Viably Launches the Komptech Lacero Horizontal Grinder Built for the North American Waste Industry

Viably, the North American master distributor of Komptech equipment has introduced the Lacero horizontal grinder. This high-speed wood waste grinding machine is a significant addition to the company’s innovative product line and is engineered to address the stringent requirements of the North American waste and recycling industry.

DENVER, CO / ACCESSWIRE / January 31, 2024 / Viably (formerly Komptech Americas), a forward-thinking waste management solutions company, is proud to announce the launch of the Komptech Lacero high-speed, horizontal grinder. The Lacero is the newest addition to Viably’s product portfolio and was designed exclusively for the complex demands of the North American wood waste and organics recycling sector. The introduction of the Lacero reinforces Viably’s commitment to delivering advanced technologies and solutions that increase profitable resource recovery.

The Komptech Lacero horizontal Grinder processing wood waste.
The Komptech Lacero horizontal Grinder processing wood waste.

Komptech Lacero: Engineered for Efficiency

The Komptech Lacero fulfills the specialized needs of wood waste recyclers, mulch producers, logging and land clearing, and organics recycling companies. It is a robust machine that is precision-engineered and boasts a 41-inch diameter downswing drum powered by a CAT® C18 diesel engine and PT Tech clutch, providing up to 812 horsepower.

This tracked machine also has an optional 3-axle dolly system that allows for seamless on-road transport, making it flexible and functional. An integrated control system provides real-time diagnostics and a wireless remote control with a comprehensive machine status display for efficient use. The expansive feed hopper and innovative "Smart Grind" program control assure continuous and efficient material feed.

"The Viably team takes pride in being at the vanguard of delivering innovation to North America waste recyclers, and the Komptech Lacero stands testament to our aspirations," states Brandon Lapsys, President of Viably. "Working with the Komptech factory engineers to craft this machine reflects our commitment to excellence and our insights into the real-world needs of our clients on this continent. The Lacero is not just a product; it’s a pivotal tool reshaping the waste processing landscape."

Customer-Centric Innovations

With over a decade of expertise in waste management solutions, Viably has developed a strong position in the North American waste and recycling market. Renowned for premium quality and revolutionary performance, Viably’s equipment portfolio is a beacon of operational efficiency and sustainability, trusted by industry leaders across the continent. Companies seeking to enhance efficiency and drive their productivity forward in wood waste and organics recycling will find the Komptech Lacero to be an indispensable ally in operational success.

Conclusion

Learn more about the Komptech Lacero by visiting Viably’s Lacero product page.

Contact Information

John Morgan
Vice President of Marketing and Communications
hello@thinkviably.com
720.890.9090

SOURCE: Viably, LLC

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Generation Income Properties (NASDAQ: GIPR) Issues 2,794,597 Shares of Its Common Stock

TAMPA, FL / ACCESSWIRE / January 31, 2024 / Generation Income Properties, Inc. (NASDAQ:GIPR) ("GIP" or the "Company") issued 2,794,597 shares of its common stock in redemption of all 2,400,000 issued and outstanding shares of its Series A Preferred Stock (the "Redemption"). The shares of the Company’s common stock issued in the Redemption were issued to the sole former holder of the Company’s Series A Preferred Stock, Modiv Operating Partnership, L.P. ("Modiv OP"). The Company issued shares of its Series A Preferred Stock to Modiv OP in connection with its earlier disclosed portfolio acquisition from Modiv Industrial (NYSE:MDV) ("Modiv"). As previously announced by Modiv, on December 29, 2023, Modiv declared a stock distribution of the Company’s shares to be issued pursuant to the Redemption on the Modiv common stock and the Modiv OP Class C units issued and outstanding as of January 17, 2024, with an estimated distribution date of January 31, 2024.

"As a result of the distribution by Modiv, we are thrilled to welcome approximately 4,500 new Shareholders to GIPR and expand our investor base. I’d like to personally greet everyone that is now an owner of both Modiv Industrial and GIPR, and assure you that we are highly committed to being a valuable investment for you and your families. As our name suggests, we take our responsibility of carrying a generational outlook very seriously, and we look forward to continuing that legacy growth" said David Sobelman, CEO of GIPR.

