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• El Pozo is a large scale, high-confidence VMS target
• Soil copper anomaly trends over 1.6 km east-west
• Coincident geochemistry and geophysics
• Historical mine workings

VANCOUVER, BC , Feb. 23, 2026 /CNW/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSX-V: PGZ) (OTCQB: PGZFF) (FRA: 2EU) is pleased to announce the commencement of drilling at the El Pozo target in the 100%-owned Escacena Project ("Escacena") located in the Iberian Pyrite Belt in southern Spain. El Pozo is the first target to be tested as part of the 2026 multi-target drill program at Escacena. El Pozo is located less than 3-km north of the Company's La Romana copper-tin-silver deposit and 2-km along-trend west of the Cañada Honda copper-gold deposit.

Drilling at El Pozo will initially include up to four drillholes testing a large, previously untested target defined by historical mine workings, coincident copper-zinc soil sample anomalies, strong Induced Polarization (IP), electromagnetic (EM), and gravity responses. The drilling will test for mineralization extending beneath the historical mine workings associated with the large geophysics' targets. The historical mine workings include a small shaft, with no information of past production.

"El Pozo is a compelling, large-scale target to initiate the 2026 Escacena drill campaign. The alignment of geophysics and copper geochemistry, including a soil-copper anomaly trending over 1.6 km east-west and geophysics anomalies extending beneath the historical mine workings, are strong indicators of a Volcanic Massive Sulphide (VMS) mineralized system, potentially strengthening at depth," said Tim Moody, President and CEO.

The 2026 drill program aims to grow Pan Global's copper resource base through targeted, high-confidence exploration drilling to discover new mineralization. Up to 15 untested targets have been identified for follow-up, with drilling also planned at the Cortijo target at Escacena North and the Trinidad and Carmen targets on the newly awarded Escacena South property. Drilling will also test for extensions to the La Romana (copper-tin-silver) and Cañada Honda (copper-gold) deposits.

Results will be announced as soon as they are available.

About the Escacena Project

The Escacena Project, recently added Escacena South area and new application areas, together comprise a mineral rights land package covering more than 13,000-hectares controlled 100% by Pan Global in the east of the Iberian Pyrite Belt, Europe's second-largest copper-producing region. Escacena is located near the operating mine at Riotinto (Atalaya) and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes (Grupo México) is commencing a new underground mine development beneath the former Los Frailes open pit mine. The Escacena Project includes Mineral Resource Estimates at the La Romana copper-tin-silver and Cañada Honda copper-gold deposits, and hosts 15 other prospective targets for follow-up.

Escacena Project Maiden Mineral Resource Estimates

La Romana

• Measured and Indicated: 32.4 Mt at 0.37% Cu, 270 ppm Sn, 1.7 g/t Ag, 0.44% CuEq (119.5 kt Cu, 8.8 kt Sn, 1.7 Moz Ag) – at 0.2 % copper cutoff grade, and
• Inferred: 4.0 Mt at 0.40% Cu, 71 ppm Sn, 1.4 g/t Ag; 0.42% CuEq (15.8 kt Cu, 0.3 kt Sn, 0.2 Moz Ag) – at 0.2% copper cutoff grade.

Cañada Honda

• Inferred: 5.0 Mt at 0.65 g/t Au, 0.14% Cu, 1.2 g/t Ag; 0.74 g/t AuEq (104 koz Au, 6.8 kt Cu, 0.2 Moz Ag) – at 0.25 g/t gold cutoff grade.

For details and additional technical disclosure, please see the February 12, 2026 media release.

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 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 mine 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.

To learn more about Pan Global Resources, please visit the Company's Curation Connect showcase and explore AI-generated responses to your enquiries at https://app.curationconnect.com/company/Pan-Global-Resources-44037?utm_source=pg_mediareleases

Qualified Persons

Álvaro 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.

QA/QC 

The soil geochemistry survey results in this announcement include samples collected from the top 20cm from surface (un-sieved, weighing approx. 1kg) on a 100m x 40m grid over the gravity target area. The samples are collected in plastic bags, and a multi-element analysis obtained using a Vanta hand-held x-ray fluorescence ("pXRF") device. Analyses are repeated on 1 per 20 samples, and standards inserted to check for deviation.

Samples were prepared at ALS Laboratories in Seville, Spain using method PREP-41, which includes drying at <60^°C (140^°F) and sieving to -180 microns (80 mesh). Prepared samples were then forwarded to the ALS analytical laboratory in Ireland, where all samples were analysed for gold by 50 g fire assay with ICP-AES finish (method Au-ICP22).

As an additional quality control measure, approximately 10% of the samples were also subjected to check analysis using method ME-MS41L, involving aqua regia digestion followed by analysis via ICP-MS and ICP-AES. These check assays were used to verify analytical accuracy and consistency of the primary results.

www.panglobalresources.com

Forward-looking statements

Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. The Company believes that the expectations reflected in the forward-looking information included in this media release are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company's operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.

The forward-looking information contained in this media release is based on information available to the Company as of the date of this media release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.

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SOURCE Pan Global Resources Inc.