Pelangio Exploration Awards 250,000 Stock Options to Director at $0.125 Exercise Price with Ten-Year Term

Details of the Director Stock Option Grant

On July 20, 2026, Pelangio Exploration disclosed that its Board approved issuing 250,000 incentive stock options to a company director. This grant serves as a compensation tool aligning leadership interests with shareholder value creation. Each option allows the purchase of one common share at a fixed price of $0.125 per share.

The options have a standard ten-year term, expiring on July 20, 2036, offering significant flexibility for exercising the award over an extended period, subject to regulatory and plan conditions. The grant complies with the TSX Venture Exchange’s requirements and Pelangio’s Stock Option Plan provisions.

Exercise Price and Valuation Considerations

The $0.125 exercise price sets the baseline for converting options into common shares, establishing potential intrinsic value if Pelangio’s share price rises above this level during the ten-year term. The announcement does not disclose the current market price or recent trading activity of Pelangio shares.

Investors should note that the immediate effect on share price is unclear. Stock option grants generally represent non-dilutive compensation upon issuance, with dilution occurring only upon exercise. The 250,000 options represent a future share commitment, the impact of which depends on the company’s total outstanding shares, which were not disclosed.

Compliance with TSX Venture Exchange Regulations

The stock option grant is subject to TSX Venture Exchange (TSX-V) rules and policies, which govern equity compensation, approval processes, disclosure, and exercise price restrictions. Pelangio’s grant adheres to these regulatory standards as of the announcement date.

The release includes a standard disclaimer noting that neither the TSX-V nor its Regulation Services Provider assumes responsibility for the announcement’s accuracy or adequacy, emphasizing Pelangio’s accountability for compliance. Any material modifications or non-compliance could lead to regulatory scrutiny or enforcement actions.

Pelangio’s Gold Exploration Focus

Pelangio Exploration is a Canadian mineral exploration firm concentrating on gold projects in Ghana and Canada. Its portfolio includes properties at various development stages, with the Manfo Gold Project in Ghana’s Sefwi Gold Belt as its flagship asset. Pelangio owns Manfo outright and is actively conducting drilling and exploration there.

In Ghana, Pelangio also holds the Dankran property, where prior exploration revealed high-grade gold mineralization warranting further drilling, and the Obuasi property, currently in early exploration phases. The stock option grant aligns director compensation with the company’s ongoing exploration and development efforts on these assets.

Gold Project Portfolio in Ghana’s Sefwi Gold Belt

The Manfo Gold Project is Pelangio’s most advanced asset, situated in a prolific gold region known for multiple operating and developing mines. The company has established a mineral resource estimate at Manfo and continues drilling to advance the project toward potential development. This focus reflects management’s confidence in the Sefwi Belt’s geological potential.

The announcement does not include updated resource figures, recent drilling results, or timelines for upcoming milestones. Investors should monitor future Pelangio disclosures for operational updates on drilling, resource estimates, or permitting progress.

Director Compensation and Governance Practices

Granting stock options to directors is a standard governance practice aimed at aligning management incentives with long-term shareholder value. Providing options exercisable at a fixed price over an extended period encourages sustainable operational success. Pelangio’s equity-based director compensation aligns with common practices in the Canadian junior exploration sector.

The announcement does not reveal the director’s identity, role, or any vesting conditions attached to the grant. It also does not specify whether this grant is part of an annual award, special recognition, or broader compensation strategy. Investors may consult Pelangio’s proxy statements or management circulars for additional details on director compensation policies and prior awards.

Stock Option Plan Terms and Exercise Period

The 250,000 options are governed by Pelangio’s Stock Option Plan, which outlines vesting schedules, exercise conditions, cashless exercise options, and transfer restrictions. While the announcement confirms compliance with the plan, it does not disclose specific vesting details.

The options expire on July 20, 2036, offering a decade-long window for exercise, assuming the director remains eligible and the options are not forfeited due to employment termination or other plan terms. No information was provided on acceleration clauses or other conditions affecting exercisability during this period.

TSX Venture Exchange Listing and Market Information

Pelangio Exploration Inc. trades on the TSX Venture Exchange under the symbol PX and on the OTC Pink Markets as PGXPF. Its TSX-V listing reflects its status as a Canadian junior mineral exploration company subject to exchange rules for exploration and development issuers. Trading volume and liquidity fluctuate with exploration progress, gold sector sentiment, and junior mining trends.

The announcement does not include recent trading volumes, share price history, or market capitalization data. Investors should perform independent market research and consult trading platforms for current and historical share information.

Investor Outlook and Monitoring Recommendations

Shareholders and market observers should watch for future updates on exploration results from the Manfo Gold Project, including drilling outcomes, resource estimate revisions, and permitting developments in Ghana. Progress updates on the Dankran and Obuasi properties may also indicate advancement in Pelangio’s exploration strategy. Material changes to assets or strategy will trigger regulatory disclosures.

Investors should also monitor future equity compensation grants, management or Board changes, and regulatory filings such as management information circulars or annual reports, which provide comprehensive details on equity compensation, including this recent grant. Additional project information and exploration updates are available on Pelangio’s website at www.pelangio.com.