Pelangio Options Ontario Birch Lake Property to Noka Resources
Pelangio Exploration Inc.
Pelangio Exploration Inc. News Release – March 14, 2017 1
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
NEWS RELEASE
PELANGIO OPTIONS ONTARIO BIRCH LAKE PROPERTY TO NOKA RESOURCES
TORONTO, Ontario (March 14, 2017) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio” or
the “Company”) is pleased t o a n n o u n c e t h a t it h a s e n t e r e d i n t o a n option agreement with N o k a R e s o u r c e s I n c .
(“Noka”) whereby Noka may acquire a 100% interest in Pelangio’s Birch Lake Property, located in Ontario’s Red Lake
Mining District.
Ingrid Hibbard, President and CEO of Pelangio commented, “The renewed interest in Canadian gold prospects has
provided the opportunity to partner with Noka who will resume exploration at Birch Lake.”
Acquisition Terms
Noka has a right to earn a 100% interest in the Birch Lake Project by paying a total of CDN $375,000 and issuing an
aggregate of 4,500,000 common shares over a four year period to Pelangio. Noka must also incur exploration
expenditures of CDN $1,300,000 over a four year period. The Birch Gold Project is subject to a 2% net smelter
returns royalty held by Goldcorp Inc.
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 M a n f o P r o p e r t y , t h e 2 6 4 k m2 O b u a s i P r o p e r t y , l o c a t e d 4 k m o n s t r i k e a n d a d j a c e n t t o
AngloGold Ashanti’s prolific high-grade Obuasi Mine, and the early-stage 159 km2 Akroma Properties, which includes
the Dormaa and Wamfie concessions.
In addition, the Company has several gold exploration projects in Ontario, Canada. These include the properties
known as the Birch Lake Property (currently under option to Noka Resources Inc.), the Poirier Gold Property and the
Lorna Lake Property.
For additional information, please visit our website at www.pelangio.com, follow us on Twitter @PelangioEx or
contact:
Ingrid Hibbard, President & CEO or
Warren Bates, Vice President Exploration
Tel: 905-336-3828 / Toll-free: 1-877-746-1632 / 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 Option Agreement, Noka ability to exercise the option pursuant to the Option Agreement, Noka and the
Company’s exploration plans for t h e Birch Lake Property. 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, but are not limited to: Noka inability to
obtain financing to exercise the o p t i o n , c h a n g e s i n e q u i t y m a r k e t s , s h a r e p r i c e v o l a t i l i t y , v o l a t i l i t y o f g l o b a l a n d l o c a l e c o n o m i c
climate, gold price volatility, increases in costs, 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 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.