Ms. Ingrid Hibbard reports

PELANGIO ANNOUNCES REVISIONS TO ROSCAN AGREEMENT AND RESULTS FROM FINAL TWO DIAMOND DRILL HOLES AT MANFO

Pelangio Exploration Inc. has made revisions to the amended and restated option and joint venture agreement with RosCan Minerals Corp. on the Dormaa project, and has released results from the final two diamond drill holes at its Manfo project in Ghana, West Africa.

Amended and restated option and joint venture agreement

The Paramount Chief of the Dormaa Traditional Council approved the commencement of the air core drill program in April, 2018, necessitating an extension of the agreement. Therefore, the agreement has been amended to provide RosCan with a six-month extension of all due dates. The results from the program will be released once the assay data have been received and evaluted.

To earn its interest, RosCan is now required to make the following payments.

Finance $1.7-million in exploration expenditures:

• $700,000 by Dec. 5, 2018;
• $1-million by Dec. 5, 2019.

Cash payments to Pelangio totalling $250,000:

• $50,000 on Dec. 5, 2018;
• $200,000 on Dec. 5, 2019.

Results of final two diamond drill holes at Manfo

The two final diamond drill holes were completed, SPDD18-04 and SGDD18-05, at the Pokukrom East and Nkansu North prospects in Ghana. SPDD18-04 was drilled at a 45-degree inclination and a 117-degree azimuth, to fill in a 100-metre gap in drilling on the southern end of Pokukrom East, and SGDD18-05, at the same orientation, as SPDD18-04 was completed on a soil anomaly in the northeast corner of the Nkansu area.

                                   RESULTS

BH ID       From (m)    To (m)   Core length (m)   Au grade (g/t)   Hole depth (m)

SPDD18-04        74        96                22             0.71            128.6         
SGDD18-05        30        60                30             0.16            166.5         

All mineralized intercepts are core lengths with length-weighted average gold grades, true and widths are expected to be 75 to 85 per cent of core lengths.

Quality assurance, quality control and qualified person

The drill holes reported in this press release were drilled using HQ-(63.5 millimetres)- and NQ-(47.6 millimetres)-sized 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 approximately one metre and 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 Intertek Minerals Ltd., laboratory in Tarkwa, Ghana. The core was dried and crushed by Intertek, and a 150-gram pulp was prepared from the coarse crushed material. Intertek 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, Intertek inserted one preparation blank and a certified reference sample in and 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 (APGO No. 0211 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.

About Pelangio Exploration Inc.

Pelangio 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 284-square-kilometre Obuasi property, located four kilometres on strike and adjacent to AngloGold Ashanti's prolific high-grade Obuasi mine, and the early-stage 159-square-kilometre Akroma properties, which include the Dormaa and Wamfie concessions.

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