Pan Global Resources Inc. · TSXV:PGZ
Pan Global Resources — Investor Presentation (May 2026)
35 slides from Pan Global Resources's investor presentation, May 2026
Slide 1: Copper & Gold Exploration and Discoveries in Spain
Copper & Gold Exploration and Discoveries in Spain Copper, Gold, Silver, Critical Metals Investor Presentation May 2026 TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU www.panglobalresources.com
Slide 2: Cautionary Statement & Technical Information
CAUTIONARY STATEMENT & TECHNICAL INFORMATION Forward Looking Statement Estimates of Mineral Resources. This Presentation contains "forward-looking statements". These forward-looking The terms “Mineral Resource”, “Measured Mineral Resource”, “Indicated Mineral statements are made as of the date of th
Slide 3: Surging Demand Meets a Constrained Supply
Surging Demand Meets a Constrained Supply - 44% Declining South America copper ore grades since 2000 1.3% fallen to 0.7% 17 Years Average time from discovery to production New mines cannot be bought online quickly enough TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU 3
Slide 4: Global Copper Demand Growth & Growing Supply Gap
Global Copper Demand Growth & Growing Supply Gap CAGR = 2.3% per year (Historical 30-year CAGR = 2.9%) Note: * Direct-use scrap – scrap gap emerging based on 2025 recovery rates (indicating recovery rates will need to grow. ** Recovered copper basis – excludes any production discruption adjustment.
Slide 5: Higher Copper Price: Industry Cannot Move Fast Enough
HIGHER COPPER PRICE: INDUSTRY CANNOT MOVE FAST ENOUGH “Copper is one disruption away from $20,000 per tonne” • LME Copper All-Time High Andy Denman – The Mining Podcast on Jan-2026 of $14,527.50 (~$6.60 per lb) • Long-term Consensus currently $12,000 to $15,000 per-tonne • Any disruption could shift
Slide 6: Pan Global Resources – A Compelling Investment Case
PAN GLOBAL RESOURCES – A COMPELLING INVESTMENT CASE Cármenes Why Invest in PGZ: New Gold Mining district Cu Ni Co Au • Proven team - multi-discovery track Discovery record in Spain • Top-tier jurisdiction, infrastructure & SPAIN permitting Madrid • Defined Copper-Tin Resource at La Romana Seville •
Slide 7: Escacena Project
ESCACENA PROJECT Flagship Escacena Project – Infrastructure is a significant cost advantage PORTUGAL Aguas Teñidas SPAIN Iberian Pyrite Belt Lomero Poyatos Denarius Magdalena Sandfire Sandfire Matsa Riotinto • World’s largest concentration of VMS ore La Zarza Atalaya La Romanera deposits Tharsis Sot
Slide 8: Escacena Project: Mt Objective from Multiple Deposits
ESCACENA PROJECT: 100 MT OBJECTIVE FROM MULTIPLE DEPOSITS Reported resources vs contained Cu metal • La Romana maiden Resource – first step Based on most recently published data available* 180 Mt 1,200 kt x 1000 • Strong foundation to achieve 100Mt of 165 Mt 1,100 kt Measured resources / 400Kt coppe
Slide 9: Escacena Project: Maiden Mineral Resource
ESCACENA PROJECT: MAIDEN MINERAL RESOURCE 0.44% CuEq grade - Competitive with Operating Open-pit mines in Spain • High-confidence Mineral Resource (MRE) • Confirms large copper system (open) 352 Mlb / 156 kt CuEq • Higher proportion (90%) of M+I typically Cut-off Grade 0.20% Cu attracts higher valua
Slide 10: Grades well aligned with bulk-tonnage open-pit systems in the IPB / Spain
Grades well aligned with bulk-tonnage open-pit systems in the IPB / Spain ▪ Typical grades 0.3-0.5% Cu, cut-off 0.15-0.20% Cu ▪ “La Romana” MRE grade 0.37% Cu (0.44% CuEq), In-Pit grade 0.39% Cu (0.50% CuEq) ▪ Grades are similar or better than open-pit mines & development projects in Spain • Cerro C
Slide 11: La Romana: Mineral Resource Remains Open for Expansion
LA ROMANA: MINERAL RESOURCE REMAINS OPEN FOR EXPANSION Plan View ▪ In-pit Resource (stand-alone Total Resources basis) Pit Outline >0.2 % Cu cut-off • Open several directions • Highly favourable grade In-Pit distribution and Outside-Pit geometry • Low strip 2.8:1 • Potential to grow Cu % (In-Pit) ▪
Slide 12: La Romana: Iberian Pyrite Belt Deposit Depth Comparison
LA ROMANA: IBERIAN PYRITE BELT DEPOSIT DEPTH COMPARISON Depth PGZ La Romana First Quantum MATSA (Sandfire) Atalaya Boliden Cerrado Gold Atalaya Depth • Mines becoming deeper: 0m 0m higher capex/opex Sotiel La Romana: Top of Gossan -150m Cerro Colorado base of pit 400m • Near-surface is less Mines La
Slide 13: La Romana: Best-in-Region Copper Metallurgy
