PX Pelangio Exploration Inc

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") is pleased to announce the closing of its previously announced
private placement (the "Private Placement") of 10,000,000 common shares (the
"Shares") at a price of $0.065 per share for gross proceeds of $650,000. 


The Private Placement is subject to receipt of all necessary regulatory
approvals. The common shares issued pursuant to the Private Placement will be
subject to a four month hold in accordance with applicable Canadian securities
laws and will not become freely tradeable before December 23, 2013. Directors
are participating for a total of 2,000,000 shares.


The Company will pay a finder's fee of 7.5% for proceeds of $39,000 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. 


Pelangio intends to use the proceeds for continued exploration for our Ghana
properties and general working capital purposes. 


The Securities being offered have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States or to, or for the account or benefit of, U.S. persons
absent registration or an applicable exemption from registration requirements.
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. With respect to forward-looking statements and information contained
herein, we have made numerous assumptions, including assumptions about receipt
of all necessary regulatory approvals, 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


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

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