About Generation Income Properties

Generation Income Properties, Inc., located in Tampa, Florida, is an internally managed real estate investment trust focused on acquiring and managing income-producing retail, industrial and office properties net leased to high-quality tenants in densely populated submarkets throughout the United States. Additional information about Generation Income Properties, Inc. can be found at the Company’s corporate website: www.gipreit.com.

Forward-Looking Statements:

This press release, whether or not expressly stated, may contain "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. The words "believe," "intend," "expect," "plan," "estimate," "should," "will," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These statements reflect the Company’s expectations regarding future events and economic performance and are forward-looking in nature and, accordingly, are subject to risks and uncertainties. Such forward-looking statements include risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements which are, in some cases, beyond the Company’s control and which could have a material adverse effect on the Company’s business, financial condition, and results of operations. These risks and uncertainties include the risk that the distribution of the Company’s shares issued pursuant to the Redemption will not occur when anticipated, or at all, as well as risks relating to general economic conditions, market conditions, interest rates, and other risks and uncertainties that are identified from time to in the Company’s SEC filings, including those identified in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which are available at www.sec.gov. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition, and results of operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statement made by us herein speaks only as of the date on which it is made. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof, except as may be required by law.

Contact Details

Investor Relations
ir@gipreit.com
813-448-1234

SOURCE: Generation Income Properties Inc.

View the original press release on accesswire.com

Moderna Named to Fortune’s List of World’s Most Admired Companies

CAMBRIDGE, MA / ACCESSWIRE / January 31, 2024 / Moderna, Inc. (NASDAQ:MRNA) today announced it has been recognized on Fortune‘s World’s Most Admired Companies list as part of its "All-Star" top-50 companies. This annual list is considered one of the leading measures of corporate reputation among global organizations.

"We are honored to be recognized among the most admired companies in the world. This marks our first year on Fortune‘s esteemed list and builds on the recognition of our transformative platform technology," said Stéphane Bancel, Chief Executive Officer of Moderna. "We remain focused on being a company where people can do the best work of their lives as we advance our mission to deliver the greatest possible impact to people through mRNA medicines."

Moderna is committed to expanding the field of mRNA medicine into new frontiers, entering 2024 with 45 therapeutic and vaccine programs, nine of which are in late-stage development. This commitment is mirrored in its work to positively impact communities around the globe by promoting public health, access and equality. Moderna is consistently recognized for its investment in its people and innovation.

Since 1997, Fortune has collaborated with management consulting firm Korn Ferry to determine the 50 best-regarded companies, considering 1,500 candidates across 52 industries. This includes surveying more than 3,700 executives, directors and analysts, who are asked to rank enterprises in their own industry on nine criteria related to financial performance and corporate reputation, from investment value and quality of management and products to social responsibility and ability to attract talent.

To learn more about the Fortune 2024 World’s Most Admired Companies list, visit https://fortune.com/ranking/worlds-most-admired-companies/2024.

About Moderna

Moderna is a leader in the creation of the field of mRNA medicine. Through the advancement of mRNA technology, Moderna is reimagining how medicines are made and transforming how we treat and prevent disease for everyone. By working at the intersection of science, technology and health for more than a decade, the company has developed medicines at unprecedented speed and efficiency, including one of the earliest and most effective COVID-19 vaccines.

Moderna’s mRNA platform has enabled the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. With a unique culture and a global team driven by the Moderna values and mindsets to responsibly change the future of human health, Moderna strives to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.

Moderna Contacts

Media:
Kelly Cunningham
Associate Director, Communications & Media
617-899-7321
Kelly.Cunningham@modernatx.com

Investors:
Lavina Talukdar
Senior Vice President & Head of Investor Relations
617-209-5834
Lavina.Talukdar@modernatx.com

SOURCE: Moderna, Inc.

