Pelangio Exploration Inc. Amends Stock Option Plan
Pelangio Exploration Inc. News Release – OCTOBER 28, 2020 1
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
NEWS RELEASE
PELANGIO EXPLORATION INC. AMENDS STOCK OPTION PLAN
TORONTO, Ontario (October 28, 2020) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio”
or the “Company”) announces that it has amended its fixed stock option plan ("the Plan") whereby it has
increased the number of shares reserved for issuance under the Plan from 2,700,000 shares to 5,300,000
shares.
The Company also announces the grant of a total of 3,275,000 stock options to certain directors, officers,
employees and consultants of the Company pursuant to the Plan. The stock options are exercisable for a period
of 5 years from the date of grant at a price of $0.17 per Share.
About Pelangio
Pelangio acquires and explores world-class gold belt land packages in Canada and Ghana, West Africa. Its key
properties in Ontario, Canada, are the Grenfell property, located 10 km from Kirkland Lake, and the Dome West
property, situated some 800 meters from the Dome Mine in Timmins. In Ghana, the Company is exploring its
two 100% owned camp-sized properties: the 100 km2 Manfo Property, the site of seven 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. 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
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 Company’s ability to complete the planned work programs, the Company’s strategy
of acquiring large land packages in areas of sizeable gold mineralization, the Company’s plans to follow-up on
previous work, and 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 changes in equity markets, share price
volatility, volatility of global and local economic climate, gold price volatility, political developments in Ghana,
and Canada, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including
Pelangio Exploration Inc. News Release – OCTOBER 28, 2020 2
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
the risk that favourable exploration results may not be obtained, 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.