TORONTO, Ontario, (January 29, 2009)
-- Pelangio Exploration Inc. (PX:TSX-V) ("Pelangio" or the "Company")
is pleased to announce the appointment of Mr. Chris Pegg as Vice
President Exploration (Africa) and Mr. Brendan Cahill as Counsel and
Corporate Secretary. Mr. Pegg has been consulting for the Company in
Ghana since May 2006 and has been working in Africa since 1992. He
spent 17 years of his 30 year career working for Lac Minerals and was
awarded an NSR royalty in the Williams gold mine for his work leading to
its discovery. Mr. Cahill has been Counsel to the Company since
January 2008 and was previously an Associate in the Mergers &
Acquisitions and Corporate Finance departments of Davies Ward Phillips
and Vineberg LLP in Toronto.
With the appointment of Mr. Pegg to Vice President Exploration (Africa),
Mr. Warren Bates has been promoted to Senior Vice President
Exploration.
Pelangio's Board has also approved the grant of 2,125,000 options to
officers, directors and consultants of the Company, which options are
exercisable into common shares of the Company at a price of $0.10 per
share. Subject to the rules of the TSX Venture Exchange and the
Company's Stock Option Plan the options have a term of five years and
will expire on January 21, 2014.
About Pelangio
Pelangio is a gold exploration company active in the top-ranked mining
jurisdictions in the world, Canada and Ghana. The Company's main focus
is to advance its exploration programs on its premier land position in
Ghana totaling 290 square kilometres, located on strike and adjacent to
AngloGold Ashanti's Obuasi gold mine.
For additional information, please visit our website at www.pelangio.com or contact:
Ingrid Hibbard, President & CEO or
Brendan Cahill, Counsel and Corporate Secretary
Tel: 905-875-3828 / Toll-free: 1-877-746-1632 / Email: info@pelangio.com