New Risk • May 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$3.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.2m free cash flow). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (CA$41.5m market cap, or US$30.1m). Anuncio • Apr 02
Pelangio Exploration Inc., Annual General Meeting, Jun 16, 2026 Pelangio Exploration Inc., Annual General Meeting, Jun 16, 2026. New Risk • Feb 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (CA$59.7m market cap, or US$43.8m). Anuncio • Jan 20
Pelangio Exploration Inc. Begins Drill Program At Manfo Pelangio Exploration Inc. announced that the first phase of its drill program at the Manfo Project is underway. The drill program will consist of resource extensional drilling, as well as an exploration RC drilling program which will include evaluating the highly prospective untested Bomfaa geochemical anomaly situated 2.5 kilometers northwest of the Pokukrom deposits. The Company also announces that the Nkosuo Option Agreement has been terminated. As a result, FJ Minerals Limited ("FJ") no longer has an option to earn a 17% interest in the Manfo Project and its existing mineral resource (the "FJ Option"), and conversely Pelangio no longer has a right to earn an 83% interest in the Nkosou Property, an adjacent exploration property. In addition, the option to earn a 10% interest in the Manfante Project by Nathawo Properties and Investment Limited by paying Pelangio $1,000,000 (the "Nathawo Option") has also terminated. Following the termination of the FJ Option and the Nathawo Option, Pelangio retains the 27% of the known mineral resource previously subject to option and disposes of its option interest in the adjacent Nkosuo exploration property. As well, Pelangio has been granted a Right of First Refusal on the Nkosuo property. Considering both the recent rise in the gold price and the absence of the required Forest Entry Permit from the vendor, the loss of the exploration property is outweighed by securing the 27% interest in the known Manfo resource. Consequently, the development is net beneficial. The current Manfo Resource Estimate ("MRE") is defined by a total Indicated Mineral Resource of 441,000 ounces of gold at an average grade of 1.16 g/t Au and totaling 11,787,000 tonnes and a total Inferred Mineral Resource of 396,000 ounces of gold at a average grade of 0.77 g/t Au totaling 16,048,000 tonnes; however 63,000 ounces in the Inferred category are from the Nfante West deposit and approximately one half of the Nfante West deposit is located on the Nfante property. Manfo Exploration Program. A 6,850-meter drilling program has just commenced on the Manfo project, consisting of 3,150 meters of resource extensional diamond drilling (now underway) to be followed by 3,700 meters of exploration reverse circulation (RC) drilling. This program is the first phase of a larger planned program described in Pelangio's September 2025 NI43-101 Technical Report, which is intended to grow the Manfo project if successful. The diamond drilling in this program will test for extensions to the Pokukrom East and West deposits, along strike, down-dip and down-plunge. Demonstrated extensions to the mineralized zones will be followed up by infill drilling in future programs to quantify potential additions to the Manfo gold resource. The exploration RC drilling program will evaluate the highly prospective untestedBfaa Au geochemical anomaly situated 2.99 g/t Au (Pelangio, 2011) and 17 meters @ 1.22 g/t Au (PELangio, 2010), plus test for a possible southern extension to the small Nkansu deposit. Qualified Person. Mr. Kevin Thomson, P.Geo. (Ontario, #0191), Senior Vice-President, Exploration and Director, is a qualified person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. New Risk • Dec 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 16% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (CA$70.7m market cap, or US$50.5m). New Risk • Nov 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 31% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$45.4m market cap, or US$32.2m). Anuncio • Oct 23
Pelangio Exploration Inc. announced that it has received CAD 4.5 million in funding On October 22, 2025, the company has closed the transaction. The Company paid finder's fees to securities dealers totalling CAD453,396.32 in cash and issued non-transferable finders warrants entitling such finders to purchase up to an aggregate of 2,371,130 Common Shares at a price of CAD 0.18 per Common Share until October 9, 2027. All finder's fees are subject to compliance with applicable securities legislation and TSX Venture Exchange policies. All securities issued in the Final Tranche are subject to statutory four month hold periods and, in respect of Insiders, also the TSX Venture Exchange Hold Period, expiring on February 23, 2026. The Private Placement remains subject to obtaining final approval of the TSX Venture Exchange. Anuncio • Sep 23
Pelangio Exploration Inc. announced that it expects to receive CAD 4 million in funding Pelangio Exploration Inc. announces a non-brokered private placement to issue 22,222,222 Units at a price of CAD 0.18 per unit for gross proceeds of CAD 4 million on September 22, 2025. Each Unit consists of one common share of the Company and one half of a Common Share purchase warrant. Each whole Warrant entitles the holder to purchase one Common Share at a price of CAD 0.31 for a period of 2 years from the initial closing date of the Offering. The closing of the Offering may occur in one or more tranches, with the initial closing date of the Offering expected to occur on or about October 9th, 2025 and is not subject to receipt of a minimum amount of gross proceeds. Certain insiders of the Company may participate in the Offering. Any participation by insiders in the Offering. New Risk • Aug 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.2m free cash flow). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (CA$31.6m market cap, or US$23.0m). Anuncio • Aug 23
Pelangio Exploration Inc. Announces an Updated, Independent, Mineral Resource Estimate for Its Manfo Gold Project, Ghana Pelangio Exploration Inc. announced the results of an updated, independent, Mineral Resource Estimate (the " Resource") for the Company's 100% owned Manfo Gold Project ("Manfo") in Ghana. The Resource was completed by SEMS Technical Services Ltd. of Ghana. The Resource, with an effective date of July 31, 2025, is reported for four gold deposits using constraining optimized pits at a gold price of USD 2,600 per ounce, and: Updates Pelangio's Maiden gold resource estimate which was completed in 2013 at a gold price of USD 1,450 per ounce. The Company intends to file a technical report in respect of the Resource within 45 days and will issue an additional news release at that time. The updated Manfo resource estimate demonstrates a substantial increase in both tonnage and contained gold, with a notable improvement in the confidence of the Indicated category. The integration of new drilling data and the addition of the Nkosuo mining lease have materially enhanced the project's scale and potential. The Mineral Resource updates the 2013 maiden mineral resource estimate prepared by SRK Consulting (Canada) Inc. released on May 17, 2013, and filed June 21, 2013. The Nkansu deposit was largely drilled after the 2013 maiden resource was estimated and is a new addition to the total resource at Manfo. Drill assay grades were composited to one-meter lengths with top-cutting varying by resource domain and ranging up to a maximum of 30.0 g/t Au. Mineral resource estimation consisted of standard geostatistical techniques of variography and ordinary kriging applied to wireframe models of mineralization and lithological alteration zones as defined by various interpreted resource domains. An updated Mineral Resource Estimate was completed for the Manfo gold project in August of 2025. Gold mineralization at Manfo occurs in 8 prospects along a 9-kilometer-long structural corridor in a granodiorite intrusive, three of which were drilled to a resource status and were included within the Maiden Resource estimate for Manfo released in 2013. The August 2025 Resource updates the 2013 maiden resource estimate to reflect the increase in gold price since 2013 and incorporates drilling conducted by Pelangio after 2013. SEMS Technical Services updated the original grade block models created in 2013 by SRK Consulting (Canada") Inc. for the Pokukrom East and West deposits to account for post-2013 drilling, a new model was created for the Nkansu deposit, and the Nfante West model remains unchanged since 2013. SEMS used Datamine software to review and update the mineral resource estimation domains, prepare assay data for geostatistical analysis, construct the block models, estimate metal grades, and tabulate mineral resources. Mineral resource estimation consisted ofstandard geostatistical techniques of variable kriging applied to wire frame models of mineralization and Lithological alteration zones as defined by the interpreted resource domains. To demonstrate " reasonable prospects for eventual economic extraction" based upon open pit mining methods and conventional treatment processes, pit optimization techniques were used to generate conceptual pit shells ensuring that appropriate assumptions for the relevant technical and economic factors were considered in the determination of the stated Resource. As a result, the 2013 Resource included material which was above the gold cut-off grades but located outside of the USD 1,450 Au conceptual pit shells (" Outside Pit") but SRK justified its inclusion as Inferred resource material if it was adjacent to and at a shallower elevation than the conceptual pit bottoms on the assumption that under higher gold prices the material " may be economically amenable to open pit extraction". Hosting interpreted extensions of two of the known Manfo mineralized structures plus possibly additional structures as demonstrated by historical exploration work by Ashanti Goldfields (now AngloGold Ashanti) plus considerable workings by artisanal miners, it has been completed in 2013. Anuncio • Jun 25
