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    PX   CA7056465031

PELANGIO EXPLORATION INC.

(PX)
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Pelangio Exploration : Fact Sheet - Canada August 2021

07/29/2021 EDT

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

ONTARIO, CANADA

P E L A N G I O

EXPLORATION

PX TSX-V

Dome West, Timmins

(.56 km2)

Contact Information

Pelangio Exploration Inc.

82 Richmond Street East,

Toronto, Ontario Canada M5C 1P1

  1. 905 336 3828 E: info@pelangio.com
  1. www.pelangio.com

Adjacent to the Paymaster Mine and 800m west of Newmont's Dome Mine First drill hole (543m) intersected seven quartz veins confirming prospective stratigraphy extending from the Dome and Paymaster Intersected a gold

mineralized interval of 3.21 g/t Au over 1.25m including a 4.75

g/t Au over 0.75m from hole DW1901

Visible gold observed in another quartz vein at 260.75m to 260.87m

Next Steps: 1,700m

drill program

Gowan, Timmins (4.3 km2)

Polymetallic project, 16 km SE of Kidd Creek Mine Historical exploration demonstrated VMS type mineralization; including a broad semi-massive sulphide intercept grading 0.32% Cu and 0.35 oz/

ton Ag over 36 feet

Q1-2021 PX completed airborne VTEM Plus survey 1.5 x 1 km VTEM anomaly outlined on flank of a large magnetic anomaly and proximal to a semi massive sulphide zone

Next Steps: Ground IP survey then diamond drill program

Qualified Person

Kevin Filo, P.Geo. (Ontario), is a Qualified Person within the meaning of the National Instrument 43-101. Mr. Filo has approved the technical data disclosed in this fact sheet.

  • The reader is cautioned that some of the aforementioned assay data for Grenfell is historical in nature. The corporation has relied on the work on other professionals. The corporation has not conducted drilling or bulk sampling to verify these historical numbers.

    The following reports are referenced with respect to the Sedex and SGX work stated above:
    "Geological Report on Mapping and Diamond Drilling on the Sirola Property, Grenfell Township, Northern Ontario for Sedex Mining", by J. Kevin Filo, P.Geo., 1996 "Assessment Report for the 2013 Diamond Drilling Program on the Grenfell Property for SGX Resources", by J. Kevin Filo, P.Geo., 2013

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

Birch Lake, Red Lake District (24 km2)

100% owned by Pelangio - optioned to Jubilee Minerals Inc. in 2020 - spending $2M in exploration expenditures and earning 15% equity interest

Adjacent to First Mining Gold's Springpole 3.8 Moz deposit Prior exploration of High Grade Island returned results of

34.54 g/t Au over 9.85m, (uncut) including 113.94 g/t Au over 2.95m**

Hosts the High Grade Island Deformation zone, a 70m wide, steeply dipping deformation corridor

Birch Lake West (10 km2)

100% owned Birch Lake West property, an additional 1040 hectares, immediately west and adjacent to the Birch Lake property, for a combined total of 34 km2

Previously, Goldfields drilled two drill holes on the Rodman Island Occurrence within the Birch Lake West extension:

0.14 oz per ton Au over 5 feet and

0.11 oz per ton Au over 10 feet within a crystal tuff*

Pelangio has 11 properties in strategic camps in Ontario - the most active are listed above

P E L A N G I O

EXPLORATION

PX TSX-V

Grenfell, Kirkland Lake (6.7 km2)

Two main drill targets:

  • Intersection of the No.6/No.1 vein at the 76m level historical workings and depth extension of each vein;
  • Shea Vein and CentraI targets above the 76m level;

Intersected a broad zone of mineralization from hole JS2004 2.5 g/t Au over 26m

As well as a narrow vein high-grade intersection with visible gold which returned 314 g/t Au over 1.74m (uncut) from hole JS 2005 and intersected 10.95 g/t Au over 3m including an intercept of 23.4 g/t Au over 1m in hole JS201i

Next step is to develop the geological model to clarify the geometry of the mineralized zones and review and prioritize priority target areas for further drilling.

Hailstone, Saskatchewan (75km2)

Nine mineral claims located approximately 100 km northeast of La Ronge, Saskatchewan, with the right to earn 90% interest - only 3% of project evaluated and drilled to date

Flanked by previous producing gold deposits

Prospecting outlined a mineralized trend over 1600m in the Asbell Bay target area with grab samples returninggrades of up to 15.9 g/t Au & 2.7% Cu

Next step: Further till sampling, followed by IP surveys

Capitalization

TEAM

(millions)

Warrants

Tr a d i n g

D i r e c t o r s

M a n a g e m e n t

P X : T S X - V

32.4

Options

Market Cap. = $9.5M

Ingrid Hibbard, President & CEO

Kevin Thomson,

Paul Rokeby,

Al Gourley

Senior VP, Exploration

Chief Financial Officer

6.6

52 Week L/H = $0.12/0.27

Sam Torkornoo,

Advisory Committee:

David Mosher

Shares Outstanding

Insiders, Family &

JC St-Amour, Chairman

VP Africa

Philip Olson

Kevin Filo, VP

75.0

Associates = 25%

Kevin Thomson

Laurie Clark

Source: TMX website

Corporate

Warren Bates, Senior

Technical Advisor

July 28, 2020

Development

respect to the Birch Lake and Birch Lake West work stated above:

  • Ontario Geological Survey Open File Report 5835
  • M. Ball PhD, P.Geo., Mosquito Consolidated Gold Mines Ltd., December 2002
  • R. Wells, P.Geo., Trade Winds Ventures Inc., NI 43-101, February 2005

Disclaimer

Pelangio Exploration Inc. published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 13:12:02 UTC.


© Publicnow 2021
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Financials
Sales 2020 - - -
Net income 2020 -1,81 M -1,46 M -1,46 M
Net cash 2020 2,43 M 1,97 M 1,97 M
P/E ratio 2020 -3,75x
Yield 2020 -
Capitalization 12,0 M 9,71 M 9,70 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 5
Free-Float 93,9%
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Managers and Directors
Ingrid Jo-Ann Hibbard President, CEO & Non-Independent Director
Paul Rokeby Chief Financial Officer & Treasurer
David Vaughn Mosher Independent Director
Jean-Claude R. St. Amour Independent Director
Kevin Peter Thomson Director & SVP-Exploration
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