Copper

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Pan Global Resources

TSXV:PGZ

Developing High-Grade Copper and Polymetallic Deposits in Spain

Company Highlights

  • Pan Global’s exploration activities are focused on the mining friendly jurisdiction of Andalucia, Spain
  • Flagship Escacena project is located in Spain’s Iberian Pyrite Belt, a world-class VMS district host to at least 9 ore deposits and several operating mines.
  • The Iberian Pyrite Belt hosts several exploration and mining companies, such as Lundin, Grupo Mexico, First Quantum, Trafigura, Mubadala, Atalaya and juniors including Avrupra Minerals, Ascendant Resources and Emerita Resources
  • Escacena project includes the recent La Romana copper-tin-silver discovery and several other large untested targets
  • Escacena project is located adjacent to the Aznalcollar-Los Frailes mines and only 12 kilometers from the active Cobre Las Cruces mine, one of the highest grade open pit copper mines in the world
    Aguilas project has returned high-grade drill intervals up to 16.85 percent lead, 1.9 percent zinc and 85 g/t silver
  • Pan Global’s strong management team has a track record of discoveries in Spain and brings decades of resource industry experience and expertise to the company
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​Overview

Spain’s diverse geological resources and deposits position it as the world’s third largest producer of copper ore, the leading producer of spar-fluorine and one of only four states that produce nickel ore. The provinces of Huelva and Seville in Spain are hosts to the Iberian Pyrite Belt - one of the world’s great regions hosting metallic mineral deposits where over 2,000 million tonnes of ore has been extracted.

Pan Global Resources (TSXV:PGZ,OTC:PGNRF) is a junior resource company in pursuit of base and precious metals projects in Spain. The company’s flagship Escacena project is located in southern Spain’s Iberian Pyrite Belt, a world-class volcanogenic massive sulfide (VMS) district that hosts at least nine giant VMS ore deposits (>100 million tonnes) and several operating mines.

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Overview

Spain’s diverse geological resources and deposits position it as the world’s third largest producer of copper ore, the leading producer of spar-fluorine and one of only four states that produce nickel ore. The provinces of Huelva and Seville in Spain are hosts to the Iberian Pyrite Belt - one of the world’s great regions hosting metallic mineral deposits where over 2,000 million tonnes of ore has been extracted.

Pan Global Resources (TSXV:PGZ,OTC:PGNRF) is a junior resource company in pursuit of base and precious metals projects in Spain. The company’s flagship Escacena project is located in southern Spain’s Iberian Pyrite Belt, a world-class volcanogenic massive sulfide (VMS) district that hosts at least nine giant VMS ore deposits (>100 million tonnes) and several operating mines.

Escacena and Aguilas projects

Pan Global’s land package in the Iberian Pyrite Belt totals approximately 5,760 hectares and lies directly adjacent to the Aznalcollar (>70 million tonnes) and Los Frailes (>90 million tonnes) deposits. The Escacena project is also located only 12 kilometers from the active Cobre Las Cruces mine (42 million tonnes at 2.95 percent copper) which has mining grades of more than 5 percent copper in the open pit. Pan Global is currently focusing on two targets at Escacena, the La Romana massive sulfide copper deposit and the Cañada Honda gravity anomaly. Recent drill results at the La Romana target have returned high multi-metal (copper, tin, silver, zinc) grades from near surface with every hole hitting mineralization indicating the potential for a large size deposit. Escacena’s exceptional land position, great infrastructure and multiple large untested targets make it an exciting prospect for the company.

High Priority Targets at Escacena

New High Priority Exploration Targets at the Escacena Project

Pan Global has been exploring the Aguilas project since 2017 which comprises more than 16,000 hectares in northern Andalucia, Spain. The Aguilas project contains several major faults and breccia structures with indications of hematite-dominant iron oxide copper-gold (IOCG) and polymetalic lead-zinc-silver mineralization.

Company Highlights

  • Pan Global’s exploration activities are focused on the mining friendly jurisdiction of Andalucia, Spain
  • Flagship Escacena project is located in Spain’s Iberian Pyrite Belt, a world-class VMS district host to at least 9 ore deposits and several operating mines.
  • The Iberian Pyrite Belt hosts several exploration and mining companies, such as Lundin, Grupo Mexico, First Quantum, Trafigura, Mubadala, Atalaya and juniors including Avrupra Minerals, Ascendant Resources and Emerita Resources
  • Escacena project includes the recent La Romana copper-tin-silver discovery and several other large untested targets
  • Escacena project is located adjacent to the Aznalcollar-Los Frailes mines and only 12 kilometers from the active Cobre Las Cruces mine, one of the highest grade open pit copper mines in the world
    Aguilas project has returned high-grade drill intervals up to 16.85 percent lead, 1.9 percent zinc and 85 g/t silver
  • Pan Global’s strong management team has a track record of discoveries in Spain and brings decades of resource industry experience and expertise to the company

Key Projects

Escacena Project

In June 2017, Pan Global Resources acquired the Escacena project. The project hosts two large gravity anomalies, La Romana and Cañada Honda. Historical wide-spaced drilling at the La Romana gravity anomaly confirmed massive sulfide and stockwork mineralization including the best drill interval of 4.68 meters at 2.94 percent copper.

