Pelangio Exploration Inc.

Pelangio Exploration Inc.

April 07, 2009 09:00 ET

Pelangio Exploration Commences 2009 Aerial Survey of Obuasi Property, Ghana

TORONTO, ONTARIO--(Marketwire - April 7, 2009) - Pelangio Exploration Inc. (TSX VENTURE:PX) ("Pelangio" or the "Company") has commenced an airborne survey program on its Obuasi property in Ghana covering areas not surveyed during the previous aerial survey completed in 2007. The purpose of the survey is to determine the exact location of the Main Obuasi Trend as it crosses the Company's larger property.

"The 2007 aerial survey proved, along with our 2008 drilling and mapping, that the Main Obuasi Trend runs onto our property and provided a structural framework to develop future drill targets," stated Warren Bates, Senior Vice President Exploration of the Company. "Similarly, this survey will extend the known location of the Trend on our property significantly. We also expect to develop drill targets in previously underexplored portions of the property, though the Main Obuasi Trend will remain our primary focus."

The 1,950 line kilometre program will consist of VTEM electromagnetic and magnetometer measurements and will serve as a structural mapping tool to define sheared argillites that are similar to those that host gold at AngloGold Ashanti's Obuasi gold mine located 2.5 kilometres southwest of Pelangio's property boundary.

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.

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, political developments in Ghana, increases in costs, exchange rate fluctuations and other risks involved in the gold exploration industry. See the management information circular dated March 19, 2008 of Pelangio Mines Inc. and our 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
    Pelangio Exploration Inc.
    Warren Bates
    Senior Vice President Exploration
    905-875-3828 or Toll Free: 1-877-746-1632
    905-875-3829 (FAX)