View the original press release on accesswire.com

abrdn U.S. Closed-End Funds Announce Distribution Payment Details

PHILADELPHIA, PA / ACCESSWIRE / January 31, 2024 / The abrdn U.S. Closed-End Funds (NYSE:ASGI)(NYSE American:THQ, THW), (the "Funds" or individually the "Fund"), today announced that the Funds paid the distributions noted in the table below on January 31, 2024, on a per share basis to all shareholders of record as of January 24, 2024 (ex-dividend date January 23, 2024).

Ticker

Exchange

Fund

Amount

ASGI NYSE abrdn Global Infrastructure Income Fund $ 0.1600
THQ NYSE American abrdn Healthcare Opportunities Fund $ 0.1125
THW NYSE American abrdn World Healthcare Fund $ 0.1167

Each Fund has adopted a distribution policy to provide investors with a stable distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.

Under applicable U.S. tax rules, the amount and character of distributable income for each Fund’s fiscal year can be finally determined only as of the end of the Fund’s fiscal year. However, under Section 19 of the Investment Company Act of 1940, as amended (the "1940 Act") and related rules, the Funds may be required to indicate to shareholders the estimated source of certain distributions to shareholders.

The following tables set forth the estimated amounts of the sources of the distributions for purposes of Section 19 of the 1940 Act and the rules adopted thereunder. The tables have been computed based on generally accepted accounting principles. The tables include estimated amounts and percentages for the current distributions paid this month as well as for the cumulative distributions paid relating to fiscal year to date, from the following sources: net investment income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated compositions of the distributions may vary because the estimated composition may be impacted by future income, expenses and realized gains and losses on securities and currencies.

The Funds’ estimated sources of the current distribution paid this month and for its current fiscal year to date are as follows:

Estimated Amounts of Current Distribution per Share

Fund

Distribution
Amount

Net Investment Income

Net Realized Short-Term Gains**

Net Realized Long-Term Gains

Return of Capital

ASGI

$0.1600

$0.0112

7%

$0.1152

72%

$0.0336

21%

THQ

$0.1125

$0.0023

2%

$0.1102

98%

THW

$0.1167

$0.1167

100%

Estimated Amounts of Fiscal Year* to Date Cumulative Distributions per Share

Fund

Distribution
Amount

Net Investment Income

Net Realized Short-Term Gains **

Net Realized Long-Term Gains

Return of Capital

ASGI

$0.5200

$0.0364

7%

$0.3744

72%

$0.1092

21%

THQ

$0.4500

$0.0090

2%

$0.4410

98%

THW

$0.4668

$0.4668

100%

* ASGI, THQ and THW have a 9/30 fiscal year end.

**includes currency gains

Where the estimated amounts above show a portion of the distribution to be a "Return of Capital," it means that Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all the money that you invested in a Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with "yield" or "income."

The amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes. The final determination of the source of all distributions for the current year will only be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations. After the end of each calendar year, a Form 1099-DIV will be sent to shareholders for the prior calendar year that will tell you how to report these distributions for federal income tax purposes.

The following table provides the Funds’ total return performance based on net asset value (NAV) over various time periods compared to the Funds’ annualized and cumulative distribution rates.

Fund Performance and Distribution Rate Information

Fund

Average Annual Total Return on NAV for the 5 Year Period Ending 12/31/2023¹

Current Fiscal Period’s Annualized Distribution Rate on NAV

Cumulative Total Return on NAV¹

Cumulative Distribution Rate on NAV²

ASGI³

8.81%3

6.84%

12.29%

1.71%

THQ

10.34%

6.37%

7.41%

1.59%

THW

9.00%

11.68%

5.44%

2.92%

1 Return data is net of all Fund expenses and fees and assumes the reinvestment of all distributions reinvested at prices obtained under the Fund’s dividend reinvestment plan.

2 Based on the Fund’s NAV as of December 31, 2023.

3 The Fund launched within the past 5 years; the performance and distribution rate information presented reflects data from inception (July 29, 2020) through December 31, 2023.

Shareholders should not draw any conclusions about a Fund’s investment performance from the amount of the Fund’s current distributions or from the terms of the distribution policy (the "Distribution Policy").

