Pelangio Appoints Dr. Joyce Rosalind Aryee to the Board of Directors

Rhea-AI Summary

Pelangio Exploration Inc. (OTC PINK:PGXPF) has appointed Dr. Joyce Rosalind Aryee to its Board of Directors, bringing extensive experience in the Ghanaian mining industry and strategic leadership. Dr. Aryee, a prominent public figure in Ghana, has over 40 years in public and private sectors, including serving as CEO of the Ghana Chamber of Mines. The board also thanked Mr. James Hannon for his service as he steps down. Pelangio is focused on exploring gold properties in Ghana and Canada, with plans to enhance exploration activities in the region.

Positive

• Dr. Aryee's appointment adds significant expertise in the Ghanaian mining sector, which could enhance strategic decisions.
• The appointment may strengthen investor confidence and support Pelangio's exploration plans in Ghana.

Negative

• The transition may lead to temporary operational disruptions as the new board member acclimates.
• There is a risk regarding continuity in leadership and potential experience gaps following Mr. Hannon's departure.

TORONTO, ON / ACCESSWIRE / March 17, 2021 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF)("Pelangio" or the "Company") is pleased to announce the appointment of Dr. Joyce Rosalind Aryee to the Board of Directors.

Dr. Joyce Rosalind Aryee, also known as "Auntie Joyce", is a distinguished former Ghanaian public figure, reverend minister, and businessperson. Dr. Aryee has served the Nation of Ghana, as a senior executive, for more than 40 years in both the public and private sectors. She has been recognized for her excellent track record of strategic leadership and management, executive coaching and passionate advocacy for positive social change. During her illustrious career in public office, she was the Chief Executive Officer of the Ghana Chamber of Mines and notably, the first woman in Africa to have held that role. She has also held governmental positions in Ghana from the early years of the Provisional National Defence Council ("PNDC") government, designed to decentralize and democratise Ghana's administration and politics. Dr. Aryee held postions of Minister of Information for the PNDC, Minister of Education, Minister of Local Government, Minister of Democracy in the Office of the Prime Minister, and a Member of the National Defence Council. She is currently the Executive Director of Salt and Light Ministries, a para-church organization. Auntie Joyce holds an Honors BA, and a Post Graduate Certificate in Public Administration.

Ingrid Hibbard, Pelangio's President and CEO stated, "We are delighted to welcome Dr. Aryee to Pelangio's Board of Directors. She brings a wealth of knowledge and experience in the Ghanaian mining industry and will be a great asset to Pelangio as we pursue our exploration plans in Ghana."

Ms. Hibbard continues, "We also extend our gratitude for the contributions made by Mr. James Hannon, who is stepping down from the Board of Directors to focus on his many other work commitments."

The Board of Directors has approved a total of 150,000 incentive stock options exercisable at $0.17 per share to be granted to Dr. Joyce Aryee. The options are exercisable for a period of five years in accordance with the terms of Pelangio's Stock Option Plan and are subject to the policies of the TSX Venture Exchange.

About Pelangio

Pelangio acquires and explores world-class gold belt land packages Ghana, West Africa and Canada. In Ghana, the Company is exploring its two 100% owned camp-sized properties: the 100 km2 Manfo property, the site of seven 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 newly optioned Dankran property located adjacent to its Obuasi property. In Canada, the Company is currently focused in Ontario on its Grenfell property, located 10 km from Kirkland Lake, at its Dome West property, situated some 800 meters from the Dome Mine in Timmins and is advancing its Hailstone property in Saskatchewan. Seewww.pelangio.com for further detail on all Pelangio's properties.

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

Ingrid Hibbard, President and CEO

Tel: 905-336-3828 / Toll-free: 1-877-746-1632 / Email: info@pelangio.com

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 strategy of acquiring large land packages in areas of sizeable gold mineralization, and the Company's ability to complete the planned exploration programs. 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, 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, delays due to COVID-19 safety protocols, 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.

SOURCE: Pelangio Exploration Inc.

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FAQ

What is the significance of Dr. Joyce Aryee's appointment to Pelangio Exploration (PGXPF)?

Dr. Aryee's appointment brings valuable experience and knowledge from the Ghanaian mining industry, potentially enhancing Pelangio's strategic direction.

Who stepped down from Pelangio's Board of Directors recently?

Mr. James Hannon stepped down to focus on other work commitments, and his contributions were acknowledged by the company.

How might Dr. Aryee's experience impact Pelangio's exploration efforts in Ghana?

Her extensive background in the mining sector may provide insights and leadership that bolster Pelangio's exploration initiatives and community relations in Ghana.