PELANGIO EXPLORATION - PGXPF STOCK NEWS

Pelangio Exploration Inc. (OTC PINK:PGXPF) has announced an increase in its non-brokered private placement due to heightened demand, raising the total from CDN$600,000 to CDN$720,000. The Offering involves selling units at $0.03 each, with each unit composed of one common share and a warrant exercisable at $0.05 for three years. Proceeds will be allocated for general corporate purposes and working capital. The Offering is subject to a four-month hold period under Canadian securities law.

Pelangio Exploration Inc. (OTC PINK:PGXPF) has announced the closure of the first tranche of a non-brokered private placement, raising $235,000 from the issuance of 7,833,333 units at $0.03 each. Each unit includes a Common Share and a Warrant, allowing the purchase of a Common Share at $0.05 until November 1, 2025. Ingrid Hibbard, the President and CEO, purchased 1,500,000 units, qualifying as a related party transaction. The private placement remains subject to TSX Venture Exchange approval, and securities are subject to a four-month hold period.

Pelangio Exploration Inc. has entered into an earn-in agreement with Record Gold Corp. for its Grenfell gold project in Ontario. Record Gold can acquire up to an 80% interest by spending $2 million on exploration and paying $60,000 in cash over five years. Pelangio retains a 20% interest and owns about 3.87 million shares of Record Gold, offering potential share appreciation benefits. The Grenfell property has a history of gold exploration since the 1930s, with recent drilling programs indicating promising gold mineralization.

Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) announced the approval of 1,505,000 incentive stock options for directors, officers, employees, and consultants. The options are exercisable into common shares at a price of $0.05 per share and have a five-year term, expiring on August 31, 2027. Pelangio is focused on acquiring and exploring land in gold belts in Ghana and Canada, including properties adjacent to significant mines.

Pelangio Exploration Inc. (OTC PINK:PGXPF) announced the approval of all management proposals at its annual meeting on June 22, 2022. Shareholders re-elected five directors and reappointed the auditor while reapproving the stock option plan. Pelangio focuses on gold exploration in Ghana and Canada, emphasizing its land packages in world-class gold belts. The company owns properties like the Manfo and Obuasi sites in Ghana and the Dome West and Gowan projects in Canada. Further information is available on their website.

Pelangio Exploration Inc. (OTC PINK:PGXPF) announced the completion of its initial drill program at the Gowan Project, totaling 1,035 meters over six holes. The drilling targeted nickel-copper sulphides and copper-zinc volcanogenic massive sulphide mineralization. Notable results include a 0.25% Zn intercept over 1 meter and 0.24% Cu over 1.5 meters in hole GO2202. An airborne electromagnetic survey is ongoing, and further geological analysis is planned to enhance understanding of mineralization. The project has attracted a potential partner for additional funding.

Pelangio Exploration Inc. has agreed to purchase a 100% interest in the Kenogaming Project, a 178-hectare polymetallic site located 63 km southwest of Timmins, Ontario. The project includes enriched gold and zinc zones and is drill-ready with permitting underway for a 1,000-meter drill program. Highlights from historical drilling include intercepts of 35.65 g/t gold over 1.21 meters. Tony Makuch joins the advisory committee, bringing over 35 years of mining experience. The acquisition aims to enhance Pelangio's portfolio and leverage synergies for future exploration and development.

Pelangio Exploration Inc. (OTC PINK:PGXPF) announced plans to extend the expiry date of certain outstanding warrants, subject to TSX Venture Exchange approval. The warrants, originally issued in May 2020, will now expire on May 19, 2023. A total of 5,000,000 and 4,420,000 warrants are involved, with an acceleration provision included based on share price performance. The amendment qualifies as a related party transaction involving the company's President and CEO, Ingrid Hibbard. The company focuses on gold exploration in Ghana and Canada.

Pelangio Exploration announced the completion of 1,446.50 meters of diamond drilling at its Dome West Project near Timmins, Ontario. Both drill holes intersected substantial Vipond stratigraphy, known for hosting gold zones at nearby mines, but assay results showed negligible gold values. The company emphasized the need for further drilling across the 400-meter strike length to evaluate potential economic mineralization. Pelangio received a $150,000 grant from the Province of Ontario to support this exploration.