Pelangio Mines Inc.

Pelangio Mines Inc.

July 04, 2008 15:52 ET

Pelangio Congratulates the Detour Gold Team on its Updated Resource Estimate on the Detour Lake Project

TORONTO, ONTARIO--(Marketwire - July 4, 2008) - Pelangio Mines Inc. (TSX:PLG) ("Pelangio") would like to congratulate the Detour Gold team on its excellent ongoing work on the Detour Lake property in northern Ontario. Detour Gold has increased the measured and indicated resources on the project by 125% (from 4.8 million ounces to 10.8 million ounces of gold), with a further 2.5 million ounces of gold in the inferred category.

"Gerald Panneton's team at Detour Gold has once again exceeded our expectations in increasing the mineral resources at the Detour Lake project and proving that the deposit continues to hold significant upside potential," stated Ingrid Hibbard, Pelangio's President and Chief Executive Officer. "Detour Gold's excellent work to date has significantly increased the value of our investment and we intend to continue holding our investment as the project moves towards development and production."

About Pelangio

Pelangio is a gold exploration company active in the top-ranked mining jurisdictions in the world, Canada and Ghana. Pelangio'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.

Pelangio also has a 44.6% equity interest in Detour Gold, which controls the Detour Lake advanced exploration project. The near-term objective of Detour Gold is to advance the Detour Lake project to development and production.

Contact Information

  • Pelangio Mines Inc.
    Ingrid Hibbard
    President & CEO
    (905) 875-3828 or Toll Free: 1-877-746-1632
    Pelangio Mines Inc.
    Warren Bates
    Vice President Exploration
    (905) 875-3828 or Toll Free: 1-877-746-1632