Pelangio Exploration Inc. Provides an Update on Recent Corporate and Exploration Developments Across Its Ghanaian Gold Projects Pelangio Exploration Inc. provided an update on recent corporate and exploration developments across its Ghanaian gold projects following a two-week site visit by Pelangio's Technical Team: Kevin Thomson, Senior Vice-President, Exploration and Samuel Torkornoo, Vice President Africa in May 2025. Manfo and Nkosuo Option Highlights. Manfo: Engaged with SEMS Exploration in their completion of Mineral Resource Update (MRE) Manfo MRE update: expected completion in Third Quarter 2025. Manfo: site visit with SEMS Exploration and PX Technical Team included GPS checks on drill collar positions, ground status checks, a review of drill core from the 2021-2023. drilling programs and sampling of assay pulps for a check on assays. Nkosuo: conducted preliminary due diligence on Nkosuo project currently under option from FJ Minerals. Nkosuo: identified four or more mineralized trends with similar geology to Manfo. Geological Discussion. Manfo-Nkosuo Projects. Informal/artisanal mining activity at Nkosuo has exposed mineralized structures that align with historical intercepts from Ashanti Goldfields along the Pokukrom-Nfante West mineralized trend as well as on strike with the Nfante Central prospect plus two or more additional structures, suggesting the potential for additional discoveries. UAV Aeromagnetic Survey Progress. A high-resolution UAV-base aeromagnetic survey is about to commence on the Manfo-Nkosuo project covering approximately 900 line-kilometers at 50-meter spacing and is expected to take three weeks, weather permitting. The survey will enhance geological and structural interpretation and assist in identifying new drill targets. Community engagement has been prioritized to ensure smooth operations, particularly in areas where informal mining is active. The survey is expected to start within several days. Recent Insider Transactions Derivative • May 30
President exercised options to buy CA$143k worth of stock. On the 27th of May, Ingrid Hibbard exercised options to buy 2m shares at a strike price of around CA$0.05, costing a total of CA$75k. This transaction amounted to 11% of their direct individual holding at the time of the trade. Ingrid currently holds 13.24m shares (0.06696247641190163 of the company). This was the only transaction from an insider over the last 12 months. Anuncio • Apr 16
Pelangio Exploration Inc., Annual General Meeting, Jun 25, 2025 Pelangio Exploration Inc., Annual General Meeting, Jun 25, 2025. Anuncio • Mar 31
Pelangio Exploration Inc. announced that it has received CAD 1 million in funding On March 29, 2025 Pelangio Exploration Inc. closed the transaction. No finder’s fees are payable in relation to this private placement. All securities issued in this closing of the private placement are subject to statutory four-month hold periods expiring four months after the date of issuance. The private placement remains subject to obtaining final approval of the TSX Venture Exchange. Anuncio • Feb 27
Pelangio Exploration Inc. announced that it expects to receive CAD 1 million in funding Pelangio Exploration Inc. announced a non-brokered private placement to issue 25,000,0000 units at an issue price of CAD 0.04 per unit for gross proceeds of CAD 1,000,000 on February 26, 2025. Each Unit consists of one common share and one Common Share purchase warrant. Each whole Warrant entitles the holder to purchase one Common Share at a price of CAD 0.05 for a period of 3 years from the initial closing date of the Offering. The Offering is subject to customary closing conditions including, but not limited to, receipt of applicable regulatory approvals, including approval of the TSX-V. The closing of the Offering may occur in one or more tranches, with the initial closing date of the Offering expected to occur on or around March 15, 2025 and is not subject to receipt of a minimum amount of gross proceeds. The securities issued pursuant to the Offering will be subject to a four-month and one day hold period in accordance with applicable Canadian securities laws and TSX-V policies. The Offering is open to participation by insiders. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 42% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Negative equity (-CA$823k). Shareholders have been substantially diluted in the past year (42% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$6.04m market cap, or US$4.22m). New Risk • Nov 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$771k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$771k free cash flow). Share price has been highly volatile over the past 3 months (33% average weekly change). Negative equity (-CA$823k). Revenue is less than US$1m. Market cap is less than US$10m (CA$6.04m market cap, or US$4.31m). Minor Risk Shareholders have been diluted in the past year (42% increase in shares outstanding). Anuncio • Sep 09
Pelangio Exploration Inc. announced that it expects to receive CAD 0.4 million in funding Pelangio Exploration Inc. announced a non-brokered private placement to issue 16,000,000 units at an issue price of CAD 0.025 per unit for the gross proceeds of CAD 400,000 on September 8, 2024. Each Unit consists of one common share and one Common Share purchase warrant. Each whole Warrant entitles the holder to purchase one Common Share at a price of CAD 0.05 for a period of three years from the initial closing date of the Offering. The Offering is subject to customary closing conditions including, but not limited to, receipt of applicable regulatory approvals, including approval of the TSX-V. The closing of the Offering may occur in one or more tranches, with the initial closing date of the Offering expected to occur on or around September 30, 2024 and is not subject to receipt of a minimum amount of gross proceeds. The securities issued pursuant to the Offering will be subject to a four-month and one day hold period in accordance with applicable Canadian securities laws and TSX-V policies. The Offering is open to participation by insiders. Anuncio • Sep 04
Pelangio Exploration Inc. Announces CFO Changes Pelangio Exploration Inc. announced that the Company has hired Grove Corporate Services Ltd. announced the appointment of Ms. Donna McLean as Chief Financial Officer effective immediately. Ms. McLean has over 30 years' experience working with numerous publicly traded and private companies, specializing in the areas of financial reporting, controls and administration, and has served as CFO for several junior mineral exploration companies. Ms. McLean will take over the role of CFO from Sabino Di Paola, who served as Pelangio's CFO from May 2023 to September 2024. Anuncio • Aug 16
Pelangio Exploration Inc. Announces That It Is Currently Evaluating the Potential for Near-Term Production At Its Manfo Gold Project in Southwest Ghana Pelangio Exploration Inc. announced that it is currently evaluating the potential for near-term production at its Manfo gold project in Southwest Ghana. A review of the resource models of the three deposits at Manfo to determine the gold content and tenor of mineralization at shallow depths which could be exploited by open-pit mining is underway and will proceed to a formal study of possible near-term production scenarios which could be economic under the current record high gold price. The 96 km² Manfo project is located in the Sefwi-Bibiani greenstone belts of the Paleoproterozoic Birimian of southwest Ghana, 15 km southeast of Newmont's Ahafo gold mine and 40 km north of Asante Gold's Bibiani gold mine. Pelangio acquired the property in 2010 and conducted considerable exploration resulting in seven significant gold discoveries with three of them drilled to a resource status. In 2013 SRK Consulting (Canada) estimated the project hosts a gold mineral resource of 195,000 oz (at 1.5 g/t Au) Indicated and 298,000 oz (at 1.0 g/t Au) Inferred with the majority of the resource contained in the adjacent Pokukrom East and West deposits.¹ SRK used a gold price of $1,450 USD per ounce Au and a cut-off grade of 0.5 g/t Au for their MRE. Refer to SRK's NI43-101 report "Mineral Resource Evaluation Technical Report, Manfo Gold Project, Ghana" released on June 21, 2013, for the details. In 2021 Pelangio identified opportunities to grow the project through step-out drill testing of open-ended mineralization in the known deposits plus drill testing of multiple exploration targets along and near the 9 km of mineralized structures within the property. Diamond drilling programs were conducted by Pelangio in 2021 and 2023 with a total of 1,423 meters of drilling conducted at the Pokukrom East and West deposits. These drilling programs and their results are detailed in Pelangio's press releases of November 16, 2021 and July 24, 2023. The results were encouraging and demonstrated extensions to the known mineralization in both deposits and concluded continued drilling around the deposits for potential resource additions is warranted. Significant intercepts from the 2021 and 2023 drill programs included: A number of resource extensional targets around the Pokukrom deposits remain to be drill tested which could deliver additions to the two Pokukrom deposits with successful infill drilling, and property-wide exploration drilling planned to test 20+ targets has yet to be conducted. These targets consist principally of untested favourable geological and structural settings with lower-order Au in soils anomalism that could deliver one or several satellite deposits with drilling successes. While the longer term goal is to develop Manfo into a significantly larger project through continued resource and exploration drilling programs, it is recognized that the significant resource contained at Manfo could present a near term opportunity for a smaller ‘starter' mining project that exploits a shallower portion of the gold resource, which could capitalize a larger project down the road. The mineralization at Manfo comes to surface and some of the best gold grades are near surface. With the increase in the gold price from USD 1,450 in 2013 to USD 2,400 now, the economics of gold production at Manfo is expected to be much improved. A review of the resource models at Manfo to determine the gold content and tenor of mineralization at shallow depths which might be exploited by one or several smaller open-pits has commenced and will proceed to a formal study of possible near-term production scenarios which could be economic under the current record high gold price. New Risk • Aug 11
