Pelangio Exploration Inc.
Ghana – Timmins – Red Lake ● World-class Gold belts
Message: Pelangio Advised of Drill Results From Detour Gold's Drilling
Pelangio Mines Inc.
TSX: PLG
The 2007-08 Phase II program was recently increased to 135,000 metres and is expected to be completed by mid-2008. The 15,000 metre addition will mainly test the new mineralization that was identified in the footwall of the eastern part of the West Pit (i.e. hole DG-07-194A), in areas outside of the December 2007 US$575 pit shell.
Gerald Panneton, President and CEO of Detour Gold commented: "Today's results from the Calcite Zone clearly demonstrate that the Detour Lake deposit is a large gold mineralized system which keeps surprising us. We are extremely confident in meeting our objectives of outlining a mineral resource of over 10 million ounces of gold at Detour Lake by the end of June. The planned June resource will be based on a fully designed and engineered open pit that will serve as the basis of our 2008 feasibility study to be completed by year-end."
The December 2007 mineral resource contained 4.8 million ounces in the measured and indicated categories (1.22 M oz in measured and 3.61 M oz in indicated) and 3.0 million ounces in the inferred category, using a gold price of US$575/oz (equivalent to a cut-off grade of 0.64 g/t gold and capped at 20 g/t gold).
Complete tables of results, surface and longitudinal plans and cross-sections for the Detour Lake deposit are posted on the Company's website www.detourgold.com /Projects/Detour Lake or http://www.detourgold.com/dgc/Latest... on the home page "Explore Detour Lake".
Detour Gold's exploration program is being managed by Project Manager, Mr. Roger Aubertin, P.Eng., a Qualified Person within the meaning of National Instrument 43-101. Mr. Aubertin has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information. The December 2007 mineral resource was prepared by Thon Consulting and audited by Michael W. Kociumbas, P.Geo., Vice-President of Watts, Griffis and McOuat Limited. Details on the current mineral resource are available in the January 2008 Technical Report, which is posted on the Company's website or on SEDAR (www.sedar.com).
Samples are prepared and assayed at SGS Minerals Services in Don Mills, Ontario, Canada. Analysis for gold is done on sawn half core samples using fire assay (AA finish). Samples with higher grade gold (greater than 5 g/t) are re-assayed using the pulp and metallics procedures. Standard reference materials, blank and field duplicate samples are inserted prior to shipment from site to monitor the quality control of the assay data. For additional information on Quality Assurance and Quality Control, refer to the press release dated April 11, 2007.
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street, Suite 2040, Toronto, Ontario M5J 2J1
Forward-Looking Information
This press release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Specifically, this press release includes forward-looking statements regarding: the Company's planned drilling program and estimate of the quantity and quality of its mineral resources. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. These risks, uncertainties and other factors include, but are not limited to, the uncertainties involved in interpreting geological data and other risks involved in the gold exploration and development industry as well as those risk factors listed in the Company's Annual Information Form (AIF), Item 4.4 - "Description of Business - Risk Factors" filed on SEDAR. Readers are cautioned that the list of factors included in the AIF is not exhaustive of the factors that may affect the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, the following assumptions: the Company's exploration and development activities on the Detour Lake Property will proceed in accordance with the Company's current timetables; and the Company's resource estimates, geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources) and operational and price assumptions on which the resource estimates are based, are accurate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.
Information Concerning Estimates of Mineral Resources
This news release uses the terms 'measured', 'indicated' and 'inferred' resources. Detour Gold advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable."
About Pelangio
Pelangio is a gold exploration company active in the top-ranked mining jurisdictions in the world, Canada and Ghana. Pelangio's main focus is to advance its exploration programs on its premier land position in Ghana totaling 290 square kilometres, located on strike and adjacent to AngloGold Ashanti's Obuasi gold mine.
Pelangio also has a 44.6% equity interest in Detour Gold, which controls the Detour Lake advanced exploration project. The near-term objective of Detour Gold is to advance the Detour Lake project to development and production.
For additional information, please visit our website at www.pelangio.com.