LA ROMANA: BEST-IN-REGION COPPER METALLURGY Metallurgical Cu recovery vs Cu concentrate grade Based on most recently published data available* Metallurgy tests set La Romana apart La Romana • Copper recovery of up to 88% Pan Global • Concentrate grade up to 32.5% Cu • Tin co-product: premium concent
Slide 14: La Romana: Superior Concentrates, Value, ESG Benefits
LA ROMANA: SUPERIOR CONCENTRATES, VALUE, ESG BENEFITS SPAIN Copper Recovery Concentrate Grade Trucks to deliver La Romana - Clean Concentrate Advantage (Owner – Mine/Project) (%) (Cu %) 1000-tonnes of Cu in 0 0 concentrates Huelva (Local) 20 40 60 80 10 20 30 Mine Smelter / Port Atalaya – Touro Proj
Slide 15: Pan Global Comparable: Significant Re-rating Potential
PAN GLOBAL COMPARABLE: SIGNIFICANT RE-RATING POTENTIAL La Romana MRE: Largest Measured Resource, Clear development and growth pathway MARKET CAP CAD $62 M CAD $77 M CAD $108 M CAD $130 M CAD $134 M COMPANY DEPOSIT La Romana Sombrero La Romanera Murray Brook B26 LOCATION Spain Peru Spain Canada Canad
Slide 16: Escacena Project: Cañada Honda: Large Copper/Gold Target
ESCACENA PROJECT: CAÑADA HONDA: LARGE COPPER/GOLD TARGET A Cañda Honda Target long section A’ Drill results: CAÑADA HONDA: • CHD12 : 17m @ 1.6g/t Au, incl. 11m @ 2.4g/t Au Untested Geophysics and Cu-Au Drill • CHD08 : 14m @ 0.8% Cu, 0.4g/t Au, 4g/t Ag, incl. Resistivity Low Intercepts coincident 6.8
Slide 17: Escacena Project Expanded – Multiple Untested Targets
ESCACENA PROJECT EXPANDED – MULTIPLE UNTESTED TARGETS Key strategic land position surrounded by larger mining companies/investment groups • La Romana copper-tin-silver discovery coincident with a gravity target • Multiple “new” large untested gravity targets provide a pathway to scale • VMS deposits
Slide 18: Escacena South: Trinidad & Carmen Targets
ESCACENA SOUTH: TRINIDAD & CARMEN TARGETS Budget includes four drillholes at the Trinidad and Carmen targets Gravity Anomaly Map Airborne Magnetics Trinidad & Carmen Cortijo Target La Romana Mine Workings Mine Workings La Romana Trend TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU
Slide 19: Escacena South: Trinidad & Cármen Targets
ESCACENA SOUTH: TRINIDAD & CÁRMEN TARGETS Historical Mine Workings*, High Rock + Soil Geochemistry and Gravity Anomaly Soil Soil Copper Pb + Zn * Results are historical in nature and have not been sampled using current geological methodology. There is no assurance that future Pan Global results will
Slide 20: Escacena South: Historical At-Surface Workings Over 1km
ESCACENA SOUTH: HISTORICAL AT-SURFACE WORKINGS OVER 1KM • Escacena South borders La Romana copper-tin-silver deposit • ~1km surface length characterized by multiple mine workings, surface copper indications, gossan, massive sulfides on mine dumps at Carmen target (center) TSXV: PGZ | OTCQB: PGZFF |
Slide 21: Escacena Project: Clear Pathway to Development
ESCACENA PROJECT: CLEAR PATHWAY TO DEVELOPMENT La Pantoja core sample (target adjacent to La Romana deposit) • La Romana maiden NI 43-101 Resource delivered December 2025 • 10,000-meter drill plan in 2026 over Escacena and Cármenes Projects • Expand and add to resource base near-term • Potential fas
Slide 22: Cármenes Project: High Grade Gold, Copper, Nickel +
CÁRMENES PROJECT: HIGH GRADE GOLD, COPPER, NICKEL + Providencia Target – First Target • Historical mining area – Cu, Co, Ni • Underground channel shows high- grade Cu-Ni-Co sulfide remains open • Wider zone highly anomalous gold in >5,600 Ha soils over 300m x 150m breccia 55km • Trench and channel s
Slide 23: Providencia Target: First Drillholes Confirm Gold Discovery
PROVIDENCIA TARGET: FIRST DRILLHOLES CONFIRM GOLD DISCOVERY • 46m @ 1.08 g/t Au - Drillhole PVD02 • 34m @ 3.01 g/t Au - Drillhole PVD06 • 37m @ 3.11 g/t Au - Gallery 1 Channel sample • 20m @ 1.74 g/t Au - Surface trench • 5m @ 20.18 g/t Au – Surface channel TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU 23
Slide 24: Pan Global – 2026 Exploration Plan
PAN GLOBAL – 2026 EXPLORATION PLAN Focus on adding new discoveries to add value • Multi-target drill program: +35 drillholes (10,000 m) • Escacena Project: 1. La Romana resource expansion, optimization & economic studies 2. Drill test new targets to add/discover resources 3. Advance exploration at E
Slide 25: Pan Global – Supportive Global Shareholder Base
PAN GLOBAL – SUPPORTIVE GLOBAL SHAREHOLDER BASE COMPANY STATISTICS (as of May 7, 2026) SUPPORTIVE INSTITUTIONAL OWNERS Shares Outstanding 364.26M 6% Warrants* 28.35M Options/RSUs/DSUs 29.29M 38% Shares Fully Diluted 421.9M 36% Market Cap @ $0.17 (CAD$M) $61.9M 52-Week Trading Range (CAD$) $0.10 – 0.
