Ms. Ingrid Hibbard reports

PELANGIO EXPLORATION ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT FOR PROCEEDS OF $555,817

Pelangio Exploration Inc. is closing the first tranche of its previously announced private placement of 18,627,233 units of the company at a price of three cents per unit for gross proceeds of $558,817 on Monday, July 13, 2015. In the first tranche, 5,028,666 of the units for gross proceeds of $150,860 are being issued to existing shareholders participating through the existing securityholder prospectus exemption available under OSC Rule 45-501 -- Ontario Prospectus and Registration Exemptions, and equivalent provisions of other applicable securities laws.

Each unit sold pursuant to the first tranche 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 Jan. 13, 2017, 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 Nov. 14, 2015, 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 company expects to use the proceeds of the first tranche as described in its news release dated June 25, 2015, with additional proceeds above the minimum amount of $400,000 to be used for continued exploration at its Ghana properties, including drilling up to 10,000 metres of predominantly air core and selected reverse circulation, and for general working capital purposes. Although the company intends to use the proceeds of the first tranche as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations, or unforeseen events or opportunities, in the discretion of management and the board of directors of the company.

The company will pay a finder's fee of $17,970 to certain introducing parties in respect of a portion of the proceeds of the first tranche, subject to compliance with applicable securities legislation and TSX Venture Exchange policies. The private placement including the first tranche is subject to receipt of all necessary regulatory approvals, including that of the TSX Venture Exchange. The securities issued pursuant to the first tranche will be subject to a four-month hold period in accordance with applicable Canadian securities laws, expiring Nov. 14, 2015. Certain directors and/or officers of the company are participating in the first tranche for a total of 7,166,667 units.

We seek Safe Harbor.