Core Insights - Pelangio Exploration Inc. is conducting a high-resolution UAV aeromagnetic survey covering 900 line-kilometers with 50-meter spacing, aimed at enhancing geological interpretation and target ranking for drill testing [1][2] - The survey is approximately 45% completed and is expected to significantly assist in the exploration of the Nkosuo Mining Lease and the broader Manfo project area [1][2] - The company is nearing the completion of an updated Mineral Resource Estimate for the Manfo project, with plans to release it within the current quarter [2] Company Overview - Pelangio Exploration focuses on acquiring and exploring land packages in gold-rich regions, specifically in Ghana and Canada [6] - The company holds two 100% owned properties in Ghana: the 106 km² Manfo property, which has eight near-surface gold discoveries, and the 280 km² Obuasi property, adjacent to AngloGold Ashanti's high-grade Obuasi Mine [6]

Core Viewpoint - Pelangio Exploration Inc. has successfully closed a non-brokered private placement, raising gross proceeds of $1,000,000 through the issuance of 25,000,000 units at a price of $0.04 per unit [1][2]. Group 1: Private Placement Details - Each unit consists of one common share and one common share purchase warrant, with each warrant allowing the purchase of one common share at an exercise price of $0.05 for a period of 36 months [2]. - The company plans to utilize the gross proceeds for working capital, including exploration, metallurgical work, land maintenance costs, and up to 10% for settling non-arm's length payables [3]. Group 2: Regulatory and Compliance Information - No finder's fees are applicable for this private placement, and all securities issued are subject to a statutory four-month hold period [4]. - The private placement is pending final approval from the TSX Venture Exchange [4]. Group 3: Company Overview - Pelangio Exploration focuses on acquiring and exploring land packages in gold-rich regions, specifically in Ghana and Canada, with notable properties including the Manfo and Obuasi properties in Ghana [6].