Pelangio Exploration Inc.
TSX VENTURE : PX

Pelangio Exploration Inc.

June 29, 2009 09:39 ET

Pelangio Exploration Provides Property Update and Confirms Completion of Continuance

TORONTO, ONTARIO--(Marketwire - June 29, 2009) - Pelangio Exploration Inc. (TSX VENTURE:PX) ("Pelangio" or the "Company"), in response to a number of queries from investors, is pleased to provide an update on the location of its Thunder Gold and Poirier properties (the "Property") in the West Timmins District of Ontario. The Property is located adjacent to the Thunder Creek Joint Venture, a 60/40 joint venture between Lake Shore Gold Corp. and West Timmins Mining Inc., as approximated on the map, below:

To view the map associated with this press release, please visit the following link:
http://media3.marketwire.com/docs/px629.pdf

Continuance to the Canada Business Corporations Act

At the annual and special meeting of Pelangio's shareholders on June 25, 2009, the shareholders approved the continuance (the "Continuance") of the Company from the Business Corporations Act (Alberta) to the Canada Business Corporations Act, as further described in the Company's management information circular dated May 26, 2009. The Continuance was effected on June 25, 2009.

Pelangio to be featured on CEO Clips airing on BNN

CEO Clips, a series of 1-2 minute corporate profiles on Canadian companies, will feature Pelangio on BNN from June 29 to July 29, 2009. The clip can also be viewed online via the following link: http://www.pelangio.com/s/Home.asp. In addition, the clip will be posted on Yahoo Finance Canada, stockhouse.ca and MSN Finance as well as www.ceoclips.com.

About Pelangio

Pelangio is a gold exploration company active in the top-ranked mining jurisdictions in the world, Canada and Ghana. The Company's main focus is to advance its exploration programs on its premier land position in Ghana totaling 290 square kilometres, located on strike and adjacent to AngloGold Ashanti's Obuasi gold mine.

About BNN

Business News Network (BNN) is Canada's only all business specialty channel with real time coverage of global market activity from a Canadian perspective.

For additional information, please visit our website at www.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 our exploration plans and exploration results with respect to our properties, and are subject to forward-looking risks, uncertainties and other factors which may cause our 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 and other risks involved in the gold exploration industry. See our management information circular and our annual and quarterly 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.

Contact Information

  • Pelangio Exploration Inc.
    Ingrid Hibbard
    President & CEO
    905-875-3828 or Toll Free: 1-877-746-1632
    (905) 875-3829 (FAX)
    or
    Pelangio Exploration Inc.
    Brendan Cahill
    Corporate Secretary
    905-875-3828 or Toll Free: 1-877-746-1632
    (905) 875-3829 (FAX)
    info@pelangio.com
    www.pelangio.com