Pelangio Exploration Inc. completed a 1,039.5 diamond drill program at the Pokukrom East and West deposits on its Manfo Project located 15 kilometers south-southeast of Newmont's Ahafo Mine and 40 kilometers north of Asante Gold's Bibiani Mine. A diamond drilling program was conducted on the Manfo Projec tbetween March 17 and June 19, 2023 with all assays recently received. Seven holes were drilled for a total of 1,039.5 meters to test for extensions to the known mineralization plus exploration targets around the Pokukrom deposits with four of the holes totaling 701.7 meters at Pokukrom East and three holes totaling 337.8 meters at Pokukrom West.

At Pokukrom West drill holes SPDD23-001 and SPDD23-002 tested for a northern extension of the Pokukrom West mineralization above hole DD21-002 which in 2021 successfully demonstrated a down-plunge continuation of Pokukrom West returning 3.19 g/t Au over 12 meters, including 6.85 g/t Au over 3 meters. The two holes did intersect alteration corresponding to the Pokukrom West zone, however gold assays were weak. Future drilling will consider testing further down-plunge of DD21-002.

Drill hole SPDD23-006 tested for an extension to the high-grade oxide mineralization of Pokukrom West which was open-ended to the south intercepting 1.88 g/t Au over 13 meters, including 4.01 g/t Au over 4 meters, which could extend the resource model incrementally to the south. The oxide mineralization remains open to the south and auger drilling anomalism south of SPDD23-006 indicates additional shallow drilling further to the south is warranted. At Pokukrom East two holes, SPDD23-003 AND SPDD23-004, were drilled to evaluate a strong soil anomaly with coincident auger drill hole anomalism sitting on the northwestern flank of the Pokukrom East deposit between Pokukrom East and West.

The two drill holes intersected a wide zone of alteration similar to that which hosts the mineralization at Pokukrom, but disappointingly the assay results were weak. Holes SPDD23-007 and SPDD-008 were planned to test gaps in the historical drilling at the southern end of the Pokukrom deposit with the potential of adding to the resource model at shallow levels. Hole SPDD23-007 intersected 0.71 g/t Au over 20 meters including 1.32 g/t over 6 meters, followed by a second zone of 1.66 g/t Au over 7 meters including 8.43 g/t Au over 1 meter.

Mineralization remains open down-dip in this area and there is potential to extend the modeled resource deeper here at a gold price higher than the $1,450 used in the pit optimizations in 2013. Drill hole SPDD23-008 drilled a little further to the south and at a shallower level intersected a 20 meter wide zone of moderate alteration and anomalous gold, however there was only one assay returned above the cut-off of 0.4 g/t Au. Diamond drilling was conducted using an SA13000 small footprint diamond drill rig.

HQ coring was conducted in the oxide, which ranged from 15 to 40 meters and averaged 25 meters deep, followed by NQ2 coring to the bottom of hole. The drill holes were spotted in the field with a hand-held GPS with locational accuracy of +/- 5 meters or so. Drill collar positions will be surveyed more accurately at a later date.

A Champ-Magshot multi-shot survey instrument was used for down-hole survey readings every 30 meters. Samples were obtained at 1 meter intervals by sawing the drill core in half with a diamond saw and submitting half core mostly to the Intertek Minerals Limited laboratory in Tarkwa, Ghana for 50g Fire Assay for gold, and one drillhole was analyzed at ALS Ghana Limited's laboratory in Kumasi, Ghana also for 50g Fire Assay. QA/QC samples, including certified standards, blanks and duplicate core samples (1/4 split drill core), were inserted into the drill sample stream at a rate of one in ten samples.

The QA/QC results were within acceptable limits. The laboratory also performed their own internal QA/QC checks, which were also acceptable. The true thicknesses of the mineralized drill intercepts reported here ranged from 75% of the drill core length in hole SPDD23-006 to 97% of core length in hole SPDD23-007.