Pelangio Exploration Appoints Vice-President, Corporate Affairs and Corporate Secretary and Grants Stock Options

Rhea-AI Summary

Pelangio Exploration (TSXV: PX / OTC: PGXPF) granted 5,750,000 incentive stock options at an exercise price of $0.205 per share, with a 10-year term expiring January 30, 2036. The Board approved grants to directors, officers, employees and consultants.

Effective immediately, Matthew Lilko is appointed Vice-President, Corporate Affairs and Corporate Secretary; he has been with Pelangio since 2018, holds a PhD, and serves as a director of MINK Ventures Corp.

Positive

• 5,750,000 options granted to align management and staff incentives
• 10-year term provides long-term retention through January 30, 2036
• Appointment of Matthew Lilko strengthens corporate affairs and governance

Negative

• Potential dilution if 5,750,000 options are exercised at $0.205
• Exercise price of $0.205 could dilute existing shareholders if in-the-money

Toronto, Ontario--(Newsfile Corp. - January 30, 2026) - Pelangio Exploration Inc. (TSXV: PX) (OTC PINK: PGXPF) ("Pelangio" or the "Company") today announced that the Board of Directors has approved the grant of 5,750,000 incentive stock options to certain directors, officers, employees and consultants of the Company. The stock options are exercisable into common shares of the Company at a price of $0.205 per share. Subject to the rules of the TSX Venture Exchange and the Company's Stock Option Plan, the options have a term of 10 years and will expire on January 30, 2036.

The Company also announces that effective immediately Matthew Lilko is appointed Vice-President, Corporate Affairs and Corporate Secretary. Mr. Lilko has been with Pelangio Exploration since 2018 and is experienced in applying risk analysis to capital markets and commodity projects. Mr. Lilko holds a PhD from Trent University and an MA from Western University. Mr. Lilko is also a director of MINK Ventures Corp.

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

About Pelangio

Pelangio acquires and explores prospective land packages located in gold belts in Ghana, West Africa and Canada. In Ghana, the Company is exploring its two 100% owned camp-sized properties: the 100 km² Manfo property, the site of eight near-surface gold discoveries, and the 284 km² Obuasi property, located 4 km on strike and adjacent to AngloGold Ashanti's prolific high-grade Obuasi Mine, as well as the Dankran property located adjacent to its Obuasi property.

For additional information, please visit our website at www.pelangio.com, or contact:

Ingrid Hibbard, President and CEO

T: 905-336-3828 // E: info@pelangio.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282251

FAQ

What stock options did Pelangio (PGXPF) grant on January 30, 2026?

According to the company, Pelangio granted 5,750,000 incentive stock options exercisable at $0.205 per share. The options have a 10-year term and expire on January 30, 2036.

How could the Pelangio (PX / PGXPF) option grant affect shareholders?

The direct effect is potential dilution if options are exercised at $0.205. According to the company, dilution depends on exercise decisions and existing share count, which determines ultimate shareholder impact.

Who is Matthew Lilko and what is his role at Pelangio (PGXPF)?

According to the company, Matthew Lilko is appointed Vice-President, Corporate Affairs and Corporate Secretary effective immediately. He joined Pelangio in 2018 and holds a PhD and an MA.

When do Pelangio's (PGXPF) newly granted stock options expire?

According to the company, the granted options have a 10-year term and expire on January 30, 2036. They are subject to TSX Venture Exchange rules and the company's Stock Option Plan.

What is the exercise price and who received the Pelangio (PX) options?

According to the company, the options are exercisable at $0.205 per share and were granted to certain directors, officers, employees and consultants under the company's Stock Option Plan.