Reliance on Detour Gold and Forward-Looking Statements
The information contained in this press release is a verbatim extract of the press release issued by Detour Gold. Although Pelangio believes the information included in the press release to be generally reliable, the data has not been independently verified and Pelangio does not assume any liability for the accuracy or completeness of such information. Furthermore, as noted above in the verbatim extract, the press release may contain forward-looking information within the meaning of applicable securities laws. Such information includes the statements contained in the verbatim extract regarding Detour Gold's exploration and drilling plans, plans to update the mineral resource and the estimation of mineral resources and are subject to risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The risks include those that are set out above in the verbatim extract and those contained in Detour Gold's annual information form, Item 4.4 - "Description of Business - Risk Factors" filed on SEDAR as noted above. See also, the risks set out in Pelangio's annual information form, management information circular and quarterly and annual management's discussion and analysis. There is no assurance that the forward-looking information contained in the press release will prove to be accurate. Accordingly, readers should not place undue reliance on the forward-looking information. All of the information contained in the press release is qualified by this cautionary statement.
Ingrid Hibbard
President & CEO
(905) 875-3828 or Toll Free: 1-877-746-1632
or
Pelangio Mines Inc.
Warren Bates
Vice President Exploration
(905) 875-3828 or Toll Free: 1-877-746-1632
Email: info@pelangio.com
Website: www.pelangio.com
TSX: PLG
May 06, 2008 08:05 ET
Pelangio Advised of Drill Results From Detour Gold's Drilling Program at Detour Lake, Ontario (2.10 g/t Over 76.0 m in DG-07-264 & 2.26 g/t Over 69.0 m in DG-07-259)
TORONTO, ONTARIO--(Marketwire - May 6, 2008) - Pelangio Mines Inc. (TSX:PLG) ("Pelangio") has been advised by Detour Gold Corporation ("Detour Gold") that it has released drill results of 18 holes from the Calcite Zone of its Phase II drilling program at the Detour Lake property in northern Ontario. Detour Gold started Phase II drilling in July 2007 and thus far has completed 275 holes totaling 106,870 metres (including 16 holes abandoned totaling 1,377 metres).
Pelangio has a 44.6% equity interest in Detour Gold (20 million shares). Detour Gold issued a press release today, the verbatim text of which follows:
"Detour Gold Reports Wide Gold Intersections from the Calcite Zone of its Detour Lake Project in Northern Ontario, Canada (2.10 g/t over 76.0 m in DG-07-264 & 2.26 g/t over 69.0 m in DG-07-259)
Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to report the drill results of 18 holes from the Calcite Zone of its Phase II drilling program at the Detour Lake property in northern Ontario. The Company started Phase II drilling in July 2007 and thus far has completed 275 holes totaling 106,870 metres (including 16 holes abandoned for 1,377 metres). The Company has now reported 139 holes totaling 47,781 metres (including 12 holes abandoned for 1,116 metres). There are four (4) active drill rigs on site.
The Calcite Zone continues to return positive drill results with higher gold grades than previously encountered. This significant mineralization intersected within the current US$575 pit shell will have a direct impact of further increasing the mineral resources and reducing the strip ratio. Today's results are showing excellent continuity of a wide mineralized zone (greater than 50 metres) that was previously intersected over a strike length of 160 metres in the center of the Calcite Zone (from 18,380E to 18,540E; refer to cross-sections posted on Detour Gold's website).
The best mineralized (uncut) intervals encountered are shown below.
Calcite Zone
-------------------------------------------------------------------
DG-07-233 DG-07-247 DG-07-261 DG-07-266
--------- --------- --------- ---------
8.71 g/t 9.89 g/t over 4.12 g/t over 1.87 g/t over
over 9.0 m 8.0 m 17.0 m 65.0 m
9.36 g/t over 1.65 g/t over 3.38 g/t over
20.0 m 31.0 m 17.5 m
3.23 g/t over
30.0 m
DG-07-238 DG-07-259 DG-07-262 DG-07-270
--------- --------- --------- ---------
11.87 g/t 2.26 g/t over 4.06 g/t over 1.25 g/t over
over 7.0 m 69 m 21.0 m 53.0 m
5.21 g/t over 6.43 g/t over
27.0 m 11.0 m
DG-07-243 DG-07-260 DG-07-264
--------- --------- ---------
1.90 g/t 4.88 g/t over 2.10 g/t over DG-07-273
over 47.0 m 27.0 m 76.0 m ---------
10.67 g/t over 1.29 g/t over
8.0 m 82.0 m
4.19 g/t over
14.0 m
1.15 g/t over
57.0 m
The 2007-08 Phase II program was recently increased to 135,000 metres and is expected to be completed by mid-2008. The 15,000 metre addition will mainly test the new mineralization that was identified in the footwall of the eastern part of the West Pit (i.e. hole DG-07-194A), in areas outside of the December 2007 US$575 pit shell.
