Mr. Warren Bates reports

PELANGIO HITS HIGH GRADE-11.94 G/T GOLD OVER 10 METRES-AT POKUKROM EAST ON MANFO PROPERTY

Pelangio Exploration Inc. has released results from seven additional diamond drill holes totalling 1,574 metres on the Manfo property in Ghana.

Highlights -- Pokukrom East gold zone

• 1.19 grams per tonne (g/t) gold over 113 metres (or 1.15 g/t gold, cut to 30 g/t) in SPDD-184 from 131 metres downhole, including 9.05 g/t gold over seven metres (or 8.36 g/t gold, cut to 30 g/t);
• 2.6 g/t gold over 64 metres (or 2.36 g/t gold, cut to 30 g/t) in SPDD-188 from 96 metres downhole, including 11.94 g/t gold over 10 metres (or 10.46 g/t gold cut to 30 g/t);
• 16.72 g/t gold over four metres (or 13.5 g/t gold, cut to 30 g/t) in SPDD-192 from 49 metres downhole;
• Higher-grade, shallow, north-plunging core of Pokukrom East zone now recognized from Section 49350 to Section 49900 with an open plunge of 600 metres from near surface in SPDD-088 (7.01 g/t gold over 19 metres) to 210 metres depth in SPDD-184.

"Drill holes SPDD-184 and SPDD-188 are our best holes on the Manfo property to date," stated Warren Bates, senior vice-president, exploration. "These holes represent the north-plunging core of higher-grade mineralization at Pokukrom East, now demonstrating an open-plunge length of 600 metres."

Geological setting

The accompanying table summarizes significant assay results reported herein.

                                        Core
                  From        To      length         Au    Au (cut)
DHID                (m)       (m)         (m)(1)   (g/t)      (g/t)(2)

SPDD-184            97       116          19        0.75
                   131       244         113        1.19      1.15
Including          215       222           7        9.05      8.36
SPDD-188            96       160          64        2.60      2.36
Including          136       146          10       11.94     10.46
SPDD-190            48        72          24        0.86
SPDD-192            49        53           4       16.72     13.50
                    59        82          23        1.41
Including           70        81          11        2.52

(1) Intervals are core length. Unless otherwise indicated, a cut-off 
    grade of 0.2 g/t gold was used in calculating intervals, with 
    allowance for up to five metres of internal dilution.   
(2) High-grade intervals were cut to 30 g/t, as applicable.  

The Pokukrom East geochemical anomaly is approximately 1,200 metres in length. To date, Pelangio has confirmed gold mineralization at Pokukrom East along 850 metres open at depth. Gold mineralization is generally associated with a sericite-pyrite-altered metagranitoid-hosted shear, with higher-grade zones associated with quartz-pyrite veining. Lower-grade mineralization occurs in hematite-altered metagranitoid, which is a peripheral alteration to the sericite-hosted gold mineralization. The results announced herein from Pokukrom East are step-back or infill holes on or between previously drilled sections.

SPDD-181, -182 and -184 were drilled on Section 49800, which had not previously been drilled. SPDD-184 intersected the main Pokukrom East zone at 140 metres depth, and included the longest mineralized intersection yet encountered at Manfo -- 1.19 g/t gold over 113 metres. The intersection also included 9.05 g/t gold over seven metres, which correlates well with a moderate- to higher-grade zone encountered within the main Pokukrom East bulk-tonnage zone, as shown in the accompanying table.

DHID                  Core length          Au
                               (m)       (g/t)

SPDD-088                       19        7.01
SPDD-192                        4       16.72
SPDD-106                       13        3.47
SPDD-107                       11        3.53
SPDD-085                       13        3.37
SPDD-152                       13        3.26
SPDD-188                       10       11.94
SPDD-110                       10        3.05
SPDD-157                        7        2.58
SPDD-179                       14        3.12
SPDD-186                        9        3.74
SPDD-184                        7        9.05
SPDD-127                       13        2.25
SPDD-178                       11        2.51
SPDD-180                       14        2.50

The zone plunges to the north at approximately 40 degrees and has an open-plunge length of approximately 600 metres. Significantly, SPDD-179, -186, -184, -127 and -180 form the core of the down-plunge extent of the higher-grade mineralization across approximately 200 metres of strike at approximately 200-plus metres depth, which remains open and undrilled to date. The company intends to continue testing the down-plunge extent of this higher-grade zone to at least 300 metres depth.

SPDD-181 (0.31 g/t gold over 16 metres) and -182 (0.49 g/t gold over 29 metres) appear to have intersected the upper portion of the Pokukrom East bulk-tonnage zone.

