VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 12, 2012) - Pan Global Resources Inc. (TSX VENTURE:PGZ) ("Pan Global" or the "Company") is pleased to announce the appointment of Mr. William Pennell to the Board of Directors of the Company.
Mr. Pennell joined U.S. Borax in 1985 and for 6 years, helped revitalize Borax's domestic borate exploration, and served as Exploration Manager for its Western U. S. precious metals program, prior to U.S. Borax's merger into the Rio Tinto Group. Over the subsequent 15 years, Mr. Pennell established and directed Rio Tinto's successful, global Industrial Minerals exploration through a range of country offices including China, Serbia, Turkey, India, Spain, Argentina, Mexico and the U.S.A.
Julian Bavin, President and CEO of Pan Global, stated, "We are very pleased and fortunate to have Bill Pennell join the Board of PGZ. His huge knowledge of Borate exploration will add further experience to the technical direction of our Option with Lithium Li in the Balkans, and his wide network of contacts across many areas in the Borate industry including feasibility studies, mine construction, mine operation, and marketing will add significant strength to the Board."
Mr. Pennell's career in minerals exploration spans 39 years. After he received his Bachelor of Arts, Geology, degree from the University of California, Riverside in 1967, he served 18 years as a geologist with Getty Oil Company's Minerals Exploration Department with responsibilities in the U.S.A., Philippines, Canada, Australia, and finally Ireland where he was Getty's representative for minerals exploration and off-shore oil and gas ventures. He then worked with U.S. Borax for 6 years which was eventually merged into the Rio Tinto Group.
Over a 15 year tenure at the Rio Tinto Group, Mr. Pennell led divisions that discovered economic deposits of talc (Spain), soda ash (Wyoming, Turkey), both kaolin and calcium carbonate in the U.S. as well as identifying economically attractive deposits of vermiculite (Uganda) and potash (Canada). However most significant to Pan Global was his leadership of the teams that discovered borates in Argentina, Serbia and Bolivia, and the Jadar (lithium borate) deposit in Serbia, now in advanced studies by Rio Tinto. He retired as Rio Tinto's Exploration Director for Industrial Minerals in 2006, and now resides in Nevada, serving on the Board of Trustees for the University of Nevada-Reno Foundation.
The Company further announces the grant of 100,000 stock options to Mr. Pennell, exercisable at a price of $0.38 per share, for a period expiring on September 12th, 2017.
Shares Issued and Outstanding: 28,378,981
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.