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$787k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$787k free cash flow). Shares are highly illiquid. Negative equity (-CA$559k). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.09m market cap, or US$2.25m). Minor Risk Shareholders have been diluted in the past year (41% increase in shares outstanding). Anuncio • Jul 05
Pelangio Exploration Inc. Appoints Kamar Jones to the Board of Directors Pelangio Exploration Inc. announced the appointment of Kamar Jones to its Board of Directors. Mr. Jones is a seasoned executive with a unique blend of expertise in capital markets and mining consulting. With nearly three decades of experience, he has developed a robust understanding of the financial mechanisms that drive market success and the operational intricacies essential to mining consulting. Mr. Jones has been involved in multiple turnaround mining projects. Anuncio • Apr 28
Pelangio Exploration Inc., Annual General Meeting, Jun 28, 2024 Pelangio Exploration Inc., Annual General Meeting, Jun 28, 2024. Anuncio • Apr 17
Pelangio Exploration Inc. announced that it has received CAD 0.5 million in funding On April 16, 2024, Pelangio Exploration Inc. closed the transaction. The company issued up to 25,766,666 units a price of CAD 0.015per unit for gross proceeds of CAD 386,499.99 in its second and final tranche. The company paid total finders' fees in relation to both the first and second tranche of the private placement to eligible finders consisting of CAD 23,000 in cash and 1,533,333 warrants. The transaction included participation from certain insiders of the company for an aggregate total of CAD 85,500. Anuncio • Feb 29
Pelangio Exploration Inc. announced that it expects to receive CAD 0.5 million in funding Pelangio Exploration Inc announced a non-brokered private placement to issue 33,333,333 units at a price of CAD 0.015 per Unit for a gross proceeds CAD 499,999.995. Each unit consists of one common share of the company and one Common Share purchase warrant. Each whole Warrant entitles the holder to purchase one common share at a price of CAD 0.05 for a period of five years from the initial closing date of the Offering. The closing of the Offering may occur in one or more tranches, with the initial closing date of the Offering expected to occur on or around March 30, 2024 and is not subject to receipt of a minimum amount of gross proceeds. The securities issued pursuant to the Offering will be subject to a four-month and one day hold period in accordance with applicable
Canadian securities laws and TSX-V policies. The Offering is open to participation by insiders. The Offering is subject to customary closing conditions including, but not limited to, receipt of applicable regulatory approvals, including approval of the TSX-V. Anuncio • Sep 12
Pelangio Exploration Inc. announced that it expects to receive CAD 0.5 million in funding Pelangio Exploration Inc. announced a non-brokered private placement to issue 16,666,666 units at an issue price of CAD 0.03 per unit for the gross proceeds of CAD 499,999.98 on September 11, 2023. Each Unit consists of one common share and one Common Share purchase warrant. Each whole Warrant entitles the holder to purchase one Common Share at a price of CAD 0.05 for a period of five years from the initial closing date of the Offering. The Offering is subject to customary closing conditions including, but not limited to, receipt of applicable regulatory approvals, including approval of the TSX-V. The closing of the Offering may occur in one or more tranches, with the initial closing date of the Offering expected to occur on or around September 25, 2023 and is not subject to receipt of a minimum amount of gross proceeds. The securities issued pursuant to the Offering will be subject to a four-month and one day hold period in accordance with applicable Canadian securities laws and TSX-V policies. The Offering is open to participation by insiders. Anuncio • Sep 07
Pelangio Exploration Inc. Provides Update on Activities in Ghana and Canada Pelangio Exploration Inc. provided an update on recent activities and plans for its projects in Ghana and Canada. The recently completed Manfo 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 significant discovery on its Mann Northwest property enhances interest in adjacent Mann property (2.2 km away). The agreement provides both exploration funding and access to a technical team with over 125 years of expertise on the extremely prolific Ashanti gold belt, including significant experience at the Obuasi mine itself. Secondly, Manfo drill program extended known mineralization at the southern ends of both the Pokukrom East, and West deposits. It identified opportunities to grow the project through step-out drill testing of open-ended mineralization in the known deposits to demonstrate possible extensions that would be further drilled for potential resource addition, plus drill testing of multiple exploration targets along and near the 9 kilometers of mineralized structures within the property. A 3,700-meter diamond drilling program was designed to test potential extensions of the Pokukrom West and in late 2021, drilling commenced with two holes at the smaller, higher-grade Pokukrom West deposit. This program was completed in June 2023. The drill program, detailed in Pelangio's news release of July 24, 2023, tested for strike and down-dip extensions in select areas of both Pokukrom deposits, in addition to a soil plus auger gold geochemical target sitting on the western flank of Pokukrom East. While the program eliminated the geochemical target and downgraded the potential shallow northern strike extension to Pokukrom West above the successful 2021 down-plunge drill test, drilling demonstrated a continuation of the Pokukrom West mineralization incrementally further to the south of the deposit plus a down-dip extension of Pokukrom East at the southern end of the deposit. The down-dip drill test at the shallower southern end of the deposit intercepted 0.71 g/t Au over 20 meters plus 1.66 g/t Au over 7 meters, including 1 meter of 8.43 g/t Au. The resource estimation was made in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects at the time of the mineral resource estimation in 2013. NI 43-101 standards for disclosure have been amended multiple times since 2013 and as a result, Pelangio's 2013 resource estimate is no longer NI 43-101 compliant under the current standards. Obuasi was Pelangio's project in Ghana from 2007 until drilling on the Manfo Project started demonstrating mineral resource potential and litigation between vendors of two of the four claims of the Obuasi property hindered exploration activities on the property. With the litigation now resolved and a recently signed binding letter of intent ("LOI") to option a portion of the Obuasi property to TuNya Mineral Resources, Pelangio is turning new focus to the Obuasi project. Pelangio conducted considerable work on the Obuasi project from 2007 to 2011, including two airborne VTEM/magnetic surveys, geological and geochemical surveys, and trenching plus diamond drilling focused on just a hand of prospects that returned Obuasi-style geology and alteration with anomalous to significant drill intercepts from nearly all targets drill tested. It was the focus of early exploration drilling by Pelangio, returning anomalous results but no significant discovery. Working with TuNya and their new products, Pelangio expects to be able to develop a more informed ranked target list for ongoing Obuasi exploration. Location of Pelangio's Obuasi and Dankran Projects in Relation to AngloGold Ashanti's Obuasi Mine. Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Director Al Gourley was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Aug 31
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$143k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$974k free cash flow). Share price has been highly volatile over the past 3 months (35% average weekly change). Negative equity (-CA$143k). Earnings have declined by 6.2% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$3.84m market cap, or US$2.83m). Minor Risk Shareholders have been diluted in the past year (32% increase in shares outstanding). Anuncio • Jul 25