Gerald Panneton, President and CEO of Detour Gold commented: "Today's results from the Calcite Zone clearly demonstrate that the Detour Lake deposit is a large gold mineralized system which keeps surprising us. We are extremely confident in meeting our objectives of outlining a mineral resource of over 10 million ounces of gold at Detour Lake by the end of June. The planned June resource will be based on a fully designed and engineered open pit that will serve as the basis of our 2008 feasibility study to be completed by year-end."
The December 2007 mineral resource contained 4.8 million ounces in the measured and indicated categories (1.22 M oz in measured and 3.61 M oz in indicated) and 3.0 million ounces in the inferred category, using a gold price of US$575/oz (equivalent to a cut-off grade of 0.64 g/t gold and capped at 20 g/t gold).
Complete tables of results, surface and longitudinal plans and cross-sections for the Detour Lake deposit are posted on the Company's website www.detourgold.com /Projects/Detour Lake or http://www.detourgold.com/dgc/Latest... on the home page "Explore Detour Lake".
Detour Gold's exploration program is being managed by Project Manager, Mr. Roger Aubertin, P.Eng., a Qualified Person within the meaning of National Instrument 43-101. Mr. Aubertin has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information. The December 2007 mineral resource was prepared by Thon Consulting and audited by Michael W. Kociumbas, P.Geo., Vice-President of Watts, Griffis and McOuat Limited. Details on the current mineral resource are available in the January 2008 Technical Report, which is posted on the Company's website or on SEDAR (www.sedar.com).
Samples are prepared and assayed at SGS Minerals Services in Don Mills, Ontario, Canada. Analysis for gold is done on sawn half core samples using fire assay (AA finish). Samples with higher grade gold (greater than 5 g/t) are re-assayed using the pulp and metallics procedures. Standard reference materials, blank and field duplicate samples are inserted prior to shipment from site to monitor the quality control of the assay data. For additional information on Quality Assurance and Quality Control, refer to the press release dated April 11, 2007.
For further information, please contact:
Gerald Panneton, Laurie Gaborit,
President and CEO Director Investor Relations
Tel: (416) 304.0800 Tel: (416) 304.0581
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street, Suite 2040, Toronto, Ontario M5J 2J1
Detour Lake Project - Highlights of Drill Results
----------------------------------------------------------------------------
Au
Cut
Au to 20
Section From To Length Uncut g/t
Hole No. No. (m) (m) (m) (g/t) (g/t) Host Rock Unit
----------------------------------------------------------------------------
DG-07-233 18,380E 171.0 190.0 19.0 1.27 1.27
Calcite Zone -------------------------------------------------------
207.0 216.0 9.0 8.71 2.44 Upper Pillow Flow
-------------------------------------------------------
Inc. 208.0 209.0 1.0 76.50 20.00
-------------------------------------------------------
239.0 246.0 7.0 1.29 1.29
-------------------------------------------------------
301.0 308.0 7.0 1.10 1.10
-------------------------------------------------------
323.0 330.0 7.0 4.15 4.15 Lower Pillow Flow
-------------------------------------------------------
337.0 344.0 7.0 0.87 0.87
-------------------------------------------------------
389.0 396.0 7.0 1.23 1.23
-------------------------------------------------------
432.0 445.0 13.0 3.55 2.73 Contact MF/PF
-------------------------------------------------------
Inc. 437.0 438.0 1.0 30.74 20.00
----------------------------------------------------------------------------
DG-07-238 18,420E 65.0 72.0 7.0 1.46 1.46
Calcite Zone -------------------------------------------------------
210.0 217.0 7.0 11.87 3.10 Upper Massive Flow
-------------------------------------------------------
Inc. 212.0 213.0 1.0 81.40 20.00
-------------------------------------------------------
281.0 292.0 11.0 2.64 2.64 Lower Pillow Flow
-------------------------------------------------------
312.0 341.0 29.0 1.33 1.33 Lower Pillow Flow
-------------------------------------------------------
437.0 445.0 8.0 1.08 1.08
----------------------------------------------------------------------------
DG-07-243 18,340E 294.0 341.0 47.0 1.90 1.90 Contact MF/PF
Calcite Zone -------------------------------------------------------
