Ms. Ingrid Hibbard reports

PELANGIO ANNOUNCES COMMENCEMENT OF A BULK SAMPLING PROGRAM, ALLUVIAL OPTION AGREEMENTS AT OBUASI AND RESULTS OF A DRILLING PROGRAM AT MANFO

Pelangio Exploration Inc. and Minatura Alluvials Co. LLC have entered into two option agreements under which it is proposed that Minatura may mine alluvial gold at Pelangio's Obuasi property, with Pelangio retaining all mining rights to any bedrock mineralization.

Obuasi alluvial gold agreements:

• Minatura has completed over 400 pits testing the alluvial gold potential on the concessions.
• Pelangio has applied for and obtained permits for bulk sampling on the concessions.
• Minatura has moved a processing plant to site and is set to commence bulk sampling.

"The bulk sampling program that Minatura is commencing under the terms of its option agreements with Pelangio will serve as the basis for a feasibility study regarding the alluvial potential on two of the concessions comprising the Obuasi property, as well as providing us with additional information to enhance hard rock exploration at our Obuasi property," stated Ingrid Hibbard, president and chief executive officer. "It is exciting to be partnering with Minatura, an experienced alluvial operator, to move expeditiously towards development of and potential revenue from alluvial operations."

Obuasi alluvial option agreements

Minatura has the right to acquire a 50-per-cent interest in the alluvial gold mineralization on each of two concessions (Kyereboso 2 and Kyereboso 3) within Pelangio's Obuasi property by delivering the following documents for each property:

1. A feasibility study prepared by an independent third party and completed in accordance with the Canadian Securities Administrators' National Instrument 43-101;
2. Minatura's recommendation that a decision be made for construction and development of a mine producing alluvial gold from the property, consistent with the feasibility study;
3. A schedule for development and construction of the mine;
4. A comprehensive budget for development and construction of the mine.

The deadline for satisfying these exercise conditions is the later of 60 days from:

1. The completion of the bulk sampling;
2. Ministerial approval of the agreement.

If Pelangio agrees with Minatura's recommendation that a production decision be made, a management committee will be formed and new corporations incorporated to hold the alluvial gold rights, the shares of which will be held 50:50 by Minatura and Pelangio. Minatura shall pay all permitting and approval costs until receipt of the last material approval required prerequisite to commercial production. If Pelangio does not agree with Minatura's recommendation that a production decision be made, Minatura shall acquire a 100-per-cent interest and Pelangio shall retain a sliding-scale net-smelter-return royalty.

The agreement is subject to regulatory and ministerial approvals in Ghana and Canada.

Manfo drilling program:

• 1.00 gram per tonne gold over 42.0 metres from 95.5 metres in hole SGRC-332;
• 0.82 g/t gold over 27.0 metres from 74.5 metres in SGRC-333.

A drill program completed at the Manfo project in Ghana during October and November continued to expand the Nkansu mineralization using the economic dual-purpose Grasshopper drill rig. Nkansu mineralization encountered confirmed continuity to greater depths and better established the plunge of the Nkansu zone.

Sixteen shallow air-core holes (620.8 metres) and three (359.5 metres) reverse-circulation holes were completed for a total of 980.3 metres. Two target areas, Nkansu and Nfante East, were tested with three RC drill holes. SGRC-332 and SGRC-333 intersected significant mineralization at the Nkansu prospect. A return to hole SGRC-346 at the Nfante East prospect is planned, as drilling terminated before the end of the mineralization was identified.

AC holes were drilled in fences at an azimuth of 117 degrees in a head-to-toe arrangement, with a nominal spacing of 25 metres, at an inclination of 45 degrees, to an average hole length of 38.9 metres. Intended target hole lengths were 40 metres. Three fences were completed, two north and south of Nfante East and one southeast of Subriso. Anomalous gold was intersected at the two fences north of Nfante East.

The track-mounted Grasshopper RC drill rig has proved to be a highly mobile rig with a small environmental footprint for shallow (zero m to 50 m) sampling with AC in saprolite and to depths of 155 m with RC in saprolite and unweathered rock. The completion rate for RC has improved from 40 per cent in the initial 2013 program to 100 per cent in the last program. The rig is an excellent economical choice for first-pass drilling of exploration targets. The table summarizes the significant results.

                                                    Gold
                       Depth From    To Interval   grade
Prospect       BH ID     (m)  (m)   (m)      (m)   (g/t)

Nkansu      SGRC-332   158.5 95.5 137.5     42.0    1.00
Nkansu      SGRC-333   122.0 74.5 101.5     27.0    0.82
Nfante East    SFRC-    79.0 73.0  79.0      6.0    0.84
             346 (i)

(i) Shutdown in values.

Interval widths are measured widths from drilling. For the Nkansu area, given the orientation of the mineralization and the drilling direction, measured widths are considered to approximate true widths; true widths should be at least 85 per cent to 90 per cent of measured widths. For the Nfante East area, it is too soon to make a judgment on the relation between measured widths and true widths.

Quality assurance/quality control and qualified person

The drill holes reported in this news release were drilled using three-inch blade bits for AC drilling and three-inch centre return RC hammer for sampling below 20 metres. Company security is provided at the drill site. Contractors working for Pelangio conducted all logging and sampling. All drilling performed with RC and AC set-up was performed without water injection.

Sample intervals for AC holes were 3.0 metres and sample intervals for RC drilling were 1.5 metres. Samples were split from a cyclone exhaust and weighed. A sample in return was split from the primary sample with a riffle splitter to obtain a 2.5-kilogram sample for assay. A sample of chips was extracted from the primary sample with a sieve and water and put in a chip tray with the interval marked on the chip tray. RC and AC chips were logged using hand lens and a microscope. The remainder of the sample is stored on site in plastic sample bags in a secure location at the Pelangio compound in Tepa, Ghana. The 2.5-kilogram sample for assay is placed into sealed bags and securely stored at the site before being shipped to the ALS Chemex laboratory in Kumasi, Ghana. The sample 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 every 20 samples, and ran one duplicate analysis every 20 samples.

The exploration program at the Manfo property is overseen by Warren Bates, PGeo (APGO No. 0211), a qualified person as defined by the Canadian Securities Administrators' 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.

About Minatura Alluvials

The Minatura group of companies is composed of privately and publicly held companies engaged in the exploration, development and extraction of precious and base metals in Colombia, Ghana and Sierra Leone. Minatura Alluvials focuses on developing alluvial resource estimates in accordance with Canadian Securities Administrators' National Instrument 43-101, alluvial mine development and alluvial production.

We seek Safe Harbor.