Ms. Ingrid Hibbard reports

PELANGIO EXPLORATION ANNOUNCES PROPOSED TEN TO ONE SHARE CONSOLIDATION

Pelangio Exploration Inc.'s board of directors has approved a consolidation of the company's common shares on the basis of 10 preconsolidation common shares for each one postconsolidation common share, subject to the approval of the TSX Venture Exchange.

A special resolution was passed at the company's annual and special meeting held on May 29, 2018, to give the board of directors of the company the authority and sole discretion to approve a consolidation of the company's common shares on the basis of a range of five preconsolidation common shares for each one postconsolidation common share to 10 preconsolidation common shares for each one postconsolidation common share. As at June 14, 2018, the company had 274,118,329 common shares issued and outstanding. Following the consolidation, the company will have approximately 27,411,833 common shares issued and outstanding.

The number of common shares reserved for issuance under the corporation's stock option plan and the number of common shares that may be purchased upon exercise of warrants will be reduced proportionately. No fractional common shares will be issued in connection with the share consolidation, but rather will be rounded to the nearest whole common share. Upon receipt of TSX Venture Exchange approval and the determination of the effective date of the consolidation, the company will issue a supplementary news release. The company's name and trading symbol will not change as a result of the consolidation, but the company will issue new share certificates under a new Cusip number. Shareholders will receive a letter of transmittal from Computershare, the company's exchange agent with instructions concerning their share certificates.

Further details with respect to the consolidation are contained in the company's management information circular dated April 13, 2018, a copy of which is available on SEDAR.

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 86 square km Akroma property which includes the Dormaa concession. Pelangio has also renewed its interest in its Canadian gold property at Birch Lake, Ontario.

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