Pelangio Exploration Inc (PGXPF)

[NYBob]

NEWS RELEASE: PELANGIO EXPLORATION PROVIDES UPDATE ON ACTIVITIES IN GHANA AND CANADA
TORONTO, Ontario (January 31st, 2024) – Pelangio Exploration Inc. (TSX-V:PX; OTC PINK:PGXPF)
(“Pelangio” or the “Company”) is pleased to provide an update on 2023 activities and the outlook for
2024 for its projects in Ghana and Canada.
Highlights – 2023

Exploration resumed at Pelangio’s district scale Obuasi Project, adjacent to the giant high-grade
Obuasi Mine

Pelangio’s Obuasi Project benefits from an agreement with TuNya Mineral Resources Ltd.
(“TuNya”) to provide both exploration expenditures and access to significant technical expertise

The recently completed Manfo Project drill program extended mineralization in both the Pokukrom
East and West deposits, demonstrating resource growth potential with continued step-out drilling

Canada Nickel Company’s (“Canada Nickel”) significant discovery on its Mann Northwest property
enhances interest in Pelangio’s adjacent Mann property (2.2 km away)

Barrick Gold Inc. (“Barrick”) began exploration on Hemlo Explorer’s Pic property, which surrounds
Pelangio’s Seeley Lake property

First Mining Gold Corp (“First Mining”) began exploration on Pelangio’s Birch Lake property which
is adjacent to First Mining’s Springpole Gold Project

Outlook – 2024
Obuasi project continues with the TuNya-funded exploration program on the Obuasi Project and
will focus on two large target areas in the southwest corner of the property closest to the Obuasi
Mine property, the Obuasi and NGA target areas

TuNya's exploration program will also cover the Tarkwaian geology which has been under-explored
to date

Resource extension drilling and exploration drilling planned for the Manfo project

Record Gold is expected to complete $250,000 of exploration at Pelangio’s Grenfell property under
the terms of the option agreement

First Mining will complete further exploration at Pelangio’s Birch Lake under the terms of the option
agreement

Barrick is continuing exploration on Hemlo’s Pic Project including a 2,500 m drill program

Pelangio is considering strategic opportunities for Canadian properties which are prospective for
silver, zinc, nickel, copper, cobalt, chromium, and platinum group elements (PGEs)

“2023 provided very positive developments for Pelangio in Ghana and Canada,” comments Ingrid Hibbard,
President and CEO of Pelangio. “We’re pleased to resume exploration at our Obuasi Project following
settlement of outstanding litigation between vendors of two of the four concessions of the Obuasi property.
We entered into an agreement with TuNya, which provides both exploration funding and access to a
technical team with over 125 years of combined experience on the extremely prolific Ashanti gold belt,
including significant experience at the Obuasi mine itself. We anticipate this additional knowledge to provide
real value to the development of the next phase of exploration at Obuasi.

https://pelangio.com/news-releases/2024/010_final_close-2/

https://pelangio.com/site/assets/files/5606/2023-09_px_presentation.pdf

https://pelangio.com/projects/ghana/obuasi/

https://pelangio.com/projects/ghana/manfo/

https://pelangio.com/projects/canada/gowan/

https://pelangio.com/projects/projects-overview/