Significant Gold In Soil Anomalism Identified At Dankran Project

TORONTO - Pelangio Exploration Inc. reported significant assay results from its initial soil sampling program on the recently acquired Dankran Project in Ghana, which commenced in December. Following the positive results, an infill soil sampling program was initiated, which is nearly completed, to more accurately define ten target areas with very significant gold in soil anomalism generated from the initial sampling program. The results from the infill program will influence the design of the Reverse Circulation ("RC") drilling program to test the most significant anomalies. The drill program is expected to commence in February.

Highlights of the Dankran Soil Sampling Program: A first-pass soil sampling program of 1,126 samples returned very significant gold (Au) in soil anomalism delineating ten areas of multi-sample anomalism in residual soils up to 1,000 meters (m) X 250m in size with assays up to 2,067 parts per billion (ppb) Au; The sampling shows very significant gold in drainage channels, emanating from the historic Obuom gold mine, which are worked locally by artisanal miners; as well as targets within the Dankran property, with individual samples assaying up to 4,578 ppb Au; and A nearly completed follow-up infill soil sampling program of 424 samples is underway, intending to refine gold in soil targets for the purpose of designing an initial RC drill test of the most prospective soil anomalies, planned.

Ingrid Hibbard, President and CEO, said, "We are very encouraged with these initial results from our Dankran project, which covers an additional seven kilometers of strike on the prolific Ashanti Belt, located adjacent to the northeast corner of our Obuasi project for a combined total of 318.65 square kilometers (km2). Our camp sized projects in Ghana continue to be our current focus and represent significant discovery potential for our shareholders."