While NAV performance may be indicative of the Fund’s investment performance, it does not measure the value of a shareholder’s investment in the Fund. The value of a shareholder’s investment in the Fund is determined by the Fund’s market price, which is based on the supply and demand for the Fund’s shares in the open market.

Pursuant to an exemptive order granted by the Securities and Exchange Commission, the Funds may distribute any long-term capital gains more frequently than the limits provided in Section 19(b) under the 1940 Act and Rule 19b-1 thereunder. Therefore, distributions paid by the Funds during the year may include net income, short-term capital gains, long-term capital gains and/or a return of capital. Net income dividends and short-term capital gain dividends, while generally taxable at ordinary income rates, may be eligible, to the extent of qualified dividend income earned by the Funds, to be taxed at a lower rate not to exceed the maximum rate applicable to your long-term capital gains. Distributions made in any calendar year in excess of investment company taxable income and net capital gain are treated as taxable ordinary dividends to the extent of undistributed earnings and profits, and then as a return of capital that reduces the adjusted basis in the shares held. To the extent return of capital distributions exceed the adjusted basis in the shares held, capital gain is recognized with a holding period based on the period the shares have been held at the date such amount is received.

The payment of distributions in accordance with the Distribution Policy may result in a decrease in the Fund’s net assets. A decrease in the Fund’s net assets may cause an increase in the Fund’s annual operating expense ratio and a decrease in the Fund’s market price per share to the extent the market price correlates closely to the Fund’s net asset value per share. The Distribution Policy may also negatively affect the Fund’s investment activities to the extent that the Fund is required to hold larger cash positions than it typically would hold or to the extent that the Fund must liquidate securities that it would not have sold, for the purpose of paying the distribution. Each Fund’s Board has the right to amend, suspend or terminate the Distribution Policy at any time. The amendment, suspension or termination of the Distribution Policy may affect the Fund’s market price per share. Investors should consult their tax advisor regarding federal, state and local tax considerations that may be applicable in their particular circumstances.

Circular 230 disclosure: To ensure compliance with requirements imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, abrdn Asia Limited, abrdn Private Equity (Europe) Limited, and abrdn ETFs Advisors LLC.

Closed-end funds are traded on the secondary market through one of the stock exchanges. A Fund’s investment return and principal value will fluctuate so that an investor’s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund’s portfolio. There is no assurance that a Fund will achieve its investment objective. Past performance does not guarantee future results.

https://www.abrdn.com/en-us/cefinvestorcenter#

For More Information Contact:

abrdn U.S. Closed-End Funds
Investor Relations
1-800-522-5465
Investor.Relations@abrdn.com

SOURCE: abrdn U.S. Closed-End Funds

View the original press release on accesswire.com

Pelangio Exploration Provides Update on Activities in Ghana and Canada

TORONTO, ON / ACCESSWIRE / January 31, 2024 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company") is pleased to provide an update on 2023 activities and the outlook for 2024 for its projects in Ghana and Canada.

Highlights – 2023

  • Exploration resumed at Pelangio’s district scale Obuasi Project, adjacent to the giant high-grade Obuasi Mine
  • Pelangio’s Obuasi Project benefits from an agreement with TuNya Mineral Resources Ltd. ("TuNya") to provide both exploration expenditures and access to significant technical expertise
  • The recently completed Manfo Project drill program extended mineralization in both the Pokukrom East and West deposits, demonstrating resource growth potential with continued step-out drilling
  • Canada Nickel Company’s ("Canada Nickel") significant discovery on its Mann Northwest property enhances interest in Pelangio’s adjacent Mann property (2.2 km away)
  • Barrick Gold Inc. ("Barrick") began exploration on Hemlo Explorer’s Pic property, which surrounds Pelangio’s Seeley Lake property
  • First Mining Gold Corp ("First Mining") began exploration on Pelangio’s Birch Lake property which is adjacent to First Mining’s Springpole Gold Project