Escacena project

Exploration

Pan Global Resources began its initial exploration of the Escacena project in early 2019, including gravity, induced polarity (IP) and geochemical surveys. The results of this initial exploration work confirmed the La Romana and Cañada Honda gravity targets, allowing the company to move forward with drilling.

Pan Global Resources commenced drilling in July 2019, testing shallow IP targets previously identified at the La Romana and Cañada Honda targets. In 2022, Pan Global implemented a 20,000 meters multi-target drill program testing shallow strike extensions at La Romana and identifying new targets including the Zarcita, Canada Honda, La Jarosa, and Hornitos. The drilling has successfully defined the southern margin of the La Romana mineralization showing supergene copper mineralization.

Pan Global continued its exploration of Escacena in 2020 including geochemistry and geophysics designed to identify new targets on the property. The second phase of drilling commenced in February and included the first step out drill holes at the La Romana copper target. The new drill holes intersected copper mineralization over wide intervals and showed the mineralization extends from near surface over several hundred meters of strike and shows copper in several layers open in most directions. Pan Global’s own geophysics results and historical geophysics by Exxon indicate a potential for the copper mineralization to continue more than 2 kilometres along strike.

Pan Global Resources extended its holdings at the Escacena project through the acquisition of the rights to the “Al Andalus” property investigation permit and completed the acquisition of the property in early 2020. Al Andalus is located adjacent to the company’s initial holdings at Escacena and includes potential eastern extensions to the company’s La Romana prospect and several large untested gravity anomalies. The property comes to within 600 meters of the edge of the Aznalcollar open pit and also includes both the historical mining areas of the El Pozo and La Zarcita, and the La Jarosa target where a historical drill hole by Exxon in the mid-1980’s returned 9.5 meters at 1.42 percent. Exploration will commence on the Al Andalus property as soon as permitted.

Aguilas Project

Aguilas project

The Aguilas project comprises nine investigation permits covering a total of 16,300 hectares in northern Andalucia, Spain. The main targets on the property are major cross-cutting fault zones in the Pedroches Batholith, including the Torrubia and Zumanjo trends. The project hosts IOCG-style copper mineralization along the Torrubia copper trend, which was drilled by the company in 2019 and confirmed wide zones of breccia over several kilometers of strike length.

Drill holes on the Zumajo trend targeted high grade polymetallic (lead, zinc, silver and lesser copper and gold) vein or breccia mineralization. Several shallow historical mine shafts and ancient workings occur along both trends.

Pan Global first began drilling on the Aguilas project in April 2019, and so-far completed 27 wide-spaced drill holes totaling 3,908 meters. This includes thirteen holes along 4.1 kilometers of the more than 20 kilometer long Zumajo lead-zinc-silver trend and 14 drill holes along three sections of the more than 10 kilometer long Torrubia trend.

On the Zumajo trend, high-grade polymetallic mineralization was intersected with an 8 to 20- meter-wide, steeply-dipping zone of multi-stage breccia and veins. High-grade intervals included hole VAC-02 with 14.85 percent lead, 0.11 percent zinc, 67.1g/t silver (16.91 percent lead equivalent or 634g/t silver equivalent) over 1.3 meters and hole VAC-06 with up to 16.85 percent lead, 1.9 percent zinc and 85 g/t silver (22.15 percent lead equivalent or 815 g/t silver equivalent) over 0.6 meters. The drill results show potential for a significant zone of high-grade lead, zinc and silver mineralization near the San Luis and San Cayetano mine workings over several kilometers of strike and open at depth. Several other targets along the Zumajo trend require testing.

Drilling conducted at the Torrubia trend included 40 to 90-meter-wide intervals of intense multi-stage breccia and hematite-quartz-carbonate alteration over several kilometers of strike. The best grades at Torrubia included 2.65 percent copper, 125ppm cobalt and 3 g/t silver (2.76 percent copper equivalent) over 0.8m and 1.65 percent copper, 240ppm cobalt and 2.1 g/t silver (2.05 percent copper equivalent) over 0.7m in drill hole TOR-001; and 3m at 1.16g/t gold from 74m, including 0.8m at 3.48g/t gold and 1.5g/t silver in drill hole TN-06. The breccia includes fragments or casts with high contents of chalcopyrite and hematite indicating an early copper mineralizing stage and further potential both along-strike and at depth.

Management Team

Patrick Evans - Chairman and Director

For over 30 years, Patrick Evans has enjoyed an exemplary career as a mining executive holding multiple senior management positions in the industry. Of note are CEO of Dominion Diamond Mines and Norsemont Mining and vice-president of Placer Dome Inc. He has extensive M&A experience and has helped a number of public mining companies discover and develop base metals, precious metals, and diamond mining projects on four continents. Evans is a graduate of the University of Cape Town and served as consul-general of South Africa to Canada.

