Pelangio Exploration Drilling Extends Pokukrom West Mineralization At Manfo, Ghana

2021-11-16 05:35:57

Methodology, Quality Assurance/Quality Control

Diamond drilling was conducted using a Hydracore 2000 man-portable drill rig minimizing environmental impact. HQ diameter coring was conducted in the oxide, which averages approximately 25 meters deep, followed by NQ2 coring to the bottom of hole. A REFLEX EZ-TRAC multi-shot survey instrument was used for down-hole surveys every 30 meters, and a REFLEX ACT III digital core orientation system was used for core orientation.

Sampling was conducted at 1 meter intervals by sawing the drill core in half with a diamond saw and submitting half core to the Intertek Minerals Limited laboratory in Tarkwa, Ghana for 50g Fire Assay for gold. QA/QC samples, including certified standards, blanks and duplicate samples (1/4 split drill core), were inserted into the drill sample stream at a rate of one in eight samples. The QA/QC results for the assays received to date were within acceptable limits. The laboratory also performed their own internal QA/QC checks, which were also acceptable.

The true thicknesses of the two mineralized drill intercepts reported here are approximately 70% of the drill core length for hole DD21-001 and 65% of core length for hole DD21-002, which were utilized in the creation of an updated vertical longitudinal drill section (Figure 2) of previous and current drill intersections into the Pokukrom West mineralization.

Figure 1: Plan Map of Manfo Resource Drilling Showing Recent Drilling at the Pokukrom West DepositJunior Mining Network

Figure 2: Pokukrom West Deposit Vertical Longitudinal Section with Recent DrillingJunior Mining Network

Qualified Person

Mr. Kevin Thomson, P.Geo. (Ontario, #0191), 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 world-class land packages on strategic gold belts in Ghana, West Africa and Canada. 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 four km on strike and adjacent to AngloGold Ashanti’s prolific high-grade Obuasi Mine, as well as its Dankran property located adjacent to its Obuasi property. In Canada, the Company is currently focused in Ontario on its Dome West gold property, situated some 800 meters from the Dome Mine in Timmins, as well as its Gowan base metals property located 16 kilometers east of the Kidd Creek Mine. See www.pelangio.com for further detail.

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: This email address is being protected from spambots. You need JavaScript enabled to view it.

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 strategy of acquiring large land packages in areas of sizeable gold mineralization, and the Company’s ability to complete the planned exploration programs. 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, delays due to COVID-19 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 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.

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