Outlook – 2024

  • Obuasi project continues with the TuNya-funded exploration program on the Obuasi Project and will focus on two large target areas in the southwest corner of the property closest to the Obuasi Mine property, the Obuasi and NGA target areas
  • TuNya’s exploration program will also cover the Tarkwaian geology which has been under-explored to date
  • Resource extension drilling and exploration drilling planned for the Manfo project
  • Record Gold is expected to complete $250,000 of exploration at Pelangio’s Grenfell property under the terms of the option agreement
  • First Mining will complete further exploration at Pelangio’s Birch Lake under the terms of the option agreement
  • Barrick is continuing exploration on Hemlo’s Pic Project including a 2,500 m drill program
  • Pelangio is considering strategic opportunities for Canadian properties which are prospective for silver, zinc, nickel, copper, cobalt, chromium, and platinum group elements (PGEs)

"2023 provided very positive developments for Pelangio in Ghana and Canada," comments Ingrid Hibbard, President and CEO of Pelangio. "We’re pleased to resume exploration at our Obuasi Project following settlement of outstanding litigation between vendors of two of the four concessions of the Obuasi property. We entered into an agreement with TuNya, which provides both exploration funding and access to a technical team with over 125 years of combined experience on the extremely prolific Ashanti gold belt, including significant experience at the Obuasi mine itself. We anticipate this additional knowledge to provide real value to the development of the next phase of exploration at Obuasi."

"In addition, our drill program at our Manfo Project on the Sefwi Belt in Ghana extended known mineralization at the southern ends of both the Pokukrom East and West deposits. Potential remains to establish additional extensions to the mineralization and to grow the Manfo resource with continued drilling at a number of the targets yet to be drilled around these deposits, plus exploration drill testing of multiple targets across the property.

"In Canada, several of our properties are benefitting from exploration completed by others. We anticipate exploration at both our Birch Lake and Grenfell properties to be completed by our option partners, First Mining and Record Gold, in 2024. Our Seeley property near Hemlo will benefit from exploration, including 2,500 m of drilling completed by Barrick on Hemlo Explorer’s Pic Project. Our Mann property has benefitted from new data provided by the significant discovery made by Canada Nickel on its adjacent Mann Northwest Project."

GHANA

Manfo Project

The 96 km² Manfo project, located in the Sefwi-Bibiani Belts 15 km southeast of Newmont’s Ahafo gold mine and 40 km north of Asante Gold’s Bibiani gold mine, has recently been Pelangio’s exploration focus in Ghana. Refer to Figure 1. In 2013, SRK Consulting estimated the project hosts a gold mineral resource of 195,000 oz (at 1.52 g/t Au) Indicated and 298,000 oz (at 0.96 g/t Au) Inferred with the bulk of the resource contained in the two Pokukrom deposits.¹

In 2021, Pelangio identified opportunities to grow the project through step-out drill testing of open-ended mineralization in the known deposits to demonstrate possible extensions that would be further drilled for potential resource addition, plus drill testing of multiple exploration targets along and near the 9 km of mineralized structures within the property. A multi-phase 3,700 m diamond drill program was planned of which
1,423 m has been drilled to date.

The 2023 drill program, detailed in Pelangio’s July 24, 2023 news release, tested for strike and down-dip extensions in select areas of both Pokukrom East and West deposits, in addition to a soil plus auger gold geochemical target sitting on the western flank of Pokukrom East. The drill hole south of Pokukrom West returned an intercept of 1.88 g/t Au over 13 m, including 4.01 g/t over 4 m. The shallow oxide mineralization is still open further to the south and the potential remains to expand the Pokukrom West resource with further drilling to the south. The down-dip drill test at the shallower southern end of Pokukrom East intercepted 0.71 g/t Au over 20 m plus 1.66 g/t Au over 7 m, including 1 m of 8.43 g/t Au. The mineralization remains open down-dip in this area and there is potential to expand the resource to depth here.

