Ms. Ingrid Hibbard reports

PELANGIO COMPLETES SUCCESSFUL 2026 MANFO DRILL PROGRAM, DEMONSTRATING EXTENSIONS AT POKUKROM EAST

Pelangio Exploration Inc. has completed the 2026 phase of resource extension drilling of the Pokukrom deposits at Manfo and all assays have been received. Assays for five previously unreported drill holes are reported, with the best result among these holes in hole SPDD26-009 of 43 metres of 0.54 gram per tonne gold, including 18 metres of 0.82 g/t, plus eight metres of 0.80 g/t Au.

"We extended the Pokukrom East deposit, and there is more to test," said Ingrid Hibbard, president and chief executive officer of Pelangio. "The high-grade shoot remains open to the north, and mineralization remains open downdip to the south. Future drilling will target these extensions while continuing to pursue resource growth across the broader Manfo project."

2026 drilling demonstrates extensions at Pokukrom East and sharpens the focus for future drilling:

• Previously reported drill hole SPDD26-008 was the strongest hole in the 2026 program, returning 26 metres at 2.99 g/t Au, including six metres at 11.74 g/t Au by fire assay and extending the known resource 150 metres downplunge to the north.
• Drill hole SPDD26-009 intercepted 43 metres of 0.54 g/t Au, including 18 metres of 0.82 g/t Au, plus eight metres of 0.80 g/t Au at Pokukrom East.
• Pokukrom East deposit remains open to the north and downdip near the southern end.
• A PhotonAssay check on the high-grade and medium-grade mineralization encountered in hole SPDD26-008 returned a 14.5 per cent higher gold grade on average than the fire assay results.
• The drilling program is complete, with all assays returned.
• A senior structural geologist has been contracted to examine the drill core and provide guidance on future drill planning.

The Manfo gold project hosts an updated mineral resource estimate conducted by SEMS Technical Services of Ghana and filed on SEDAR+ on Sept. 10, 2025, comprising an indicated mineral resource of 441,000 ounces of gold at an average grade of 1.16 g/t Au (11.8 million tonnes) and an inferred mineral resource of 396,000 ounces of gold at an average grade of 0.77 g/t Au (16 million tonnes).

The recently completed drilling program was designed to expand mineralization beyond the limits of the existing resource and to further define the continuity of mineralized zones. The 2026 program successfully demonstrated extensions to Pokukrom East at the northern end and downdip near the southern end. Mineralization remains open in both areas, and further drilling is warranted.

Manfo drilling program and final results

The planned resource-extensional diamond drilling program on the Pokukrom East and West deposits of the Manfo project has been completed and all assay results have been received. In total, three holes were drilled at Pokukrom West (533.5 metres) and nine holes were drilled at Pokukrom East (2,417.7 metres) for a total of 12 holes drilled for 2,951.2 metres. Results have been previously reported for the three holes at Pokukrom West plus four holes at Pokukrom East. Results for the final five holes at Pokukrom East are reported below.

Strongest hole of the program extended the known resource 150 metres north

Two holes were drilled at Pokukrom East near SPDD26-008, the strongest hole in the 2026 program. As previously reported, SPDD26-008 returned 26 metres at 2.99 g/t Au, including six metres at 11.74 g/t Au, extending the known resource of Pokukrom 150 metres downplunge to the north (reported June 15, 2026). Drill hole SPDD26-010, an approximately 50-metre stepout above and to the north of SPDD26-008, returned multiple generally narrow, lower-grade mineralized zones. Refer to Table 1 for all final drilling assays. Drill hole SPDD26-011 was intended to fill the gap between SPDD26-008 and the historical drilling, although it intercepted the mineralization at a shallower elevation than was planned. SPDD26-011 was more strongly mineralized than SPDD26-010, with multiple mineralized zones up to nine metres at 0.92 g/t Au, although the mineralization lacked the high-grade encountered in SPDD26-008. The high-grade shoot in Pokukrom East remains open downplunge/to the north and will be probed farther to the north in future stepout drilling. Infill drilling will also be conducted to better define the extents of the high-grade mineralization at depth in this area. The depth to which the conceptual open pit can be economically extended to the north may depend on the extent and tenor of updip mineralization, which has been sparsely drilled to the north. Further infill drilling will also be planned at shallower elevations to the north.

Final results confirm mineralization remains open downdip near the southern end

Drill hole SPDD26-009 was drilled to extend Pokukrom East mineralization downdip near the shallower southern end of the deposit. The hole returned multiple mineralized zones, including a broad intercept of 43 metres at 0.54 g/t, including 18 metres of 0.82 g/t Au, plus eight metres at 0.8 g/t Au. The hole was not positioned quite as far to the south as was planned; however, the results were favourable and confirm the mineralization remains open downdip in this shallower southern section of the conceptual open pit and further drilling to test for downdip extensions to the Pokukrom East orebody in this area will be conducted.

