Pelangio Reports Appointment of Additional Director, Annual General Meeting Voting Results, and Filing of First Quarter Results FOR 2017
Pelangio Exploration Inc.
Pelangio Exploration Inc. News Release – May 30, 2017 1
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
NEWS RELEASE
PELANGIO REPORTS APPOINTMENT OF ADDITIONAL DIRECTOR,
ANNUAL GENERAL MEETING VOTING RESULTS, AND
FILING OF FIRST QUARTER RESULTS FOR 2017
TORONTO, Ontario (May 3 1, 2017) – Pelangio Exploration Inc. (PX:TSX -V; OTC PINK:PGXPF)
(“Pelangio” or the “Company”) announces the appointment of an additional director, the voting results
from its Annual General Meeting of Shareholders held on May 30, 2017 (the “Meeting”) , and its filing of
the first quarter financial results for 2017.
Appointment of Additional Director
Pelangio is pleased to announce the appointment of Kevin P. Thomson, P.Geo. to the board of directors.
The appointment is effective immediately following the Meeti ng and expands the board to six directors,
five of whom are independent. Kevin is a senior mining professional with 29 years’ experience, including
international technical, corporate and project management experience in West Africa and Canada. His
experience ranges from project generation and grass -roots exploration to resource development, project
assessment and due diligence. Kevin previously resided in Ghana for 12 year s, during which time he
served as Group Exploration Manager at Perseus Mining Limited and Regional Exploration Manager at
Newmont Mining Corp. Kevin holds an Hons. BSc. Geology & Physical Geography from McMaster
University, and is a member of the Associat ion of Professional Geoscientists of Ontario (#0191). Kevin
has been a non-executive director of ASX-listed Amani Gold Limited since 2011.
“We are thrilled that Kevin has joined the Pelangio Board. Kevin has an exceptional track record in
mining exploration, discovery and project advancement as well as extensive knowledge of Ghana”,
commented Pelangio’s President and CEO, Ingrid Hibbard.
AGM Voting Results
Pelangio’s shareholders voted in favour of all items of business at the Meeting held on May 30, 2017. A
total of 104,981,495 (44.57%) of Pelangio’s common shares were represented at the Meeting.
The five nominees listed in the management proxy ci rcular dated April 13, 2017, were re-elected as
directors of Pelangio. Detailed results of the vote for the election of directors are set out below.
NOMINEE Votes For % For Votes
Withheld % Withheld
Ingrid Hibbard 96,060,984 99.86 131,850 0.14
Philip Olson 95,554,484 99.34 638,350 0.66
David Mosher 95,566,484 99.35 626,350 0.65
Carl Nurmi 95,566,484 99.35 626,350 0.65
Ian Shaw 95,554,772 99.34 638,350 0.66
Pelangio Exploration Inc. News Release – May 30, 2017 2
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
Appointment of Officers
Following the Meeting, t he board of directors appointed Sam Torkornoo as Vice- President Africa, and
appointed Warren Bates as Senior Vice President Exploration.
Sam Torkornoo has 22 years of professional experience as a geologist and project manager for a number
of multinational exploration companies . Sam has a BSc. in Geological Engineering from Kwame
Nkrumah University of Science and Technology in Kumasi, Ghana, and an MBA in International
Management of Resources and Environment from Technische Universität Bergakademie Freiberg,
Germany. Sam is a member of the Association of Professional Geoscientists of Ontario, the Australasian
Institute of M ining and Metallurgy , the Ghana Institute of Geoscientists, and the Society of Economic
Geologists. Sam is currently the chair of the Exploration Committee of the Ghana Chamber of Mines.
In addition, the following were re- appointed as officers of the Com pany: Carl J. Nurmi as Non-Executive
Chairman, Ingrid J. Hibbard as President & Chief Executive Officer, Paul Rokeby as Chief Financial
Officer, and Andrew Todd as Corporate Secretary. Biographies for all officers of the Company other than
Sam Torkornoo and Andrew Todd can be found on the Company’s website, www.pelangio.com.
First Quarter Results
Also, Pelangio announces financial and operational results for the three months ended March 31, 2017.
Financial reports and Management’s Discussion and Analysis are available on both the Company’s
website (www.pelangio.com) and SEDAR (www.sedar.com).
Q1 2017 Operational Highlights:
Africa - Dormaa Project - Option Agreement with Roscan Minerals
Pelangio received the first and second payments of $150,000 each on March 6,
2017, and May 4, 2017, pursuant to the option and joint venture agreement with
Roscan Minerals Corporation to joint ly advance the Dormaa Project in Ghana,
West Africa.
Canada - Birch Lake Property - Option Agreement with Noka Resources Inc.
(now “Pacton Gold Inc.”)
Pelangio received $75,000 and 900,000 common shares of Pacton Gold Inc.
(“Pacton”) pursuant to the option agreement with Pacton, which may acquire a
100% interest in the Birch Lake Property in Ontario’s Red Lake District.
Canadian Mining EXPO 2017 – The Big Event
Pelangio will be presenting and exhibiting at “ The Big Event ” held Wednesday May 31 and Thursday
June 1, 2017, in Timmins, Ontario. Pelangio’s President and CEO, Ingrid Hibbard, will be giving a
presentation about the Company at the Investor Forum on Thursday June 1, 2017, at 1:30 pm.
About Pelangio
Pelangio successfully acquires and explores camp- sized land packages in world -class gold belts, while
using innovative corporate restructuring to maximize shareholder value. 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 km 2 Manfo Property, the site of seven recent near -surface gold discoveries, the
264 km2 Obuasi Property, located four kilometres on strike and adjacent to AngloGold Ashanti’s prolific,
high-grade Obuasi Mine, which has produced over 30 million ounces of gold since 1897, and the early -
stage 159 km2 Akroma Property.
Pelangio Exploration Inc. News Release – May 30, 2017 3
82 Richmond Street East, Toronto, ON M5C 1P1 Tel: 905-336-3828 Fax: 905-336-3899
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, Senior 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. 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 f actors which may cause the Company’s
actual results, performance or achievements, or industry results, to be materially different from any future results, perform ance or
achievements expressed or implied by such forward- looking statement or information. S uch risks include changes in equity
markets, share price volatility, volatility of global and local economic climate, gold price volatility, political developments in Ghana,
increases in costs, exchange rate fluctuations, 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 infor mation 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 Vent ure
Exchange) accepts responsibility for the adequacy or accuracy of this release.