The 2023 program followed the 2021 program at Pokukrom West. The first hole of the 2021 program was drilled in the midst of previous drilling to gain a better understanding of the structural controls on the mineralization. It returned an intercept of 3.81 g/t Au over 15 m, including 5.65 g/t Au over 7 m – better than surrounding holes. The second hole tested for the down-plunge continuation of the Pokukrom West lode. It returned an encouraging intercept of 3.19 g/t Au over 12 m, including 6.85 g/t Au over 3 m, demonstrating that the Pokukrom West deposit does in fact continue down-plunge. Table 1 summarizes the significant drill intercepts at Pokukrom from the 2021 and 2023 programs, and Figure 2 illustrates the drill hole locations.

With a number of targets yet to be drilled in the planned resource step-out diamond drilling program around the Pokukrom deposits, potential remains to establish additional extensions to mineralization and potentially grow the resource with infill drilling. This would be followed with a resource estimation update for Manfo which, at a higher gold price than the US$1,450/oz used in the 2013 MRE, is expected to result in some addition to the Manfo project gold resource. In addition, a 7,000 m exploration air-core drilling program is planned to test up to 21 previously untested geological, geochemical, and structural targets along and near the 9 km long main structural corridor, which could yield satellite deposit discoveries that might also add significantly to the project. With a defined gold mineral resource and a number of opportunities remaining to add to it, Manfo continues to be Pelangio’s priority in Ghana.

  1. The Manfo mineral resource estimation was conducted by SRK Consulting and published in June 2013. (Refer to the Mineral Resource Evaluation Technical Report, Manfo Gold Project, by SRK Consulting (Canada) Inc., released on June 21, 2013 and available on Pelangio’s website). The resource estimation was made in accordance with National Instrument 43‐101 ‐ Standards of Disclosure for Mineral Projects at the time of the mineral resource estimation in 2013. NI 43-101 standards for disclosure have been amended multiple times since 2013 and as a result, Pelangio’s 2013 resource estimate is no longer NI 43-101 compliant under the current standards.

Obuasi Project

Pelangio’s 100% owned Obuasi project covers 284 km² immediately adjacent to and on geological strike with AngloGold Ashanti’s 25 Moz Obuasi Mine. Refer to Figures 1 and 3. The Obuasi project is also immediately adjacent to TuNya’s property, which hosts the Kyereboso deposit. Obuasi was Pelangio’s flagship project in Ghana from 2007 to 2011. With the recent litigation settlement and a recently signed binding letter of intent ("LOI") to option a portion of the Obuasi property to TuNya Mineral Resources, Pelangio is turning new focus to the Obuasi project.

Early exploration activity plus subsequent and more recent data reanalysis, prospectivity and targeting exercises prioritized two large principal target areas for follow-up exploration situated in the southwestern corner of the property closest to the Obuasi Mine property. The Obuasi Targets area covers the strike extension of geological stratigraphy along which the Obuasi deposits lie. The NGA Targets area straddles the main Birimian-Tarkwaian metasedimentary contact and has seen minimal drill testing by Pelangio, although two drill holes returned high grades over narrow widths, including 24.50 g/t Au over 1 m and 11.28 g/t Au over 2 m. This high-grade prospect will likely be one of the first revisited after completion of the work by TuNya.

Ongoing work on the Obuasi project will continue the desktop target development and ranking exercise, augmented by fieldwork to include a comprehensive review of drill core, detailed field mapping and a structural study. This effort will be conducted largely by TuNya’s "Obuasi experts." Pelangio and TuNya’s LOI includes an option for TuNya to earn into an 80% interest on the southern portion of Pelangio’s Obuasi project covering principally Tarkwaian geology. For details, refer to Pelangio’s July 31, 2023 news release. This allows TuNya to explore the Tarkwaian for extensions and additions to their Kyereboso deposit that could result in a more robust project for them, while Pelangio maintains a 20% interest in ground that was unlikely to be explored by Pelangio over the near term. In exchange, TuNya will undertake a comprehensive review of Pelangio’s Obuasi property prospects, focusing on the Obuasi and NGA Target areas and utilizing their personnel who have considerable senior technical and management experience at the Obuasi Mine and elsewhere along the Ashanti Belt.

