Pan Global Resources Inc. Announces Letter of Intent for Acquisition of Balkans Exploration Licenses

Pan Global Resources Inc. (TSX VENTURE:PGZ) announced that it has entered into a letter of intent dated July 29, 2010 with Lithium Li doo , wherein the Company has been granted an option to earn an initial undivided 51% interest in exploration licenses for the Jadar West, Voljevo and Lopare mineral prospects (together the “Balkans Properties”), with further options to earn an undivided 65% or an undivided 80% interest in the exploration licenses, together with any property, title or concession rights earned by Lithium Li.

The press release is quoted as saying:

Lithium-Li has submitted applications to the Ministry of Energy and Mining, Republic of Serbia, for the grant of exploration licenses to conduct mineral exploration work on the Jadar West and Valjevo concessions, located within 100 miles of Belgrade, Republic of Serbia. Lithium-Li has prepared and intends to submit an application to the Ministry of Energy and Mining, Republic of Bosnia, for the grant of exploration licenses to conduct mineral exploration work on the Lopare concession.

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