VANCOUVER, BRITISH COLUMBIA – (April XX, 2017) – Pan Global Resources Inc. (“Pan Global” or the "Company") (TSX Venture Exchange: PGZ)is pleased to announce the appointment of Mr. Timothy Moody as President and Chief Executive Officer and to provide a permitting & development update on the 100% owned flagship Minera Aguila copper and lead-silver project in Andalucía, Spain.
Mr. Moody has over 30 years of international experience in the mining industry, gaining expertise in mineral exploration, resource assessment, business development and strategy. He spent 24 years with Rio Tinto, including Exploration Director from 2005 – 2010, and Vice President and Director for Business Development from 2010 to 2015.
Mr. Moody has an impressive track record of discovery of mineral resources as well as commercial transactions globally. This includes leading the teams in identification and exploration of several projects now in feasibility and/or production, such as Mina Justa, Constancia, La Granja, Corani and Ollachea in Peru and Castillejito in Spain. As Director of Business Development at Rio Tinto, his responsibilities included corporate strategy, M&A and public market transactions.
Mr. Moody has a Bachelor of Science with Honours in Geology and Geophysics from the University of New England. He is also a graduate of the Senior Leadership Program from the London Business School and Business Leadership Development Program from the Australian Graduate School of Management, and a Fellow of the Society of Economic Geologists.
Tim Moody, Pan Global President & CEO, stated “On behalf of the Pan Global team, I would like to thank Brian Kerzner for his period asCEO and leadership in redirecting the company to commencement of activities in Spain. The company is pleased to have Brian’s continued contribution as a Director. I look forward to building a strong portfolio of opportunities and advancing exploration on the Spanish project, where the first results from the current exploration are expected soon.”
Pan Global is also pleased to provide the following project update on the Minera Aguilas project in Spain.
Aguilas Project – Work commences
The company manages the Aguilas Project through its agreement to acquire Spanish company, Minera Aguila SLU. Minera Aguila SLU holds the Las Aguilas I, II and III Investigation Permit applications, referred to as the “Aguilas Project”.
Permitting of Aguilas I, II and III mineral rights continue to progress. Definitive Admission and Publication of the permits in the Official Bulletin will precede a mandatory Public Consultation period and full granting of the Investigation Permits.
Reconnaissance prospecting has commenced in the Aguilas Project aimed at helping map the extent and nature of the copper and lead-silver mineralization. Detailed review and compilation of historical exploration data has also commenced. The results of this work will be used to delineate areas for more detailed geological mapping, geochemistry and geophysics. The recent prospecting has identified copper mineralization in float and outcrop together with suspected ancient mine workings over a strike length of approximately 1.4 kilometers (open). Prospecting will continue this quarter with the first assay results anticipated before the end of April.
The Company also announces the grant of an aggregate of 2,425,000 stock options to directors, officers and consultants. The options are exercisable for a period of 10 years for $0.10 per option share.
Robert Baxter (FAusIMM), a Director of Pan Global Resources and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Mr. Baxter is not independent of the Company.
About Pan Global Resources
Pan Global Resources Inc. is actively engaged in base and precious metal exploration in Spain, and is pursuing opportunities from exploration through to mine development.
On behalf of the Board of Directors
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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. 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.
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