TORONTO - Pelangio Exploration Inc. (PX: TSX-V; OTC PINK: PGXPF) ('Pelangio' or the 'Company') is pleased to announce it has successfully completed a first phase drill program on its highly prospective Grenfell Property.

The property is comprised of 38 mining cells and 8 leased claims covering an area of approximately 6.7 square kilometers ('km2 ')and is located 10 km northwest of Kirkland Lake Gold's Macassa mine. Ingrid Hibbard, President and CEO of Pelangio, commented, 'In light of the rising gold price, we are very pleased to have completed our first phase of drilling and we are anxiously looking forward to the results in the very near future. Considerable historical exploration expenditures have been made on this property over many years by Kirkland Consolidated Gold Mines, John Sirola, Sedex Resources, and SGX Resources. These efforts demonstrate that this well-located project has excellent potential for hosting both narrow vein high-grade and bulk tonnage gold deposits.'

Grenfell Property Historic Data Summary Gold mineralization was first discovered on the property in the early 1920's. From the early 1930's to about 1941, a series of major exploration campaigns were conducted; this work included 265 feet of shaft sinking, over 2000 feet of underground development on two levels, and a bulk sampling program to evaluate two of the vein systems. Exploration efforts ceased on the property during World War II. In 1985, a geological report Pelangio Exploration Inc. News Release - February 6, 2020 2 was completed on the property by John Londry, P.Eng. (J. Londry, P.Eng., 'Report on the John Sirola Property, Grenfell Township, 1985'), which documented the following points of interest on the various veins: The property hosts five distinct gold bearing zones. These zones in order of importance are the No.1 Vein, Sirola Vein, No. 6 Vein, Shea Vein and Shaft Vein.

Significant work was conducted on the No.1 Vein and Sirola Vein. The Sirola Vein is interpreted to be a possible splay vein from the No.1 Vein. Two separate bulk samples from the Sirola Vein (surface pit) and No.1 Vein (60-foot level) returned 21.7 tons at 0.456 oz/ton gold and 177 tons at 0.70 oz/ton gold respectively. The No.1 Vein was channel sampled along the drift on the 250-foot level which assayed 0.2 oz/ton gold across a 3-foot width for 180 feet of strike. The Londry report also stated that this drift should have continued in an easterly direction on the 250-foot level as values and vein structure suggested the vein continued. Londry'sreport states a third gold bearing zone, the No.6 Vein has a northwesterly trending strike orientation or a transverse strike relative to the No.1 Vein (southwest strike). The No.6 vein was drill tested with only three drill holes, these holes which returned 0.13 oz/ton gold over 10 feet, 2.22 oz/ton gold over 3 feet. and 0.25 oz/ton gold over 5 feet. The Shea Vein is also reported to be a northwesterly striking structure and is located approximately 700 feet southwest ('SW') of the shaft collar. The 250-level drift was extended westward for 700 feet to evaluate the Shea Vein mineralization. Very limited data exists on this work, but Londry's report states a single historical drill hole on the Shea Vein returned 0.41 oz/ton gold over 3 feet. The Shaft Vein was intersected during the course of shaft sinking; the vein entered the shaft at the 90-foot level and exited the shaft at the 150-level. When diluted to a width of one foot, the Shaft Vein returned 0.24 oz/ton gold over the 60-foot interval it remained in the shaft.

About Pelangio

Pelangio acquires and explores large land packages in world-class gold belts in Canada and Ghana, West Africa. In Canada, the company is focusing on the Dome West property located 800 metres from the Dome Mine in Timmins, the 25 km2 Birch Lake Property located in the Red Lake Mining District and the Dalton Property located 1.5 km from the Hollinger Mine in Timmins. In Ghana, the Company is focusing on two 100% owned camp-sized properties: the 100 km2 Manfo Property, the site of seven recent near-surface gold discoveries, and the 284 km2 Obuasi Property, located 4 km on strike and adjacent to AngloGold Ashanti's prolific highgrade Obuasi Mine. Ghana is an English speaking, common law jurisdiction that is consistently ranked amongst the most favourable mining jurisdictions in Africa.

Contact:

Tel: 905-336-3828

Email: info@pelangio.com

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 ability to complete the planned work programs, the Company's strategy of acquiring large land packages in areas of sizeable gold mineralization, the Company's plans to follow-up on previous work, and the Company's exploration plans. 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, and other risks involved in the gold exploration industry.

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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