Pelangio Exploration Announces $520,000 Private Placement Financing

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES.


Pelangio Exploration Inc. (TSX VENTURE:PX)(OTCQB:PGXPF) ("Pelangio" or the
"Company") announces a non-brokered Private Placement of up to 8,000,000 common
shares of the Company at a price of $0.065 per share for gross proceeds of up to
$520,000. The proceeds will be used for continued exploration at our Ghana
properties and general working capital purposes. Further to our news release
dated August 13, 2013, a small drill program commenced at the Manfo property to
commission the low environmental impact Grasshopper drill rig that Pelangio
arranged to have imported to Ghana.


The Company may pay a finder's fee of up to 7% to certain introducing parties on
some of the proceeds in respect of the Private Placement, subject to compliance
with applicable securities legislation and TSX Venture policies. The closing
date of the Offering is expected to occur on or about October 17, 2013 and is
subject to receipt of all necessary regulatory approvals, including the TSX
Venture Exchange. The common shares issued pursuant to the private placement
will be subject to a four month hold period in accordance with applicable
Canadian securities laws. Certain directors and/or officers are expected to
participate for a total of up to 2,000,000 shares.


This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the securities in any
jurisdictions in which such offer, solicitation or sale would be unlawful. Any
offering made will be pursuant to available prospectus exemptions and restricted
to persons to whom the securities may be sold in accordance with the laws of
such jurisdictions and by persons permitted to sell the securities in accordance
with the laws of such jurisdictions.


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. The Company is
exploring three 100%-owned camp-sized properties: the 100 km2 Manfo Property,
the site of seven recent near-surface gold discoveries, the 290 km2 Obuasi
Property, and the early-stage 160 km2 Akroma Property. 


For additional information, please visit our website at www.pelangio.com or
follow us on Twitter @PelangioEx.


Forward Looking Statements 

Certain statements herein may contain forward-looking statements and
forward-looking information within the meaning of applicable securities laws.
Forward-looking statements or information appear in a number of places and can
be identified by the use of words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate" or "believes" or variations of
such words and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements and information include statements regarding the
private placement, the proposed use of proceeds and the Company's exploration
plans and drill program. With respect to forward-looking statements and
information contained herein, we have made numerous assumptions, including
assumptions about our ability to close the private placement, and the state of
the equity markets. Such forward-looking statements and information are subject
to risks, uncertainties and other factors which may cause the Company's actual
results, performance or achievements, or industry results, to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statement or information. Such risks include the
ability of the Company to meet the conditions of closing, changes in equity
markets, share price volatility, volatility of global and local economic
climate, gold price volatility, political developments in Ghana, increases in
costs, exchange rate fluctuations, speculative nature of gold exploration and
other risks involved in the gold exploration industry. See the Company's annual
information form and annual and quarterly financial statements and management's
discussion and analysis for additional information on risks and uncertainties
relating to the forward-looking statement and information. There can be no
assurance that a forward-looking statement or information referenced herein will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements or information. Also, many
of the factors are beyond the control of the Company. Accordingly, readers
should not place undue reliance on forward-looking statements or information. We
undertake no obligation to reissue or update any forward-looking statements or
information except as required by law. All forward-looking statements and
information herein are qualified by this cautionary statement. 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pelangio Exploration Inc.
Ingrid Hibbard
President & CEO
905-875-3828 or Toll-free: 1-877-746-1632
905-875-3829 (FAX)


Pelangio Exploration Inc.
Warren Bates
Senior Vice President Exploration
905-875-3828 or Toll-free: 1-877-746-1632
905-875-3829 (FAX)
info@pelangio.com
www.pelangio.com
Pelangio Exploration (TSXV:PX)
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