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Outlook for the Obuasi Property

The alluvial gold evaluation at Obuasi may continue upon ministerial approval of the proposed option agreements, including a bulk-sampling program, which would provide additional information for target generation in the underlying bedrock.

A 5,000 metre AC and a 2,000 metre RC drill program on bedrock is planned as funding permits.

Pelangio now holds a 100% interest in the Obuasi Property (subject to the Government Interest as defined above, and subject to a 2% NSR to the Optionors).

The Obuasi Agreements are available under Pelangio's profile on www.sedar.com.