Pelangio Exploration : Corporate Presentation October 2021

GOLD EXPLORATION IN CANADA AND GHANA

October 2021

DISCLAIMER

CAUTIONARY NOTE REGARDING MINERAL RESOURCE ESTIMATES

Investors should not assume that any of the indicated or inferred resource disclosed herein will ever be upgraded to a higher category of mineral resource or to mineral reserves and that any or all of the indicated or inferred mineral resource exist or is or will be economically or legally feasible to mine. In addition, investors should not assume that any of the references herein to adjacent properties (based on public information) is necessarily indicative of the mineralization on the Manfo property or that further exploration on the Manfo property will prove to be successful.

The disclosure herein uses mineral resource classification terms that comply with reporting standards in Canada and the disclosure of mineral resource estimates are made in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects that are considered material to the issuer.

The exploration programs in Ghana are overseen by Kevin Thomson, P. Geo, a Qualified Person as defined by the Canadian Securities Administrators' National Instrument 43-101. Mr. Thomson has verified and approved the data disclosed in this presentation.

The exploration programs in Ontario are overseen by Kevin Filo, P. Geo., a Qualified Person as defined by the Canadian Securities Administrators' National Instrument 43-101. Mr. Filo has verified and approved the data disclosed in this presentation.

All resource estimates contained herein are based on the definitions adopted by CIM and recognized under NI 43-101. These standards differ significantly from the mineral reserve disclosure requirements of the U.S. Securities and Exchange Commission set out in Industry Guide 7. Consequently, resource information contained in this press release is not comparable to similar information that would generally be disclosed by U.S. companies in accordance with the rules of the SEC. The SEC's Industry Guide 7 does not recognize mineral resources and US. companies are generally not permitted to disclose mineral resources in documents they file with the SEC. Investors are specifically cautioned not to assume that any part or all of the mineral resources disclosed above will ever be converted into SEC defined mineral reserves. Further, "inferred mineral resources" have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. In accordance with Canadian rules estimates of inferred mineral resources generally cannot form the basis of an economic analysis.

The words "plans", "expects", "is expected", "budget", "projects", "scheduled", "estimates" "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements that certain actions, events, or results "may", "could", "would", "might", or "will" occur are all forward-looking statements. Forward-looking statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable at the date that such statements are made. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date indicated on the title page. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements in this document. The Company does not undertake to update any forward-looking statements in this document except as required by applicable securities laws.

Note: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.

COVID-19

The Company's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of respiratory illness caused by COVID-19. The Company cannot accurately predict the impact COVID-19 will have on its operations and the ability of others to meet their obligations with the Company, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases n the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect the Company's operations and ability to finance its operations.

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A STRATEGY FOR GOLD EXPLORATION SUCCESS

MONETIZING THE ASSET IN A CYCLICAL GOLD MARKET

Success

Explore PX Discovery

Acquisition

• Mineral resources are not mineral reserves and do not have a demonstrated

Success

Discovery

Acquisition

Exploration

In 2007, Pelangio re-envisioned Detour as an open-pit asset spun out to Detour Gold for 50% equity interest

VALUE INCREASE FROM $3.50 @ IPO TO $38.00 IN 2011

Manfo - eight discoveries and developed maiden gold mineral resource (195,000 oz Indicated & 298,000 oz Inferred)*

Acquired privco with technical team and eight Ontario properties including Grenfell, Gowan, and Birch Lake

Obuasi, Manfo, Dankran, Dome W, Gowan, Hailstone

economic viability. All figures have been rounded to reflect the relative accuracy of the estimates. The cut-off grades are based on a gold price of US$1,450 per ounce and metallurgical recovery of 94 percent for oxide, and 86 percent for fresh and transitional material.

Mineral resources are reported in relation to an elevation determined from optimized pit shells. All composites have been capped where appropriate.

Collaboration Birch Lake - First Mining Earn-In up to 80%

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MARKET FACTS & MANAGEMENT

Capitalization (Millions)

Warrants	Options
35	6.6

Shares Outstanding

75

Fully Diluted 116.6 Million

October 1, 2021

Trading	Directors	Management
PX:TSX-V &
Experience and Track Record - Diversified Talent for Success
PGXPF:OTCPINK
	Ingrid Hibbard,	Kevin Thomson,
Market Cap.	President & CEO	Senior VP, Exploration
$8.5 M	JC St-Amour	Sam Torkornoo,
	Chairman	VP Africa
	David Mosher	Kevin Filo,
52 Week L/H	VP, Corporate Development
$0.11/0.23	Kevin Thomson	Paul Rokeby,
	Chief Financial Officer
	Al Gourley	Advisory Committee
	Warren Bates - Snr Tech Adv
Insiders, Family &
	Laurie Clark
Associates = 25%
	Philip Olson
		David Paxton
Source: TMX website
October 1, 2021

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'LOCATION, LOCATION, LOCATION'

STRATEGIC LAND PACKAGES

GHANA, West Africa

Manfo:

Located 17 km from Newmont's 15 M oz Ahafo Mine with a maiden gold mineral resource (195,000 oz Indicated & 298,000 oz Inferred)*

Obuasi + Dankran:

High-grade gold intercepts ADJACENT TO AND ON STRIKE WITH AngloGold- Ashanti's +30 M oz Obuasi mine

*see mineral resource statement disclaimer

ONTARIO, Canada

Dome West Property:

~800 m west of Dome Mine one of the largest gold producers in the Timmins Camp

Gowan:

Located 16 km east of Kidd Creek, VTEM anomaly 1.5km x1km, polymetallic project

Exposure to a diversified portfolio in two world-
renowned gold mining jurisdictions.	5	5

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