09:45 AM EDT, 10/03/2025 (MT Newswires) -- Pan Global Resources ( PGZFF ) overnight Thursday announced the award of mineral rights to three contiguous blocks adjoining its 100%-owned Escacena project through a competitive public tender process.

The company said the new mineral rights expand its landholding at Escacena on the Iberian Pyrite Belt by 74% to more than 10,000 hectares over a highly prospective and target-rich area for potential polymetallic volcanogenic massive sulphide deposits. The enlarged Escacena project is surrounded by major operators, including First Quantum, Grupo Mexico, Sandfire and Atalaya.

"With work commenced on the maiden Mineral Resource Estimate for the La Romana deposit and drilling underway at Escacena and the Carmenes Project in northern Spain, Pan Global is building on its established track record of discovery of copper and gold deposits in Spain," said Pan Global chief executive Tim Moody.

"The new mineral rights adjacent to Escacena greatly enhance the potential to make additional discoveries and help achieve the goal of a cumulative 100 million tonnes of potentially economic mineral resources."

A contractor was selected for the maiden mineral resource estimate for the La Romana deposit at the Escacena project, which remains on track for completion by year-end 2025. It said drilling is currently in progress with two drill rigs at the La Romana and Bravo targets in its flagship Escacena project to expand the La Romana copper-tin-silver deposit for inclusion in the maiden Mineral Resource Estimate, and complete testing of the Bravo target.

Shares of the company were last seen up 2.9% at $0.18 on the TSX Venture Exchange.

Price: 0.18, Change: +0.01, Percent Change: +2.86