NEWS RELEASE
PELANGIO EXPLORATION ANNOUNCES FURTHER DRILL RESULTS
FROM THE OBUASI PROPERTY
TORONTO, Ontario, (May 27, 2010) – Pelangio Exploration Inc. (PX:TSX-V) (“Pelangio” or the
“Company”) is pleased to announce assay results from a further 4,955 metres (20 holes) of its
first phase diamond drill program on its property in Obuasi, Ghana (the “Obuasi Property”).
“These results are the first step in unlocking the full potential of the Obuasi Property,” stated
Warren Bates, Senior Vice President Exploration of Pelangio. “We have encountered broad
zones of anomalous gold mineralization at a number of drill targets that are interpreted as the
more expansive halo typically associated with nearby high-grade gold mineralization. The
alteration and sericitization intersected at Big Vein is particularly promising as a target for
upcoming drill phases. For a property at this stage of exploration, we are encouraged with what
we’ve learned from the first phase program, and look forward to the next drill program on the
property.”
The first phase drill program on the Obuasi Property successfully provided the geological data
necessary to mount effective future drill programs as it:
 encountered the graphitic structures (including the Obuasi and Cote D’Or fissures) and
mafic contact associated with gold mineralization at the Obuasi mine (key features for
orienting future drill programs);
 intersected broad zones of alteration at most targets, including significant sericitization
and anomalous gold mineralized widths at the Big Vein prospect;
 confirmed gold mineralization along the Main Obuasi Mine Trend on the Obuasi Property;
 confirmed Mount Kate, Big Vein, Tikal, and NT 1 as targets meriting significant additional
drilling.
The drilling results reported today are from the first phase diamond drill program conducted at
the Mount Kate, Tikal, East Copper and Big Vein prospects, all of which are located on the Main
Obuasi Mine Trend, as well as the NT 1 and Kusa prospects (see: image 1). Significant
intersections and prospects that the Company currently deems worthy of continued exploration
are discussed below:
Mount Kate
Pelangio drilled four holes totaling 1,230 metres at Mount Kate between January and April 2010.
These holes were designed to test the northern half of a 1.2 kilometre long MMI (mobile metal
ion) anomaly in the area and to follow up on structural and geological targets intercepted during
the 2008 drilling program. The best results were encountered in drill hole PG10-MK-04, which
intersected 1.33 g/t gold over 2.0 metres, within a broader intercept of 0.49 g/t gold over 7.0
metres in a broad package of alteration. The mineralization is located at the contact between
graphitic, sheared sediments and altered mafic volcanics, which is typical of the geological
setting of the gold mineralization in the Obuasi mine.
Pelangio Exploration Inc.
440 Harrop Dr., 2nd Floor
Milton, Ontario L9T 3H2
Phone (905) 875-3828
Fax (905) 875-3829
Drilling on the prospect to date has also defined that the Cote D’Or structure, one of the two
major faults hosting mineralization at the Obuasi mine, has an orientation of azimuth 20°/60°NW
in the area. The Company will use this information to more effectively orient future drill
programs in relation to historical knowledge regarding the Obuasi mine.
Further drilling will be performed at Mount Kate on the southern portion of the MMI anomaly,
after the geologic interpretation is completed.
Tikal
The Tikal prospect is located approximately 1.8 kilometres north of the Mount Kate prospect. In
December 2009, Pelangio drilled two holes in the Tikal area, both of which intersected strong
sulphide alteration and silicification (refer to press release dated January 25, 2010). The
mineralization occurs at the base of a deformed argillite sequence underlain by a greywacke
horizon. Three holes were drilled to follow up on these results during 2010. PG09-TK-02, a 100
metre step-out hole to the northeast, intersected the same style of alteration as in hole PG09-
TK-01 and intercepted 1.4 g/t gold over 3.0 metres. Drill hole PG09-TK-04, 100 metres along
strike to the southwest, intersected the structure, but with very little alteration. A third hole,
PG10-TK06, collared 175 metres northeast of PG09-TK-01, did not intersect reportable grades.
The drilling completed to date at Tikal, suggests a shallow northeast plunging zone of
mineralization, which remains open to depth.
Further drilling will be conducted during 2010 in this area.
Big Vein
The Big Vein prospect is located near the western property boundary and 900 metres north of
the Mount Kate prospect. Two holes were drilled on the prospect from the same collar at -50°
and -75 dips. The Company has interpreted that these holes intersected the Obuasi fissure,
which is identified by steep north-dipping mafic slivers in a broad argillite-hosted shear zone.
Both drill holes displayed strong sericite-pyrite alteration in mafic volcanic rock. PG09-BV-02
contained a wide zone of anomalous gold averaging 0.34 g/t gold 22 metres in sheared argillite
in the immediate hanging wall of the mafic horizon. The Company plans to conduct further
drilling beneath and along strike of this prospect during 2010.
NT 1
The NT1 prospect is located approximately four kilometres southeast of the Mount Kate
prospect. During the first phase program, the Company drilled three holes from north to south
at 100 metre spacing in an east-west direction stepped 90 metres behind an anomalous drill
hole (PG07-NT1-3) completed during the 2007 program.
The best results were obtained in drill hole PG10-NT1-81, the easternmost hole, which cut a 78
metre interval grading 0.26 g/t gold, including three intersections grading in excess of 1.0 g/t
gold. Anomalous gold mineralization was intersected in Upper Birimian quartzite, immediately
south of a regional fault contact between the quartzite and Lower Birimian argillites.
Further work in the area will include auger drilling in areas to the immediate northwest of NT1
where gold in soil anomalies is hosted in Lower Birimian argillite, which is understood to be a
more favorable host for gold mineralization.
