Toronto, Ontario--(Newsfile Corp. - June 15, 2026) - Pelangio Exploration Inc. (TSXV: PX) (OTC PINK: PGXPF) ("Pelangio" or the "Company") reported that drill hole SPDD26-008 extended the higher-grade gold shoot at its 100%-owned Pokukrom East deposit 150-meters further north, where it remains open and could add significantly to the resource. The hole cut 26 meters of 2.99 g/t Au (un-cut), including 6 meters of 11.74 g/t Au and 2 meters of 27.95 g/t Au. These results show the higher-grade mineralization continues to the north. Drill hole SPDD26-007, previously reported on June 1, 2026 is interpreted to have undercut the plunge of the higher-grade shoot at Pokukrom East, while SPDD26-008 demonstrates the mineralized zone continues to the north at a flatter plunge.

"We're excited by these results. They extend the higher-grade gold zone 150 metres to the north and suggest the mineralization may be flattening here, giving us important new information about the geometry of the deposit," said Ingrid Hibbard, President and CEO of Pelangio. "Each hole helps us refine our understanding of the system, and with this improved understanding we are well positioned to continue testing for additional extensions of the higher-grade zones."

Highlights

• Drill hole SPDD26-008 intercepted 26 meters of 2.99 g/t Au (un-cut) including 6 meters of 11.74 g/t Au which in turn includes 2 meters of 27.95 g/t Au at Pokukrom East
• Results indicate higher-grade mineralization continues down plunge and extends approximately 150m to the north.
• Results are consistent with the interpreted geometry of the higher-grade shoot and support its continuity down plunge. See Table 1.
• Pokukrom East deposit remains open to the north, south, and at depth
• Drilling program approximately 77% complete, with completion expected in July

The Manfo Gold Project hosts an updated Mineral Resource Estimate conducted by SEMS Technical Services of Ghana and filed on Sedar+ on September 10, 2025 comprising an Indicated Mineral Resource of 441,000 ounces of gold at an average grade of 1.16 g/t Au (11.8 million tonnes), and an Inferred Mineral Resource of 396,000 ounces of gold at an average grade of 0.77 g/t Au (16.0 million tonnes).

The current drilling program is designed to expand mineralization beyond the limits of the existing resource and to further define the continuity of mineralized zones, while ongoing exploration will continue to evaluate additional targets across the project.

Manfo Drilling Program and Results

The ongoing resource extensional diamond drilling program at Manfo is focussed on demonstrating extensions to the Pokukrom East and West deposits. The current program is planned for approximately 2,900 meters in 14 drill holes and is 77% complete, with seven holes drilled and two in progress nearing completion. Assays have been received for seven holes including the latest hole. Six holes were reported on June 01, 2026.

Drill hole SPDD26-008 and SPDD26-007 were drilled to demonstrate the down-plunge continuation of the higher-grade gold shoot in the Pokukrom East deposit. With the results of SPDD26-008, SPDD26-007 is now interpreted to have undercut the plunge of the higher-grade shoot. Hole SPDD26-008 was drilled approximately 90-meters above and 50-meters to the north of SPDD26-007 and 150-meters to the north of the limit of the historical drilling and returned five individual gold zones with up to 26 meters of 2.99 g/t Au (un-cut) including 6 meters of 11.74 g/t Au which in turn included 2 meters of 27.95 g/t Au corresponding to the 'main' higher-grade gold shoot at Pokukrom East. A historical hole drilled by Pelangio 150 meters to the south of SPDD26-008, SPDD-180, returned 55 meters of 1.20 g/t Au including 14 meters of 2.50 g/t Au. Refer to Pelangio's news release dated December 13, 2011. SPDD26-007 is a stronger mineralized hole than SPDD-180.

The true thickness of the mineralization is estimated to be 83% of core lengths. The vertical depth of the mineralization intercepted in SPDD26-008 is from 160 to 260-meters, above the bottom of the $2,600 Au conceptual pit optimized in the July 2025 mineral resource estimation. Refer to Figure 1. These encouraging results may extend the gold resource significantly further north although further drilling will be required to model and quantify the mineralization. Continued step-out drilling to the north could add additional gold mineralization to the resource if successful.

Still in progress are holes SPDD26-009 and SPDD26-010. Both holes are nearly complete, and both have passed through broad zones of alteration, i.e. 90-meters core length in hole SPDD26-009 and 145-meters core length in hole SPDD-010. Both holes will be complete within the next several days and assay results should be available within 10 to 14 days.

Five additional holes remain to be drilled in this program at Pokukrom East which will further test for a northern strike extension of the deposit, an extension to the south as well as down-dip below the shallower, southern end of the deposit. With successful results, future resource drilling programs will continue to probe for extensions plus infill drill to quantify resource additions to the Indicated category.

Methodology, Quality Assurance/Quality Control

Diamond drilling was conducted using an SA13000 diamond drill rig. HQ coring was conducted in the oxide, which was 25 meters deep, followed by NQ2 coring to the bottom of hole. The drill hole was spotted in the field with a hand-held GPS with a locational accuracy of +/- 5 meters. The drill collar position will be surveyed more accurately at a later date. A Champ-Magshot multi-shot survey instrument was used for down-hole survey readings every 12 meters, and a core orientation instrument is employed in the drilling program to enable accurate 3D measurement of geological features and structure.

Samples were obtained nominally at 1-meter intervals by sawing the drill core in half with a diamond saw and submitting half core to the Intertek Minerals Limited laboratory in Tarkwa, Ghana, for low-detection (0.01 ppm) 50g Fire Assay plus AA finish for gold. QA/QC samples, including certified standards, blanks and sample duplicates, were inserted into the 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.

Table 1 summarizes assay results for drill hole SPDD26-008 at the Pokukrom East deposit, including the principal mineralized intervals and higher-grade sub-intervals. The results are consistent with the interpreted geometry of the higher-grade shoot and support its continuity down plunge.

Table 1. Assay Results from Diamond Drilling on the Pokukrom East Deposit, Manfo Project

1. Intersections are calculated with a 0.25 g/t cut-off and a maximum of three metres of internal dilution.
2. Only gold intercepts > 1 Gram X Meter are listed.
3. Gold intercepts are un-cut.
4. True thickness is estimated to be 83% of the core length. 26 meters core length = 21.6 meters true thickness.

Qualified Person
Mr. Kevin Thomson, P.Geo. (Ontario, #0191), Senior Vice-President, Exploration and Director, is a qualified person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Thomson approved the scientific and technical disclosure in this release.

About Pelangio Exploration Inc.:
Pelangio Exploration Inc. is a Canadian mineral exploration company focused on advancing gold projects in Ghana and Canada. The Company's principal asset is the 100% owned Manfo Gold Project in the Sefwi Gold Belt, which hosts a mineral resource and is the focus of ongoing drilling and exploration. In Ghana, Pelangio also holds the Dankran property, where previous work has identified high-grade gold mineralization with potential for follow-up drilling, along with the Obuasi property where early-stage exploration is underway.

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 proposed targeted infill drilling, step-out drilling and exploration to further define and expand the resource base, as well as further drilling at Pokukrom East and the other deposits, potential expansion of the Resource, potential conversion of Inferred to Indicated ounces, planned work programs, advancing technical studies, future development decisions, the potential addition of satellite deposits, 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, inability to obtain necessary approvals or permits in Ghana, 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. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. 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. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

Figure 1. Pokukrom East Vertical Long-section with Drill Status and Results illustrating the interpreted orientation and down-plunge continuity of the higher-grade gold shoot

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301623

Source: Pelangio Exploration Inc.