Pelangio Exploration Completes Share Consolidation

Pelangio Exploration Inc.

Pelangio Exploration Inc. News Release – July 5, 2018 1

82 Richmond Street East,

Toronto, ON M5C 1P1

Tel: 905-336-3828

Fax: 905-336-3899

NEWS RELEASE

PELANGIO EXPLORATION COMPLETES SHARE CONSOLIDATION

TORONTO, Ontario (July 5, 2018) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio” or the

“Company”) is pleased to announce that further to its news release dated June 15, 2018, the TSX Venture Exchange

has approved the consolidation of the Company’s issued and outstanding common shares (“Common Shares”) on

the basis of one post-consolidation Common Share for every ten pre-consolidation Common Shares, and the

Company has proceeded with the consolidation as planned.

Effective at the opening of the market on July 6, 2018, Pelangio’s shares will commence trading on the TSX Venture

Exchange on a consolidated basis under the new CUSIP number 705646503. The Company’s name and trading

symbol will not change as a result of the consolidation. The Company will have approximately 27,411,833 Common

Shares issued and outstanding as a result of the consolidation.

Letters of transmittal with respect to the consolidation will be sent to registered shareholders. All registered

shareholders of the Company will be required to send their certificates representing pre-consolidation Common

Shares with a properly executed letter of transmittal to the Company’s transfer agent, Computershare Investor

Services Inc. in Toronto, Ontario (“Computershare”) (Shareholder Services – Toll Free (North America) 1-800-564-

6253, Overseas 1-514-982-7555 or [email protected]). Shareholders who hold their shares

through their broker or other intermediary and do not have actual share certificates registered in their name will

not be required to complete and return a letter of transmittal. Additional copies of the letter of transmittal can be

obtained through Computershare. All shareholders who duly complete letters of transmittal and submit their pre-

consolidation Common Share certificates to Computershare will receive a Direct Registration Advice representing

the number of post-consolidation Common Shares to which they are entitled to pursuant to the terms of the

consolidation.

Further details with respect to the consolidation are contained in the Company’s Management Information Circular

dated April 13, 2018, a copy of which is available on SEDAR at www.sedar.com.

About Pelangio

Pelangio successfully acquires and explores camp-sized land packages in world-class gold belts. 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 three 100%-owned camp-sized

properties: the 100 km2 Manfo Property, the site of seven recent near-surface gold discoveries, the 264 km2 Obuasi

Property, located 4 km on strike and adjacent to AngloGold Ashanti’s prolific high-grade Obuasi Mine and the early-

stage 86 km2 Akroma Property which includes the Dormaa concession. Pelangio has also renewed its interest in its

Canadian gold property at Birch Lake, Ontario.

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

Ingrid Hibbard, President and CEO

Tel: 905-336-3828 / Toll-free: 1-877-746-1632 / Email: [email protected]

Forward Looking Statements

This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to

differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”,

“plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements.

Such statements reflect our current views with re spect to future events and are subject to such risks and uncertainties.

Manyfactors could cause our actual results to differ materially from the statements made, including those factors discussed in

Pelangio Exploration Inc. News Release – July 5, 2018 2

filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties occur

or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those

described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update

these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such

forward- looking statements.

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.