Ms. Ingrid Hibbard reports

PELANGIO EXPLORATION CLOSES $600,000 PRIVATE PLACEMENT FINANCING

Pelangio Exploration Inc. has closed its previously announced private placement of 15 million units of the company at a price of four cents per unit for gross proceeds of $600,000.

Each unit sold pursuant to the private placement is composed of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at a price of five cents prior to Feb. 15, 2016, subject to acceleration and adjustment in certain cases. In the event that the common shares trade on the TSX Venture Exchange at a volume-weighted average price of 7.5 cents or more for a period of at least 10 consecutive trading days subsequent to Dec. 16, 2014, the company shall be entitled to accelerate the exercise period to a period ending at least 30 days from the date notice of such acceleration is provided to the holders of warrants.

The proceeds of the private placement will be used for continued exploration at the company's Ghana properties, including up to 3,000 metres of air core and reverse circulation drilling, and for general working capital purposes, which will include consulting fees and salaries, including to officers and other employees.

The company will pay a finder's fee of $13,510 to certain introducing parties in respect of a portion of the proceeds of the private placement, subject to compliance with applicable securities legislation and TSX Venture Exchange policies. The private placement is subject to receipt of all necessary regulatory approvals, including the TSX Venture Exchange. The securities issued pursuant to the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws, expiring Dec. 16, 2014. Certain directors and officers of the company are participating in the private placement for a total of 6.5 million units.

We seek Safe Harbor.