Pelangio Exploration Announces Receipt of $1,395,933 IN Proceeds from Warrant Exercise

Pelangio Exploration Inc. News Release – December 23 2025

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

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NEWS RELEASE

PELANGIO EXPLORATION ANNOUNCES RECEIPT OF $1,395,933

IN PROCEEDS FROM WARRANT EXERCISE

TORONTO, Ontario ( December 23rd, 20 25) – Pelangio Exploration Inc. (PX:TSX -V; OTC

PINK:PGXPF) (“Pelangio” or the “Company” ) announces that it has received gross proceeds of

$1,395,933.35 from the exercise of 27,9 18,667 common share purchase warrants at an exercise

price of $0.05 per warrant. The Company issued 27,918,667 common shares upon exercise of these

warrants.

The Company intends to apply the proceeds to advancing its projects and for general working capital

and corporate purposes. This includes continued work across its Ghana and Canadian portfolios.

Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-

V) accepts responsibility for the adequacy or accuracy of 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 exploring its two 100% owned camp -

sized properties: the 100 km2 Manfo property, the site of eight near -surface gold discoveries, and

the 284 km2 Obuasi property, located 4 km on strike and adjacent to AngloGold Ashanti’s prolific

high-grade Obuasi Mine, as well as the Dankran property located adjacent to its Obuasi property.

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

Ingrid Hibbard, President and CEO

16328076.2

Pelangio Exploration Inc. News Release – December 23, 2025

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82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899

T: 905-336-3828 // E: [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 "do es

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", "w ould", "might" or "will" be taken, occur or be

achieved. Forward -looking statements and information include statements regarding 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 information. Such risks

include the ability of the Company to conduct our exploration programs as planned, changes in

equity markets, share price volatility, volatility of global and local economic climate, gold price

volatility, political developments in Ghana, increases in costs, exchange rate fluctuations,

speculative nature of gold exploration 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.