# Pelangio Exploration Inc. Announces an Updated Mineral Resource Estimate for Its Manfo Gold Project, Ghana Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508 Original source: https://money.tmx.com/en/quote/PX/news/6278346019135913/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its- Publisher: tmx Original announcement: 2025-08-20T22:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Pelangio Exploration Inc. - Ticker: PX - Exchange: TSX - Region: Ghana - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-09-14 19:14:23 UTC Narrative sentiment: 0.30 · Bullish ## Minestarters Atlas summary Pelangio Exploration Inc. announced an updated Mineral Resource Estimate for its Manfo Gold Project in Ghana, effective July 31, 2025. The estimate reports 441,000 ounces of gold in the Indicated category \(1.16 g/t Au\) and 396,000 ounces in the Inferred category \(0.77 g/t Au\). This represents a significant increase in contained gold ounces compared to the 2013 estimate, primarily due to a higher gold price assumption and lower cut-off grades, which also resulted in lower average grades. The update includes a new deposit, Nkansu, and the company plans further drilling to upgrade and expand the resource. Reasoning: The updated resource shows substantial growth in contained gold ounces and an improved M&I percentage, which are positive for project scale and confidence. However, the lower average grades and the reliance on a significantly higher gold price and lower cut-off grades for the increase temper the overall positive impact. The addition of a new deposit and plans for further drilling are positive for future potential. - Positive factor: Significant increase in contained gold ounces \(126% Indicated, 395% Inferred\) compared to the prior estimate, indicating substantial growth in the resource base. - Positive factor: Upgrade in resource confidence with 52.6% of the total resource now in the Measured and Indicated categories. - Positive factor: Addition of a fourth deposit \(Nkansu\) to the resource, expanding the project's footprint. - Positive factor: The resource estimate is NI 43-101 compliant and signed off by independent Qualified Persons. - Negative factor: Average gold grades decreased significantly \(24% Indicated, 30% Inferred\) compared to the prior estimate. - Negative factor: The increase in contained metal is largely driven by a higher gold price assumption \($2,600/oz vs $1,450/oz\) and lower cut-off grades, which includes lower-grade material. - Negative factor: A substantial portion of the resource \(396,000 oz\) remains in the Inferred category, requiring further drilling to upgrade confidence. - Negative factor: The prior 2013 estimate is explicitly stated as not compliant with current CIM standards, making direct comparison challenging despite the provided figures. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 46 ## Classification and evidence **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: The updated resource shows a 197% increase in Indicated tonnage and a 612% increase in Inferred tonnage compared to the prior estimate. Evidence · table > 197 Context: % Increase / Decrease **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: The updated resource shows a 126% increase in Indicated contained gold and a 395% increase in Inferred contained gold compared to the prior estimate. Evidence · table > 126 Context: % Increase / Decrease **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The Indicated mineral resource and the Inferred mineral resource are reported in accordance with Canadian Securities Administrators National Instrument 43-101. Evidence · text > The Indicated mineral resource and the Inferred mineral resource are reported in accordance with Canadian Securities Administrators National Instrument 43-101 – Standards of Disclosure for Mineral Projects **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The Mineral Resource estimate was prepared by independent Qualified Persons Simon Meadows Smith and Andrew Netherwood of SEMS Technical Services Ltd. Ghana. Evidence · text > The Mineral Resource estimate was prepared by independent Qualified Persons Simon Meadows Smith \(FIMMM \# 49627\) and Andrew Netherwood \(MAusIMM \#100463\) of SEMS Technical Services Ltd. Ghana **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document announces an 'Updated Mineral Resource Estimate' for the Manfo Gold Project. Evidence · text > Pelangio Exploration Inc. Announces an Updated Mineral Resource Estimate for Its Manfo Gold Project, Ghana **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. Why it applies: A new model was created for the Nkansu deposit, which was largely drilled after the 2013 Maiden Resource, adding a fourth deposit to the Manfo total Resource. Evidence · text > A new model was created for the Nkansu deposit, which was largely drilled after the 2013 Maiden Resource, adding a fourth deposit to the Manfo total Resource. **Grade Decline** Polarity: negative Definition: Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: The average gold grade decreased by 24% for Indicated and 30% for Inferred compared to the 2013 estimate. Evidence · table > -24 Context: % Increase / Decrease **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: The 2025 estimate utilizes lower gold grade cut-off values \(0.25/0.35 g/t Au\) compared to 2013 \(0.40/0.50 g/t Au\). Evidence · text > gold cut-off grades were decreased from 2013 with 0.25 g/t Au for the oxides and 0.35 g/t Au for the transitional and fresh resource material \(the majority of the resource\) used in the 2025 Resource estimation versus 0.40 g/t Au for oxides and 0.50 g/t Au for transitional and fresh used in 2013. **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A significant portion of the updated resource, 396,000 ounces, is in the Inferred category, which has a lower level of confidence. Evidence · text > 396,000 ounces of gold at an average grade of 0.77 g/t Au and totalling 16,048,000 tonnes. **Historical Estimate Only** Polarity: negative Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. Why it applies: The 2013 Mineral Resource Estimate is explicitly stated as not compliant with today's CIM standards. Evidence · text > The 2013 Mineral Resource Estimate is not disclosed in a manner compliant with today's CIM standards. ## Extracted facts Stored fact records: 46. Some facts used in scoring do not have a stored record. ## Resource Estimates (46) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-0) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:163b5d199b0b8df1c6db - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 55000 - Grade: 1.3 - Grade Unit: g/t - Contained Metal: 2 - Contained Unit: koz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 - Prior Cutoff Grade: 0.4 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small indicated oxide resource, contributing minimally to the overall project scale. The grade is moderate for an open pit oxide resource. - Negative factor: Low tonnage and contained metal for an indicated resource. Evidence · table > 55 Context: Oxide #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.25 against 0.