Pelangio Exploration Inc. (TSXV: PX) (OTC Pink: PGXPF) announced on November 9, 2026 that Controlled Source Electromagnetic surveys at its Manfo and Obuasi projects in Ghana are complete, diamond drilling is now underway at its Dankran property, and a structural study has concluded that the Pokukrom East deposit remains open at depth. The structural study recommends 1,280 metres of follow-up diamond drilling to further define and potentially extend mineralisation. Investors may be watching for geophysical interpretation results and assay returns across all three active programmes before year-end.

Key Points

  • Pelangio Exploration Inc. (TSXV: PX) (OTC Pink: PGXPF) is a Toronto-based gold explorer operating in Ghana
  • CSEM surveys covering 2.8 km² at Manfo and 9.2 km² at Obuasi are now complete; datasets are being processed in Sweden with results expected by year-end
  • Diamond drilling at Dankran is underway — six holes totalling 800 metres planned, following a 2021 programme that returned up to 3 metres of 14.17 g/t Au
  • Investors should watch for CSEM interpretation results, Dankran assays, and TuNya RC assay results, all anticipated by year-end

CSEM Surveys Across Manfo and Obuasi Designed to Detect Targets Up to One Kilometre Deep

The 2.8 km² Manfo CSEM survey, comprising 100 stations, was completed in mid-September 2026, while the larger 9.2 km² Obuasi survey, covering 295 stations, was completed on November 5, 2026. SEMS Exploration Services of Ghana conducted both surveys, which are designed to detect mineral targets at depths of one kilometre or more. The datasets have been sent to Sweden for processing, including three-dimensional inversion and interpretation. The company states that results are expected by year-end and that both surveys are anticipated to identify electromagnetic targets suggesting possible mineralisation at depth.

Structural Study Identifies Pokukrom East as a Disseminated Stockwork Deposit Open at Depth

A one-week litho-structural study conducted by structural geologist Dr. Ghislain Tourigny of SEMS Technical Services concluded that the Pokukrom East deposit remains open down-plunge to the northeast and warrants further deep drilling. The study characterised the deposit as a disseminated stockwork-type gold system, potentially a hybrid deposit displaying characteristics of intrusion-hosted mineralisation overprinted by a later orogenic quartz-veining event. Dr. Tourigny's report recommends 1,280 metres of diamond drilling to target the down-plunge extension of a high-grade zone in drill hole SPDD26-008, which returned 26 metres at 2.99 g/t Au, including 6 metres at 11.74 g/t Au.

Dankran Diamond Drilling Follows High-Grade 2021 RC Results Along Ashanti Belt Contact

The Dankran diamond drilling programme — six holes totalling 800 metres — is now underway and is expected to take approximately four to six weeks to complete, with assays anticipated by year-end. The programme follows Pelangio's 2021 maiden RC programme, which returned up to 3 metres of 14.17 g/t Au and 2 metres of 6.02 g/t Au. Previous work delineated a 2.5-kilometre-long target along the principal Ashanti Belt volcanic-sedimentary contact, situated 2 to 4.5 kilometres southwest of the historical Obuom Mine, which produced approximately 30,000 ounces of gold at grades exceeding 15 g/t Au.

TuNya Exceeds RC Drilling Commitment on Obuasi Earn-In, Assays Pending

Partner TuNya Mineral Resources completed its RC drilling programme on September 16, 2026, drilling 2,281 metres across 36 holes — exceeding its 2,000-metre earn-in commitment on the southern Tarkwaian portion of Pelangio's Obuasi property. TuNya is earning an 80% interest in this portion of the property. Drilling encountered mafic volcanics and intrusives with local silicification, quartz veining, and disseminated pyrite. Assay results remain pending. Kevin Thomson, P.Geo., Senior Vice-President Exploration and Director, is the qualified person who approved the technical disclosure in this announcement.