Pelangio Exploration Inc. Completes Diamond Drilling At Manfo Project, Ghana and Provides Assay Results Pelangio Exploration Inc. completed a 1,039.5 diamond drill program at the Pokukrom East and West deposits on its Manfo Project located 15 kilometers south-southeast of Newmont's Ahafo Mine and 40 kilometers north of Asante Gold's Bibiani Mine. A diamond drilling program was conducted on the Manfo Projec tbetween March 17 and June 19, 2023 with all assays recently received. Seven holes were drilled for a total of 1,039.5 meters to test for extensions to the known mineralization plus exploration targets around the Pokukrom deposits with four of the holes totaling 701.7 meters at Pokukrom East and three holes totaling 337.8 meters at Pokukrom West. At Pokukrom West drill holes SPDD23-001 and SPDD23-002 tested for a northern extension of the Pokukrom West mineralization above hole DD21-002 which in 2021 successfully demonstrated a down-plunge continuation of Pokukrom West returning 3.19 g/t Au over 12 meters, including 6.85 g/t Au over 3 meters. The two holes did intersect alteration corresponding to the Pokukrom West zone, however gold assays were weak. Future drilling will consider testing further down-plunge of DD21-002. Drill hole SPDD23-006 tested for an extension to the high-grade oxide mineralization of Pokukrom West which was open-ended to the south intercepting 1.88 g/t Au over 13 meters, including 4.01 g/t Au over 4 meters, which could extend the resource model incrementally to the south. The oxide mineralization remains open to the south and auger drilling anomalism south of SPDD23-006 indicates additional shallow drilling further to the south is warranted. At Pokukrom East two holes, SPDD23-003 AND SPDD23-004, were drilled to evaluate a strong soil anomaly with coincident auger drill hole anomalism sitting on the northwestern flank of the Pokukrom East deposit between Pokukrom East and West. The two drill holes intersected a wide zone of alteration similar to that which hosts the mineralization at Pokukrom, but disappointingly the assay results were weak. Holes SPDD23-007 and SPDD-008 were planned to test gaps in the historical drilling at the southern end of the Pokukrom deposit with the potential of adding to the resource model at shallow levels. Hole SPDD23-007 intersected 0.71 g/t Au over 20 meters including 1.32 g/t over 6 meters, followed by a second zone of 1.66 g/t Au over 7 meters including 8.43 g/t Au over 1 meter. Mineralization remains open down-dip in this area and there is potential to extend the modeled resource deeper here at a gold price higher than the $1,450 used in the pit optimizations in 2013. Drill hole SPDD23-008 drilled a little further to the south and at a shallower level intersected a 20 meter wide zone of moderate alteration and anomalous gold, however there was only one assay returned above the cut-off of 0.4 g/t Au. Diamond drilling was conducted using an SA13000 small footprint diamond drill rig. HQ coring was conducted in the oxide, which ranged from 15 to 40 meters and averaged 25 meters deep, followed by NQ2 coring to the bottom of hole. The drill holes were spotted in the field with a hand-held GPS with locational accuracy of +/- 5 meters or so. Drill collar positions will be surveyed more accurately at a later date. A Champ-Magshot multi-shot survey instrument was used for down-hole survey readings every 30 meters. Samples were obtained at 1 meter intervals by sawing the drill core in half with a diamond saw and submitting half core mostly to the Intertek Minerals Limited laboratory in Tarkwa, Ghana for 50g Fire Assay for gold, and one drillhole was analyzed at ALS Ghana Limited's laboratory in Kumasi, Ghana also for 50g Fire Assay. QA/QC samples, including certified standards, blanks and duplicate core samples (1/4 split drill core), were inserted into the drill sample stream at a rate of one in ten samples. The QA/QC results were within acceptable limits. The laboratory also performed their own internal QA/QC checks, which were also acceptable. The true thicknesses of the mineralized drill intercepts reported here ranged from 75% of the drill core length in hole SPDD23-006 to 97% of core length in hole SPDD23-007. Anuncio • Jul 12
Pelangio Exploration Inc. Announces Settlement of Obuasi Litigation Pelangio Exploration Inc. announced that settlement agreements have been reached to resolve all outstanding litigation with respect to an action commenced in 2009 in the Ghana High Court involving the vendor of two of the four prospecting licenses comprising Pelangio's Obuasi property. The two prospecting licenses involved in the litigation and referenced as Kyereboso 2 License and Kyereboso 3 License in the attached Figure 1 are hereinafter referred to as the "Property". The litigation related to a dispute between the Property vendor's corporate history and the estate of one of its founding shareholders (the "Plaintiff). Pelangio was subsequently added as a co-defendant in 2012. Although no monetary consideration was claimed from Pelangio by the Plaintiff in the litigation, an interlocutory injunction had been granted which had the effect of preventing all parties from selling any interest in or conducting mining on the Property pending final determination of the matter. Terms of Settlement: The settlement provides that upon the acceptance of the settlement terms by the Ghana High Court and entry of such settlement terms as a binding consent judgment resulting in full resolution in addition to release of all claims asserted by the Plaintiff, or such claims that could have been asserted by the Plaintiff, directly or indirectly in the litigation and permanently releasing any injunction or other restrictions on the Property resulting from the litigation, Pelangio will make five payments of USD 20,000 and issue Pelangio common shares having a value of CDN$50,000 in three tranches over one year, subject to approval of the share issuances by the TSXV. The consideration has been agreed upon as a compromise and final settlement of disputed claims and payment of the amounts set forth herein and the issuance of the Common Shares is not an admission of liability by any party and is not to be construed as an admission that any party engaged in any wrongful, tortious, or unlawful activity. Anuncio • May 24
Pelangio Exploration Inc. Announces Chief Financial Officer Changes Pelangio Exploration Inc. announced that Paul Rokeby has retired as Chief Financial Officer of the Corporation. Sabino Di Paola has been appointed as the Chief Financial Officer of Pelangio Exploration Inc. Mr. Di Paola is a Chartered Professional Accountant with over 15 years of public company and finance experience. Mr. Di Paola brings cross-industry experience in raising capital, strategic business planning, regulatory compliance, and corporate governance. Mr. Di Paola is the current CFO of Sandfire Resources America Inc. and he has been the CFO for publicly traded companies operating within the mineral exploration and natural resources, natural health, biotech pharmaceutical and infrastructure sectors. Recent Insider Transactions • Dec 28
President recently sold CA$66k worth of stock On the 23rd of December, Ingrid Hibbard sold around 2m shares on-market at roughly CA$0.03 per share. This transaction amounted to 36% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Ingrid has been a net seller over the last 12 months, reducing personal holdings by CA$32k. Anuncio • Oct 23
Pelangio Exploration Inc. announced that it expects to receive CAD 0.6 million in funding Pelangio Exploration Inc. announced a non-brokered private placement of 20,000,000 units at issue price of CAD 0.03 per unit for gross proceeds of CAD 600,000 on October 21, 2022. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of CAD 0.05 for a period of 3 years from the closing date of the offering. The transaction will include participation from insiders for approximately 15% of the offering. The transaction is subject to customary closing conditions including receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The company will pay finders fees of 7% of cash and 7% warrants. The transaction will close in one or more tranches, with the initial closing date of the offering expected to occur on or around October 31, 2022. The securities are subject to a hold period of four-month-and-one-day from the closing of the transaction. Anuncio • Jun 10
Pelangio Exploration Inc. Completes Phase 1 Drill Program At Gowan Project Pelangio Exploration Inc. completed 1,035 meters of drilling in six holes on its Gowan Project. The drill program tested several priority geophysical targets for nickel copper sulphides as well as copper zinc volcanogenic massive sulphide mineralization "VMS"targets. Drill targets in the north target area (NTA) of the property were associated with known historical copper zinc drill intercepts. The project is located within the Kidd-Munro assemblage, the same environment that hosts the Kidd Creek Mine, just 16 kilometers northwest of the Gowan project. A follow-up ground induced polarization (IP) survey in the fall of 2021 was initiated to further evaluate a large airborne EM (VTEM) anomaly on the Gowan Property. This survey outlined two significant IP anomalies. In the NTA an IP anomaly was outlined and is known to be associated with historical copper mineralization. The second IP anomaly in the south target area (STA) suggests the possibility of a nickel-copper disseminated sulphide-type target. This IP anomaly was coincident with a previously identified airborne VTEM target associated with a strong magnetic response. These targets were the focus of the recent drill program. Concurrent with drilling Pelangio commissioned a Maxwell Plate modelling study of the airborne VTEM survey data to examine it further for more subtle anomalies. This work outlined six new targets of interest. One of the targets "B" is spatially associated with the known copper occurrences in the NTA. The other five targets are new areas of interest; targets A, C, and F are proximal to established IP targets while targets E and D represent new areas of interest on the property. These targets will undergo additional analysis to establish definitive drill hole locations for subsequent drilling. Pelangio has also recently commissioned a second airborne electromagnetic survey (AirTEM) with a revised flight line orientation. It is anticipated that this new survey will assist with further evaluation of current targets and possibly generate new targets prior to a second phase of drilling. It is anticipated that the airborne survey will be completed within the next few weeks. A total of four holes were completed on the NTA to evaluate the extension of known historical copper mineralization associated with a coincident IP anomaly. Drill holes GO2201, GO2202 and GO2203 intersected substantial disseminated pyrite, magnetite and occasionally minor chalcopyrite. Hole GO2201A was lost in 52 meters of overburden. The sulphide mineralization encountered is interpreted to be the cause of the IP anomaly and associated magnetic anomaly. The best copper mineralization from drilling on the NTA was an anomalous intercept from hole GO2202 which returned 0.24% Cu over 1.5 m from 76.5 m to 78 m. Hole GO2202 also returned an anomalous zinc intercept of 0.25% Zn over 1 meter from 206 to 207 meters. In hole GO2202 a 6.24 meter interval from 121.30 to 127.54 meters with up to 10% pyrite and minor strongly conductive semi massive pyrite over short sections contained moderately anomalous copper values up to 0.11% copper over 0.5 meters. No significant gold mineralization was detected in the NTA drill holes. Note: Intervals described here are core lengths. Two holes were planned to evaluate two induced polarization and magnetic anomalies coincident with a large VTEM response in the STA. Extremely difficult overburden and drilling conditions were encountered in this area. Hole GO2204A was lost in 94 meters of overburden and abandoned. Hole GO2204 was interpreted to have been drilled subparallel, or within a major fault zone after encountering 92-meter of overburden. The hole was abandoned prematurely due to the difficult drilling conditions and a 3-meter sand seam at the end of hole; this sand seam was interpreted to represent a possible fault zone. Drilling at the STA did not explain the cause of the VTEM and further evaluation of the STA will be required. A petrological study and whole rock analysis is currently underway in order to obtain a better understanding of the Gowan Property lithology and the geological environment hosting known historical base metal mineralization in the NTA. A number of samples are also being examined from the STA to further assess the lithology intersected within the large VTEM anomaly. This geological information will be compiled along with all recent geophysical surveying completed by Pelangio including the AirTEM survey currently underway. It is anticipated that a series of priority targets will be defined by this work for a second phase of drilling. The Company wishes to acknowledge the contribution by the Province of Ontario towards exploration at the Gowan Project. Pelangio was awarded a $150,000 grant through the Province's OJEP program, which assists junior exploration companies with their exploration efforts in Ontario. This grant made a significant contribution to the cost-effective, early-stage evaluation of this project. Anuncio • Apr 24
Pelangio Exploration Inc., Annual General Meeting, Jun 22, 2022 Pelangio Exploration Inc., Annual General Meeting, Jun 22, 2022. Anuncio • Feb 11
Pelangio Exploration Inc. Updates on the Diamond Drill Program At Its Gowan Polymetallic Project, Ontario Pelangio Exploration Inc. announced that the diamond drill program at its Gowan polymetallic project is underway. The project is well located within the Kidd-Munro assemblage, the same environment that hosts the Kidd Creek Mine, just 16 kilometers northwest of the Gowan project. The drill program will test several priority geophysical targets for nickel copper sulphides as well as copper zinc volcanogenic massive sulphide mineralization "VMS". Drill targets in the northern portion of the property are associated with known historical base metal drill intercepts in a VMS environment. Pelangio recently commissioned Maxwell Plate modelling of the airborne VTEM survey data to examine it further for more subtle anomalies. This work outlined six new targets of interest. One of the targets "B" is spatially associated with the known copper occurrences in the IP Anomaly 1 Area where drilling is currently underway. The other five targets are new areas of interest; targets A, C, and F are proximal to established IP targets while targets E and D represent new areas of interest on the property. These targets will undergo additional analysis to establish definitive drill hole locations for subsequent drilling. VMS Target- IP Anomaly 1: This IP target and associated historical copper intercepts hosted within felsic volcanics represents a high priority copper-zinc VMS target. The anomaly has a southeasterly strike of approximately 400 meters. Two historical holes designated Hole 2 and 77-1 were drilled parallel to the outer edge of the IP anomaly and intersected some significant base metal mineralization in a felsic volcanic package. Hole 2 returned 10.97 meters of 0.32% copper and 11.99 g/t silver including a higher-grade intercept of 3.81 meters grading 0.66% copper and 10.62 g/t silver. Hole 77-1 skimmed the southern extremity of the anomaly and returned an anomalous section grading 0.18% copper and 2.24 g/t silver over 5.79 meters with a higher-grade section assaying 0.45% copper and 4.8 g/t silver over 1.67 meters. Nickel Copper Type Prospect - IP Anomaly Coincident with VTEM - IP Anomaly 2: The recently completed IP survey also outlined a broad, 400 meter wide IP anomaly coincident with the airborne VTEM anomaly and represents a high priority nickel-copper type prospect. The IP anomaly was detected across all three survey lines cut across the airborne VTEM anomaly, and extends from east to west for a minimum of 270 meters and is open to the east and west. Limited proximal historical drilling on the periphery of the IP anomaly and associated magnetic data suggests that the IP anomaly is hosted in ultramafic rocks. Anuncio • Dec 23
Pelangio Exploration Inc. announced that it expects to receive CAD 0.625 million in funding Pelangio Exploration Inc. announced a non-brokered private placement of 6,250,000 units at a price of CAD 0.1 per unit for gross proceeds of CAD 625,000 on December 22, 2021. Each unit consists of one common share and one quarter of common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.15 per share for a period of one year from the date of closing. The transaction is subject to approval from regulatory and TSX Venture Exchange. The securities are being subject to four months and one day hold period. The?closing of the transaction may occur in one or more tranches, with the initial closing date of the transaction expected to occur on or around?December?30, 2021 and is not subject to receipt of a minimum amount of gross proceeds. The Company may pay to certain introducing parties, in respect of the transaction, finder’s fees of up to?8% cash, subject to compliance with applicable securities legislation and TSX-V policies. Anuncio • Jul 23
Pelangio Reports Results from Maiden RC Drill Program at Dankran Project, Ghana Pelangio Exploration Inc. announced the completion of a maiden reverse circulation (“RC”) exploration drilling program on its Dankran project in Ghana, with a number of significant drill intercepts returned. The program was designed as an initial test of several gold (“Au”)-in-soil anomalies identified on the Dankran project plus test for the strike extension of the Obuom Mine structure immediately to the northeast of Dankran. The drilling program confirmed the Obuom Mine trend as the most promising target at Dankran, intercepting multiple generally narrow zones of mineralization with indications of higher-grade potential in one hole and width potential in another hole. Highlights of the Dankran RC Drilling Program: 2,491 meters of RC drilling in 36 holes completed on 6 drill fences, Ten holes returned significant results (at a cut-off of 0.40 g/t Au) with grades up to 6.07 g/t Au over 2.0 meters and mineralized widths up 0.47 g/t Au over 10.0 meters, along a strike length of 2.5 kilometers, Several significant Au-in-soil anomalies remain to be tested, however future work will principally focus on the extension of the Obuom Mine trend where this program returned significant intercepts. Anuncio • Jun 18
Pelangio Exploration Inc. announced that it has received CAD 0.75 million in funding On June 17, 2021, Pelangio Exploration Inc. (TSXV:PX) closed the transaction. The company issued 718,750 flow-through units for gross proceeds of CAD 275,000 in the final tranche. In connection with the closing of the final tranche, the company paid finder's fees to Leede Jones Gable, an arm's length finder, consisting of CAD 5,250 in cash and 32,812 non-transferrable warrants. All securities issued in the final tranche, including the finder warrants, are subject to a statutory hold period expiring on October 18, 2021. The transaction remains subject to final acceptance by the TSX-V. Anuncio • Jun 15
