Pelangio Provides Corporate and Exploration Update
Pelangio Exploration Inc.
Pelangio Exploration Inc. News Release – August 15, 2019 1
82 Richmond Street East,
Toronto, ON M5C 1P1
Tel: 905-336-3828
Fax: 905-336-3899
NEWS RELEASE
PELANGIO PROVIDES CORPORATE AND EXPLORATION UPDATE
TORONTO, Ontario (August 15, 2019) – Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) (“Pelangio” or
the “Company”) is pleased to provide a summary of recent corporate and exploration activities.
HIGHLIGHTS
Financing:
• Completed a flow through and hard dollar financing totaling $290,00
Dalton Property:
• Completed mobile metal ion (MMI) soil geochemical survey over the more prospective
portions of the property
• Finalizing target development to prepare for a fall diamond drilling program anticipated to
commence in mid to late September of 2019
Grenfell Property:
• Completed a re-evaluation of the Grenfell property in order to plan for a 2020 winter diamond
drill program
Dome West Property:
• A single 543 meter drill hole was completed on the Dome West property in April 2019
• This hole intersected 3.21 g/t gold over 1.25 meters including a higher grade intercept of 4.754
g/t gold over 0.75 meters
• Plans to initiate a substantial deep drilling program on the Dome West property in April 2020
Hailstone Property:
• Completed a rock sampling program - waiting for analysis and results
• Continue target development to develop drill ready targets
Financing
Pelangio completed a non-brokered private placement on August 12, 2019 which raised a total of $290,000 for the
issuance of 1,000,000 common shares issued on a “flow-through” basis (the “FT Shares”) and 1,000,000 common
shares (“HD Shares”) of the Company at a price of $0.15 per FT Share and a price of $0.14 per HD Share.
Dalton Property Update
The Dalton property comprised of 23 patented mining claims is located approximately 1.5 kilometers (“km”)
southwest of the historic Hollinger Gold Mine which has had historical production of over 19.3 million ounces
of gold; the Hollinger Gold Mine is currently being operated by Newmont Goldcorp as a surface open pit
operation (see Figure 1). Pelangio recently completed a Mobile Metal Ion (“MMI”) soil geochemical survey over
the more prospective portions of the Dalton property; just over 200 MMI soil samples were recently submitted
for multi -element analysis. A total of 43 rock samples from across the entire property have also been submitted
for analysis. During the course of prospecting, a number of strong east-west trending shear zones were
observed along the western flank of the property. Results from the MMI survey, the recently completed
airborne magnetic survey, along with results from ongoing surface prospecting efforts will be assimilated in
late August or early September to evaluate potential new drill targets across the property.
At this time, the priority target area on the Dalton property is the most southerly portion of the property
referred to as the South Target Area, where there are numerous old surface workings located on a few outcrops
in an area covered with extensive sand overburden. Significant points of interest pertaining to the South Target
(“ST”) Area are as follows:
Pelangio Exploration Inc. News Release – August 15, 2019 2
• A previously completed limited IP survey over the ST Area outlined three untested targets. These
targets are all associated with a strong magnetic response.
• Kevin Filo, P.Geo, Pelangio’s vice-president Corporate Development, recently completed a field
examination of one of the IP targets (“Target IP1”) with limited rock exposure.. A strong 50 meter
(“m”) wide east-west striking shear zone, well mineralized with pyrite and hosting some quartz veining,
was observed at Target IP1. Twenty five rock samples were submitted for analysis from the shear and
general surrounding area including samples from old pits and trenches. Results from the rock samples
are currently pending and anticipated towards the end of August.
• Pelangio will be initiating a new IP survey with a north -south orientation to better evaluate the
mineralization related to mineralized east west shear structures thought to be the priority target for
gold mineralization. Results from the IP data, airborne magnetic survey, MMI soil sample results and
rock sample analysis from the ST Area will be compiled to prioritize drill targets.
• A first phase drill program is anticipated to commence in the latter part of September to drill test
targets within the ST Area.
Figure 1: Location of Dalton and Dome West Properties
Grenfell Property
The Grenfell Property is a historic gold prospect located approximately 10 km northwest of Kirkland Lake
Ontario. The Grenfell property was acquired through Pelangio's recent acquisition of 5SD Capital. The property
hosts a number of significant gold bearing veins, mineralized zones and occurrences demonstrating potential
for both narrow vein deposits and near surface bulk tonnage deposits. A thorough review of this property is
currently under way; the objective of this review is to outline drill targets for a program to commence in early
2020 when winter conditions allow for better access to the project. Permitting for future drilling is well under
way and a more thorough update on this project will be provided in the very near future.
Pelangio Exploration Inc. News Release – August 15, 2019 3
Dome West Property
Pelangio's Dome West property is located 800 meters west of Newmont Goldcorp's Dome super pit. Pelangio
completed a limited drill program to test prospective geology extending from the adjoining Dome and
Paymaster Mines. A single 543 meter drill hole was completed on the Dome West property in April of 2019;
this hole intersected 3.21 g/t gold over 1.25 meters including a higher grade intercept of 4.754 g/t gold over
0.75 meters (see Pelangio press release June 13, 2019). Substantial permitting is required to access the Dome
West property due to its proximity to Newmont Goldcorp's Dome Mine surface infrastructure and proximity
to an Ontario Hydro transformer station and power line installations crosscutting the property. At this time
discussions pertaining to access have been initiated with both Newmont Goldcorp and Ontario Hydro; final
access permits are anticipated by December of 2019. A drilling permit submission has also been completed
with the Ontario government; this permit is also anticipated by years end. Pelangio anticipates the initiation of
a substantial deep drilling program on the Dome West property in April of 2020.
Hailstone Property
Pelangio entered into a binding Letter of Intent to acquire a 90% interest in the Hailstone Property, which is
comprised of seven mineral claims and is located approximately 100 km north east of La Ronge, Saskatchewan.
The property is an early stage gold prospect, hosting numerous historic gold occurrences which has had very
limited exploration carried out despite its proximity to a number of former high grade gold producers (see
Pelangio press release July 15, 2019). Pelangio field crews have recently completed a geological evaluation and
sampling program on a number of the documented occurrences. Numerous samples have been submitted for
analysis and results from this program are anticipated within the next few weeks. Pelangio intends to continue
target development on this project over the next year with the objective of developing drill ready targets.
Qualified Person
Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr.
Filo has verified and approved the data disclosed in this release.
About Pelangio
Pelangio acquires and explores large land packages in world-class gold belts in Canada and Ghana, West Africa.
In Canada, the company is focusing on the Dome West property located 800 metres from the Dome Mine in
Timmins, the 25 km2 Birch Lake Property located in the Red Lake Mining District and the Dalton Property
located 1.5 km from the Hollinger mine in Timmins. In Ghana, the Company is focusing on two 100%-owned
camp-sized properties: the 100 km2 Manfo Property, the site of seven recent 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. Ghana is an English-speaking, common law jurisdiction that is consistently ranked amongst
the most favourable mining jurisdictions in Africa.
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
Pelangio Exploration Inc. News Release – August 15, 2019 4
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 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.