Pelangio Exploration Inc.
TSX VENTURE : PX
OTC Bulletin Board : PGXPF

Pelangio Exploration Inc.

May 09, 2011 08:00 ET

Pelangio Exploration Grants Options

TORONTO, ONTARIO--(Marketwire - May 9, 2011) - Pelangio Exploration Inc. (TSX VENTURE:PX)(OTCBB:PGXPF) ("Pelangio" or the "Company") is pleased to announce that the Board of Directors has approved the grant of 150,000 options to certain geological consultants of the Company, which options are exercisable into common shares of the Company at a price of $0.61 per share.Subject to the rules of the TSX Venture Exchange and the Company's Stock Option Plan the options have a term of five years and will expire on May 9, 2016.

About Pelangio

Pelangio is a junior gold exploration company that acquires and explores camp-sized land packages in world-class gold belts, while using innovative corporate restructuring to maximize shareholder value. Drilling is currently underway on two properties with company-making potential in Ghana, West Africa: the 100 square kilometre Manfo Property on the Sefwi greenstone belt between the Ahafo and Chirano mines, respectively operated by Newmont and Kinross, is the site of four recent near-surface gold discoveries; and the 290 square kilometre Obuasi Property on the Ashanti greenstone belt is located on strike and adjacent to AngloGold Ashanti's prolific, high-grade Obuasi Mine, which has produced over 30 million ounces of gold since 1897.

For additional information, please visit our website at www.pelangio.com.

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
    Tel: 905-875-3828 or Toll-free: 1-877-746-1632

    Pelangio Exploration Inc.
    Brendan Cahill
    VP Corporate Development
    Tel: 905-875-3828 or Toll-free: 1-877-746-1632
    info@pelangio.com
    www.pelangio.com