SPDD-188 and -195 were drilled on Section 49600, which had not been previously drilled. SPDD-188 intersected 2.6 g/t gold over 64 metres, including the high-grade intersection noted above -- 11.94 g/t gold over 10 metres. SPDD-195 intersected a shallow portion of the Pokukrom East bulk-tonnage zone, intersecting 0.49 g/t gold over 49 metres, along with two anomalous zones within 28 metres from 82 metres.

SPDD-190 was drilled on Section 49500 as a step-back from SPDD-107 and -161. The hole intersected multiple zones of gold mineralization, including 0.86 g/t gold over 24 metres, in the hangingwall of the main zone. Lower-grade mineralization was encountered in two intersections deeper in the hole (0.38 g/t gold over 38 metres and 0.66 g/t gold over 18 metres) and probably represents a portion of the main zone on the section, or potentially the upper periphery of the zone intersected in SPDD-166 (2.24 g/t gold over 19 metres).

SPDD-192 was drilled on Section 49450 to follow up on the high-grade mineralization encountered on Section 49350 in SPDD-088 (7.01 g/t gold over 19 metres, including 24.68 g/t gold over five metres). The hole successfully intersected the high-grade zone, returning 16.72 g/t gold over four metres from 49 metres as well as an adjacent zone from 59 metres of 1.41 g/t gold over 23 metres, including 2.52 g/t gold over 11 metres.

Cross-sections illustrating the Pokukrom East drill holes and intersections discussed herein are available at the company's website.

Drilling progress and exploration outlook

Including the seven holes totalling 1,574 metres reported herein, Pelangio has completed 124 drill holes totalling 25,150 metres in its phase 2 program on the Manfo property, of which 94 drill holes have been reported. Further assay results will be released in due course.

Pelangio's exploration focus on the Manfo property is to identify near-surface, drill-ready targets through geochemical sampling and to test and extend such targets with drilling and geophysical surveying. The company's aim during 2012 is to prepare an initial resource estimate on the Manfo property while demonstrating the property's potential to host numerous other gold-bearing zones with resource potential.

Quality assurance/quality control and qualified person

The drill holes reported in this press release were drilled using HQ-sized (63.5 millimetres) and NQ-sized (47.6 millimetres) diamond drill bits. Company security is provided at the drill site. Contractors working for Pelangio conducted all logging and sampling. The core was logged, marked up for sampling using standard lengths of one metre, then divided into equal halves using a diamond saw. One-half of the core was left in the original core box and stored in a secure location at the Pelangio compound in Tepa, Ghana. The other half was sampled, placed into sealed bags and securely stored at the site until it was shipped to the ALS Chemex laboratory in Kumasi, Ghana. The core was dried and crushed by ALS Chemex, and a 150-gram pulp was prepared from the coarse crushed material. ALS Chemex conducted routine gold analysis using a 50-gram charge and fire assaying with atomic absorption finish. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream at the rate of one per every 20 samples. In addition, ALS Chemex inserted one preparation blank and a certified reference sample in for every 20 samples, and ran one duplicate analysis every 20 samples.

The exploration program at the Manfo property is overseen by Warren Bates, PGeo (Ontario), a qualified person within the meaning of National Instrument 43-101. Mr. Bates has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information.

           MANFO GOLD PROJECT -- 
    DRILL RESULTS (POKUKROM EAST ZONE)                     

                                  Core       
              From      To      length       Au
DHID            (m)     (m)         (m)(1) (g/t)

SPDD-181        57      73          16     0.31
SPDD-182        32      61          29     0.49
SPDD-184        97     116          19     0.75
               131     244         113     1.19
                                   113     1.15
Including      215     222           7     9.05
                                     7     8.36
SPDD-188        29      50          21     0.26
                69      90          21     0.53
                96     160          64     2.60
                                    64     2.36
Including      136     146          10    11.94
                                    10    10.46
SPDD-190        48      72          24     0.86
               174     211          37     0.38
               222     240          18     0.66
SPDD-192        49      53           4    16.72
                                     4    13.50
                59      82          23     1.41
Including       70      81          11     2.52
SPDD-195        25      74          49     0.49


(1) Intervals are core length. At Pokukrom East, 
    true width of holes drilled at minus 45 
    degrees and minus 50 degrees is estimated to 
    be approximately core length, while true 
    width of holes drilled at minus 65 degrees 
    and minus 70 degrees is estimated to be 
    approximately 90 per cent of core length.  

We seek Safe Harbor.