Mr. Jason Mercier reports

PAN GLOBAL SUCCESSFUL IN BID FOR RIGHTS TO SALAMÓN GOLD PROJECT, SPAIN

Pan Global Resources Inc.'s tender bids for the Salamon gold project, submitted through its two subsidiaries in Spain, has been accepted by the Regional Directorate General of Energy and Mines, subject to a continuing appeal. The Salamon project comprises two mineral exploration permits covering 19 mining grid units totalling approximately 532 hectares in the Leon province of Northern Spain. The rights were secured through a competitive public tender process conducted by the regional authorities of Castile and Leon.

The Salamon project is located along the 100-kilometre-long Leon fault, a major deep-seated structural corridor that has historically hosted numerous high-grade mineral occurrences. It is 30 kilometres east of Pan Global's recent high-grade gold discovery at the Carmenes 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 Inc.

Pan Global Resources 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 Canada Honda copper-tin-gold mineral resources, is in the prolific Iberian pyrite belt in southern Spain, where a favourable permitting record, excellent infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a Tier 1 low-risk jurisdiction for mining investment.

The company's second project, at Carmenes 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 the company's partnered communities. The company is a member, and operates under the principles, of the United Nations Global Compact.

Qualified person

Alvaro 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.

We seek Safe Harbor.