Slide 26: Board of Directors – Quality, Experience, Track Record
BOARD OF DIRECTORS – QUALITY, EXPERIENCE, TRACK RECORD Patrick Evans – Chairman : Company Maker, M&A Roger Davey – Director : Mining & Finance • 40+ years senior mining leadership and M&A experience • 40+ years operational and management experience in mining in Europe, • Led more than a dozen mining
Slide 27: Leadership Team – Professional, Depth, and at All Stages
LEADERSHIP TEAM – PROFESSIONAL, DEPTH, AND AT ALL STAGES TIM MOODY – President, CEO and Director JASON MERCIER – Vice President Investor Relations • 35+ years in mineral exploration, resource assessment, business development and • 25+ years investor relations and communications experience in the min
Slide 28: Contact
Suite 700 – 838 West Hastings Street Vancouver BC, V6C 0A6, Canada T: +1-236-886-9518 E: investors@panglobalresources.com W: www.panglobalresources.com PanGlobalResources PanGlobalResources PanGlobalSpain Pan Global Resources TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU
Slide 29: Appendix & References
APPENDIX & REFERENCES TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU
Slide 30: Our Values: A Sustainable Company
OUR VALUES: A SUSTAINABLE COMPANY ESG INITIATIVES A member of the United Environment Social Governance Nations Global Compact since Oct 2022; the only exploration • Energy efficiency • Stakeholders • Transparency company in Spain so committed • Water use • Community relations • Ethical behaviour • L
Slide 31: Copper Included in the European Critical Raw Materials Act
COPPER INCLUDED IN THE EUROPEAN CRITICAL RAW MATERIALS ACT European Critical Raw Materials Act – March 2024 A European Union regulation establishes a framework to ensure a secure and sustainable supply of critical raw materials for EU members Potentially beneficial actions under the Critical Raw Mat
Slide 32: La Romana Metallurgical Study Summary
LA ROMANA METALLURGICAL STUDY SUMMARY • Copper concentrate containing 26% to 32% Cu and 102 ppm Ag with an expected recovery of over 88% • Tin concentrate containing 63% Sn with an expected recovery of over 60% • Ore classified as medium-hard to crush and grind • Low grinding energy requirements due
Slide 33: References: Notes to Escacena Project Mineral Resources
REFERENCES: NOTES TO ESCACENA PROJECT MINERAL RESOURCES CuEq: Copper equivalent; g/t: Grams per tonne; kt: Thousand tonnes; ppm: Parts Per Million; Mt: Million tonnes; Moz: Million ounces; koz: Thousand ounces Estimation Methodology: The MREs for La Romana and Cañada Honda were prepared by Orelogy C
Slide 34: References: Notes to Escacena Project Mineral Resources
REFERENCES: NOTES TO ESCACENA PROJECT MINERAL RESOURCES Atalaya Mining plc 2022-09-16 – “Technical Report on the Riotinto Copper Project” Submitted date: 2022-10-05 Source: SEDAR 2023-03-27 – “Preliminary Economic Assessment. Proyecto Riotinto, Huevla Province, Spain” Effective date: October 31, 202
Slide 35: References: Copper Company Comparison
REFERENCES: COPPER COMPANY COMPARISON Pan Global Resources Inc. 2025-12-31 – "Pan Global Announces Maiden Mineral Resource Estimates for the Escacena Project in the Iberian Pyrite Belt, Spain" Effective date: December 31, 2025. Filing date: February 12, 2026. Source: SEDAR+ https://cdn.prod.website-
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