Pelangio Exploration Drilling Base Metal Targets at Gowan Project, Ontario

Pelangio Exploration Inc. News Release – February 9, 2022

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

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NEWS RELEASE

PELANGIO EXPLORATION DRILLING BASE METAL TARGETS AT GOWAN PROJECT, ONTARIO

TORONTO, Ontario (February 9, 2022) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio” or the

“Company”) is pleased to announce that the diamond drill program at its Gowan polymetallic project is underway.

The project is well located within the Kidd -Munro assemblage, the same environment that hosts the Kidd Creek

Mine, just 16 kilometers northwest of the Gowan project. The drill program will test several priority geophysical

targets for nickel copper sulphides as well as copper zinc volcanogenic massive sulphide mineralization “VMS”. Drill

targets in the northern portion of the property are associated with known historical base metal dril l intercepts in a

VMS environment.

Ingrid Hibbard President & CEO commented “It is always thrilling to begin a drill program. Each exploration program

conducted at Gowan to date has advanced the project and generated compelling targets. Further, while preparing

for the drill program, six additional base metal targets were identified through the use of Maxwell Plate modelling,

adding to the excitement. This highly prospective base metal project recently attracted an option partner which may

earn up to a 50% interest for $2 million over two years (see news release January 20, 2022), which will ensure

significant exploration and drilling continues at Gowan.

Gowan Property Program Discussion: (see Figures 1,2,3)

The follow-up ground induced polarization (IP) survey in the fall of 2021 on the Gowan Prop erty outlined two IP

anomalies. In the northeastern portion of the property, a compelling IP anomaly (IP Anomaly 1) was outlined. IP

Anomaly 1 is associated with historical copper mineralization with in a package of felsic volcanics or a typical VMS

environment. The second anomaly (IP Anomaly 2) confirmed the presence of a nickel-copper type

prospect coincident with a previously identified airborne electromagnetic (EM) or a VTEM target associated with a

strong magnetic response. These targets are the focus of the drill program currently under way.

Pelangio recently commissioned Maxwell Plate modelling of the airborne VTEM survey data to examine it further

for more subtle anomalies. This work outlined six new targets of interest (See Fig.1 Targets A-F). One of the targets

“B” is spa tially associated with the know n copper occurrences in the IP Anomaly 1 Area where drilling is currently

underway. The other five targets are new areas of interest; targets A, C, and F are proximal to established IP targets

while targets E and D represent new areas of interest on the property. These targets will undergo additional analysis

to establish definitive drill hole locations for subsequent drilling.

VMS Target- IP Anomaly 1

This IP target and associated historical copper intercepts hosted within felsic volcanics represents a high priority

copper-zinc VMS target.  The anomaly has a southeasterly strike of approximately 400 meters.  

Two historical holes designated Hole 2 and 77 -1 were dr illed parallel to the outer edge of the IP anomaly and

intersected some significant base metal mineralization in a felsic volcanic package. Hole 2 returned 10.97 meters of

0.32% copper and 11.99 g/t silver including a higher -grade intercept of 3.81 meters grading 0.66% copper and

10.62 g/t silver. Hole 77-1 skimmed the southern extremity of the anomaly (see Fig. 3) and returned an anomalous

section grading 0.18% copper and 2.24 g/t silver over 5.79 meters with a higher -grade section

Pelangio Exploration Inc. News Release – February 9, 2022

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

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assaying 0.45% copper and 4.8 g/t silver over 1.67 meters . (Refere nces: Resident Geologist Assessment Files

Timmins Ontario; Drill Reports by Alamo Petroleum and Newmont Canada).

Nickel Copper Type Prospect - IP Anomaly Coincident with VTEM - IP Anomaly 2

The recently completed IP survey also outlined a broad, 400 meter wide IP anomaly coincident with the airborne

VTEM anomaly and represents a high priority nickel-copper type prospect.

The IP anomaly was detected across all three survey lines cut across the airborne VTEM anomaly, and extends from

east to west for a minimum of 270 meters and is open to the east and west. Limited proximal historical drilling on

the periphery of the IP anomaly and associated magnetic data suggests that the IP anomaly is hosted in ultramafic

rocks.

 Figure 1: General Location Map  

Pelangio Exploration Inc. News Release – February 9, 2022

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

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Figure 2: Compilation Map with Historical Drilling and New Target Areas

Figure 3: IP Pseudosection with Historical Drill Holes

Pelangio Exploration Inc. News Release – February 9, 2022

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

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DOME WEST PROJECT, Timmins, Ontario

Further, the Company is pleased to announce it completed 1446.5 meters of drilling in two holes at its Dome West

Project, located 800 meters west of Newmont’s Dome Mine in Timmins, Ontario in December 2021. All core logging

was completed and samples submitted to the lab for analysis. The Company is still awaiting assay results and they

will be released in full as soon as they are received.

EVENTS:

The Company will also be participating in the GCFF Virtual Conference 2022 – Precious Metals Day . This is a free

online event to be held on Thursday, Feb 10, 2022.  Featuring some of the most promising mineral exploration

companies in the market today, the event is expecting over 400 English and Chinese speaking live attendees. Register

here at https://gcff-2022-feb-10.eventbrite.ca/?aff=PX. Presentation starts at 12:40 pm PST (3:40 pm EST).

Qualified Person

Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meanin g of National Instrument 43 -101. Mr. Filo

approved the technical data disclosed in this release.

About Pelangio

Pelangio acquires and explores world-class gold belt land packages in Ghana, West Africa and Canada. In Ghana, the

Company is exploring its two 100% owned camp -sized properties: the 100 km 2 Manfo property, the site of seven

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 newly optioned Dankran property located adjacent to its

Obuasi property. In Canada, the Company is currently focused in Ontario on its Gowan property, located 16 km from

the Kidd Creek Mine in Timmins, and its Dome West property, situated some 800 meters from the Dome Mine in

Timmins. See www.pelangio.com for further detail on all Pelangio’s properties.

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

Ingrid Hibbard, President and CEO

T: 905-336-3828 / TF: 1-877-746-1632 / 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 “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 strategy of acquiring large land packages in areas of sizeable gol d

mineralization, and the Company’s ability to complete the planned exploration programs. 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, un certainties 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 changes in equity markets, share price volatility, volatility of global and local economic climate, gold price vo latility,

political developments in Ghana, and Canada, increases in costs, exchange rate fluctuatio ns, speculative nature of gold

exploration, including the risk that favourable exploration results may not be obtained, delays due to COVID-19 safety protocols,

and other risks involved in the gold exploration industry. See the Company’s annual and quarter ly 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 refe renced 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 information except as required by law. All forward-looking statements and information herein are qualified by this

cautionary statement.

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Exchange) accepts responsibility for the adequacy or accuracy of this release.