Pelangio Exploration Inc. Files NI 43-101 Technical Report for the Mineral Resource Estimate Update on Its Manfo Project and Provides Exploration Update

Executive Summary

• Pelangio announced an updated NI 43‑101 mineral resource for the 100% owned Manfo Gold Project in Ghana, now totaling 441,000 oz Indicated and 396,000 oz Inferred gold – a 126% increase in Indicated ounces and 395% increase in Inferred ounces versus the 2013 pit‑constrained estimate.
• The update adds a fourth deposit (Nkansu) and expands the resource to four deposits over a 4.9 km strike length, with an average grade of 1.16 g/t Au (Indicated) and 0.77 g/t Au (Inferred).
• Pelangio outlined a US$7.6 M staged exploration program (≈45,000 m drilling) to expand and upgrade the resource, with initial drilling slated for November 2025 and priority given to the newly acquired Nkosuo lease.

Key Details

• Updated Mineral Resource (July 31 2025 effective date):
• Indicated: 11.787 M t @ 1.16 g/t Au = 441,000 oz Au
• Inferred: 16.048 M t @ 0.77 g/t Au = 396,000 oz Au
• Deposit Coverage: Four deposits (including newly added Nkansu) spanning a 4.9 km strike length.
• Cut‑off Grades Used: 0.25 g/t Au for oxide; 0.35 g/t Au for transitional and fresh mineralization.
• Gold Price Assumptions: US$2,600/oz for pit optimisation (vs. $1,450/oz in the 2013 estimate).
• Resource Growth vs. 2013 Estimate:
• Indicated ounces ↑ 126% (195 k → 441 k)
• Inferred ounces ↑ 395% (80 k → 396 k)
• Exploration Program Funding: US$7,600,000 total; US$3.3M for 27,000 m of combined diamond & RC drilling (resource expansion & new discovery); follow‑up phase US$4.3M for ~18,000 m infill diamond drilling to upgrade Inferred to Indicated.
• Drilling Schedule: Commence November 2025 on Manfo; Nkosuo drilling deferred until UAV magnetics and orthophoto surveys are completed (97% finished).
• Exploration Targets: High‑resolution UAV magnetic & photogrammetry surveys, soil sampling, geological mapping on both Manfo and newly acquired Nkosuo lease; focus on Bomfaa gold‑in‑soil anomaly and other untested targets.
• Technical Review: Independent Qualified Persons Simon Meadows Smith (FIMMM #49627) and Andrew Netherwood (MAusIMM #100463) of SEMS Technical Services Ltd. prepared the MRE; qualified person Kevin Thomson, P.Geo., approved disclosure.

Notable Quotes

“The substantial increase in both Indicated and Inferred gold ounces underscores the significant upside potential at Manfo, while our staged US$7.6 M exploration program is designed to rapidly expand and upgrade this resource.” – Ingrid Hibbard, President & CEO, Pelangio Exploration Inc.