Drill holes SPDD26-004 and SPDD26-012 were drilled nearly 100 metres south of the southern limit of the orebody and, while reasonably well altered, were very weakly gold mineralized. These two holes limit the southern extension of the Pokukrom East orebody; however, a historical shallow hole drilled 140 metres farther to the south was modestly mineralized so gold mineralization could possibly pick up again farther to the south, which is untested by drilling.

The 2026 program sharpens the focus for future drilling

The 2026 resource extension drilling program on the Pokukrom deposits at Manfo successfully demonstrated extensions to the Pokukrom East deposit at the northern end plus downdip near the southern end of the deposit. Continued drilling in these areas to probe further extensions of the mineralization, along with infill drilling to quantify resource additions, will be undertaken when drilling resumes at Manfo. The program limited the southern extent of Pokukrom East and limited the potential for resource expansion of Pokukrom West, so further drilling of these areas will not be required and the focus of future resource drilling will be on those areas of Pokukrom East, where the mineralization remains open plus resource expansion drilling of the Nkansu and Nfante West deposits. Table 1 lists the drill hole assay intercepts previously unreported and Table 2 lists all the results from the 2026 drilling program at Manfo.

Structural review will help guide the next phase of drilling

To support improved modelling of Pokukrom East mineralization in the next resource update and guide future drill planning, the company has contracted a highly experienced structural geologist to examine the Pokukrom East drill core for one week, beginning before the end of September. A better understanding of the structural and geological controls on mineralization will support continued resource expansion and exploration at the Manfo project.

Methodology, quality assurance/quality control

Diamond drilling was conducted using an SA13000 small-footprint diamond drill rig augmented by a man-portable Hydracore rig. HQ coring was conducted in the oxide, which ranged from five to 40 metres deep, followed by NQ2 coring to the bottom of hole. Drill holes were spotted in the field with a hand-held GPS (Global Positioning System) with a locational accuracy of three to five metres. At the conclusion of the drilling program, all 2026 drill collar positions were surveyed with a Trimble R10 GNSS system. A Champ-Magshot multishot survey instrument was used for downhole survey readings every 12 metres, and a core orientation instrument was employed in the drilling program to enable accurate 3-D measurement of geological features and structure.

Samples were obtained nominally at one-metre intervals by sawing the drill core in half with a diamond saw and submitting half-core to the Intertek Minerals Ltd. laboratory in Tarkwa, Ghana, for low-detection (0.01 part per million) 50-gram fire assay plus AA finish for gold. QA/QC samples, including certified standards, blanks and sample duplicates, were inserted into the sample stream at a rate of one in 10 samples. The QA/QC results were within acceptable limits. The laboratory also performed its own internal QA/QC checks, which were also acceptable.

Drill hole SPDD26-007 returned weak assay results despite showing moderate to strong alteration, prompting a reassay to confirm the original findings. The reassay was completed at ALS Global's laboratory in Kumasi, Ghana, using the same methodology applied by the Intertek laboratory. The reassay results were on average within several per cent of the original values and showed a very strong correlation with Intertek's results, with r equal to 0.99, validating the original results from Intertek.

PhotonAssay check returned an average gold grade 14.5 per cent higher

In addition, mineralized intercepts from the strongest hole, SPDD26-008, were analyzed by PhotonAssay at the Intertek laboratory in Tarkwa. The 66 samples (sample rejects from the original analysis at Intertek, renumbered to be blind samples) reanalyzed by PhotonAssay returned gold results 14.5 per cent higher than for fire assay, possibly indicating that fire assay may be underrepresenting the gold content at Pokukrom East. Further evaluation of the PhotonAssay method will be undertaken in future drilling programs and a switch over to PhotonAssay as the primary analytical method might be considered in the future.

Qualified person

Kevin Thomson, PGeo (Ontario, No. 0191), senior vice-president, exploration and director, is a qualified person within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Thomson approved the scientific and technical disclosure in this release.

About Pelangio Exploration Inc.

Pelangio Exploration is a Canadian mineral exploration company focused on advancing gold projects in Ghana and Canada. The company's principal asset is the 100-per-cent-owned Manfo gold project in the Sefwi gold belt, which hosts an NI 43-101-compliant mineral resource and is the focus of continuing drilling and exploration. In Ghana, Pelangio also holds the Dankran property, where previous work has identified high-grade gold mineralization, with potential for follow-up drilling, along with the Obuasi property, where early-stage exploration is under way. Pelangio's exploration programs are designed to expand known mineralization and evaluate new targets through a disciplined and systematic approach.

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