Pelangio Exploration Inc (PGXPF)

[NYBob]

Pelangio Exploration Commences a UAV Magnetics Survey on its Obuasi Project, Ghana
TORONTO, Ontario (November 5th, 2024) –




Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio” or the “Company”) is pleased to announce
that a high-resolution UAV airborne magnetics survey has commenced on its Obuasi property,
adjacent to the giant high-grade Obuasi Mine owned by AngloGold Ashanti PLC.
The survey is expected to take 3-4 weeks to complete.

Ingrid Hibbard, President and CEO, commented:

“The high-resolution airborne drone magnetics survey covers one of the most prospective areas of our Obuasi property
situated on strike with the renowned Obuasi Mine.
The survey is being conducted in collaboration with TuNya Mineral Resources Ltd. as part of their earn-in on
the southern Tarkwaian portion of our property.
This survey is expected to yield critical data that will enhance our targeting of Obuasi-style gold mineralization on our property.
We are eager to review the survey results and explore the targets it identifies for further evaluation and follow-up.”



Background

Pelangio’s 284 square kilometer Obuasi property is located in Ghana, Africa’s largest gold producer.
It is strategically situated in the Ashanti Gold Belt, West Africa’s largest gold belt and globally recognized
for its rich, high-grade gold deposits with centuries of successful gold mining.

Our Obuasi property is adjacent to Anglo-Gold’s Ashanti’s high-grade Obuasi Mine with gold endowment
exceeding sixty million ounces.

TuNya are conducting a US$250,000 technical study of Pelangio’s Obuasi property as partial fulfillment
of their earn-in on the southern Tarkwaian portion of the Obuasi property.
This work commenced in October of 2023 with a desk top review of Pelangio’s considerable exploration
datasets plus a start on detailed field mapping over the western half of the property.
Field mapping was completed in May of 2024 and a report was issued with recommendations that included
the flying of a high-resolution UAV (drone) airborne magnetics survey over the principal area of interest
identified in the western margin of the property covering the interpreted strike extension of the Obuasi mineralized trend.
Here, a significant concentration of Pelangio’s historical anomalous rock chip samples
> 1 g/t Au occurs with much of the 8-kilometer long target untested by trenching and drilling.
Refer to Figure 1.

Following the flying of the magnetic survey, the data will be processed, imaged and geologically plus structurally
interpreted with recommendations for follow up to be funded by TuNya, likely to include a program of pitting and
trenching to test the most favourable targets.



Survey Details

The drone (UAV) airborne magnetics survey being flown at Obuasi will be conducted by SEMS Exploration of Ghana.
The survey will be flown with a GEMS Systems AIRBIRD magnetometer suspended from a Matrice 300 RTK drone along
50-meter spaced lines with a total of 400 line-kilometers covering an area of approximately 20 square kilometers.
The survey is expected to take three weeks, depending on the weather.
SEMS inhouse geophysicist will process and image the survey data and provide a report plus GIS imagery to Pelangio
within ten days of completion of the survey.

Figure 1. Obuasi project UAV Magnetics Survey Area



Qualified Person

Mr. Kevin Thomson, P.Geo. (Ontario, #0191), is a qualified person within the meaning of National Instrument 43-101
Standards of Disclosure for Mineral Projects. Mr. Thomson approved the technical data disclosed in this release.

About Pelangio

Pelangio acquires and explores prospective land packages located in world-class gold belts in Ghana, West Africa and Canada.
In Ghana, the Company is focused on its two 100% owned camp-sized properties: the 100 km2 Manfo property,
the site of eight near-surface gold discoveries, and the 284 km2 Obuasi property, located 4 km on strike and
adjacent to AngloGold Ashanti’s prolific high-grade Obuasi Mine, as well as the Dankran property located
adjacent to its Obuasi property.

See http://www.pelangio.com for further details on all Pelangio’s properties.

https://pelangio.com/news-releases/2024/obuasidronenov2024/

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175015670

For additional information, please visit our website at www.pelangio.com, or contact:

Ingrid Hibbard, President and CEO

Tel: [phone] / Email: [e-mail]