Pelangio Exploration Inc. Receives the Final Data on the VTEM Plus Electromagnetic Survey over Its Gowan Polymetallic Project Pelangio Exploration Inc. announced it has received the final data on the VTEM Plus electromagnetic survey over its Gowan polymetallic project located 27 kilometers ("km") northeast of Timmins and 16 km east of Glencore's Kidd Mine. The final data confirmed a broad 1.5 km by 1 km electromagnetic ("EM") response located on the flank of a strong magnetic response,
proximal to known copper, zinc, silver volcanogenic massive sulphide ("VMS") occurrences. The 100%-owned, Gowan polymetallic project is a 4.3 km2 property located in Gowan Township, 27 km northeast of the City of Timmins, Ontario and 16 km due east of Glencore's Kidd Mine Site. The property is prospective for both copper-zinc VMS deposits with associated precious metals, and nickel-copper sulphide deposits. The northeastern portion of the Gowan property is underlain by a prospective felsic volcanic package of rocks associated with feldspar porphyritic intrusives. Limited exploration efforts in the early to mid -1970's focused on evaluating the northern portion of the property for a Kidd-style copper-zinc VMS deposit. These early exploration programs were successful in demonstrating the potential for this type of mineralization. The highlight of these early exploration efforts was a broad semi-massive sulphide intercept grading 0.32% Cu and 0.35 oz/ton Ag over 36 feet. A shorter interval within this broad section returned 0.66% Cu and 0.31 oz/ton Ag over 12.5 feet including an interval of 0.95% Cu and 0.20 oz/ton Ag across 3 feet. Also of note is a bedrock sample from the bottom of a reverse circulation ("RC") drill hole which returned 2.26% Cu and 0.11 oz/ton Au. Very limited follow up was conducted on the massive sulphide intercepts and no drill follow up was completed on the copper-gold occurrence detected in the bottom of the RC hole. The southern portion of the property is interpreted to be underlain by ultramafic volcanics from limited drilling and magnetic data. This area of the property is thought to be a prospective for nickel-copper sulphides. Anuncio • May 22
Pelangio Exploration Inc. announced that it expects to receive CAD 0.75 million in funding Pelangio Exploration Inc. (TSXV:PX) announced a non-brokered private placement of 4,687,500 flow-through units at issue price of CAD 0.16 per flow-through unit for gross proceeds of CAD 750,000 on May 21, 2021. Each flow-through unit consists of one common share and one half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of CAD 0.20 per share for a period of 18 months from the closing of the transaction subject to to adjustment in certain events and provided that if after four months and one day after the closing date of the transaction the VWAP of the common shares on the TSX Venture Exchange is at or above CAD 0.40 for a period of 15 consecutive trading days, the company may accelerate the expiry date of the warrants by disseminating a press release and in such case the Warrants will expire on the 20th day after the date on which such press release is disseminated. The shares to be issued shall have a hold period of four-month and one day from closing of the transaction. The transaction may include participation from insiders of the company for 27% of the offering. The company may pay to certain parties finders fees of 7% cash and 7% warrants. The transaction is subject to customary closing conditions including but not limited to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The closing of the transaction may occur in one or more tranches with the initial closing date of the transaction expected to occur on or around June 3, 2021. Anuncio • May 21
Pelangio Exploration Inc. Announces Reverse Circulation Drilling Program Is Underway on Its Dankran Project in Ghana Pelangio Exploration Inc. announced that a Reverse Circulation drilling program is underway on its Dankran Project in Ghana. Two hundred twenty-five meters have been drilled with three holes completed so far. This RC drilling program will serve as a first pass test of multiple targets identified over the past several months, with a focus on the most prospective soil anomalies at the northern end of the Dankran Project. Dankran property is a 34.65 square kilometer Prospecting License optioned by Pelangio Exploration from BNT Resources Ghana Ltd. in November 2020 and is contiguous to the northeastern corner of Pelangio’s Obuasi Project. The Dankran Property is adjacent to and on strike with the historic Obuom Mine which produced 29,000 ounces of gold at an average grade of 16 g/t Au from underground workings in the 1930’s. The property covers nearly seven km of strike of highly prospective geology and regional structures along the western flank of the Ashanti Belt, which hosts AngloGold Ashanti’s giant Obuasi Mine 20 km to the southwest. In December 2020, an initial soil sampling program was completed on the Dankran property consisting of 1,126 samples. This program delivered 10 significant gold-in-soil anomalies as reported by Pelangio Exploration on January 28, 2021. In order to better define these soil anomalies for drill testing, programs of infill and extensional soil sampling were conducted during January through March 2021 with an additional 843 soil samples collected. Four strike extensive trends of gold in soil anomalism have now been identified at Dankran. The recent programs focused on the northern end of the Dankran property, closest to the historic Obuom Mine, where gold in soil anomalism is strongest, with multiple soil samples returning greater than 1 g/t Au. The current drilling program will focus on testing this area. The southwestern extensions of the soil anomalism are presently undergoing further infill soil While conducting the follow up soil sampling programs over the past several months, mapping and prospecting efforts have traced the possible extension of the Obuom Mine structure to the northern edge of the Dankran Property through the identification of a series of active artisanal underground workings on the Small-Scale Mining Permit Area immediately to the north of Dankran. The interpreted extension of this trend into the Dankran Property appears to define the eastern margin of soil anomalism on the northern end of Dankran, with considerable gold in soil anomalism flanking the structure to the west, and weak soil values returned from an extension of the soil sampling coverage to the east of the interpreted Obuom structure. The current exploration drilling program will consist of 2,700 meters of RC drilling on six fences of drill holes, each hole being 80 meters long and inclined towards the southeast, to test the most prospective gold in soil anomalies at the northern end of the Dankran Property. Drilling will also test the interpreted strike extension of the Obuom structure into the Dankran property. The drill program is expected to run for three to four weeks. Favorable results from the current program will be followed up in subsequent drilling programs, which will also test targets developed along the southwestern extensions of the soil anomalous trends currently undergoing continued infill soil sampling and prospecting. Anuncio • May 08
Pelangio Exploration Inc. Provides Exploration Update on Hailstone Pelangio Exploration Inc. has completed a total of 908 meters of diamond drilling and tested eight targets at its Hailstone project located in Northern Saskatchewan. All assay results have now been received. The eight holes intersected shear zone structures, extensive disseminated pyrite and zones of silicification associated with pyrite, however, there were no significant gold values to report from this first drill program. The recent drill program was focused on the Asbell Bay target area. These holes targeted known gold occurrences such as the Bornite Zone which returned surface grabs of 15.9 g/t Au and 2.68% Cu as well as several coincident geophysical and gold till anomalies along the 1.8 km long Asbell Bay trend. Although the recent drill program did not detect significant gold mineralization the eight drill holes did intersect zones of interest. These zones included shear zone structures, extensive disseminated pyrite and zones of silicification associated with pyrite. These geological indicators along with known gold occurrences are all indicative of a favourable environment for gold deposition. Exploration to date on the property has been concentrated on approximately 3% of the 75 square kilometer property. In light of the project s proximity to a number of former gold mines and deposits with similar prospective property geology at Hailstone the Company intends to continue to evaluate the property and plan for further target development work. Particular attention will be paid to areas where high gold grain counts in till samples were detected on the periphery of the Asbell Bay trend; these areas require further follow up. The 75 square kilometer property is located within the Central Metavolcanic Belt of the La Ronge Domain of north-central Saskatchewan, which represents a portion of the Paleoproterozoic Trans-Hudson Orogeny. The property comprises a southwest-northeast trending metavolcanic succession intruded by multi-phase intrusive rocks of the Berven quartz-rich pegmatite dikes associated with southwest-northeast trending shear zones subsidiary to the terrane- bounding McLennan Lake Tectonic Zone. Anuncio • Mar 18
Pelangio Exploration Inc. Appoints Joyce Rosalind Aryee to the Board of Directors Pelangio Exploration Inc. (‘Pelangio’ or the ‘Company’) announced 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. Anuncio • Mar 10