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-1) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:2ddeda7e6994157d9de3 - Mining method: open\_pit - Material type: transitional - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 458000 - Grade: 1.7 - Grade Unit: g/t - Contained Metal: 25 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 - Prior Cutoff Grade: 0.5 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small indicated transition resource, contributing moderately to the overall project scale. The grade is good for an open pit resource. - Negative factor: Relatively small tonnage and contained metal for an indicated resource. Evidence · table > 458 Context: Transition #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.35 against 0.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-2) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:75aebd590237a3afc44e - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 11274000 - Grade: 1.14 - Grade Unit: g/t - Contained Metal: 414 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 - Prior Cutoff Grade: 0.5 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This fresh rock component represents the majority of the indicated resource, contributing significantly to the project's scale and confidence. The grade is moderate for an open pit resource. - Positive factor: Significant tonnage and contained metal, forming the bulk of the indicated resource. - Positive factor: Good grade for an open pit fresh rock resource. Evidence · table > 11,274 Context: Fresh #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.35 against 0.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-3) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:590da95bcabd772969cf - Mining method: open\_pit - Material type: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 11787000 - Grade: 1.16 - Grade Unit: g/t - Contained Metal: 441000 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 - Prior Tonnes: 3973000 - Prior Grade: 1.52 - Prior Contained Metal: 195 - Prior Cutoff Grade: 0.4 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: The total indicated resource shows strong growth in contained metal and tonnage, which is a positive for project scale. However, the grade dilution and the reliance on lower cut-off grades due to a higher gold price assumption are notable factors. - Positive factor: Significant increase in indicated contained gold \(126%\) and tonnage \(197%\) compared to the prior estimate, demonstrating substantial resource growth. - Positive factor: The overall indicated resource is of moderate scale \(441 koz\) and grade \(1.16 g/t Au\) for an open pit project. - Negative factor: Average grade decreased by 24% compared to the prior estimate, indicating dilution. - Negative factor: Lower cut-off grades were used, contributing to the tonnage increase but also the grade dilution. Evidence · table > 11,787 Context: Totals #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 11787000 against 3973000 previously **Grade Decline** Polarity: negative Definition: Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 1.16 against 1.52 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 441000 against 195 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.25 against 0.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-4) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:ceaa5ace2fd968c702c9 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1024000 - Grade: 0.69 - Grade Unit: g/t - Contained Metal: 23 - Contained Unit: koz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 - Prior Cutoff Grade: 0.4 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small inferred oxide resource with a weak grade for an open pit, contributing minimally to the overall project scale. - Negative factor: Low grade and contained metal for an inferred resource. Evidence · table > 1,024 Context: Oxide #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.25 against 0.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-5) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:9868b505d6cae76a8bd1 - Mining method: open\_pit - Material type: transitional - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2017000 - Grade: 0.79 - Grade Unit: g/t - Contained Metal: 51 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 - Prior Cutoff Grade: 0.5 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small inferred transition resource with a weak grade for an open pit, contributing moderately to the overall project scale. - Negative factor: Relatively small tonnage and contained metal for an inferred resource. Evidence · table > 2,017 Context: Transition #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.35 against 0.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-6) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:b8dc8d986304b58de43c - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 13007000 - Grade: 0.77 - Grade Unit: g/t - Contained Metal: 322 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 - Prior Cutoff Grade: 0.5 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This fresh rock component represents the majority of the inferred resource, contributing significantly to the project's scale. However, the grade is weak for an open pit resource. - Positive factor: Significant tonnage and contained metal, forming the bulk of the inferred resource. - Negative factor: Weak grade for an open pit fresh rock resource. Evidence · table > 13,007 Context: Fresh #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.35 against 0.