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Pan Global Resources Inc. ("Pan Global" or the "Company") (TSX-V: PGZ; OTCQB: PGZFF; FRA: 2EU) is pleased to announce that the Company's tender bids for the Salamón Gold Project, submitted through its two subsidiaries in Spain, has been accepted by the regional Directorate General of Energy and Mines, subject to an ongoing appeal. The Salamón Project comprises two mineral exploration permits covering 19 mining grid units totalling approx. 532 hectares in the León Province of Northern Spain. The rights were secured through a competitive public tender process conducted by the regional authorities of Castile and León.
The Salamón Project is located along the 100-km-long León Fault, a major deep-seated structural corridor that has historically hosted numerous high-grade mineral occurrences. It is 30 km east of Pan Global's recent high-grade gold discovery at the Cármenes Project in an area with a mining culture and with access to power, road and rail.
The Company has been advised that another bidder has appealed the decision of the Directorate General and final acceptance of the Company's tender bid is subject to disposition of the appeal. While there can be no assurance regarding the outcome of the appeal, the Company is confident that its bid will be confirmed in due course.
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, hosting La Romana and Cañada Honda copper-tin-gold mineral resources, is 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 an area with a long mining history and excellent infrastructure. The Pan Global team comprises proven talent in exploration, discovery, development, and mining operations. Pan Global Resources is 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.
Qualified Persons
Álvaro Merino, Vice President Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has approved the scientific and technical information for this media release. Mr. Merino is not independent of the Company.
FOR MORE INFORMATION PLEASE CONTACT:
Jason Mercier, VP Investor Relations and Communications
jason@panglobalresources.com / investors@panglobalresources.com
Tel: +1-236-886-9518
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. This news release contains forward-looking statements, including statements regarding planned exploration activities, the potential to verify or convert historical mineral resource estimates, and the potential size or continuity of mineralization at the Project. Forward-looking statements are subject to risks and uncertainties that could cause actual outcomes and the Company's actual results to differ materially from those in such forward-looking statements, including risks related to exploration results, the ability to verify historical data, permitting, financing, commodity prices, and general economic conditions. 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.
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