On July 2, 2020, Pelangio annoucned that Pancontinental Resources Corporation (”Pancon”) has agreed to fully exercise the option to earn a 100% interest in the Montcalm and Nova Properties. The Montcalm and Nova properties, were under option to Pancon, are proximal to each other and located approximately 65-70 km northwest of the City of Timmins Ontario. The Montcalm property, located in Montcalm Township, covers an area of approximately 37.8 km2 and the Nova property, located in Nova Township is approximately 8 km2. The Montcalm property surrounds the former Montcalm Mine which produced approximately 3.9 million tonnes of nickel, copper, cobalt ore over its mine life (source: Atkinson, 2011, Ontario Geological Survey). Pancontinental has completed substantial successful target development work on both properties (see Pancontinental press releases dated September 17, 2018 and October 30, 2018). It is anticipated that ongoing exploration will continue on these projects in 2019. As a result of this transaction, Pelangio now owns 300,000 shares of Pancontinental and in the event that Pancontinental exercises the option to earn the remainder of Pelangio's interest, Pelangio will receive $52,500 and 450,000 shares over the next three years.