Pelangio Exploration Inc. · TSXV:PX
Pelangio Exploration — Beaver Creek 2025
40 slides from Pelangio Exploration's conference presentation, September 2025
Slide 1: Exploration Success in Ghana's Premier Gold Regions
Pelangio Exploration Inc. Exploration Success in Ghana’s Premier Gold Regions TSXV: PX Beaver Creek 2025
Slide 2: Disclaimer
DISCLAIMER CAUTIONARY NOTE REGARDING MINERAL RESOURCE ESTIMATES Investors should not assume that any of the indicated or inferred resource disclosed herein will ever be analysis and opinions of management made in light of its experience and perception of trends, current upgraded to a higher category
Slide 3: Proven Discoverers Positioned for Growth
PROVEN DISCOVERERS POSITIONED FOR GROWTH Pelangio Exploration Inc. is committed to advancing world-class gold projects with a strategic focus on growing our gold resource. By leveraging our extensive experience in exploration and our deep understanding of the geological landscape, we aim to deliver
Slide 4: Location, Location, Location: Strategic Gold Projects
‘LOCATION, LOCATION, LOCATION’ STRATEGIC GOLD PROJECTS GHANA, West Africa Manfo-Nkosuo: 2025 updated gold mineral resource 441,000 oz Indicated & 396,000 oz Inferred*, Located on the Sefwi-Bibiani Belt, 15 km from Newmont’s 26+ M oz** Ahafo Mine Obuasi + Dankran: High-grade gold intercepts ADJACENT
Slide 5: Gold: A Safe Bet in Uncertain Times
GOLD: A SAFE BET IN UNCERTAIN TIMES Global Realignment Central banks are increasing gold reserves amid de-dollarisation and geopolitical shifts. Inflation Persistent inflation and negative real rates erode fiat value—gold remains a reliable hedge. Adds Portfolio Stability Gold is under-owned relativ
Slide 6: Resurgence of Mining Investment in Ghana
RESURGENCE OF MINING INVESTMENT IN GHANA PX:TSX-V PX:TSX-V 6
Slide 7: From Gold to Glory — Ghana Shines
FROM GOLD TO GLORY — GHANA SHINES Attractive Jurisdiction for Mining Investment • With 141 tonnes produced in 2024, Ghana is the largest gold producing country in Africa and 6 th largest in the world.¹ • Ghana offers a politically stable and secure environment for mining investment • US$973 million
Slide 8: Why Pelangio? The Value Proposition - Projects
WHY PELANGIO? The Value Proposition -Projects Manfo: Mineral Resource Estimate (‘MRE”) Update August 2025: 441,000 oz Indicated and 396,000 Inferred Significant multi-phase exploration program recommended to expand the resource and planned to start in Q4 Nkosuo Mining Lease Option: Adjoins Manfo and
Slide 9: Manfo – August 2025 Updated MRE
MANFO – AUGUST 2025 UPDATED MRE (441,000 OZ AU @ 1.16 G/T INDICATED + 396,000 OZ AU @ 0.77 G/T INFERRED (AUG 2025) Manfo MRE Update (August 2025) Manfo Updated Mineral Resource Estimation, August 20, 2025 • The 2025 MRE update for the Manfo gold deposits returned 441,000 oz @ 1.16 g/t Au Indicated +
Slide 10: Pelangio Undervalued vs. W. African Peers
PELANGIO UNDERVALUED VS. W. AFRICAN PEERS
Slide 11: The Pelangio Proven Strategy for Gold Exploration Success
THE PELANGIO PROVEN STRATEGY FOR GOLD EXPLORATION SUCCESS Exploration Strategy Parameters Pelangio targets proven gold producing regions with strong geology and large, under-explored land packages in mining- friendly jurisdictions with a long gold mining history and significant local expertise. Adva
Slide 12: Exploration Success
EXPLORATION SUCCESS Pelangio re-envisioned the Detour deposit in Ontario Canada as an open-pit The asset spun out to Detour Gold for 50% equity interest VALUE INCREASE FROM $3.50 @ IPO TO $38.00 IN 2011 Manfo – eight discoveries along 9 km of structure and a maiden gold mineral resource Manfo - MRE
Slide 13: Meet Our Team
MEET OUR TEAM Ingrid Hibbard, LL.B. Donna McLean Kevin Thomson, P.Geo. Sam Torkornoo P.Geo. PRESIDENT & CEO CFO Senior V.P. Exploration VP Africa Ingrid Hibbard is a seasoned mining Ms. McLean brings over 30 years of Mr. Thomson is a senior mining Sam Torkornoo has 22 years of professional with 35 y
Slide 14: Pelangio's Management and Market Stats
PELANGIO’S MANAGEMENT AND MARKET STATS Trading Directors Management PX:TSX-V & PGXPF:OTCPINK Experience and Track Record - Diversified Talent for Success Sam Torkornoo, VP Africa Warrants Ingrid Hibbard, President & CEO 35Cap. $31M Market Options 7.7 Donna McLean, Chief Financial Officer JC St-Amour
