Pelangio Exploration Inc. Announces Option to Acquire up to an 83% Interest in the Nkosuo Project Adjacent to Pelangio's Manfo Project

Core Viewpoint - Pelangio Exploration Inc. has entered into a strategic agreement with FJ Minerals Limited to acquire up to an 83% interest in the Nkosuo Project, which is adjacent to Pelangio's Manfo Project in Ghana, aiming to enhance exploration and development efforts in the region [1][2][3]. Acquisition Terms - The agreement allows Pelangio to acquire an 83% interest in the Nkosuo Project by transferring a 17% interest in the Manfo Project to FJ, forming a Joint Venture with Pelangio as the operator [5][10]. - The Nkosuo Option must be exercised by December 15, 2025, or it will terminate [5]. - Nathawo Properties and Investment Ltd. has the option to acquire a 10% interest in the Combined Project by providing $1,000,000 by July 5, 2025 [5][6]. Project Highlights - The Nkosuo Project covers an area of 18 km² and has a 30-year Mining Lease [5]. - Previous exploration indicates that gold mineralization structures from the Manfo Project extend into the Nkosuo Project for up to 4.4 km [5][9]. - Notable exploration results include an RC hole returning 37 meters of 1.52 g/t Au and a trench assay of 37 meters of 5.60 g/t Au, indicating significant gold potential [5][8]. Geological Context - The Nkosuo Project is interpreted to be underlain by the same geological formations as the Manfo Project, suggesting continuity in gold mineralization [7][9]. - Historical exploration by Ashanti Goldfields Corp. and extensive artisanal mining have revealed several mineralized trends extending into the Nkosuo Project [9][10]. Investment Participation - MFD Investment Holdings SA has a prior option to earn a 10% interest in the Manfo Project and has chosen to participate in the FJ Agreement [10]. - If all options are fully exercised, the ownership structure of the Combined Project will be Pelangio 65.7%, FJ 17%, Nathawo 10%, and MFD 7.3% [10].