Pelangio Exploration Inc. · TSXV:PX
Pelangio Exploration — Pelangio Mines — Shareholder Meeting (May 2006)
40 slides from Pelangio Exploration's shareholder meeting presentation, May 2006
Slide 1: 2006 Annual Meeting: Exceeding Expectations
2006 Annual Meeting Exceeding Expectations Pelangio Mines Inc.
Slide 2: 2005 Achievements
2005 Achievements • Listing: TSX, symbol “PLG” • Resource Estimate: 159,000 oz Indicated and 1,728,000 Inferred (NI 43-101) • Exploration Success: Detour Lake • 2005 – We set and met our goals … and we • Exceeded Expectations: Acquired Obuasi Property
Slide 3: Share Performance
ie PLG = VALUE Historic Chart for Cdn:PLG by Stockwatch.com 604.687.1500 - (c) 2006 Tue May 2 2006 Op=1.10 Hie 1.24 Lo=1.10 C117 Vole466 224 Year hig 1.24 lo=0.30 Cdn:PLG Volume May Jul Aug Sep Oct Nov Dec dan 2005
Slide 4: Accelerating the Momentum
Accelerating the Momentum • Continuing successful exploration on our Detour property • Beginning exploration at our Obuasi property – Three phase $2 million program • Phase one underway ($500,000) – prospecting, trenching and geochem surveys • Phase two ($300,000) new airborne survey – Magnetic and
Slide 5: New Acquisition- Ghana Ashanti Belt Obuasi Mine Area
New Acquisition- Ghana Ashanti Belt Obuasi Mine Area
Slide 6: Property Location Adjacent to AngoGold Ashanti
Property Location Adjacent to AngoGold Ashanti
Slide 7: Pelangio Obuasi Property
Pelangio Obuasi Property • Four mineral concessions • 410.7 square km. block – Meduma and Kyereboso #2 and #3 make up 290 sq. km block at eastern border of AngloGold Ashanti’s Obuasi Mine Property – New Edubiasi (120.7 sq. km.) located 3 km. south
Slide 8: Ghana: A Rich Mining History
Ghana A Rich Mining History • 300 years of mining • Anglogold’s Obuasi Mine producing since 1898 • Well developed mining law and land title system • Stable government and economy
Slide 9: Regional Geology of Ghana
PLG = VALUE 6°30" & 5 530" Obotan ae Bogoso, restea' lees Tarkwa “2° Ashanti-Obuasi: Bekwai, ‘ Scale. 4:1250000 Projection: Longitude /Lattude (AGD 84 thor: JF Couture wing: JF Couture 0 15 30 km | ee —_——— x T Konongo. Akyem 3 °30" Gold Deposit Voltaian Granitoid rocks Mafic intrusives Tarkwaian me
Slide 10: PLG = VALUE
ie PLG = VALUE TREND EXTENSION Meduma (65.0 sq. km) Anglogold Ashanti-Obuasi Mine L Anglogold Ashanti Gold Obuasi Mine Property Kyereboso #2 (145.6 sq. km) <> o Gyabunsu Trend Extension PELANGIO OBUASI PROPERTY PROJECTED OBUASI MAIN MINE Eastern Gyabunsu Trend Extension @ @ SEMS Extension New Edubia
Slide 11: Terms of Agreement
Terms of Agreement • Land packages from three local vendors • PLG has right to acquire 100% interest – US $3.8 million & 16 million shares over 5 years • 2% NSR • Regulatory approval in Ghana and Canada received
Slide 12: Technical Report on Four Gold Exploration Concessions, Obuasi
ie PLG = VALUE Pelangio Mines Inc. mes Inc. Technical Report on Four Gold Exploration Concessions, Obuasi Region, Ghana Report Prepared for Report Prepared by = SRK Consulting
Slide 13: Trend Locations Adjacent to AngoGold Ashanti
Trend Locations Adjacent to AngoGold Ashanti
Slide 14: SRK Due Diligence Kyeroboso Adit