Slide 15: Ghanaian Projects
GHANAIAN PROJECTS ~ WORLD CLASS OPPORTUNITIES ~ • Obuasi 280 km2 on the Ashanti Belt • Dankran 35 km2 on the Ashanti Belt • Manfo-Nkosuo 121 km2 on the Sefwi Belt 15
Slide 16: Ghanaian Projects – 436 km²
GHANAIAN PROJECTS – 436 KM² ON THE ASHANTI & SEFWI-BIBIANI BELTS Manfo - Nkosuo Obuasi & Dankran The 121 km² Manfo – Nkosuo Project is in the The 315 km² Obuasi and Dankran Exploration Sefwi-Bibiani Belts, where: Projects are in the Ashanti Belt adjacent to AngloGold Ashanti’s Obuasi Mine, which: •
Slide 17: Well-Located Manfo-Nkosuo, Obuasi and Dankran
WELL- LOCATED MANFO-NKOSUO, OBUASI AND DANKAN Located in the ‘big belts’ of SW Ghana • The Manfo-Nkosuo and Obuasi + Dankran projects are located in the two most gold-endowed belts of SW Ghana, with > 150 Moz past-production + current resources. • Manfo-Nkosuo (121 km²) is located in the Sefwi- Bibi
Slide 18: Manfo-Nkosuo Project, Sefwi Belt
MANFO-NKOSUO PROJECT, SEFWI BELT Manfo-Nkosuo Project – 121 km² • The Manfo-Nkosuo Project sits in the Sefwi-Bibiani Belt located south of Newmont’s 26 Moz* Ahafo Mine, situated 15 km south-southeast of the >10 Moz Subika deposit in similar granitoid intrusive rocks. • Pelangio has been exploring th
Slide 19: Manfo – Pelangio's Flagship Property
MANFO – PELANGIO’S FLAGSHIP PROPERTY (441,000 OZ AU @ 1.16 G/T INDICATED + 396,000 OZ AU @ 0.77 G/T INFERRED (AUG 2025) Manfo MRE Update (August 2025) • An updated Mineral Resource Estimate was completed for the Manfo gold deposits by SEMS Technical Services of Ghana and announced on August 20, 2025
Slide 20: Manfo – August 2025 Updated MRE
MANFO – AUGUST 2025 UPDATED MRE (441,000 OZ AU @ 1.16 G/T INDICATED + 396,000 OZ AU @ 0.77 G/T INFERRED (AUG 2025) Manfo MRE Update (August 2025) Manfo Updated Mineral Resource Estimation, August 20, 2025 • The 2025 MRE update for the Manfo gold deposits returned 441,000 oz @ 1.16 g/t Au Indicated +
Slide 21: Manfo – August 2025 Updated MRE
MANFO – AUGUST 2025 UPDATED MRE (441,000 OZ AU @ 1.16 G/T INDICATED + 396,000 OZ AU @ 0.77 G/T INFERRED (AUG 2025) Manfo MRE Update by Deposit • The Manfo Mineral Resource Estimate is contained in four deposits: Pokukrom East and West are within 500- meters of each other and together comprise 86% of
Slide 22: Manfo – August 2025 Updated MRE
MANFO – AUGUST 2025 UPDATED MRE (441,000 OZ AU @ 1.16 G/T INDICATED + 396,000 OZ AU @ 0.77 G/T INFERRED (AUG 2025) Cut-off Grade Sensitivity Sensitivity of the Gold Cut-off grade on the Block Model Gold Content* • At a range of gold cut-off grades, the Manfo block model gold content increases from 3
Slide 23: Manfo Resource Expansion Potential
MANFO RESOURCE EXPANSION POTENTIAL Pokukrom East Deposit • There is considerable potential to extend the Pokukrom East deposit which is open down-plunge to the north and down-dip at the shallow southern end. In addition, the southern and northern ends of the $2,600 Au pit are undrilled. • Resource e
Slide 24: Manfo Resource Expansion Potential
MANFO RESOURCE EXPANSION POTENTIAL Pokukrom East Deposit • A first pass resource step-out drill program is planned to demonstrate continued down-dip extension of the shallow southern end of the deposit plus test for down-plunge extensions of the northern end. • One deep hole will test to see if the
Slide 25: Manfo Resource Expansion Potential
MANFO RESOURCE EXPANSION POTENTIAL Pokukrom West Deposit • Small drilling programs around the Pokukrom West deposit in 2021 and 2023 demonstrated that the deposit remains open at shallow depth to the south and continues down-plunge to the north. • Further drilling to the south is planned which could
Slide 26: Manfo Resource Expansion Potential
MANFO RESOURCE EXPANSION POTENTIAL Nkansu and Nfante West Deposits • The relatively small Nkansu and Nfante West deposits, both entirely Inferred resource status, are both likely closed off to the northeast but are open at depth and to the southwest. • Infill drilling of the Nkansu deposit will conv
Slide 27: Manfo Resource Expansion Potential
MANFO RESOURCE EXPANSION POTENTIAL Nkansu and Nfante West Deposits • The relatively small Nkansu and Nfante West deposits, both entirely Inferred resource status, are both likely closed off to the northeast but are open at depth and to the southwest. • Infill drilling of the Nkansu deposit will conv