378.0 390.0 12.0 1.16 1.16
-------------------------------------------------------
444.0 451.0 7.0 3.75 2.95 Lower Massive Flow
-------------------------------------------------------
Inc. 450.0 451.0 1.0 25.60 20.00
----------------------------------------------------------------------------
DG-07-247 18,260E 144.0 151.0 7.0 0.99 0.99
Calcite Zone -------------------------------------------------------
226.0 234.0 8.0 9.89 3.42 Upper Massive Flow
-------------------------------------------------------
Inc. 230.0 231.0 1.0 71.80 20.00
-------------------------------------------------------
261.0 281.0 20.0 9.36 2.42 Upper Massive Flow
-------------------------------------------------------
Inc. 265.0 266.0 1.0 82.00 20.00
-------------------------------------------------------
Inc. 266.0 267.0 1.0 96.90 20.00
-------------------------------------------------------
294.0 301.0 7.0 2.14 2.14
-------------------------------------------------------
365.0 379.0 14.0 2.28 2.28 Lower Pillow Flow
----------------------------------------------------------------------------
DG-07-250 18,300E 191.0 201.0 10.0 2.08 2.08
Calcite Zone -------------------------------------------------------
219.0 227.0 8.0 0.77 0.77
-------------------------------------------------------
236.0 251.0 15.0 2.32 2.32 Lower Pillow Flow
-------------------------------------------------------
263.0 287.0 24.0 1.90 1.90 Lower Pillow Flow
----------------------------------------------------------------------------
DG-07-259 18,380E 23.0 92.0 69.0 2.26 1.41 Contact MF/PF
Calcite Zone -------------------------------------------------------
Inc. 31.0 32.0 1.0 78.70 20.00
-------------------------------------------------------
99.0 108.0 9.0 1.79 1.79
-------------------------------------------------------
162.0 171.0 9.0 4.32 1.58 Lower Massive Flow
-------------------------------------------------------
Inc. 170.5 171.0 0.5 69.42 20.00
-------------------------------------------------------
201.0 228.0 27.0 5.21 2.68 Lower Massive Flow
-------------------------------------------------------
Inc. 214.0 215.0 1.0 53.60 20.00
-------------------------------------------------------
Inc. 215.0 216.0 1.0 54.70 20.00
----------------------------------------------------------------------------
DG-07-260 18,380E 93.0 120.0 27.0 4.88 2.86 Lower Pillow Flow
Calcite Zone -------------------------------------------------------
Inc. 94.0 95.0 1.0 74.70 20.00
-------------------------------------------------------
131.0 138.0 7.0 1.22 1.22
-------------------------------------------------------
169.0 188.0 19.0 1.77 1.77 Lower Pillow Flow
-------------------------------------------------------
205.0 218.0 13.0 1.29 1.29
-------------------------------------------------------
227.0 234.0 7.0 1.25 1.25
-------------------------------------------------------
255.0 271.0 16.0 2.13 2.13 Lower Massive Flow
-------------------------------------------------------
280.0 288.0 8.0 10.67 3.98 Lower Massive Flow
-------------------------------------------------------
Inc. 284.0 284.2 0.2 192.00 20.00
-------------------------------------------------------
Inc. 284.2 284.7 0.5 58.22 20.00
----------------------------------------------------------------------------
DG-07-261 18,420E 26.0 43.0 17.0 4.12 3.23 Lower Pillow Flow
Calcite Zone -------------------------------------------------------
Inc. 40.0 41.0 1.0 35.10 20.00
-------------------------------------------------------
58.0 89.0 31.0 1.65 1.65 Lower Pillow Flow
-------------------------------------------------------
130.0 138.0 8.0 4.36 4.36 Lower Pillow Flow
-------------------------------------------------------
181.0 188.0 7.0 4.85 2.02 Lower Massive Flow
-------------------------------------------------------
Inc. 183.0 183.5 0.5 59.56 20.00
-------------------------------------------------------
197.0 227.0 30.0 3.23 1.65 Lower Massive Flow
-------------------------------------------------------
Inc. 197.5 198.0 0.5 114.97 20.00
-------------------------------------------------------
254.0 261.0 7.0 0.96 0.96
-------------------------------------------------------
285.0 292.0 7.0 1.00 1.00
----------------------------------------------------------------------------
DG-07-262 18,300E 66.0 89.0 23.0 1.21 1.21 Lower Pillow Flow
Calcite Zone -------------------------------------------------------
225.0 246.0 21.0 4.06 3.20 Lower Massive Flow
