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Project Summary

The 100 km2 camp-sized Manfo property was acquired as a grassroots project in August 2010. Since then, Pelangio has been successful in the discovery of seven areas of gold mineralization along a 9km belt bounding trend. In 2013, Pelangio completed the maiden resource statement for three of the identified areas, Pokukrom East, Pokukrom West and Nfante West . We plan to expand exploration around the existing three resource areas and the additional four discovery areas, including more than 10 additional target areas recently outlined, as well as target generation over 9 km of the currently unexplored structure.

Within the project margins the faults define a nine kilometre long structural corridor that is a continuation of the fault system hosting the Chirano Mine (Kinross Gold) and the Bibiani Mine (Nobel Mineral Resources) - deposits with multi-million ounces of gold in past production. This first resource statement for Manfo constitutes an important milestone in the long-term exploration strategy for Pelangio's gold properties in Ghana.

Exploration Summary

The project was optioned in 2010, and 271 drill holes totalling 42,154.50 metres have been completed. Seven gold-mineralized areas have been identified to date, primarily targeting a 9 km soil geochemical trend, on the eastern side of the project.

In addition, during 2011, a 100 m-spaced, helicopter-borne airborne geophysical survey over the entire property was completed with radiometrics, magnetics, and time domain EM (approximately 10,000 line- km.). Ground geophysical surveying during the same year included another 450 line-km of gradient IP-Resistivity, and 56 line-km of pole-dipole IP-Resistivity.

Pelangio has also collected 7,925 soil samples and 200 stream sediment samples on the property during 2011 and 2012.

The Maiden Resource was completed on three areas, Pokukrom West and East, and Nfante West in May, 2013 SRK Consulting (Toronto).

Additional drilling since the 2013 Resource Report, has shown promise at Nkansu, Sika North and Nfante East areas. Pelangio completed three commissioning programs for Grasshopper drill rig for rapid, inexpensive drilling from surface to 150 metres, with Air Core (AC), and Reverse Circulation (RC) drilling.

Compilation of geophysical results, geology from drilling and outcrop, coupled with in-situ geophysical core measurements, confirms that the best gold mineralization in the three resource areas is controlled by the intersection of sericite-altered faults with folded magnetic sediments. Further work with geophysical data compilation suggests that a strong belt-bounding structure to the east of the currently explored structure promises to hold additional mineralization.

Outlook for the Manfo Property

A $2,000,000 multi-phase exploration program targeting the existing mineralized structures and the newly identified belt bounding structures has been planned. The objectives of this program are to locate new mineralized zones, follow up on discovery areas, as well as some limited resource development. This program is expected to test approximately 40 target areas utilizing air core, rotary air blast, reverse circulation drilling, and diamond drilling when funds become available.

With three resource areas that remain open, several recent discoveries and ten more target areas along the nine kilometre trend, we are well positioned to expand upon our resource base.