Andrew Marshall - Chief Financial Officer

Andrew Marshall is a chartered accountant and chartered financial Analyst with more than 11 years of finance and CFO experience in the mining sector. He has an extensive background in financial and risk management; corporate reporting, ESG management; M&A transactions and working with international jurisdictions. Most recently, he served as chief financial officer at First Mining Gold Corp. and assisted in building the company's gold project portfolio during its initial period of growth in 2015 when it acquired eight companies in just over one year. Prior to this, Marshall held finance roles at two Vancouver based TSX/NYSE MKT-listed silver mining companies with operations in Mexico and Canada. Marshall started his career with PricewaterhouseCoopers LLP in London and moved to Vancouver in 2008.

Jim Royall - Vice President Exploration

Jim Royall has worked in the mining industry for over 20 years on early stage and advanced exploration projects for a diverse range of commodities in Europe, Asia, Africa and South America. This includes 10 years with Rio Tinto and senior management positions for various junior mining companies. Royall has lived in Spain for many years and has extensive experience throughout the Iberian Peninsula where he has managed a number of important exploration and development projects. Royall has a bachelor of science degree in geology from Oxford Brookes University, is a member of the Australian Institute of Geoscientists (AIG) and served as a qualified person for several mineral exploration companies.

Tim Moody - Director

Tim Moody has over 30 years of experience in the mining industry including mineral exploration, resource assessment, business development and strategy. He spent 24 of those years with Rio Tinto, where he held the posts of exploration director, vice-president and director of business development. Moody has a bachelor of science in geology and geophysics (honours) from the University of New England. He is a graduate of the senior leadership program from the London Business School, a graduate of the business leadership development program from the Australian Graduate School of Management and a ellow of the Society of Economic Geologists.

Directorships: Pan Global Resources, Prism Resources, Indico Resources and Xiana Mining.

Brian Kerzner - Director

Brian Kerzner has over 25 years of experience as a successful entrepreneur in the retail and real estate industries. He is the founder and president of Rocky Mountain Chocolate Factory Canada Inc. and he established several private companies that have completed extensive residential and commercial developments throughout North America. Kerzner has been broadly involved in providing seed capital for many successful public and private companies in the resource, environmental, and technology sectors. Kerzner is a graduate of the University of Toronto bachelor of commerce (honours) program. He is a member of British Columbia’s Children’s Hospital Circle of Care and is actively involved in many other charitable organizations.

Directorships: Pan Global Resources, Prism Resources Inc and Indico Resources.

Patrick Downey - Director

Patrick Downey brings over 25 years of international experience in the resource industry and he is currently president and CEO of Orezone. His past senior positions include president and CEO of Aura Minerals Inc. and Viceroy Exploration Ltd. before its acquisition by Yamana Gold Inc. in 2006 for $600 million. He also negotiated the successful merger of Consolidated Trillion Resources Ltd and Oliver Gold Corporation that became Canico Resource Corp, which was purchased by CVRD in 2006 for over $800 million. Downey holds a BSc (honours) degree in Engineering from Queens University in Belfast, Ireland.

Directorships: Orezone and Pan Global Resources

Bob Parsons - Director

As a chartered professional accountant and partner at PricewaterhouseCoopers, Bob Parsons spent 34 years heading up the firm’s global mining practice. He has advised governments around the world on mineral policy matters and has served on the boards of the PDAC, Indonesian Mining Association, Canada Indonesia Chamber of Commerce, World Mines Ministries Forum, Canadian Minerals Industry Federation, Advisory Council of the Centre for Resource Studies at Queens University, and the Professional Advisory Board of the Government of Canada’s Petroleum Monitoring Agency. In 2005, the PDAC presented Parsons with their Distinguished Services Award, and in 2013 the Government of Canada awarded him the Queen Elizabeth II Diamond Jubilee Medal for his contribution to Canada’s mining industry. Parsons is a graduate of McGill University (B.Com).

Directorships: Pan Global Resources, Kennady Diamonds Inc, Indico Resources Ltd, Prism Resources Inc.

Juan Garcia Valledor - General Manager Spain

Juan Garcia Valledor brings over 27 years of project development, open pit mining and operational experience from mine design to mine closure in Spain. This includes previous roles as operations manager at Rio Tinto's talc mining operations, re-opening of the Alquife iron ore open pit mine in Granada and, most recently, as operations manager at W Resources La Parrilla tungsten and tin mine going from development to production. Garcia Valledor was awarded a degree in Mining Engineering (MEng) in 1991, Master's Degree (MBA) in Occupational Risk Prevention in 2005 and Diploma in Business Administration in 2007.

Michael Westcott - Advisor

Michael Westcott is a capital markets professional with wide-ranging experience in senior management, team leadership, institutional sales and mining equity research. Westcott retired from Raymond James Ltd. in 2021 as head of equities following a 25-year career with the firm. Westcott was awarded a bachelor of science, geology degree in 1988 and a master's degree, Mineral Exploration (Minex) in 1991.

*Disclaimer: This profile is sponsored by Pan Global Resources ( TSXV:PGZ ). This profile provides information which was sourced by the Investing News Network (INN) and approved by Pan Global Resources in order to help investors learn more about the company. Pan Global Resources is a client of INN. The company's campaign fees pay for INN to create and update this profile.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Pan Global Resources and seek advice from a qualified investment advisor.

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