PAN GLOBAL GRADUATES TO OTCQX VENTURE MARKET IN THE UNITED STATES

TSXV: PGZ | OTCQX: PGZFF

Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) is pleased to announce that the Company has qualified for trading on the OTCQX Best Market operated by OTC Markets Group Inc. in the United States.

The Company's common shares trade under the symbol "PGZFF" on the OTCQX and under the symbol "PGZ" on the TSX Venture Exchange (the "TSX-V").

"The upgrade to OTCQX is a milestone for Pan Global as the Company continues to make inroads into the U.S. market," said Andy Marshall , CFO of Pan Global. "Pan Global is exposed to a larger portion of the U.S. investment community with the graduation to the OTCQX. The Company's goal is to build a broader awareness of its advanced copper-tin-silver discovery at the Escacena Project, located in the prolific Iberian Pyrite Belt in the south of Spain . Pan Global is enhancing shareholder value with an ongoing multi-target drilling and exploration program and continues to identify additional mineralization."

U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com .

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for Pan Global and builds visibility among U.S. investors.

The 2023 Escacena Project plan is being executed on schedule and includes more than 50 additional drill holes at Escacena. Surface access to Romana West was achieved in June and initial indications are the La Romana mineralization continues in the 850-meter-long geophysical target as an extension of the 1.2km La Romana mineralization. Multiple additional targets have been identified and remain to be tested.

Near-term catalysts for 2023 include:

• Publishing assay results from exploration drilling at La Romana and Romana West as well as Cañada Honda and Zarcita targets (located 4 km north of La Romana)
• Gaining access to Romana East to test a highly prospective geophysical area at the Bravo target
• Issuing results from ongoing La Romana tin metallurgy testwork
• Testing additional drill targets from ongoing exploration

The Escacena Project comprises a large, contiguous, 5,760-hectare land package controlled 100% by Pan Global in the east of the Iberian Pyrite Belt. Escacena 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 start in 2023. The Escacena Project hosts the La Romana copper-tin-silver discovery and a number of other prospective targets, including Zarcita, Hornitos, La Jarosa, Romana Deep , Romana North , Romana West , Cañada Honda, Bravo, Barbacena, El Pozo, and San Pablo.

Pan Global Resources Inc. is actively targeting copper-rich mineral deposits, given copper's compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. The Company's flagship Escacena Project is located in the prolific Iberian Pyrite Belt in southern Spain , where infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one jurisdiction for mining investment. The Pan Global team comprises proven talent in exploration, development, and mine operations - all of which are committed to operating safely and with utmost respect for the environment and our partnered communities.

On behalf of the Board of Directors

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 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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