Pelangio Commences Diamond Drill Program at Hailstone, Saskatchewan Pelangio Exploration Inc. announced that it has commenced the initial diamond drill program on its 75 square kilometer ("km2") Hailstone gold project in the La Ronge Gold Belt, Saskatchewan. Highlights of the Hailstone Gold Project: Initial diamond drill program commenced at the Hailstone gold project; Drill program focussed on the Asbell Bay target area, which represents a small portion (3%) of the entire 75 km2 property; Eight high priority drill targets to test 1 km of the 1.8 km Asbell Bay trend; Bornite zone occurrence (bedrock grab samples assayed up to 15.9 g/t gold) to be tested; Crocodile Zone occurrence (rock grab samples returned values up to 1.65 g/t Au) to be tested; Project located proximal to several former gold producers and deposits in geological environments similar to the Hailstone project. The Hailstone property is surrounded by a number of historical gold mines and occurrences in geological environments similar to that at Hailstone. The property is located within the Central Metavolcanic Belt of the La Ronge Domain of north-central Saskatchewan, which represents a portion of the Paleoproterozoic Trans-Hudson Orogeny. The property comprises a southwest-northeast trending metavolcanic succession intruded by multi-phase intrusive rocks of the Berven Lake Pluton. Gold and copper ("Cu") mineralization on the property is hosted within quartz veins and quartz-rich pegmatite dikes associated with southwest-northeast trending shear zones subsidiary to the terrane-bounding McLennan Lake Tectonic Zone. Anuncio • Feb 19
Pelangio Exploration Inc. Announces Additional Significant Assay Results with Values Up to 1325 Parts Per Billion from an Infill Soil Sampling Program Completed on Its Dankran Project in Ghana Pelangio Exploration Inc. announced additional significant assay results with values up to 1325 parts per billion from an infill soil sampling program completed on its Dankran Project in Ghana during January 2021. The latest results further define the gold-in-soil anomalies at the northern end of the property, sufficiently delineated for drill testing. The program also added to the anomalies in the south west which will be refined with further infill soil sampling. Additionally, prospecting identified a significant trend of artisanal hard-rock workings extending from the historic Obuom Mine into the Dankran property. Exploration of this trend is prioritized for the upcoming 2,500 meter drill program. Preparations for drilling are under way. The Dankran property is a 34.65 square kilometer Prospecting License optioned by Pelangio Exploration from BNT Resources Ghana Ltd. in November 2020 and is contiguous to the northeastern corner of Pelangio's Obuasi project. The Dankran property is adjacent to and on strike with the historic Obuom Mine which produced 29,000 ounces of gold at an average grade of 16 g/t Au from underground workings in the 1930's. The property covers nearly seven km of strike of highly prospective geology and regional structures along the western flank of the Ashanti Belt, 20 km to the northeast of AngloGold Ashanti's tier one Obuasi Mine. In December 2020, an initial soil sampling program was completed on the Dankran property consisting of 1,126 samples. This program delivered 10 significant gold-in-soil anomalies as reported by Pelangio Exploration on January 28, 2021. In order to better define these soil anomalies for drill testing, a program of infill sampling was conducted in January 2021, with 467 soil samples collected at 80m spacing in the north to 160m spacing to the southwest. Assays have been received for all but 26 samples, with additional highly anomalous values reported up to 1,325 ppb Au. Further infill soil sampling is planned to refine the anomalies in the southwest, while the northern anomalies are drill ready. A Reverse Circulation drill program is being mobilized to evaluate several of the stronger anomalies which extend for up to 1,250m from the Obuom Small Scale Mining Permit boundary southwest into the Dankran Property. During the January infill soil sampling program, a concurrent mapping and prospecting program was undertaken to locate sites of small-scale artisanal hard rock mining activity extending from the historic Obuom Mine into the northern end of the Dankran property. A series of small, historic and current mining sites were identified on the Obuom Small Scale Mining Permit area striking south-southwest into Dankran, consisting of hand-dug vertical shafts accessing quartz vein material at depth. Assays from limited grab sampling at these mining sites have not yet been returned, and geological exposures and mapping conducted to date are insufficient to determine the widths of potential mineralization. This trend of artisanal mining activity lies along the very eastern limit of the current soil sampling. In light of this new information, soil sampling program has been extended east to cover the strike extension of artisanal mine workings to refine this target area, for drill testing in the 2,500 m program. Future work at Dankran will consist of further RC and diamond drilling programs to follow up results from the upcoming maiden RC drilling program at the northern end of the property, as warranted by results. Efforts will also be ongoing to develop additional targets for drill testing elsewhere on the Dankran property, particularly the strong areas of anomalism emerging from work to date in the southwestern part of the property. Geophysical surveys are not currently planned, however at some stage either or both aerial and ground geophysics may be necessary to aid the exploration for mineralization that is not so evident in the soil geochemistry. However, soil geochemistry, mapping and prospecting efforts to date have been highly successful in identifying a number of compelling targets for ongoing drill testing. Samples were collected from 0.50 to 0.75m deep hand-dug pits at 80m intervals along lines spaced 80 to 320m apart. Predetermined sample positions were located by a hand-held GPS with a horizontal accuracy of approximately 5m. A sample was obtained at each designated sample site regardless of the regolith material present. Predominantly residual soils were sampled, but where covered, alluvium and artisanal mining disturbed material was also occasionally sampled. Samples weighing approximately 2 to 3 kg each were submitted to the Intertek Minerals Limited laboratory in Tarkwa, Ghana, and were dried and pulverized with > 85% of the sample passing 75m or better. A 1 kg subsample was riffle split from the processed sample and analyzed for gold by way of a 12-hour cyanide leach bottle roll using LeachwellTM with an AAS finish and a lower detection limit of 0.01 ppm Au. Where repeat assays were performed on samples by the laboratory, the mean of the two assays was used for plotting the results. Is New 90 Day High Low • Jan 27
New 90-day high: CA$0.21 The company is up 40% from its price of CA$0.15 on 28 October 2020. The Canadian market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 19
New 90-day high: CA$0.20 The company is up 17% from its price of CA$0.17 on 20 October 2020. The Canadian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 4.0% over the same period. Anuncio • Jan 15
Pelangio Outlines High Priority Gold Targets At Its Hailstone Property Pelangio Exploration Inc. announced that is has received the results from its 2020 till sampling programs and subsequent Induced Polarization-Resistivity ("IP") survey at its Hailstone property in Northern Saskatchewan. These results are very encouraging and indicate high priority gold targets associated with surface gold mineralization. Highlights of the Hailstone Property: Recent till sampling of the Asbell Bay target area confirmed two anomalous areas of interest, the - Bornite Zone and the Crocodile Zone, with samples containing a significant number of gold grains; These anomalous areas are associated with known gold occurrences, with grab samples assaying up to 15.9 g/t gold ("Au") (Bornite Zone target) as reported previously by Pelangio; Peripheral till sampling proximal to known mineralized zones also detected isolated highly anomalous till samples. To the southwest of the Crocodile Zone, one such sample contained 270 gold grains suggesting additional till sampling work is warranted for further target development in other sections of this highly prospective, under-explored property; In December 2020, an IP survey was conducted on a select portion of the Asbell Bay target area (the Bornite Zone and Crocodile Zone occurrences) and related till anomalies which outlined numerous targets associated with both till anomalies and various gold occurrences; The Hailstone property is surrounded by a number of historical gold mines in geological environments similar to Hailstone. The 75 square kilometer ("km2") Hailstone property is located within the Central Metavolcanic Belt of the La Ronge Domain of north-central Saskatchewan, which represents a portion of the Paleoproterozoic Trans-Hudson Orogeny. The property comprises a southwest-northeast trending metavolcanic succession intruded by multi-phase intrusive rocks of the Berven Lake Pluton. Gold and copper ("Cu") mineralization on the property is hosted within quartz veins and quartz-rich pegmatite dikes associated with southwest-northeast trending shear zones subsidiary to the terrane-bounding McLennan Lake Tectonic Zone. Grab samples collected during 2019 highlighted significant grades of 15.9 g/t Au and 2.68% Cu in and around the Bornite Zone in the northern portion of the Asbell Bay area. During limited prospecting in 2020 the North Copper Zone, 225m northeast of the Bornite Zone, was sampled and returned anomalous gold and copper concentrations. The addition of the North Copper Zone to the other six surface showings in the Asbell Bay area results in a total prospective strike length of 1,800m. Note, the reader is cautioned that selected