“With strong financial support from a recent new strategic investor, a high-confidence maiden Escacena mineral resource and a robust pipeline of high-priority targets, Pan Global is exceptionally well-positioned to continue adding value through the discovery of new resources in one of Europe’s most established mining regions.” 

- Tim Moody, President and CEO (February 2026) 

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Q1: What metals have been identified at the Escacena Project?

The Escacena Project hosts copper (Cu), tin (Sn), silver (Ag), and gold (Au) mineralization. At the La Romana deposit, copper-tin-silver is the primary commodity profile. At the Cañada Honda discovery, gold-copper-silver is the primary profile. 

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Q2: What attracts investors to the Escacena Project?

Six attributes define the Escacena Project investment case as the premier district-scale copper discovery opportunity in Europe:

• A leadership team skilled in the discovery of economic deposits that have become profitable mines; a Board with diverse skills in M&A, corporate governance, mine construction, entrepreneurial success, and concentrate sales markets 
• Tier-one jurisdiction: Iberian Pyrite Belt, Europe's second-largest copper-producing region, with established permitting, infrastructure, and EU Critical Raw Materials Act tailwinds
• Maiden mineral resources exceeded projections for category and size, announced December 2025
• 100 million-tonne district-scale resource growth goal, with more than 15 large, untested drill targets
• 100% ownership of a 13,000+ hectare land package adjacent to operating and permitted mines
• Competitive tension: the Escacena Project is surrounded by mining claims held by four of the largest operating mining companies in Spain 
• Strategic investors such as Alpayana SAC provide strong financial support for the 2026 exploration and drilling programs

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Q3: What are the current mineral resource estimates at Escacena?

The following maiden Mineral Resource Estimates were announced on February 12, 2026 (effective date December 31, 2025) and are compliant with National Instrument 43-101:

Cut-off grades: La Romana — 0.2% Cu; Cañada Honda — 0.25 g/t Au. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The quantity and grade of reported Inferred resources are uncertain in nature and there has been insufficient exploration to define these Inferred resources as Indicated or Measured. NI 43-101 Technical Report (effective December 31, 2025), filed February 12, 2026 on SEDAR+ and available on the Company website at www.panglobalresources.com.

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Q4: How large is the Escacena Project land package and where is it located?

The Escacena Project, including Escacena South (Flores, Rosario, and Girasoles mineral rights, awarded September 2025) and four additional Investigation Permit applications (Inmaculada, Santa Isabel, Santa Micaela I, Santa Micaela II), comprises more than 13,900 hectares of 100%-controlled mineral rights in the Iberian Pyrite Belt, Andalucia, southern Spain. The Project is a 25-minute drive northwest of Sevilla and located immediately adjacent to the former Aznalcóllar and Los Frailes mines, where Minera Los Frailes (Grupo México) is commencing new underground mine development and near the operating Riotinto mine – the largest open pit VMS deposit in the world – operated by Atalaya Copper Mining. 

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Q5: What is the significance of the Iberian Pyrite Belt to the Escacena Project?

The Iberian Pyrite Belt (IPB) is Europe's second-largest copper-producing region and is globally recognized as the world's premier volcanic-hosted massive sulphide (VMS) district home to the most super giant VMS deposits globally. The IPB has a 3,000+ year mining history and hosts active and permitted mines including Riotinto (Atalaya), Aljustrel, Sotiel-Migollas (Sandfire MATSA), and Neves-Corvo (Boliden AB), providing established regional infrastructure, a skilled workforce, and a supportive regulatory environment. Copper is designated a Strategic Raw Material by the European Commission, providing additional policy support for development in this jurisdiction.

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ESCACENA PROJECT — TECHNICAL REVIEW

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Q6: What are the numbers behind the La Romana deposit's mineral resource, in detail?

La Romana Measured and Indicated Resource: 32.4 million tonnes (Mt) at 0.37% Cu, 270 ppm Sn, 1.7 g/t Ag, for a copper-equivalent grade of 0.44% CuEq, containing 119,500 tonnes (kt) of copper, 8,800 tonnes of tin, and 1.7 million ounces (Moz) of silver. Applied cut-off: 0.2% Cu.