The following table summarizes significant assay results reported herein:
Area DHID1
From
(metre)
To
(metre)
Interval
(metres)2
Au
(g/t)
Hole
Length
(metres)
Mount Kate PG10-MK-04 118 125 7 0.49 250
including 121 123 2 1.33
PG10-CD-01 303 304 1 2.44 511
Big Vein PG09-BV-02 207 229 22 0.34 322
including 222 224 2 1.00
and including 226 227 1 1.14
Tikal PG10-TK-02 91 94 3 1.40 217
NT 1 PG10-NT1-79 187 188 1 1.24 209.5
PG10-NT1-81 8 86 78 0.26 166
including 9 10 1 1.16
and including 14 20 6 1.04
and including 70 73 3 1.00
Kusa PG10-KU-82 93 115 22 0.24 162.5
including 127 129 2 1.30
PG10-KU-83 78 106 28 0.27 139
including 103 104 1 1.69
PG10-KU-84 67 68 1 1.41 133
East Copper PG10-EC-02 156 157 1 3.03 463
1 No significant intervals in PG10-DD-78, PG10-MK-05, PG10-BV-01, PG10-TK-04, PG10-
TK-05, PG10-TK-06, PG10-NT1-80, PG10-KU-85, PG10-EC-01, PG10-EC-03.
2 Intervals are core length. True width is unknown at this time.
The Company will conduct further surface exploration at Kusa and East Copper before planning
a new series of drill holes at these prospects.
Including the assay results announced today, Pelangio has now completed the first phase of its
proposed two-phase drill program on the Obuasi Property, comprising 32 holes totaling 9,160
metres of diamond drilling (see: image 2). The Company is building on the geologic knowledge
gained during the first phase program and on promising exploration results obtained from
ongoing fieldwork to define the targets on the current prospects and to develop additional ones.
Quality Assurance/Quality Control and Qualified Person
The drill holes reported in this press release were drilled using HQ (63.5 mm) and NQ (47.6
mm) 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 one metre, then split 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 Brofoyedru, Ghana. The other half was sampled, placed into sealed bags and
securely stored at the site until it was shipped to ALS Chemex in Kumasi, Ghana. The core was
dried and crushed by ALS Chemex and a 150 gram pulp was prepared from the coarse crushed
material. ALS Chemex 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, ALS Chemex inserted one preparation blank and certified
reference material for every 20 samples and one duplicate analysis every 20 samples.
The exploration program at the Obuasi Property is overseen by Warren Bates, P. Geo.
(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
Pelangio is a junior gold exploration company with over $7 million in working capital that is
active in two of the top-ranked mining jurisdictions in the world, Canada and Ghana. The
Company’s primary goal is to discover Obuasi mine-style gold ore shoots on its 290 km2
property located on strike and adjacent to AngloGold Ashanti’s Obuasi mine, which has
produced 30 M oz of gold since 1897 and holds current reserves and resources of 37 M oz (9.7
M oz reserve in a global resource comprising: 24.5 M oz measured and indicated; 12.5 M oz
inferred – as further described in AngloGold Ashanti’s Mineral Resource and Ore Reserve
Report 2008).
For additional information, please visit our website at www.pelangio.com or contact:
Ingrid Hibbard, President & CEO or
Warren Bates, Senior Vice President Exploration
Tel: 905-875-3828 / Toll-free: 1-877-746-1632 / Email: info@pelangio.com
Forward Looking Statements
Certain statements herein may contain forward-looking statements and forward-looking information within
the meaning of applicable securities laws. Forward-looking statements or information appear in a number
of places and can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”
or “believes” or variations of such words and phrases or statements that certain actions, events or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. With respect to forward-looking
statements and information contained herein, we have made numerous assumptions. Forward-looking
statements and information include statements regarding the Company’s exploration plans and
exploration results with respect to the Obuasi Property, and are subject to forward-looking risks,
uncertainties and other factors which may cause the Company’s actual results, performance or
achievements, or industry results, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statement or information. Such risks include
gold price volatility, changes in equity markets, political developments in Ghana, increases in costs,
exchange rate fluctuations and other risks involved in the gold exploration industry. See the Company’s
annual and quarterly financial statements and management’s discussion and analysis for additional
information on risks and uncertainties relating to the forward-looking statement and information. There
can be no assurance that a forward-looking statement or information referenced herein will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such
statements or information. Also, many of the factors are beyond the control of the Company. Accordingly,
readers should not place undue reliance on forward-looking statements or information. We undertake no
obligation to reissue or update any forward-looking statements or information except as required by law.
All forward-looking statements and information herein are qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Tikal East Copper
Mount Kate
Big Vein
To Kusa
To NT1
Pelangio Obuasi Property
Pelangio Exploration Inc.
Main Obuasi Mine Trend
First Phase Drilling
N
Mafic Volcanics
MMI Anomalies
Structures from the
2007 VTEM Survey
NT1
3 holes drilled
Total 560m
Mount Kate
7 holes Drilled
Total: 2758m
School House West
3 holes Drilled
Total: 864m
East Copper
3 holes drilled
Total: 1152m
6 holes drilled Tikal
Total: 1314m
Boundary
4 holes drilled
Total: 1380m
Big Vein
2 holes drilled
Total: 590m
Kusa
4 holes drilled
Total 542.5m
Obuasi Mine
37 M oz Resources
Pelangio Obuasi Property
Pelangio Exploration Inc.
First Phase Drill Program
N
Pelangio Exploration
Granodiorite Intrusive
Structures from 2009
VTEM Survey
Structures from the
2007 VTEM Survey
0 2 4km