PELANGIO EXPLORATION - PGXPF STOCK NEWS

Pelangio Exploration Inc. (OTC: PGXPF) has entered an earn-in agreement with First Mining Gold Corp. for its Birch Lake Project. This project, located in Ontario, may see First Mining gain up to an 80% interest by investing $3.5 million in exploration and making cash payments of $750,000. The Birch Lake property is strategically located near First Mining’s Springpole Gold Project, which contains significant gold reserves. The partnership aims to unlock the project's value for shareholders while Pelangio continues exploring other properties in Ghana and Ontario.

Pelangio Exploration Inc. (OTC PINK:PGXPF) announced a grant of 2,050,000 stock options to directors, officers, employees, and consultants. The options have an exercise price of $0.115 per share and a five-year term, expiring on August 24, 2026. The company is engaged in acquiring and exploring gold properties in Ghana and Canada, including the Manfo and Obuasi properties in Ghana and several projects in Ontario. Further details can be found on their website.

Pelangio Exploration announced the successful completion of its first reverse circulation (RC) drilling program at the Dankran project in Ghana, totaling 2,491 meters across 36 holes. The program confirmed the Obuom Mine trend as a promising target, with significant results including grades up to 6.07 g/t Au over 2.0 meters. Future work will primarily focus on the Obuom Mine extension. Additionally, the Company plans to shift attention to the Manfo Project for a major Fall 2021 drilling program, while Dr. Joyce Aryee has resigned from the Board.

Pelangio Exploration Inc. held its annual and special meeting on June 30, 2021, where management’s proposals were fully approved by shareholders. The board now includes Ingrid Hibbard, JC St. Amour, David Mosher, Kevin Thomson, Joyce Aryee, and Al Gourley. Shareholders also reappointed the auditor and approved a new 10% rolling Stock Option Plan. Pelangio focuses on gold exploration in Ghana and Canada, targeting high-potential properties. For more details, visit www.pelangio.com.

Pelangio Exploration has completed the final tranche of a non-brokered private placement, raising a total of $275,000 through the issuance of 1,718,750 flow-through units at $0.16 each. The total proceeds from the offering amount to $750,000. Funds will support exploration and drilling at the Dome West, Gowan, and Hailstone projects. Additionally, finder's fees were paid totaling $5,250 and 32,812 non-transferrable warrants. Securities issued are subject to a hold period until October 18, 2021.

Pelangio Exploration Inc. (OTC PINK:PGXPF) announced the receipt of final data from the VTEM Plus electromagnetic survey at its Gowan polymetallic project, located near Timmins, Ontario. The survey confirmed a broad 1.5 km by 1 km electromagnetic response, indicating potential for copper-zinc volcanogenic massive sulphide (VMS) deposits, along with nickel-copper sulphide deposits. Historical drilling results show promising intercepts. A ground Induced Polarization survey will commence shortly, aimed at refining drill targets.

Pelangio Exploration has successfully closed a first tranche of a non-brokered private placement, raising $475,000 by issuing 2,968,750 flow-through units at $0.16 each. The funds will support exploration and drilling at its Dome West, Gowan, and Hailstone projects. Each unit comprises one common share and half a warrant, with warrants priced at $0.20 for 18 months. A second closing is anticipated around June 15, 2021, pending TSX-V approval. All securities are subject to a hold period expiring October 11, 2021.

Pelangio Exploration Inc. has initiated a Reverse Circulation (RC) drilling program at its Dankran Project in Ghana, with 225 meters drilled across three holes so far. The program aims to test five compelling targets, focusing on soil anomalies in the northern area. With a planned total of 2,700 meters of drilling, the project is strategically located near the historic Obuom Mine. Soil sampling from previous months identified significant gold anomalies, and ongoing prospecting aims to generate additional targets. The drilling is expected to continue for three to four weeks.

Pelangio Exploration Inc. has completed 908 meters of diamond drilling at its Hailstone project in Northern Saskatchewan, testing eight targets. Despite intersecting shear zones and disseminated pyrite, no significant gold values were found. President and CEO Ingrid Hibbard emphasized the importance of the data for future exploration, particularly around areas with high gold grain counts. The property, spanning 75 square kilometers, is strategically located in a revitalized gold camp, conducive for further exploration efforts.