Pelangio Exploration Inc. Files Ni 43-101 Technical Report FOR the Mineral Resource Estimate Update ON Its Manfo Project and Provides Exploration Update

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NEWS RELEASE

PELANGIO EXPLORATION INC. FILES NI 43-101 TECHNICAL REPORT FOR THE MINERAL RESOURCE

ESTIMATE UPDATE ON ITS MANFO PROJECT AND PROVIDES EXPLORATION UPDATE

TORONTO, Ontario (September 10th, 2025)

Pelangio Exploration Inc. (TSXV: PX) (OTC PINK: PGXPF) (“Pelangio” or the “Company”) is pleased to

announce that the updated, independent, Mineral Resource Estimate (the "Resource") for the Company’s

100% owned Manfo Gold Project ("Manfo") in Ghana and completed by SEMS Technical Services Ltd. of

Ghana is filed on SEDAR. As well, we are pleased to provide an exploration update.

 The Resource defines a total Indicated Mineral Resource of 441,000 ounces of gold at an average

grade of 1.16 g/t Au and totalling 11,787,000 tonnes; and

 Defines a total Inferred Mineral Resource of 396,000 ounces of gold at an average grade of 0.77

g/t Au and totalling 16,048,000 tonnes.

 Adds a fourth deposit to the Resource for Manfo, the Nkansu deposit.

 Represents an increase of 126% in estimated gold ounces in the Indicated category plus an

increase of 395% in estimated gold ounces in the Inferred category as compared to the Maiden

pit-constrained mineral resource estimate that used $1,450 Au for its pit optimization.

 Plans for a $7,600,000 staged exploration program including up to 45,000 metres of drilling.

 Exploration programs are underway on Manfo and Nkosuo with the near completion of high-

resolution UAV magnetics and orthophoto surveys and drilling is expected to start in November.

Manfo Mineral Resource Update

An updated Mineral Resource Estimate (“MRE”) for the Manfo gold project in Ghana was completed in

August 2025 by SEMS Technical Services Ltd. of Ghana. The NI 43-101 Technical Report detailing the MRE

update, with an effective date of July 31, 2025 and signed on September 03, 2025 has been filed and is

now available for review on SEDAR+ (www.sedarplus.ca) and will be posted to the company’s website

(www.pelangio.com).

The MRE update conducted by SEMS Technical Services resulted in a total Indicated resource for the

Manfo Project of 11,787,000 tonnes averaging 1.16 g/t Au for 441,000 ounces of gold plus a total Inferred

resource of 16,048,000 tonnes averaging 0.77 g/t Au for 396,000 ounces of gold. The Resource is

contained in four deposits along a strike length of 4.9 kilometres. The pit-constrained MRE was conducted

using a gold price of US$2,600/ounce for the conceptual pits and gold cut-off grades of 0.35 g/t Au for

the transitional and fresh mineralization and 0.25 g/t Au for oxide mineralization (refer to Table 1).

Pelangio Exploration Inc. News Release – September 10th, 2025

82 Richmond Street East, Toronto, ON M5C 1P1 T: 905-336-3828

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The 2025 MRE update represents a substantial increase over the Maiden pit-constrained Mineral

Resource Estimate, which was conducted at a gold price of US$1,450/ounce, with an increase of 126% in

total Indicated gold ounces and a 395% increase in total Inferred gold ounces (refer to Table 2).

Refer to the 43-101 Technical Report “Independent Technical Report and Mineral Resource Estimation for

the Manfo Gold Project, Ghana” filed on SEDAR+ for the details.

Table 1. 2025 Mineral Resource Statement for the Manfo Gold Project

Classification Indicated Inferred

Category

Cut-off Grade

(g/t Au)

Quantity

(000' tonnes)

Grade

(g/t Au)

Cont. Gold

(000' oz)

Quantity

(000' tonnes)

Grade

(g/t Au)

Cont. Gold

(000' oz)

Oxide 0.25 55 1.30 2 1,024 0.69 23

Transition 0.35 458 1.70 25 2,017 0.79 51

Fresh 0.35 11,274 1.14 414 13,007 0.77 322

Totals 11,787 1.16 441 16,048 0.77 396

Notes:

1. The Indicated mineral resource and the Inferred mineral resource are reported in accordance with Canadian

Securities Administrators National Instrument 43-101 – Standards of Disclosure for Mineral Projects and have been

estimated following the generally accepted CIM ‘Estimation of Mineral Resource and Mineral Reserves Best

Practices Guidelines’ (2014).

2. Mineral resources are distinct from mineral reserves, have not demonstrated economic viability, and there is no

certainty that they will be converted into a mineral reserve.

3. The Mineral Resource estimate was prepared by independent Qualified Persons Simon Meadows Smith (FIMMM #

49627) and Andrew Netherwood (MAusIMM #100463) of SEMS Technical Services Ltd. Ghana and has an effective

date of July 31, 2025.

4. Factors that could materially affect the reported Mineral Resource include changes in metal price and exchange

rate assumptions; changes to assumed metallurgical recoveries, mining dilution and recovery; and assumptions as

to the continued ability to access the site, extend and/or retain mineral and surface rights, titles and permits,

maintain environmental and other regulatory permits, and continued community and stakeholder support for

ongoing activities.