Working with TuNya and their new products, Pelangio expects to be able to develop a more informed ranked target list for ongoing Obuasi exploration. At the same time, Pelangio plans to enhance this with improved geochemical and geophysical datasets through targeted auger drilling programs plus a high resolution airborne aeromagnetic survey covering the western third of the Obuasi property. As has been done in the past at Obuasi, upon completion of these programs, an AI (artificial intelligence) prospectivity platform can be utilized to generate smarter exploration targets with better, more detailed datasets. This work will be guided by the Obuasi expertise of TuNya’s technical people, including a structural geologist, a geophysicist, and a GIS specialist. These efforts should ultimately delineate the very best targets for drill testing. Drill testing will initially be performed at shallow depths, followed by deeper probes as and where warranted.

Dankran Project

Pelangio entered into an option agreement to acquire the Dankran property adjacent to the Obuom mine and contiguous to the northeast corner of Pelangio’s Obuasi property in late 2020.Refer to Figure 3. The Dankran project, which is now 100% owned by Pelangio, has shown evidence of high-grade gold potential on the Obuasi-Obuom trend from limited, shallow (<70 m vertical) RC drill testing, which warrants follow up drilling. While currently a lower priority than Pelangio’s Manfo and Obuasi projects, the Dankran project represents an early-stage, high-grade gold exploration opportunity hosting 7 km of underexplored strike of the Ashanti Belt, 25 km away from the world-class Obuasi Mine.

CANADA

Birch Lake Project

Pelangio’s 100% owned Birch Lake Project is located within the Birch-Uchi Belt, 120 km northeast of Red Lake and contiguous with First Mining Gold’s claims covering the Springpole deposit, approximately 3 km from the proposed open pit. See Figure 4. First Mining has an initial option to earn a 51% interest in the project by paying Pelangio $220,000, issuing 2,100,000 shares and spending $1,500,000 in exploration over seven years, since the signing of their earn-in agreement in 2021. First Mining has an additional option to increase its interest to 80% by spending an additional $1,750,000 in exploration and paying $400,000 in cash or shares over two years.

During 2022-2023, First Mining conducted mapping and geochemical sampling and flew the Birch Lake property with an electromagnetic and magnetic survey as part of an extensive district-wide airborne survey. One target was drilled and additional drilling is anticipated in 2024, dependent on weather conditions and permitting.

Grenfell Project

Pelangio’s Grenfell property is located 10 km northwest of the Macassa Mine owned by Agnico-Eagle Mines Limited. In 2022, Pelangio granted Record Gold the option to acquire an 80% interest in the Grenfell property by paying Pelangio $60,000 and incurring $2,000,000 in exploration expenditures over five years. To maintain the option, Record Gold shall pay $60,000 and complete $250,000 of exploration expenditures by August 19, 2024.

Pelangio conducted two diamond drilling programs in 2020 and 2021 with notable drilling results of
1.32 g/t Au over 26.0m including 314 g/t Au over 1.74 m (uncut) and 10.95 g/t Au over 3.00 m including 23.40 g/t Au over 1.00 m.

Seeley Project

Pelangio’s 100% owned Seeley Project located near Hemlo, Ontario, is surrounded by the Pic Project owned by Hemlo Explorers. See Figure 5. Previous work on the project by Pelangio in 1997 and 2008 included gold results of 4.71 g Au/t over 1 m and 4.85 g Au/t over 2 m, associated with anomalous copper and zinc values, and indicated alteration and a geologic setting similar to that found with volcanic-associated massive sulfide (VMS) deposits, which are frequently sources of metals such as copper, lead, and zinc. In 2009 mapping, prospecting and soil sampling resulted in seven anomalies around previous Pelangio drilling. The geological mapping and whole rock analysis indicated potential for gold deposits and identified ultramafic rocks anomolous in nickel. Notably, Barrick is completing a 2,500 m drill program on Hemlo Explorer’s Pic project.

