During the second quarter of 2011, Pelangio commissioned SRK Consulting (Canada) Inc. ("SRK") to visit the property, review available geological and exploration data to assess its merit and to prepare the Report in compliance with NI 43-101.

The Report summarizes the technical information available on the Manfo Project to June 30, 2011 and demonstrates that the project has advanced beyond an early stage exploration project. The Report notes that exploration work completed to date by Pelangio has defined economically interesting gold mineralization with reasonable continuity in three dimensions.

The Report has been filed and is available under Pelangio's profile at www.sedar.com or on Pelangio's website via the following link:

http://www.pelangio.com/Projects/Technical-Reports.aspx

The exploration program at the Manfo Property is overseen by Warren Bates, P. Geo. (Ontario), the Company's Senior Vice President Exploration and a Qualified Person within the meaning of NI 43-101. Mr. Bates has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information. The Report was prepared by Robert Blair Hrabi, P.Geo (APGO#1723), an appropriate independent qualified person for the purposes of NI 43-101.

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. Drilling is currently underway on two 100%-owned camp-sized properties: the company-making 100 km2 Manfo Property, the site of four recent near-surface, high grade and bulk tonnage, gold discoveries, and the potentially game-changing 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.

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