Pan Global Welcomes Approval of Grupo Mexico'S Adjacent Los Frailes MINE
PAN GLOBAL WELCOMES APPROVAL OF GRUPO MEXICO'S
ADJACENT LOS FRAILES MINE
TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU
Pan Global's Escacena Project strategically located adjacent to
Minera Los Fraile
s Mine
VANCOUVER, BC
,
June 3, 2025
/CNW/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB:
PGZFF) (FRA: 2EU) today acknowledges the approval by the Government of Andalucia of the restoration plan and exploitation permit
for Minera Los Frailes to develop the
Los Frailes
underground mine adjacent to Pan Global's 100%-owned flagship Escacena Project
("Escacena") in southern
Spain
. Minera Los Frailes is owned by Grupo México (97.31%), and Magtel (2.69%). Grupo México is the
fourth-largest copper producer by volume globally.
The granting of the exploitation permit reaffirms Andalucia's status as a Tier-1 global mining jurisdiction. The
Los Frailes
zinc, copper,
lead and silver mining project is expected to generate significant investment and employment in the region.
"This milestone for our neighbors at Minera Los Frailes highlights the strength of the permitting environment in Andalucia and
underscores the strategic location of our 100%-owned Escacena Project," said
Tim Moody
, President and CEO of Pan Global. "With
our La Romana copper discovery located just west of the planned
Los Frailes
mine, Pan Global is uniquely positioned to benefit from
increased regional investment, infrastructure upgrades, and other synergies. The
Los Frailes
mine will be a significant new mine
development, with an anticipated 20-year mine life, and a plant producing zinc, lead, and copper concentrates."
La Romana hosts a near-surface copper-tin-silver deposit with outstanding metallurgy and characteristics favorable to potential open pit
development, supporting Pan Global's strategy to advance a significant, low-cost, and sustainable copper project within a Tier-1 mining
district. The La Romana deposit remains open for expansion in several areas and significant upside is also represented by the many
other targets in the Escacena Project area.
A multi-target drill program is continuing at Escacena as drilling is set to resume at the high priority
Bravo
target after a short pause for
the local wheat harvest. The next round of step-out drillholes is being finalized at La Romana, targeting higher-grade extensions of
mineralization. Results are also anticipated within the next two weeks from the ongoing drill program in the Cármenes Project in
northern
Spain
where near-surface high-grade gold mineralization has been reported from the Company's first drillhole (see the
May
19, 2025
media release
).
Figure 1: Map showing the Escacena Project and neighbouring Minera Los Frailes Project area, highlighting proximity of Pan Global’s
La Romana deposit and the two former open pit mines at Aznalcóllar and Los Frailes. (CNW Group/Pan Global Resources Inc.)
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.
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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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 07:30e 03-JUN-25