Table 2. Comparison of the Pit-Constrained Mineral Resource Estimations for 2013 and 2025

Resource Parameters Indicated Inferred

Year

Cut-off

Grades

(g/t Au)

Gold

Price

USD

Quantity

(000'

tonnes)

Grade

(g/t Au)

Cont.

Gold

(000' oz)

Quantity

(000'

tonnes)

Grade

(g/t Au)

Cont.

Gold

(000' oz)

2013 0.40/0.50 1,450 3,973 1.52 195 2,253 1.10 80

2025 0.25/0.35 2,600 11,787 1.16 441 16,048 0.77 396

% Increase / (Decrease) 197 (24) 126 612 (30) 395

Resource Growth and Exploration Potential

Pelangio Exploration Inc. News Release – September 10th, 2025

82 Richmond Street East, Toronto, ON M5C 1P1 T: 905-336-3828

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With 396,000 gold ounces (16,048,000 tonnes at an average grade of 0.77 g/t Au) of the Resource in the

2025 update being in the Inferred category, SEMS Technical Services has recommended drilling programs

to upgrade the Resource. Additionally, much of the mineralization remains open-ended on the Manfo

project and there is scope to expand the gold resource through successful resource extensional drilling

and infill drilling follow up. Figure 2, which is a vertical long-section of the gold grade block model for the

Pokukrom East deposit, shows the deposit remains open down-plunge and the shallower southern end of

the deposit is open down-dip. Additionally, the northern and southern ends of the conceptual $2,600 Au

optimized pit are undrilled and not reflected in the current Resource. Further drilling at Pokukrom East as

well as at the other three deposits could potentially add significantly to the total Resource.

Exploration drilling programs have also been proposed for the Manfo property and there is potential to

add one or more satellite deposits to the project with numerous compelling untested exploration targets

remaining such as the large Bomfaa gold-in-soil anomaly two to three kilometres northwest of the

Pokukrom deposits (refer to Figure 1).

The greatest exploration potential is believed to be through the recent addition of the Nkosuo Mining

Permit immediately south of the Manfo property. Pelangio believes that there is potential for at least

Manfo-scale discovery on Nkosuo. This view is based on limited historical exploration completed by

AshantiGoldfields (now AngloGoldAshanti) demonstrating extensions to the Manfo mineralized structures

and two or three subsidiary structures into Nkosuo Lease, plus the considerable past and current work by

artisanal miners. Pelangio has commenced exploration on the Nkosuo Lease with a UAV (drone)

orthophotography survey extending over both the Manfo and Nkosuo licenses now complete. The drone

high-resolution magnetics survey over the same area is now 97% complete, although weather has delayed

the flying of the last several lines. Geological mapping, prospecting and soil sampling will follow once the

magnetic survey is completed and interpreted and will be combined with the orthophotography to assist

targeted mapping and prospecting.

Between the resource expansion drilling and exploration programs for new discovery, Pelangio believes

the gold resource contained in the Manfo-Nkosuo combined project can be grown substantially above its

current level at relatively low discovery / resource addition costs. SEMS Technical Services in collaboration

with Pelangio Exploration have designed a US$7.6M staged work program of resource expansion drilling,

resource upgrade drilling plus aggressive exploration and follow-up drilling on both the Manfo and Nkosuo

licenses with Nkosuo being the immediate priority. The program includes expenditures of US$3.3M with

27,000 meters of combined diamond and reverse-circulation drilling directed towards initial resource

expansion and new discovery. Assuming success a follow up program costing US$4.3M with 18,000+

meters of mostly infill diamond drilling would be conducted to quantify possible resource additions to

mostly the Indicated category. Drilling is expected to start in November 2025. The start of exploration

drilling on the Nkosuo Lease will not begin until the drone surveys are completed and compiled and the

mapping, prospecting and soil sampling programs are well underway. This will provide a well-documented

list of rated and ranked targets to pursue. There are numerous compelling walk-up exploration drill

targets already evident particularly at Nkosuo.

Pelangio Exploration Inc. News Release – September 10th, 2025

82 Richmond Street East, Toronto, ON M5C 1P1 T: 905-336-3828

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Figure 1. Map of the Manfo – Nkosuo Project and 2025 MRE Deposit Locations

Pelangio Exploration Inc. News Release – September 10th, 2025

82 Richmond Street East, Toronto, ON M5C 1P1 T: 905-336-3828

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Figure 2. Vertical Long-section of the Pokukrom East Block Model

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.

Mr. Thomson approved the scientific and technical disclosure in this release.

About Pelangio Exploration Inc.:

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

President and CEO Tel: 905-336-3828 / / Email: [email protected]

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 ability to complete proposed targeted infill drilling, step-

out drilling and exploration to further define and expand the resource base, as well as further drilling at Pokukrom

East and the other deposits, potential expansion of the Resource, potential conversion of Inferred to Indicated

ounces, planned work programs, advancing technical studies, future development decisions, the potential addition

of satellite deposits, the potential for a large discovery at Nkosuo, the Company’s strategy of acquiring large land

packages in areas of sizeable gold mineralization, the Company’s plans to follow-up on previous work, and the

Company’s exploration plans. 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

Pelangio Exploration Inc. News Release – September 10th, 2025

82 Richmond Street East, Toronto, ON M5C 1P1 T: 905-336-3828

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information. Such risks include the changes in equity markets, share price volatility, volatility of global and local

economic climate, inability to obtain necessary approvals or permits in Ghana, 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, 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.