SRK Due Diligence Kyeroboso Adit
Slide 15: SRK Due Diligence – Visit Old Randgold Trenches
SRK Due Diligence – Visit Old Randgold Trenches Aea of 2005 Winter work
Slide 16: Obuasi Property Work Program
Obuasi Property Work Program
Slide 17: Obuasi Property Work Program – Trenching
Obuasi Property Work Program – Trenching
Slide 18: Obuasi Work Program Three Water Wells
Obuasi Work Program Three Water Wells
Slide 19: Community Relations
Community Relations
Slide 20: wi = a <= > " oO a _
wi = a <= > " oO a _
Slide 21: Pelangio Technical Team
Pelangio Technical Team • Kevin Filo, P.Geo., Senior Geologist – 24 years experience in gold and base metals exploration • Fred Sharpley, P.Geo., Geologist – 35 years experience in mineral exploration • Chris Pegg, Geologist – 29 years experience in mineral exploration • Eric Kallio, P.Geo., Senior
Slide 22: Pelangio Technical Expertise (cont'd)
Pelangio Technical Expertise (cont-d) • High River Strategic Alliance – Managing exploration at Detour Lake; company team with development and mining expertise. – Owns 19% equity interest • Driff Cameron, P.Geo., VP Exploration, High River – Over 30 years exploration experience – Had significant rol
Slide 23: Detour Mine Property 100% Controlled
Detour Mine Property 100% Controlled • Gold resources – 159,797 Indicated – 1,728,042 Inferred • 1,700,000 oz. of gold produced • 10,000 m. of drilling by Pelangio in 2004 • 15,000 m. of drilling by Pelangio in 2005 • 12,000 m of drilling by Pelangio in 2006
Slide 24: Detour Mine Property Resource Estimate Summary
Detour Mine Property Resource Estimate Summary Location Indicated Inferred Tonnes Grade Ounces Tonnes Grade Ounces g Au/t g Au/t Surface 2,479,658 2.00 159,797 15,292,459 1.73 849,449 to 250m Deep 8,101,246 3.37 878,593 (250 to 800m) Total 2,479,658 2.00 159,797 23,393,705 2.29 1,728,042
Slide 25: New Resource Calculation
New Resource Calculation • Completed by Eric Kallio P Geo • Based on concept – combined open pit and underground scenario • Replaces pre 43-101 historical resource estimate by Placer Dome at end of mine life had 1,587,282 oz Gold located in 14 different zones • New concept was to focus on the more e
Slide 26: Slide 26
Slide 27: 2005 - 2006 Drilling
2005 - 2006 Drilling PLG = VALUE Low - - = . ry . cLM 229 i Hy H i 3 6% H pen | Ab ; Sine 7 phe =~ — “Dees 3 \ a 7 18980 E ae } : Mee = 5 CLM 231 rar pie ? bd ae = aan ° of Ti . a ° ° aK @ ° ° I (‘zone |) vA : LEGEND Gi: retsicnTeRMEDIATE INTRUSIVE ROCK Tl 10 anc TorenMeDiATe INTRUSIVE TB © oneissic
Slide 28: New Gold Discovery: North Walter Lake
New Gold Discovery: North Walter Lake • Pelangio exploration strategy results in first successful discovery at Detour Lake since 1996 • Similar to M Zone • Holes planned on 40 m. step-outs • Evidence of mining camp
Slide 29: Mine Property M Zone Extension Footwall Drill Highlights
Mine Property M Zone Extension Footwall Drill Highlights Section Hole No. Metric Results Imperial Results 17900E PMDDH-053 4.66 g/t gold over 1.10 m. 0.136 oz./ ton gold over 3.61 ft. including 6.88 g/t gold over 0.70 m. 0.201 oz./ ton gold over 2.30 ft. 17700E PMDDH-054 7.26 g/t gold over 3.0 m. 0.
