Pelangio Exploration Grants Options
Pelangio Exploration Inc.
440 Harrop Dr., 2nd Floor Milton, Ontario L9T 3H2 Phone (905) 875-3828 Fax (905) 875-3829
NEWS RELEASE
PELANGIO EXPLORATION GRANTS OPTIONS
TORONTO, Ontario (January 19, 2012) – Pelangio Exploration Inc. (PX:TSX-V; PGXPF:OTC) (“Pelangio” or the “Company”) is pleased to announce that the Board of Directors has approved the grant of 1,465,000 options to directors, officers, employees and geological consultants of the Company, which options are exercisable into common shares of the Company at a price of $0.43 per share. Subject to the rules of the TSX Venture Exchange and the Company's Stock Option Plan the options have a term of five years and will expire on January 18, 2017.
About Pelangio
Pelangio successfully acquires and explores camp-sized land packages in world-class gold belts, while using innovative corporate restructuring to maximize shareholder value. The Company primarily operates in Ghana, West Africa, an English-speaking, common law jurisdiction that is consistently ranked amongst the most favourable mining jurisdictions in Africa. The Company is exploring two 100%-owned camp-sized properties: the companymaking 100 km2 Manfo Property, the site of five recent near-surface, high grade and bulk tonnage, gold discoveries, and the potentially game-changing 290 km2 Obuasi Property, located four kilometres on strike and adjacent to AngloGold Ashanti’s prolific, high-grade Obuasi Mine, which has produced over 30 million ounces of gold since 1897.
For additional information, please visit our website at www.pelangio.com, follow us on Twitter @PelangioEx or contact:
Ingrid Hibbard, President & CEO or Brendan Cahill, VP Corporate Development Tel: 905-875-3828 / Toll-free: 1-877-746-1632 / Email: [email protected]
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Martti Kangas, Principal Proconsul Capital Tel: 647-521-9261 / Email: [email protected]
Neither 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.