Pelangio Exploration : FACT SHEET GHANA - JANUARY 2023

P E L A N G I O

EXPLORATION

PX TSX-V

EXPLORING CAMP-SIZED PROPERTIES

ON WORLD CLASS GOLD BELTS

GHANA, WEST AFRICA

Obuasi (284 km2)

100% owned (subject to gov't interest), located on the prolific Ashanti Belt Immediately adjacent to AngloGold Ashanti's recently redeveloped 27M oz Obuasi Mine, host geology extends onto Pelangio's property

28,000 m diamond drilling (anomalous gold from every prospect tested), Mag and VTEM Surveys, extensive trenching and sampling completed; targeting by Condor, SRK and Beak Consultants

Drill highlights include: PG11-NGT-121 - 1m of 24.50 g/t gold, PG11-

NGT-122 - 2m of 11.28 g/t gold

Significant Targets:

Numerous untested targets near the western property boundary Targets underlain by the same geological stratigraphy which hosts much of the ore at the Obuasi Mine

North Government Area ("NGA") Targets which lie along and near the main Birimian/ Tarkwaian contact

Dankran (34.65km2)

NE extension of the Obuasi project - added 7 km of strike on the Ashanti Belt

Adjacent to historic Obuom mine (produced 29,000 oz of gold at an average grade of 16 g/t in the 1930's) 2,491m of RC drilling in 36 holes completed on six fences

Ten holes returned significant results (at a cut-off of

1. g/t Au) with grades up to 6.07 g/t Au over 2.0 meters and mineralized widths up 0.47 g/t Au over

1. meters, along a strike length of 2.5 km

One-meterre-assays returned 14.17 g/t Au over 3m, including 39.20 g/t Au over 1m

Drilling is planned to further test the 2.5 km long mineralized trend including several deeper diamond drill holes

Where There

is History

There is

Potential

P o s i t i o n i n g - S u c c e s s - D i s c o v e r y

L o c a t i o n - l o c a t i o n - l o c a t i o n

GHANA, WEST AFRICA

Manfo (96 km2)

Located on the Sefwi Belt 17 km SE of Newmont's Ahafo Plant

100% owned (subject to 10% government interest)

38,000m of core drilling; Maiden resource estimate in 2013* with three open pit resource areas defined:

Indicated: 195,000 oz Au (at 1.5 g/t)**

Inferred: 298,000 oz Au (at 1.0 g/t)***

Considerable data recompilation, reinterpretation and target generation completed

4,200m of resource-extension diamond drilling

• 6,750m of exploration air-core drilling planned as the next steps to grow the resource

Q4-2021 completed two diamond drill holes at Pokukrom West returning 15m @ 3.81 g/t Au incl. 7m @ 5.65 g/t and 12m @ 3.19 g/t Au incl. 3m @ 6.85 g/t Au and discovered a new lode of mineralization down plunge of existing Pokukrom West resource

P E L A N G I O

EXPLORATION

PX TSX-V

Q4/2021 Pokukrom West Diamond Drilling Results

Sefwi Belt hosts 33 Gold		Multiple targets generated in recent data
		analysis to be tested in exploration and
Deposits (20+ Million Oz)
		resource extension drilling programs
C a p i t a l i z a t i o n	Tr a d i n g P X : T S X -	M a n a g e m e n t	D i r e c t o r s
V
Shares Outstanding:	Market Cap. - $4.3 M		Ingrid Hibbard, President	Advisory Committee:	Ingrid Hibbard
109,220,531	52 Week L/H - $0.025/0.15		& CEO	Tony Makuch	David Mosher
Stock Options:		Kevin Thomson,Senior	David Paxton	Al Gourley
Insiders, Family &
6,227,500		VP, Exploration	Philip Olson	JC St-Amour, Chairman
Warrants:	Associates = 20%		Sam Torkornoo, VP Africa	Kevin Thomson
57,285,065	Source: TMX - January		Paul Rokeby, CFO	Laurie Clark
Fully diluted:	18,2023			Warren Bates, Senior
172,733,096					Technical Advisor

Contact Information Pelangio Exploration Inc., 82 Richmond Street East, Toronto, Ontario, Canada M5C 1P1 905 336 3828 [e-mail] pelangio.com

Disclaimer and Qualified Person

• Mineral Resource Evaluation Technical Report, Manfo Gold Project, Ghana, June 21, 2013 by SRK Consulting (Canada) Inc., authored in accordance with Canadian Securities Administrators' National Instrument 43-101.
• Indicated Resources consist of 3.973 million tonnes at an average gold grade of 1.52 g/tonne, calculated at a lower cut-off grade of 0.5 g/tonne for sulphide and transitional material, and 0.4 g/tonne for oxide material.

Indicated resources are entirely within the US$1,450 Conceptual Pit Shell.

• Inferred Resources consist of 9.666 million tonnes at an average gold grade of 0.96 g/tonne, calculated at a lower cut-off grade of 0.5 g/tonne for sulphide transitional material, and 0.4 g/tonne for oxide material. Inferred resources are tabulated both within and outside of the US$1,450 Conceptual Pit Shell, from surface to an elevation corresponding to the base elevation of the US$1,450 Conceptual Pit Shell, at 100 metres elevation.