Slide 28: Nkosuo Mining Lease Option
NKOSUO MINING LEASE OPTION Nkosuo Mining Lease – 18.7 km² • In February of 2025 Pelangio signed an agreement to option up to 83% of the 12-year (renewable) Nkosuo Mining Lease from FJ Minerals of Ghana. • Two complimentary agreements signed include Ghanaian company Nathawo Properties' option to earn
Slide 29: Nkosuo Mining Lease
NKOSUO MINING LEASE Nkosuo – Multiple Mineralized Structures • Limited historical work on the Nkosuo Lease by Ashanti Goldfields in 2005 returned up to 37m @ 5.6 g/t Au in a trench plus RC drilling including 37m @ 1.5 g/t and 34m @ 1.0 g/t Au along the interpreted strike extension of the Pokukrom-Nf
Slide 30: Manfo-Nkosuo Exploration Potential
MANFO-NKOSUO EXPLORATION POTENTIAL Nkosuo – Multiple Mineralized Structures • The combined Manfo and Nkosuo properties contain multiple opportunities for exploration and discovery which could add significantly to the project resource. • Most of the exploration targets on Manfo are of lower priority
Slide 31: Manfo-Nkosuo Exploration Programs
MANFO-NKOSUO EXPLORATION PROGRAMS Drone Surveys & Soil Geochemistry • The near-term exploration focus on Manfo-Nkosuo will be on the Nkosuo Mining Lease where the potential for significant new discoveries is believed to be the greatest. • A 900 line-km drone magnetics survey has just been completed
Slide 32: Nkosuo Exploration
NKOSUO EXPLORATION Nkosuo – high potential, unexplored • Given the indications of multiple mineralized structures as shown by Ashanti’s limited exploration work and the extents of artisanal mining seen in satellite imagery and confirmed on the ground, the Nkosuo Lease is believed to hold potential f
Slide 33: Manfo Exploration Drilling
MANFO EXPLORATION DRILLING Air-core Exploration Drilling Program • An air-core exploration drilling program was planned in 2023 to test targets at Manfo but was not initiated, and with Nkosuo now becoming the exploration focus the exploration program for Manfo becomes lower priority. • This drilling
Slide 34: Manfo – Nkosuo Exploration Budget
MANFO – NKOSUO EXPLORATION BUDGET Recommended Exploration Budget • Resource extension and exploration drilling programs were recommended by SEMS Technical Services in their NI43-101 report on the Manfo MRE update which could result in substantial growth of the project’s total resource if successful.
Slide 35: Ashanti Belt – Obuasi and Dankran Projects
ASHANTI BELT – OBUASI AND DANKRAN PROJECTS Obuasi & Dankran Projects – 315 km² • Contiguous properties, 100% held by Pelangio, 30 km of strike of the highly gold-endowed Ashanti Belt, adjacent to and on strike with the 60 Moz Obuasi Mine operated by Anglogold-Ashanti and book- ended by the small, hi
Slide 36: Obuasi Property – 280 km² Next Door to 60 Moz
OBUASI PROPERTY – 280 KM² NEXT DOOR TO 60 MOZ* Obuasi Project, targeting high-grade Au VTEM Survey EMZ dBdt Ch. 15 • Pelangio’s Obuasi property covers the interpreted strike extensions of the Obuasi Main and Gyabansu gold trends. Obuasi Main, which hosts most of the gold at the Obuasi Mine strikes t
Slide 37: TuNya Earn-In Option on the Obuasi Property
TUNYA EARN-IN OPTION ON THE OBUASI PROPERTY TuNya Agreement, Technical Study • Pelangio LOI granting TuNya Mineral Resources the right to earn an 80% interest in the southern portion of the Obuasi Property covering Tarkwaian stratigraphy and the strike extension of TuNya’s Kyereboso deposit • TuNya’
Slide 38: TuNya Earn-In Option on the Obuasi Property
TUNYA EARN-IN OPTION ON THE OBUASI PROPERTY TuNya Agreement, Technical Study • TuNya’s data and field work studies of Pelangio’s Obuasi property have identified the Obuasi Targets area along strike from the Obuasi Mine as being the most prospective area of the property. • TuNya conducted a 392 line-
Slide 39: Dankran Property
DANKRAN PROPERTY Dankran High-grade Gold Potential Obuom Mine (> 0.5 opt) • The Dankran property, contiguous to Pelangio’s Obuasi property, provides an additional 35 km² area and 7 km of strike of under-explored and prospective Ashanti belt geology next door to the small, high-grade historical Obuom
Slide 40: Thank You
eee EE i ——— wz Thank You ir@pelangio.com