRD192

736666

4152851

180

-55

317.55

Coordinate system: UTM29N ERTS89

About

the Escacena Project and Escacena South areas

The Escacena Project and recently added Escacena South area comprises a large, contiguous mineral rights land package controlled 100% by Pan

Global in the east of the Iberian Pyrite Belt. The area has been expanded from 5,760-hectares to more than 10,000-hectares with the award of the

Flores, Rosario and Girasoles mineral rights in

September 2025

. Pan Global has also submitted four additional Investigation Permit applications

covering 3,888-hectares (Inmaculada,

Santa Isabel

Santa Micaela

I and

Santa Micaela II

) that will further increase the mineral rights holdings in the

Iberian Pyrite Belt to more than 13,900-hectares. Escacena is located near the operating mine at Riotinto 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 hosts Pan Global's La Romana copper-tin-silver deposit, the Cañada Honda copper-gold discovery,

and a number of other prospective targets.

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 in the prolific Iberian Pyrite Belt mine trend 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.

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

Qualified Persons

Álvaro Merino, Vice President Exploration for Pan Global Resources, is the Qualified Person as defined by National Instrument 43-101. Mr. Merino

holds a BSc in Geology, is a Mining Technical Engineer, and a registered member of the European Federation of Geologists (EFG), with the EuroGeol

designation. He has reviewed and approved the scientific and technical information in this media release. Mr. Merino is not independent of the

Company.

Sampling details and 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). Multi

element analysis was undertaken using a four

acid digest with ICP

AES finish (method

ICP61). Over

grade base metal results were assayed using a four

acid digest with ICP

AES (method OG

62). Tin (Sn) were analyzed by lithium

borate fusion with ICP

MS finish (method MS85), which provides a total digestion of resistant mineral phases.

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.

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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

CO: Pan Global Resources Inc.

CNW 08:30e 19-DEC-25

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