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-7) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:62609ac393b695c1bc9a - Mining method: open\_pit - Material type: Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 16048000 - Grade: 0.77 - Grade Unit: g/t - Contained Metal: 396000 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 - Prior Tonnes: 2253000 - Prior Grade: 1.1 - Prior Contained Metal: 80 - Prior Cutoff Grade: 0.4 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: The total inferred resource shows very strong growth in contained metal and tonnage, which is positive for project scale. However, the significant grade dilution and the lower confidence category are important considerations. - Positive factor: Very significant increase in inferred contained gold \(395%\) and tonnage \(612%\) compared to the prior estimate, demonstrating substantial resource growth. - Positive factor: The overall inferred resource is of moderate scale \(396 koz\). - Negative factor: Average grade decreased by 30% compared to the prior estimate, indicating significant dilution. - Negative factor: Lower cut-off grades were used, contributing to the tonnage increase but also the grade dilution. - Negative factor: Inferred resources have a lower level of confidence and cannot support economic studies alone. Evidence · table > 16,048 Context: Totals #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 16048000 against 2253000 previously **Grade Decline** Polarity: negative Definition: Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.77 against 1.1 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 396000 against 80 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.25 against 0.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-8) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:9cbec17225968ce042d8 - Deposit or zone: Pokukrom East - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 41000 - Grade: 0.69 - Grade Unit: g/t - Contained Metal: 1 - Contained Unit: koz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a very small indicated oxide resource within Pokukrom East, with a weak grade, contributing minimally to the overall resource. - Negative factor: Very low tonnage and contained metal for an indicated resource. - Negative factor: Weak grade for an open pit oxide resource. Evidence · table > 41 Context: Pokukrom East #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-9) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:24895f609c1c8a6e4ec9 - Deposit or zone: Pokukrom East - Mining method: open\_pit - Material type: transitional - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 302000 - Grade: 1.06 - Grade Unit: g/t - Contained Metal: 10 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small indicated transition resource within Pokukrom East, with a moderate grade, contributing modestly to the overall resource. - Negative factor: Low tonnage and contained metal for an indicated resource. Evidence · table > 302 Context: Pokukrom East #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-10) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:1b5da37fc2f53ba933e3 - Deposit or zone: Pokukrom East - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 10970000 - Grade: 1.11 - Grade Unit: g/t - Contained Metal: 391 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This fresh rock component is the largest part of the indicated resource for Pokukrom East, providing significant scale and confidence. The grade is moderate for an open pit resource. - Positive factor: Significant tonnage and contained metal, forming the bulk of the indicated resource for Pokukrom East. - Positive factor: Good grade for an open pit fresh rock resource. Evidence · table > 10,970 Context: Pokukrom East #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-11) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:e076b825a022fa4b07ba - Deposit or zone: Pokukrom East - Mining method: open\_pit - Material type: Sub-total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 11313000 - Grade: 1.11 - Grade Unit: g/t - Contained Metal: 402000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: Pokukrom East is the primary contributor to the indicated resource, demonstrating significant scale and moderate grade, which is a key positive for the project. - Positive factor: Pokukrom East is the largest deposit, accounting for 91% of the total Indicated resource. - Positive factor: Moderate scale \(402 koz\) and grade \(1.11 g/t Au\) for an open pit indicated resource. Evidence · table > 11,313 Context: Pokukrom East #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-12) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:b205d211c48f699144f2 - Deposit or zone: Pokukrom East - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 474000 - Grade: 0.65 - Grade Unit: g/t - Contained Metal: 10 - Contained Unit: koz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small inferred oxide resource within Pokukrom East, with a weak grade, contributing minimally to the overall resource. - Negative factor: Low tonnage and contained metal for an inferred resource. - Negative factor: Weak grade for an open pit oxide resource. Evidence · table > 474 Context: Pokukrom East #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-13) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:bbb4453ddf59accadaed - Deposit or zone: Pokukrom East - Mining method: open\_pit - Material type: transitional - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 922000 - Grade: 0.79 - Grade Unit: g/t - Contained Metal: 23 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small inferred transition resource within Pokukrom East, with a weak grade, contributing modestly to the overall resource. - Negative factor: Relatively small tonnage and contained metal for an inferred resource. Evidence · table > 922 Context: Pokukrom East #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-14) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:92f51372af9e772b954f - Deposit or zone: Pokukrom East - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 9482000 - Grade: 