-------------------------------------------------------
Inc. 227.0 228.0 1.0 29.40 20.00
-------------------------------------------------------
Inc. 228.0 229.0 1.0 28.50 20.00
----------------------------------------------------------------------------
DG-07-263 18,340E 63.0 80.0 17.0 0.95 0.95
Calcite Zone -------------------------------------------------------
186.0 193.0 7.0 2.31 2.31
----------------------------------------------------------------------------
DG-07-264 18,540E 73.0 81.0 8.0 1.37 1.37
Calcite Zone -------------------------------------------------------
90.0 166.0 76.0 2.10 1.93 Lower Pillow Flow
-------------------------------------------------------
Inc. 152.0 153.0 1.0 32.00 20.00
-------------------------------------------------------
Inc. 161.0 162.0 1.0 20.50 20.00
-------------------------------------------------------
190.0 199.0 9.0 2.85 2.85 Lower Pillow Flow
-------------------------------------------------------
207.0 214.5 7.5 0.90 0.90
-------------------------------------------------------
288.0 303.5 15.5 1.47 1.47
-------------------------------------------------------
350.0 378.0 28.0 1.56 1.56 Lower Massive Flow
-------------------------------------------------------
389.0 422.0 33.0 0.73 0.73
----------------------------------------------------------------------------
DG-07-266 18,460E 151.0 216.0 65.0 1.87 1.87 Lower Pillow Flow
Calcite Zone -------------------------------------------------------
419.8 431.0 11.2 2.24 1.73 Lower Massive Flow
-------------------------------------------------------
Inc. 419.8 420.3 0.5 31.43 20.00
-------------------------------------------------------
445.0 462.5 17.5 3.38 2.93 Lower Massive Flow
-------------------------------------------------------
Inc. 456.4 456.9 0.5 35.80 20.00
----------------------------------------------------------------------------
DG-07-269 18,580E 122.0 136.0 14.0 0.93 0.93
Calcite Zone -------------------------------------------------------
145.0 155.0 10.0 2.76 2.15 Lower Pillow Flow
-------------------------------------------------------
Inc. 148.8 149.3 0.5 32.24 20.00
-------------------------------------------------------
212.0 220.0 8.0 5.84 4.12 Lower Pillow Flow
-------------------------------------------------------
Inc. 217.0 218.0 1.0 33.80 20.00
-------------------------------------------------------
237.0 244.0 7.0 1.57 1.57
-------------------------------------------------------
273.0 286.0 13.0 0.96 0.96
-------------------------------------------------------
340.5 348.0 7.5 0.85 0.85
-------------------------------------------------------
361.0 368.0 7.0 1.54 1.54
-------------------------------------------------------
376.0 383.0 7.0 0.92 0.92
-------------------------------------------------------
447.0 459.0 12.0 1.86 1.86
----------------------------------------------------------------------------
DG-07-270 18,420E 95.0 148.0 53.0 1.25 1.25 Lower Pillow Flow
Calcite Zone -------------------------------------------------------
178.0 189.0 11.0 6.43 4.04 Lower Pillow Flow
-------------------------------------------------------
Inc. 183.0 183.5 0.5 50.48 20.00
-------------------------------------------------------
Inc. 183.5 184.0 0.5 42.00 20.00
-------------------------------------------------------
206.0 213.0 7.0 1.00 1.00
----------------------------------------------------------------------------
DG-07-272 18,420E No Significant Results
Calcite Zone
----------------------------------------------------------------------------
DG-07-273 18,420E 53.0 62.0 9.0 1.84 1.84
Calcite Zone -------------------------------------------------------
144.0 226.0 82.0 1.29 1.22 Lower Pillow Flow
-------------------------------------------------------
Inc. 212.5 213.0 0.5 30.33 20.00
-------------------------------------------------------
242.0 249.0 7.0 1.46 1.46
-------------------------------------------------------
343.0 352.0 9.0 2.88 2.88 Lower Massive Flow
-------------------------------------------------------
361.0 375.0 14.0 4.19 2.07 Lower Massive Flow
-------------------------------------------------------
Inc. 374.0 375.0 1.0 49.60 20.00
-------------------------------------------------------
393.0 450.0 57.0 1.15 1.15 Lower Massive Flow
----------------------------------------------------------------------------
DG-07-274 18,460E 52.0 69.0 17.0 2.02 2.02 Lower Massive Flow
Calcite Zone -------------------------------------------------------
130.0 137.0 7.0 0.97 0.97
