Ms. Ingrid Hibbard reports

PELANGIO EXPLORATION EXTENDS PRIVATE PLACEMENT

Pelangio Exploration Inc. is extending the time to complete additional tranches of its non-brokered private placement, originally announced July 6, 2017, and increased in size to $600,000 on Aug. 1, 2017. To date, the company has raised $523,500 from the sale of 10.47 million units at a price of five cents per unit in two tranches that closed on July 31 and Aug. 9, 2017, respectively.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of seven cents per share until July 31, 2020. In the event that the common shares trade on the TSX Venture Exchange at a volume-weighted average price of 14 cents or more per common share for any period of at least 10 consecutive trading days after July 31, 2017, the company shall be entitled to accelerate the expiry time of the warrants to a date that is at least 30 days from the date that written notice of such acceleration is provided to the holders of the warrants by way of news release, with the new expiry time specified in such notice.

Any and all additional closings of this private placement will take place no later than Sept. 14, 2017.

The company intends to use the total proceeds from the private placement to begin the planned $2-million multiphase exploration program and for working capital purposes, all as further described in the company's news releases dated July 6 and Aug. 1, 2017. All and any additional proceeds above $500,000 will be used for working capital purposes.

About Pelangio Exploration Inc.

Pelangio successfully acquires and explores camp-sized land packages in world-class gold belts. The company primarily operates in Ghana, West Africa, an English-speaking, common law jurisdiction that is consistently ranked amongst the most favourable mining jurisdictions in Africa. The company is exploring three 100-per-cent-owned camp-sized properties: the 100-square-kilometre Manfo property, the site of seven recent near-surface gold discoveries, the 264 square km Obuasi property, located four km on strike and adjacent to AngloGold Ashanti's prolific high-grade Obuasi mine, and the early-stage 159 square km Akroma properties, which include the Dormaa and Wamfie concessions.

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