• Saw-cut sampling returned 20.2 g/t gold over 5.0 meters at surface confirming higher grades well beyond the historical Providencia mine workings
• Discovery of extensive sulphide and hematite breccia exposed at the newly accessed 1,438m Level of mine workings indicates the system is widening and open at depth
• Further underground and surface sampling in progress
• Drill program expanded to eight drillholes
• Ongoing district-scale exploration at more than 25 high-priority targets across the Cármenes Project area

Pan Global Resources Inc. (TSX-V: PGZ) (OTCQB: PGZFF) (FRA: 2EU) is pleased to announce new twin saw-cut channel sampling at surface has verified high-grade gold mineralization, returning 20.2 g/t gold over 5.0 meters. Underground mapping of historical mine workings has confirmed a substantial widening of the mineralized system at depth at the Providencia target, within the Cármenes Project on the southeastern extension of the Rio Narcea Gold Belt in northern Spain.

“The verification of 20 g/t gold at surface and confirmation of the scale of the extensive sulphide and hematite breccias at the 1,438m Level represent a significant advancement for the Cármenes Project,” said Tim Moody, President and CEO. “We are seeing clear evidence that the gold and copper-nickel-cobalt system is growing as we go deeper and it remains wide open for expansion in several directions. With plans to investigate up to 25 additional targets at Cármenes, we are no longer just looking at just a single deposit at Providencia but are focused on exploring a significant mineral district.”

Higher confidence systematic twin saw-cut channel sampling has verified and upgraded the previously reported chip sample results of 15 g/t Au over 6m (see March 25, 2026 media release). These latest results include a new bonanza-grade assay at Providencia of 51.2 g/t gold and 1.9 g/t platinum and palladium over 1m. The new channel is approximately one meter uphill from the previous sampling traverse and 70 meters east of the projected surface footprint of the Providencia underground workings (see Figure 1 below).

Table 1 – Providencia Continuous Channel Sampling Results

In light of these additional high-grade results, the Company has expanded the current Providencia drill program to eight drillholes for an estimated 1,200 meters. The drill rig is currently testing potential extensions and structural controls of copper-cobalt-nickel sulphide and high-grade gold mineralization.

A detailed program of 800 saw-cut channel samples is currently underway within a newly exposed underground tunnel at the 1,438-meter elevation level in the historical Providencia mine workings. The sampling program is intended to evaluate continuity of the mineralized system and refine the structural model. The new sampling and mapping have identified extensive sulphide-rich breccia and hematite breccia, which are the primary host rocks for copper, cobalt, nickel and gold at Providencia. Over 180 meters of breccia has been mapped in the walls of the accessible mine workings at the 1,438-meter level. This represents a significant widening of the system footprint to more than 100m x 60m, open laterally and at depth, approximately 30 meters vertically beneath the previously sampled 1,467-meter elevation level (see August 20, 2025 media release).

Results from both the drill program and underground channel sampling will be released as they become available.

District-Scale Program: 25+ Targets Identified

Pan Global is currently also advancing regional exploration at Cármenes where over 25 high-priority targets have been identified, including:

• Providencia western extension: Soil geochemistry is expanding the Providencia footprint up to 300 meters to the west of the previous sampling, targeting lateral extensions of the known breccia system.
• Profunda Target: Mapping and systematic geochemical sampling are active over the historical Profunda mine located one kilometre south of Providencia.
• Surface soil sample geochemistry and mapping programs: Focused on other targets selected from the interpretation of geophysics, structural and geological data and where there is evidence of historical mining.

About the Cármenes Project

The Cármenes Project is located on the southeastern extension of the Rio Narcea Gold Belt approx. 55km north of León and comprises five Investigation Permits over 5,653 hectares held 100% by Pan Global. The Project area is highly prospective for multiple bodies or “clusters” of carbonate-hosted hydrothermal breccia style copper, nickel, cobalt, and gold mineralization. The area includes the former Profunda and Providencia mines that last operated in the 1930s, producing concentrates of copper and cobalt with nickel. Numerous other smaller historical mine workings in the area highlight the potential for additional breccia mineralization. These types of ore deposits can have significant vertical dimensions exceeding 1km. The Company’s maiden drill program in 2025 at the Providencia target yielded a new gold discovery.

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.