Targets from UAV Magnetics Survey at Obuasi, Ghana TORONTO, Ontario ( January 2 7 th , 202 5 ) – Pelangio Exploration Inc. (PX:TSX - V; OTC PINK:PGXPF) (“Pelangio” or the “Company ”) is pleased to announce that a geochemical pitting program planned to test
1
NEWS RELEASE
Pelangio
Exploration
Com
mences Exploration Follow Up Testing of
Targets from UAV Magnetics Survey at Obuasi, Ghana
TORONTO, Ontario (
January
2
7
th
,
202
5
)
–
Pelangio Exploration Inc. (PX:TSX
-
V; OTC PINK:PGXPF)
(“Pelangio” or the “Company
”)
is pleased to announce
that a geochemical pitting program planned to test
targets resulting from the recently completed UAV magnetics survey has commenced on Pelangio’s Obuasi
property.
Ingrid Hibbard, President and CEO,
commented:
“The UAV airborne magnetics survey
recently completed on Pelangio’s Obuasi property
has
resulted in a
more accurate interpretation of the strike extension of the Obuasi Mine trend onto Pelangio’s adjacent
property. A program of geochemical pitting has commenced to explore 2.5 kilometers of strike of the
interpreted trend over an area which ha
s experienced no previous trenching or drill testing.
We
are
confident
the program will aid significantly in the understanding of this
priority
target area at Obuasi and
should define specific targets for further evaluation
by trenching and
/or
drill testing.”
Background
The
ongoing work at Obuasi is
in support
of TuNya Mineral Resources Ltd.’s
US$250,000 technical study
,
which is part of their earn
-
in agreement on the southern Tarkwaian portion of
Pelangio’s
Obuasi property.
TuNya
recommended and undertook
a
high
-
resolution
UAV magnetic survey conducted over one of the
most prospective areas of Pelangio’s property, completed in December of 2024.
The survey has better
defined
high magnetic strata
interpreted to represent the strike extension of the mafic volcanic unit which
,
along its western flank
,
most
of the mineralization at the Obuasi mine is situated.
The interpreted strike extension of the Obuasi mine trend
o
nto Pelangio’s adjacent
ground
has experienced
little historical drill testing with the majority of Pelangio’s
2008
-
2010 drill testing being situated 200
-
1,200
meters west of the interpreted
target
structure.
The planned geochemical pitting program will initially
evaluate the northern 2.5 kilometers strike of the target trend and is expected to provide a better
understanding of the geology and
gold distribution over this area for further testing
(
Fi
gure 1
).
This method
also engages local workers for temporary roles, fostering collaboration with the community and further
strengthening our position as a responsible exploration partner.
Pelangio Exploration Inc. News Release
–
January
2
7
, 202
5
82 Richmond Street East, Toronto, ON
M5C 1P1 T: 905
-
336
-
3828
2
Plan
n
ed Program
The
geochemical pitting program will consist of hand
-
dug pits
,
2 meters X 1 meter in area
,
and 2 or more
meters deep excavated at 100 meter intervals along 200 meter spaced lines.
One
-
meter channel samples
will be obtained from pit
bottoms and analyzed
for
gold by fire assay.
Given the very steep, hilly nature of
t
he
area, hand digging pits will be
quicker and less environmentally impactful than employing a mechanical
excavator.
One hundred pits are initially planned
with approximately 25% of the program designated higher
-
priority
to be dug first followed by a pause to allow receipt of assays.
Depending upon the results the survey should
continue, possibly being expanded, reduced and/or infilled as warranted.
If demonstrated to
be
an effective
exploration method, additional pitting
will
be planned to evaluate
the fold feature to the east, where
numerous high
-
grade rock chip samples were obtained in the past which have only been
very
lightly drill
tested
.
Following the pitting program, which is expected to take approximately two months
for the entire 100
-
sample program
, areas of significant anomalism and/or prospective geology may be evaluated further with
a targeted trenching program. Highly prospective targets to emerge from these programs will then be
considered for drill testing.
Pelangio Exploration Inc. News Release
–
January
2
7
, 202
5
82 Richmond Street East, Toronto, ON
M5C 1P1 T: 905
-
336
-
3828
3
Figure 1.
Location of Planned Pitting on Recent UAV Magnetics Survey, Obuasi Property
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 technical data disclosed in this release.
About Pelangio
Pelangio acquires and explores prospective land packages located in world
-
class gold belts in Ghana, West
Africa and Canada. In Ghana, the Company is focused on its two 100% owned camp
-
sized properties: the
100 km
2
Manfo property, the site of eight near
-
surface gold discoveries, and the 284 km
2
Obuasi property,
located 4 km on strike and adjacent to AngloGold Ashanti’s prolific high
-
grade Obuasi Mine, as well as the
Pelangio Exploration Inc. News Release
–
January
2
7
, 202
5
82 Richmond Street East, Toronto, ON
M5C 1P1 T: 905
-
336
-
3828
4
Dankran property located adjacent to its Obuasi property. See www.pelangio.com for further
details
on all
Pelangio’s properties.
For additional information, please visit our website at
www.pelangio.com
,
or contact:
Ingrid Hibbard, President and CEO
Tel: 905
-
336
-
3828 / Email:
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 wo
rds 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 ce
rtain
actions,
events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward
-
looking statements
and information include statements regarding the Company’s strategy of acquiring large land packages in areas of sizeable gol
d
minerali
zation, and the Company’s ability to complete the planned exploration programs.
Regarding forward
-
looking statements
and information contained herein, we have made many assumptions, including about the state of the equity markets.
Such forward
-
looking stat
ements 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 exp
ressed or implied by such forward
-
looking statement or information. Such risks include the changes in equity
markets, share price volatility, volatility of global and local economic climate, gold price volatility, political developmen
ts in Ghana,
and Canad
a, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including the risk that favourable
exploration results may not be obtained
, near
-
term production may not
be
viable,
,
delays due to COVID
-
19
or other
safety protocols,
and other risks involved in the gold exploration industry. See the Company’s annual and quarterly financial statements and
management’s discussion and analysis for additional information on risks and uncertainties relating to the forward
-
looking
statemen
t 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 o
r
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 informati
on 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 Ven
ture
Exchange) accepts responsibility for the adequacy or accuracy of this release.