Pelangio Exploration Inc.

Pelangio Exploration Inc.

May 07, 2013 12:52 ET

Pelangio Exploration Reports Results of Annual Meeting of Shareholders

TORONTO, ONTARIO--(Marketwired - May 7, 2013) - Pelangio Exploration Inc. (TSX VENTURE:PX)(OTCQB:PGXPF) ("Pelangio" or the "Company") is very pleased to announce Mr. Thor Eaton has been elected to the Board of Directors at the Company's Annual Meeting of Shareholders today.

Mr. Eaton is a highly regarded, well known Canadian businessman and philanthropist. Mr. Eaton serves as President of Notae Investments Limited since January 1998 and he has sat on the boards of a number of publicly traded companies in the mining sector. Mr. Eaton created the Thor E. and Nicole Eaton Family Charitable Foundation, in June 1999 which contributes to the livelihood of hospitals, environmental groups and Canadian cultural institutions, such as the Royal Ontario Museum, St. Michael's Hospital, the National Ballet of Canada and the Atlantic Salmon Association. He has been a director of Excellon Resources Inc. since August 2011 and joined the board of Nordex Explosives Ltd. in June 2012.

Pelangio would also like to thank Mr. Arthur Gordon Slade for his years of service and for agreeing to become the first member of Pelangio's Advisory Committee, Pelangio will continue to benefit from his knowledge and experience gained from over 33 years as a mining engineer and mining executive.

Pelangio is also pleased to announce that all proposed resolutions were approved by the Shareholders today, at the Annual Meeting of Shareholders.

About Pelangio

Pelangio successfully acquires and explores camp-sized land packages in world-class gold belts, while using innovative corporate restructuring to maximize shareholder value. The Company primarily operates in Ghana, West Africa, an English-speaking, common law jurisdiction that is consistently ranked amongst the most favourable mining jurisdictions in Africa. The Company is exploring three 100%-owned camp-sized properties: the 100 km2 Manfo Property, the site of seven recent near-surface gold discoveries, the 290 km2 Obuasi Property, located four kilometres on strike and adjacent to AngloGold Ashanti's prolific, high-grade Obuasi Mine, which has produced over 30 million ounces of gold since 1897, and the early-stage 160 km2 Akroma Property.

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. Forward-looking statements and information include statements regarding the Company's exploration plans. With respect to forward-looking statements and information contained herein, we have made numerous assumptions, including assumptions about our ability to continue our exploration plans. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's 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, speculative and uncertain nature of exploration, changes in equity markets, capital requirements and the ability to obtain financing, volatility of global and local economic climate, share price volatility, political developments in Ghana, increases in costs, exchange rate fluctuations and other risks involved in the gold exploration industry. See the Company's annual information form and annual and quarterly financial statements and 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 / Twitter @PelangioEx