Updated MRE Expected by December

TORONTO, ON / ACCESSWIRE / October 2, 2024 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company") is pleased to announce that work has commenced on updating the Mineral Resource Estimate (MRE) for the Manfo Project, located in Ghana's prolific Sefwi Gold Belt. The updated MRE is a critical step forward in advancing the project. The new MRE is anticipated to be completed in December with a site visit by SRK Consulting Ghana Ltd. already completed.

Ingrid Hibbard, President and CEO commented:

"This updated resource estimate enhances our understanding of the asset and sets the stage for future project exploration and development. Our team is eager to advance the Manfo Project and gain deeper insights from the updated resource estimate, which will guide future exploration and development efforts."

The Manfo Project was previously assessed in 2013 with a historic resource of 195,000 ounces of gold (Indicated) and 298,000 ounces (Inferred) and completed using a $1450 gold price.* The project has long held promise for expansion particularly with the increased gold price With the engagement of SRK Ghana and a renewed focus on exploration, Pelangio aims to build on the project's potential, targeting an increased resource and setting the stage for subsequent development milestones.

Qualified Person

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

About Pelangio Exploration Inc.

Pelangio Exploration Inc. is a Canadian-based mineral exploration company focused on advancing its portfolio of gold projects in West Africa and Canada. The company's strategy is centered on acquiring and developing highly prospective projects with the potential for significant returns. Pelangio holds a 100% interest in several properties located on the prolific Sefwi and Ashanti Gold Belts in Ghana and continues to advance its exploration efforts in one of the world's most productive gold regions.

^*The Manfo mineral resource estimation was conducted by SRK Consulting for Pelangio and published in June 2013. (Refer to the Mineral Resource Evaluation Technical Report, Manfo Gold Project, by SRK Consulting (Canada) Inc., released on June 21, 2013 and available on Pelangio's website). 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.

For further information, please contact:

Ingrid Hibbard, CEO
Pelangio Exploration Inc.
Email: ihibbard@pelangio.com
Tel: 905-336-3828

Forward Looking Statements

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SOURCE: Pelangio Exploration Inc.