Mann Project

Pelangio’s 100% owned Mann project has come to the forefront with a recent nearby discovery by Canada Nickel Company. Canada Nickel is advancing their 2 billion tonne Crawford nickel project and aggressively exploring multiple properties in the district. The Mann Property is located in Mann Township, 50 km northeast of the City of Timmins, and covers an area of approximately 2 km². Pelangio’s patented claims (mining and surface rights) cover a portion of a large ultramafic intrusive complex that is prospective for nickel, copper, cobalt, chromium and PGEs close to where Canada Nickel has just reported assays from a significant new discovery on their Mann Northwest Property surrounding Pelangio’s patented claims (see Canada Nickel’s August 22, 2023 release). See Figure 6.

Canada Nickel drilled eight holes from May to July 2023, testing 2.7 km of strike. Each hole returned multi-hundred-meter-wide intersections of "strongly serpentinized peridotite, dunite and pyroxenite with fine mineralization throughout." Canada Nickel reported assays from five of the eight holes drilled which were all mineralized with significant nickel, platinum and palladium values returning up to 348.5 m of 0.23% Ni and 0.04 g/t Pt+Pd including 33 m of 0.31% Ni and 0.057 g/t Pt+Pd. This hole also ended with 28.9 m of 0.52 g/t Pt+Pd. Canada Nickel’s drill holes are located 2.2 km from Pelangio’s Mann property boundary. The Mann patents cover historical airborne electromagnetic anomalies that experienced limited shallow drill testing by Inco from 1948 to 1951 and returned significant nickel values over narrow widths. Given the very significant nearby discovery by Canada Nickel, Pelangio is currently considering exploration programs to evaluate the potential of the property.

Qualified Person

Mr. Kevin Thomson, P.Geo. (Ontario, #0191), is a qualified person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Thomson approved the technical data disclosed in this release.

About Pelangio

Pelangio acquires and explores world-class land packages on strategic 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 seven 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 its Dankran property located adjacent to its Obuasi property. In Canada, the company has several gold properties and two critical minerals properties. See www.pelangio.com for further details.

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

Ingrid Hibbard, President and CEO

Tel: 905-336-3828 / Toll-free: 1-877-746-1632 / Email: info@pelangio.com

Appendix

Figure 1. Location of Pelangio’s Gold Projects in southwest Ghana

Table 1: Significant Results of the 2021 and 2023 Diamond Drilling Programs at Manfo

DHID

Prospect

AZIM(°)

DIP(°)

EOH(m)

FROM(m)

TO(m)

LENGTH(m)

AU(g/t)*

DD21-001

Poku W.

297

-50

121.5

110

125

15

3.81

including

112

119

7

5.65

DD21-002

Poku W.

297

-60

231.7

211

223

12

3.19

including

216

219

3

6.85

SPDD23-006

Poku W.

117

-45

74

2

15

13

1.88

including

11

15

4

4.01

35

37

2

0.71

SPDD23-007

Poku E.

117

-55

174

90

119

20

0.71

including

90

96

6

1.32

137

144

7

1.66

including

138

139

1

8.43

* Assay composites using a 0.4 g/t Au cut-off. Intervals of internal dilution do not exceed 2m < 0.4 g/t Au.

Figure 2. 2021 and 2023 Drilling on the Pokukrom Deposits, Manfo Project

Figure 3. Location of Pelangio’s Obuasi and Dankran Projects in Relation to AngloGold Ashanti’s Obuasi Mine

Figure 4. Pelangio Birch Lake Project

Figure 5. Pelangio’s Seeley Lake Project

Figure 6. Location of Pelangio’s Mann Property in Relation to Canada Nickel’s New Mann Northwest Discovery

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 Company’s strategy of acquiring large land packages in areas of sizeable gold mineralization, and the Company’s ability to complete the planned exploration programs. With respect to forward-looking statements and information contained herein, we have made numerous assumptions, including assumptions about 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 changes in equity markets, share price volatility, volatility of global and local economic climate, gold price volatility, political developments in Ghana and Canada, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including the risk that favourable exploration results may not be obtained, delays due to COVID-19 safety protocols, and other risks involved in the gold exploration industry. See the Company’s 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 the 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.

SOURCE: Pelangio Exploration Inc.

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