Drill Results Routine −

Pelangio Exploration Reports Interim Drill Results from the Manfo Project, Ghana; Drilling to Transition to Dankran with Further Drilling Planned at Manfo

Pelangio Exploration Inc. - Advancing Ghana Gold Projects

By The Northwire Desk — AI Analysis Jun 01, 2026 · 20:30 PX · 0.17 Pelangio Exploration Inc.

Executive Summary

Pelangio Exploration reports interim assay results from its ongoing 2,900-metre diamond drilling program at the Manfo Project's Pokukrom East and West deposits.
The program is approximately 72% complete, with completion expected in July.
Pokukrom West results show weak mineralization (e.g., 12m @ 0.94 g/t Au), prompting a strategic redirect to higher-priority targets.
Pokukrom East results returned lower than expected grades (e.g., 15.87m @ 0.25 g/t Au, 9m @ 0.76 g/t Au), with sample pulps/rejects submitted for independent check assaying.
The company plans to transition drilling to the Dankran property upon completion, targeting a 700-800m program to follow up on maiden RC results (2m @ 6.07 g/t Au, 3m @ 14.17 g/t Au).
Controlled Source Electromagnetic (CSEM) surveys will be conducted at Obuasi and Manfo to target sulphide mineralization.
Further Manfo RC drilling and deep down-plunge holes are postponed to the November-December dry season.

Material Impact

The interim drill results are below management's initial expectations, with lower-than-anticipated grades and the initiation of independent check assaying.
The strategic pivot to Dankran and the postponement of Manfo RC drilling indicate a recalibration of near-term exploration priorities rather than a major discovery or setback.
Given the early stage of the drilling program (72% complete) and the routine nature of interim updates in exploration, the market impact is expected to be muted.
The news aligns with the previously announced $7.6M staged exploration program but introduces minor execution delays and grade disappointment, warranting a Routine - Negative classification.

PX · Price

Company Overview

Pelangio Exploration Inc. is a junior mining company focused on advancing gold exploration projects in Ghana and Canada.
Flagship Project: Manfo Gold Project (100% owned, 100 km² in Ghana).
Manfo hosts an NI 43-101 compliant resource of 441,000 oz Indicated (1.16 g/t Au) and 396,000 oz Inferred (0.77 g/t Au), updated in August 2025.
The company is executing a staged $7.6M exploration program to expand and upgrade the resource, test new targets (Bomfa, Nfante East, Dankran), and conduct geophysical surveys.
Other assets include the Obuasi property (adjacent to AngloGold Ashanti's mine), Dankran, and Canadian royalty holdings (Hailstone, Kenogaming).

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