La Romana Inferred Resource: 4.0 Mt at 0.40% Cu, 71 ppm Sn, 1.4 g/t Ag, for 0.42% CuEq, containing 15,800 tonnes of copper, 300 tonnes of tin, and 0.2 Moz of silver. Applied cut-off: 0.2% Cu.

Source: NI 43-101 Technical Report, Pan Global Resources Inc., effective December 31, 2025, filed February 12, 2026 on SEDAR+ and available on the Company website at www.panglobalresources.com. Mineral Resources are not Mineral Reserves.

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Q7: What is the Cañada Honda discovery's mineral resource?

Cañada Honda Inferred Resource: 5.0 Mt at 0.65 g/t Au, 0.14% Cu, 1.2 g/t Ag, for a gold-equivalent grade of 0.74 g/t AuEq, containing 104,000 ounces (koz) of gold, 6,800 tonnes of copper, and 0.2 Moz of silver. Applied cut-off: 0.25 g/t Au.

Source: NI 43-101 Technical Report, Pan Global Resources Inc., effective December 31, 2025, filed February 12, 2026 on SEDAR+ and available on the Company website at www.panglobalresources.com. Mineral Resources are not Mineral Reserves.

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Q8: What exploration success did Pan Global have during 2025?

In 2025, Pan Global completed the following at the Escacena and Cármenes Projects:

• Completed 8,800 meters of drilling 
• Expanded near-surface copper-tin mineralization at La Romana to 1.7km of mineralization strike extent
• Confirmed high-grade copper-tin mineralization along trend in first drillholes at the La Pantoja target west of La Romana
• Announced maiden Mineral Resource Estimates for La Romana and Cañada Honda, exceeding projections for resource category and size
• Awarded Escacena South mineral rights (Flores, Rosario, Girasoles) through competitive tender in September 2025, adding more than 12 compelling exploration targets
• At Cármenes: First drill campaign at Cármenes resulted in a new gold discovery at the Providencia target: more than 25 follow-up targets identified by airborne geophysics survey 

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Q9: What are the 2026 drill program objectives at Escacena?

Drilling commenced at the El Pozo target in February 2026, marking the start of the 2026 Escacena Project multi-target program. The full program is designed to grow the copper resource base through new discoveries. Specific activities include:

• Drilling began at El Pozo (Escacena North) with up to four drillholes in the initial phase 
• Drilling planned at the Cortijo target (Escacena North)
• Airborne electromagnetic and magnetic survey over Escacena South to accelerate drill target prioritization 
• Drilling of highest priority Escacena South targets, including Trinidad and Carmen 
• Resource expansion drilling at the La Romana and Cañada Honda discoveries 

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Q10: How many untested drill targets does Escacena Project host?

In addition to the La Romana and Cañada Honda discoveries, Escacena Project hosts more than 15 large untested prioritized drill targets. These targets have been identified through gravity anomaly surveys and geophysical methods. 

Named targets with co-incident indicators include El Pozo, Cortijo, Trinidad, Carmen, Barbacena, San Pablo, Zarcita, Hornitos, and La Jarosa, among others. Escacena South adds more than 12 additional compelling exploration targets and more than doubled the Escacena Project to 10,000+ hectares.

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Q11: What is the El Pozo target and why was it selected as the first drill target in 2026?

El Pozo is a large-scale, high-confidence Volcanic Massive Sulphide (VMS) target located less than 3 km north of the La Romana copper-tin-silver deposit and 2 km along-trend west of the Cañada Honda copper-gold deposit. The initial El Pozo drill phase comprises up to four drillholes. It is defined by the following co-incident indicators:

• Copper-zinc soil sample anomaly trending over 1.6 km east-west
• Strong Induced Polarization (IP), Heliborne Electromagnetic (Heli-EM), and gravity geophysical responses
• Historical mine workings including a small shaft 
• Geophysical anomalies extending beneath the historical workings

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Q13: What is the 100-million-tonne target at the Escacena Project, and what is its basis?

Pan Global's stated goal is to define a 100-million-tonne-plus resource base at the Escacena Project. This goal is based on the district-scale land position (13,000+ hectares), the number of large untested gravity anomaly targets identified across the Project, the style of VMS mineralization in the Iberian Pyrite Belt (which supports multi-deposit, district-scale accumulations), and the precedent set by adjacent and regional mines which operate at comparable 100-million-tonne or larger resource sizes.