grab samples are not necessarily representative of mineralization on the property. In 2020, Pelangio initiated a target development program at the Hailstone property to follow up on a number of prospective gold occurrences, outlined in 2019 by prospecting efforts in the northeastern portion of the property. The Company completed 95.66 line kilometers ("km") of airborne magnetic surveying at a line spacing of 30m in order to provide detailed geophysical information over known zones of mineralization. This work outlined a number of linear magnetic features parallel to the McLennan Lake Tectonic Zone and a broad magnetic low, all spatially associated with outcropping gold occurrences. During the summer and fall of 2020, two programs of till sampling (84 samples in total) were completed and were subject to gold grain analysis by Overburden Drilling Management. A total of 55 samples or 65% of samples collected returned gold grain counts above 20. These results are considered anomalous when compared to a deposit case study in the Star Lake region (Sopuck et al, 1983) approximately 20km to the northeast of the property. A total of seven (7) samples or 8.3% of the samples collected contained highly anomalous gold grain counts with a range of 120 to 270 gold grains in the individual samples. The till sample work also demonstrated significant anomalous responses relative to the known zones of mineralization in outcrop at the Bornite and Crocodile Zones. Peripheral till sampling proximal to known mineralized zones also detected isolated highly anomalous till samples. To the southwest of the Crocodile Zone one such sample contained 270 gold grains, suggesting further till sampling work is warranted near secondary occurrences and across the property. Some very limited prospecting was carried out in conjunction with the first phase till sampling program, this work resulted in the discovery of a new bedrock occurrence, designated the North Copper Zone which returned 0.79 g/t gold and 2.14% Cu. Based on till sample results, airborne magnetic data and surface gold occurrences, an induced polarization survey was focused on the immediate areas surrounding the Bornite and Crocodile zones. Geophysical survey work (IP) resulted in the outlining of eleven targets of interest for follow up drill testing. These targets are currently being reviewed and prioritized. Anuncio • Jan 09
Pelangio Exploration Inc. Announces Assay Results from the Phase 2 Drill Program Completed in the Fall of 2020 on Grenfell Gold Project, Located Near Kirkland Lake, Ontario Pelangio Exploration Inc. announced it has received and reviewed all assay results from the phase 2 drill program completed in the fall of 2020 on its Grenfell gold project, located near Kirkland Lake, Ontario. The drill program successfully intercepted gold in both higher-grade narrow vein intersections and a series of new gold bearing intercepts. These results indicate continued success from the phase 1 drilling program completed in the spring of 2020. The Grenfell property is comprised of 38 mining cells and 8 leased claims covering an area of approximately 6.7 square kilometers and is located 10 kilometers northwest of the Town of Kirkland Lake Ontario. The recent drill program consisted of five holes totaling 540m. Two holes JS2013 and JS2014 targeted the No.6/No.1 vein intersection proximal to the 250 foot (76m) level historical workings and also further evaluated the depth extension of No.6 and No.1 Veins. Two holes JS2009 and JS2010 targeted the historical Shea Vein and Central targets respectively, also just above the 76m level workings. The Shea Vein and Central Target represented two NW trending target zones; these targets were drill tested due to their similar orientation to the No.6 Vein known to be associated with significant gold mineralization as demonstrated by Pelangio in early 2020. Hole JS2011 targeted the up dip extension of the No.1 Vein above the 76m level, as only extremely limited historical drilling had previously tested the up dip extent of this No.1 Vein. Historical chip sampling of the No.1 Vein on the 76m level sill drift returned 0.2 oz/ton gold over a width of three feet over 180 feet of strike length. A single hole (JS2009) successfully intersected the Shea Vein target and returned 1.51 g/t Au over 1.8m. Historical data shows this vein has a strike length of approximately 65m; thus, limited drill testing has been completed on this system. Gold mineralization on the Shea Vein is present in a quartz vein hosted within a gabbro unit with minor leucoxenes. A single hole (JS2010) was completed on the Central Target. No significant results were obtained and an explanation for approximately 60m of underground drifting on the 76m level on the Central target remains unknown. Hole JS2011 targeted the up dip extension of the No.1 Vein; slightly anomalous gold was noted in the target area of the up dip projection, however a broader zone of mineralization was noted in the hanging wall of the No.1 Vein which returned 1.26 g/t Au over 6.8m including a higher grade intercept of 4.91 g/t Au over 1.5m. The mineralized zone in JS2011 is hosted in a mafic volcanic unit with minor quartz stringers; the better value of 4.91 g/t Au over 1.5m is adjacent to a fault zone. Holes JS2013 and JS2014 demonstrated there is potential for new zones of mineralization and additional high- grade narrow vein mineralization. This is shown by the new higher grade intercept in JS2013 which returned 10.95 g/t Au over 3m and the additional mineralized intercepts in Hole JS2014 which returned 1.45 g/t Au over 9m and 1.76 g/t over 4.50m. All of these zones described are located in the hanging wall of the No.1 Vein which has very few holes along its entire 54m (180 foot) strike length. The higher grade intercept of 10.95 g/t Au over 3m in hole JS2013 is associated with stringers of quartz within a gabbro unit with minor leucoxene alteration. The intercepts in JS2014 are hosted in a locally bleached gabbro unit with leucoxene alteration, and some pyrite mineralization generally less than 1%. Work to date at Grenfell by Pelangio has demonstrated the potential for both narrow vein high-grade mineralization and a number of new zones of near surface lower grade gold mineralization associated with the No.6 and No.1 Vein systems. The geometry and relationship of these mineralized zones is not adequately understood at this time. The Company intends to input all pertinent historical data and recently acquired drill data into a geological model to assist in a better understanding of the mineralized zones. Pelangio will also review and prioritize a number of significant geophysical anomalies with coincident geochemical anomalies which remain to be drill tested. The combination of these efforts will better define priority target areas for further drilling. Anuncio • Nov 18
Pelangio Exploration Inc. announced that it expects to receive CAD 1.8 million in funding Pelangio Exploration Inc. (TSXV:PX) announced a non-brokered private placement of hard dollar units at a price of CAD 0.13 per share unit and flow-through common shares at a price of CAD 0.17 per share for gross proceeds of CAD 1,800,000 on November 16, 2020. Each hard dollar unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase a common share at a price of CAD 0.18 for a period of 2 years from closing, subject to accelerated expiry if the volume weighted average price of common shares on the TSX Venture Exchange at or above CAD 0.30 for 15 consecutive days. The securities issued will be subject to hold period of four months and one day. The transaction is subject to customary closing conditions including applicable regulatory approvals including approval of TSX Venture Exchange. The company may receive funding in one or more tranches with the initial tranche expected on December 8, 2020. The company may pay finder's fee of 7% cash and 7% non-transferable warrants subject to TSX policies. Anuncio • Sep 23
Pelangio Exploration Inc. Commences Drilling at Grenfell Project to Follow Up on Previous High-Grade Results Pelangio Exploration Inc. announced that a phase 2 drill program has begun at its Grenfell gold project located 10 kilometers ("km") northwest of Kirkland Lake Ontario. The phase 2 drill program is expected to run for about two weeks and assay results will be released thereafter. The Grenfell Gold Project is comprised of 38 mining cells and eight leased claims covering an area of approximately 6.7 km2, located 10 km northwest of the Town of Kirkland Lake Ontario. Following further analysis of the successful phase 1 March 2020 drilling program, a number of targets in the vicinity of the old mine workings have been prioritized for this drill program. All core logging and sampling were conducted in a secure core logging facility in Timmins Ontario. Core logging and sampling of NQ diamond drill core was carried out by J.K. Filo P.Geo. Core logging and sampling adhered to 43-101 protocols and industry standard best practices. Each drill hole was sampled entirely and sample lengths varied from 0.26 meters to 1.5 meters maximum. Drill core was sawn in half with a diamond saw, tagged, and placed in securely sealed bags. Samples were transported to Actlabs facility in Timmins, Ontario by Pelangio personnel. Half of the core was retained for reference purposes. Gold analysis was completed using a standard fire assay with a 50-gram charge with and atomic absorption (AA) finish (Actlabs 1A2-50 Procedure). Samples over 5 grams/ton were re-assayed by fire assay with a gravimetric finish. With each batch of 25 samples, one blank and one Oreas gold standard were submitted for analysis for QA/QC purposes. QA/QC samples were within acceptable tolerance levels.