PX.V · 2025-01-27 12:00:00

Targets from UAV Magnetics Survey at Obuasi, Ghana TORONTO, Ontario ( January 2 7 th , 202 5 ) – Pelangio Exploration Inc. (PX:TSX - V; OTC PINK:PGXPF) (“Pelangio” or the “Company ”) is pleased to announce that a geochemical pitting program planned to test

Exploration Programs

NEWS RELEASE

Pelangio

Exploration

Com

mences Exploration Follow Up Testing of

Targets from UAV Magnetics Survey at Obuasi, Ghana

TORONTO, Ontario (

January

202

)

–

Pelangio Exploration Inc. (PX:TSX

V; OTC PINK:PGXPF)

(“Pelangio” or the “Company

”)

is pleased to announce

that a geochemical pitting program planned to test

targets resulting from the recently completed UAV magnetics survey has commenced on Pelangio’s Obuasi

property.

Ingrid Hibbard, President and CEO,

commented:

“The UAV airborne magnetics survey

recently completed on Pelangio’s Obuasi property

has

resulted in a

more accurate interpretation of the strike extension of the Obuasi Mine trend onto Pelangio’s adjacent

property. A program of geochemical pitting has commenced to explore 2.5 kilometers of strike of the

interpreted trend over an area which ha

s experienced no previous trenching or drill testing.

are

confident

the program will aid significantly in the understanding of this

priority

target area at Obuasi and

should define specific targets for further evaluation

by trenching and

/or

drill testing.”

Background

The

ongoing work at Obuasi is

in support

of TuNya Mineral Resources Ltd.’s

US$250,000 technical study

which is part of their earn

in agreement on the southern Tarkwaian portion of

Pelangio’s

Obuasi property.

TuNya

recommended and undertook

high

resolution

UAV magnetic survey conducted over one of the

most prospective areas of Pelangio’s property, completed in December of 2024.

The survey has better

defined

high magnetic strata

interpreted to represent the strike extension of the mafic volcanic unit which

along its western flank

most

of the mineralization at the Obuasi mine is situated.

The interpreted strike extension of the Obuasi mine trend

nto Pelangio’s adjacent

ground

has experienced

little historical drill testing with the majority of Pelangio’s

2008

2010 drill testing being situated 200

1,200

meters west of the interpreted

target

structure.

The planned geochemical pitting program will initially

evaluate the northern 2.5 kilometers strike of the target trend and is expected to provide a better

understanding of the geology and

gold distribution over this area for further testing

(

gure 1

This method

also engages local workers for temporary roles, fostering collaboration with the community and further

strengthening our position as a responsible exploration partner.

Pelangio Exploration Inc. News Release

–

January

, 202

82 Richmond Street East, Toronto, ON

M5C 1P1 T: 905

336

3828

Plan

ed Program

The

geochemical pitting program will consist of hand

dug pits

2 meters X 1 meter in area

and 2 or more

meters deep excavated at 100 meter intervals along 200 meter spaced lines.

One

meter channel samples

will be obtained from pit

bottoms and analyzed

for

gold by fire assay.

Given the very steep, hilly nature of

area, hand digging pits will be

quicker and less environmentally impactful than employing a mechanical

excavator.

One hundred pits are initially planned

with approximately 25% of the program designated higher

priority

to be dug first followed by a pause to allow receipt of assays.

Depending upon the results the survey should

continue, possibly being expanded, reduced and/or infilled as warranted.

If demonstrated to

an effective

exploration method, additional pitting

will

be planned to evaluate

the fold feature to the east, where

numerous high

grade rock chip samples were obtained in the past which have only been

very

lightly drill

tested

Following the pitting program, which is expected to take approximately two months

for the entire 100

sample program

, areas of significant anomalism and/or prospective geology may be evaluated further with

a targeted trenching program. Highly prospective targets to emerge from these programs will then be

considered for drill testing.

Pelangio Exploration Inc. News Release

–

January

, 202

82 Richmond Street East, Toronto, ON

M5C 1P1 T: 905

336

3828

Figure 1.

Location of Planned Pitting on Recent UAV Magnetics Survey, Obuasi Property

Qualified Person

Mr. Kevin Thomson, P.Geo. (Ontario, #0191)

, Senior

Vice

President, Exploration and Director

, is a qualified

person within the meaning of National Instrument 43

101 Standards of Disclosure for Mineral Projects. Mr.

Thomson approved the technical data disclosed in this release.

About Pelangio

Pelangio acquires and explores prospective land packages located in world

class gold belts in Ghana, West

Africa and Canada. In Ghana, the Company is focused on its two 100% owned camp

sized properties: the

100 km

Manfo property, the site of eight near

surface gold discoveries, and the 284 km

Obuasi property,

located 4 km on strike and adjacent to AngloGold Ashanti’s prolific high

grade Obuasi Mine, as well as the

Pelangio Exploration Inc. News Release

–

January

, 202

82 Richmond Street East, Toronto, ON

M5C 1P1 T: 905

336

3828

Dankran property located adjacent to its Obuasi property. See www.pelangio.com for further

details

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 / 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 wo

rds 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 ce

rtain

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

minerali

zation, and the Company’s ability to complete the planned exploration programs.

Regarding forward

looking statements

and information contained herein, we have made many assumptions, including about the state of the equity markets.

Such forward

looking stat

ements 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 exp

ressed 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 developmen

ts in Ghana,

and Canad

a, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including the risk that favourable

exploration results may not be obtained

, near

term production may not

viable,

delays due to COVID

or other

safety protocols,

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

statemen

t 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 o

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 informati

on 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 Ven

ture

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

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