Pelangio Exploration Inc. Files NI 43-101 Technical Report For The Mineral Resource Estimate Update On Its Manfo Project And Provides Exploration Update

Table 2. Comparison of the Pit-Constrained Mineral Resource Estimations for 2013 and 2025

Resource Growth and Exploration Potential

With 396,000 gold ounces (16,048,000 tonnes at an average grade of 0.77 g/t Au) of the Resource in the 2025 update being in the Inferred category, SEMS Technical Services has recommended drilling programs to upgrade the Resource. Additionally, much of the mineralization remains open-ended on the Manfo project and there is scope to expand the gold resource through successful resource extensional drilling and infill drilling follow up. Figure 2, which is a vertical long-section of the gold grade block model for the Pokukrom East deposit, shows the deposit remains open down-plunge and the shallower southern end of the deposit is open down-dip. Additionally, the northern and southern ends of the conceptual $2,600 Au optimized pit are undrilled and not reflected in the current Resource. Further drilling at Pokukrom East as well as at the other three deposits could potentially add significantly to the total Resource.

Exploration drilling programs have also been proposed for the Manfo property and there is potential to add one or more satellite deposits to the project with numerous compelling untested exploration targets remaining such as the large Bomfaa gold-in-soil anomaly two to three kilometres northwest of the Pokukrom deposits (refer to Figure 1).

The greatest exploration potential is believed to be through the recent addition of the Nkosuo Mining Permit immediately south of the Manfo property. Pelangio believes that there is potential for at least Manfo-scale discovery on Nkosuo. This view is based on limited historical exploration completed by AshantiGoldfields (now AngloGoldAshanti) demonstrating extensions to the Manfo mineralized structures and two or three subsidiary structures into Nkosuo Lease, plus the considerable past and current work by artisanal miners. Pelangio has commenced exploration on the Nkosuo Lease with a UAV (drone) orthophotography survey extending over both the Manfo and Nkosuo licenses now complete. The drone high-resolution magnetics survey over the same area is now 97% complete, although weather has delayed the flying of the last several lines. Geological mapping, prospecting and soil sampling will follow once the magnetic survey is completed and interpreted and will be combined with the orthophotography to assist targeted mapping and prospecting.

Between the resource expansion drilling and exploration programs for new discovery, Pelangio believes the gold resource contained in the Manfo-Nkosuo combined project can be grown substantially above its current level at relatively low discovery / resource addition costs. SEMS Technical Services in collaboration with Pelangio Exploration have designed a US$7.6M staged work program of resource expansion drilling, resource upgrade drilling plus aggressive exploration and follow-up drilling on both the Manfo and Nkosuo licenses with Nkosuo being the immediate priority. The program includes expenditures of US$3.3M with 27,000 meters of combined diamond and reverse-circulation drilling directed towards initial resource expansion and new discovery. Assuming success a follow up program costing US$4.3M with 18,000+ meters of mostly infill diamond drilling would be conducted to quantify possible resource additions to mostly the Indicated category. Drilling is expected to start in November 2025. The start of exploration drilling on the Nkosuo Lease will not begin until the drone surveys are completed and compiled and the mapping, prospecting and soil sampling programs are well underway. This will provide a well-documented list of rated and ranked targets to pursue. There are numerous compelling walk-up exploration drill targets already evident particularly at Nkosuo.

Figure 1. Map of the Manfo - Nkosuo Project and 2025 MRE Deposit Locations

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Figure 2. Vertical Long-section of the Pokukrom East Block Model

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Qualified Person

Mr. Kevin Thomson, P.Geo. (Ontario, #0191), Senior Vice-President, Exploration and Director, is a qualified person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Thomson approved the scientific and technical disclosure in this release.

About Pelangio Exploration Inc.:

For additional information, please visit our website at , or contact: Ingrid Hibbard, President and CEO Tel: 905-336-3828 / / Email: ...

Forward-Looking Statements: Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the Company's ability to complete proposed targeted infill drilling, step-out drilling and exploration to further define and expand the resource base, as well as further drilling at Pokukrom East and the other deposits, potential expansion of the Resource, potential conversion of Inferred to Indicated ounces, planned work programs, advancing technical studies, future development decisions, the potential addition of satellite deposits, the potential for a large discovery at Nkosuo, the Company's strategy of acquiring large land packages in areas of sizeable gold mineralization, the Company's plans to follow-up on previous work, and the Company's exploration plans. With respect to forward-looking statements and information contained herein, we have made numerous assumptions, including assumptions about the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include the changes in equity markets, share price volatility, volatility of global and local economic climate, inability to obtain necessary approvals or permits in Ghana, gold price volatility, political developments in Ghana and Canada, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including the risk that favourable exploration results may not be obtained, and other risks involved in the gold exploration industry. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward- looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement. Neither the 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.

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SOURCE: Pelangio Exploration Inc.

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