-------------------------------------------------------
175.0 182.0 7.0 1.22 1.22
----------------------------------------------------------------------------
DG-07-278 18,160E 41.0 50.0 9.0 2.56 2.56
Calcite Zone
----------------------------------------------------------------------------
Note: All values above 20 g/t in the composite are reported in the table.
True width is estimated to be 65 to 75% of the drilled length.
Forward-Looking Information
This press release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Specifically, this press release includes forward-looking statements regarding: the Company's planned drilling program and estimate of the quantity and quality of its mineral resources. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. These risks, uncertainties and other factors include, but are not limited to, the uncertainties involved in interpreting geological data and other risks involved in the gold exploration and development industry as well as those risk factors listed in the Company's Annual Information Form (AIF), Item 4.4 - "Description of Business - Risk Factors" filed on SEDAR. Readers are cautioned that the list of factors included in the AIF is not exhaustive of the factors that may affect the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, the following assumptions: the Company's exploration and development activities on the Detour Lake Property will proceed in accordance with the Company's current timetables; and the Company's resource estimates, geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources) and operational and price assumptions on which the resource estimates are based, are accurate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.
Information Concerning Estimates of Mineral Resources
This news release uses the terms 'measured', 'indicated' and 'inferred' resources. Detour Gold advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable."
About Pelangio
Pelangio is a gold exploration company active in the top-ranked mining jurisdictions in the world, Canada and Ghana. Pelangio's main focus is to advance its exploration programs on its premier land position in Ghana totaling 290 square kilometres, located on strike and adjacent to AngloGold Ashanti's Obuasi gold mine.
Pelangio also has a 44.6% equity interest in Detour Gold, which controls the Detour Lake advanced exploration project. The near-term objective of Detour Gold is to advance the Detour Lake project to development and production.
For additional information, please visit our website at www.pelangio.com.
Reliance on Detour Gold and Forward-Looking Statements
The information contained in this press release is a verbatim extract of the press release issued by Detour Gold. Although Pelangio believes the information included in the press release to be generally reliable, the data has not been independently verified and Pelangio does not assume any liability for the accuracy or completeness of such information. Furthermore, as noted above in the verbatim extract, the press release may contain forward-looking information within the meaning of applicable securities laws. Such information includes the statements contained in the verbatim extract regarding Detour Gold's exploration and drilling plans, plans to update the mineral resource and the estimation of mineral resources and are subject to risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The risks include those that are set out above in the verbatim extract and those contained in Detour Gold's annual information form, Item 4.4 - "Description of Business - Risk Factors" filed on SEDAR as noted above. See also, the risks set out in Pelangio's annual information form, management information circular and quarterly and annual management's discussion and analysis. There is no assurance that the forward-looking information contained in the press release will prove to be accurate. Accordingly, readers should not place undue reliance on the forward-looking information. All of the information contained in the press release is qualified by this cautionary statement.
For more information, please contact
Pelangio Mines Inc.Ingrid Hibbard
President & CEO
(905) 875-3828 or Toll Free: 1-877-746-1632
or
Pelangio Mines Inc.
Warren Bates
Vice President Exploration
(905) 875-3828 or Toll Free: 1-877-746-1632
Email: info@pelangio.com
Website: www.pelangio.com
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