Slide 30: Pelangio Mine Property Calcite Zone West-2005 Highlighted Drill Results
Pelangio Mine Property Calcite Zone West-2005 Highlighted Drill Results Section Hole No. Metric Results Imperial Results 18020E PM-64 2.73 g/t gold over 6.0 m. 0.08 oz./t gold over 19.69 ft. 17860E PM-67 26.66 g/t gold over 2.0 m. 0.78 oz./t gold over 6.56 ft. PM-67 53.00 g/t gold over 1.0 m. 1.55 o
Slide 31: West Pit Drilling
West Pit Drilling PLG = VALUE w w w wi € € & E 8 8 8 8 120500 mN. Ee E} a g Historic Open Pit: Production (1983-88) VOLCANICS. High Grade: 2.9 million tonnes, 3.25q/t (313,070 oz) Low Grade: 1.6 million tonnes, 1.42g/t (70,652 oz) Total : 4.5 million tonnes, 2.619/t (383,722 oz) Strip Ratio: 4.5:1 (
Slide 32: West Pit Drilling
West Pit Drilling r PLG = VALUE Metric Results Imperial Results Hole No. | Location Grade Length Grade Length Zone g Aw't (m) oz. Awt (ft) 19100E 3.43 $35 0.158 11.0 MFQ2 19960N including 22.56 5 0.658 1.6 11 specks vg PM-104 and 10.66 0.311 1.6 3 specks vg 126.30 3.684 75 MFQ? including 574.15 16.7
Slide 33: Block A Exploration Focus
Block A Exploration Focus • Over 20,000 m. of drilling in 2004 focused on the M Zone Gold Deposit • 30,000 m. of drilling in 2005 • 13,500 m of drilling in winter 2006 (59 holes)
Slide 34: M Zone -2005 Near Surface Highlighted Drill Results
M Zone -2005 Near Surface Highlighted Drill Results Section Hole No. Metric Results Imperial Results 15400E TWDDH-41 20.88 g/t gold over 9.7 m. 0.61 oz./t gold over 31.82 ft. 15400E TWDDH-42 16.86 g/t gold over 2.41 m. 0.49 oz./t gold over 7.91 ft. 15700E TWDDH-47 4.40 g/t gold over 6.0 m. 0.13 oz./
Slide 35: M Zone Length 3.6 km Height 450 m
M Zone Length 3.6 km Height 450 m The M Zone appears to be longer, with a greater vertical extent and with a higher indicated grade when compared to the Detour Mine Zone. Area of 2005 Winter work
Slide 36: Block A Drilling - 2006
Block A Drilling - 2006 PLG = VALUE } 6100m 49.80 0.55 \ } 28.70 4 \ 0.50 *% \ y 4 \ ai 1 J q \ q } . 1 y } \ fee [TRADE WINDS VENTURES INC DETOUR LAKE PROJECT M ZONE SCHEMATIC SECTION 16740E
Slide 37: Block A: Results and Goals
Block A: Results and Goals • 50,000 m. drilled by end of 2005 • 1,000 m. by 400 m. mineralized zone with most drill holes having 1/4 oz. to 1/2 oz. intersections • Infill drilling to define continuity of the zone • Winter 2006: 15,000 m. of drilling on and adjacent to the near surface resource • Ant
Slide 38: Pelangio Mines Inc.
Pelangio Mines Inc. • Listing: TSX, symbol “PLG” • Shares: 64,900,000 issued • Share Price: 52 week high/low: $1.24/0.30 • Directors: Ingrid Hibbard, LLB., President of Pelangio David Mosher, B.Sc., President of High River Philip Olson, M.Sc., President, Titan Uranium Carl Nurmi, C.A., Owner Clarke
Slide 39: Corporate Strategy
Corporate Strategy • Exploration and evaluation of Pelangio Obuasi Property • Drilling to evaluate known high grade zones at Detour Lake • Drilling to explore for the extension of the near-surface West Pit and Calcite zones that have open pit potential • Joint ventures at Detour Lake
Slide 40: PLG:TSX
Imagine 210 square kilometres in Timmins, Canada in 1906 … perhaps Detour Lake 2006 Now Imagine 410 square kilometres adjacent to AngolGold’s Obuasi Mine, Ghana Imagine the possiblities…… PLG:TSX