0.74 - Grade Unit: g/t - Contained Metal: 225 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This fresh rock component is a large part of the inferred resource for Pokukrom East, providing significant scale. However, the grade is weak for an open pit resource. - Positive factor: Significant tonnage and contained metal, forming a large portion of the inferred resource for Pokukrom East. - Negative factor: Weak grade for an open pit fresh rock resource. Evidence · table > 9,482 Context: Pokukrom East #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-15) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:b3268c8117c1de5736ec - Deposit or zone: Pokukrom East - Mining method: open\_pit - Material type: Sub-total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 10878000 - Grade: 0.74 - Grade Unit: g/t - Contained Metal: 258000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: Pokukrom East is the largest contributor to the inferred resource, providing significant scale. However, the weak grade and lower confidence category are important considerations. - Positive factor: Pokukrom East accounts for 65% of the total Inferred resource. - Positive factor: Moderate scale \(258 koz\) for an open pit inferred resource. - Negative factor: Weak grade \(0.74 g/t Au\) for an open pit inferred resource. Evidence · table > 10,878 Context: Pokukrom East #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-16) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:22839e39376678974428 - Deposit or zone: Pokukrom West - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 14000 - Grade: 3.06 - Grade Unit: g/t - Contained Metal: 1 - Contained Unit: koz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a very small indicated oxide resource within Pokukrom West, but it boasts a high grade, which is a positive quality indicator. - Positive factor: High grade for an open pit oxide resource. - Negative factor: Very low tonnage and contained metal for an indicated resource. Evidence · table > 14 Context: Pokukrom West #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-17) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:c8d9c36ab08495cd807d - Deposit or zone: Pokukrom West - Mining method: open\_pit - Material type: transitional - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 156000 - Grade: 2.95 - Grade Unit: g/t - Contained Metal: 15 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small indicated transition resource within Pokukrom West, but it has a high grade, which is a positive quality indicator. - Positive factor: High grade for an open pit transition resource. - Negative factor: Low tonnage and contained metal for an indicated resource. Evidence · table > 156 Context: Pokukrom West #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-18) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:cc0697de6b203749df63 - Deposit or zone: Pokukrom West - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 304000 - Grade: 2.31 - Grade Unit: g/t - Contained Metal: 23 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small indicated fresh rock resource within Pokukrom West, but it has a strong grade, which is a positive quality indicator. - Positive factor: Strong grade for an open pit fresh rock resource. - Negative factor: Low tonnage and contained metal for an indicated resource. Evidence · table > 304 Context: Pokukrom West #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-19) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:62077ec55b461db60f12 - Deposit or zone: Pokukrom West - Mining method: open\_pit - Material type: Sub-total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 474000 - Grade: 2.54 - Grade Unit: g/t - Contained Metal: 39 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: Pokukrom West, while small, stands out for its high average grade in the indicated category, which is a strong positive quality indicator for this specific deposit. - Positive factor: Pokukrom West is the highest grade of the four deposits, with a strong average grade \(2.54 g/t Au\) for an open pit indicated resource. - Negative factor: Relatively small scale \(39 koz\) for an indicated resource. Evidence · table > 474 Context: Pokukrom West #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-20) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:04c6a44324272fb2767b - Deposit or zone: Pokukrom West - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 43000 - Grade: 2.05 - Grade Unit: g/t - Contained Metal: 3 - Contained Unit: koz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a very small inferred oxide resource within Pokukrom West, but it has a strong grade, which is a positive quality indicator. - Positive factor: Strong grade for an open pit oxide resource. - Negative factor: Very low tonnage and contained metal for an inferred resource. Evidence · table > 43 Context: Pokukrom West #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-21) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:c4dbbe24364c648971a6 - Deposit or zone: Pokukrom West - Mining method: open\_pit - Material type: transitional - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 136000 - Grade: 1.27 - Grade Unit: g/t - Contained Metal: 6 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small inferred transition resource within Pokukrom West, with a moderate grade, contributing modestly to the overall resource. - Positive factor: Moderate grade for an open pit transition resource. - Negative factor: Low tonnage and contained metal for an inferred resource. Evidence · table > 136 Context: Pokukrom West #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-22) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:d4ef4169b8c28a88717b - Deposit or zone: Pokukrom West - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 237000 - Grade: 1.96 - Grade Unit: g/t - Contained Metal: 15 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small inferred fresh rock resource within Pokukrom West, but it has a strong grade, which is a positive quality indicator. - Positive factor: Strong grade for an open pit fresh rock resource. - Negative factor: Low tonnage and contained metal for an inferred resource. Evidence · table > 237 Context: Pokukrom West #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-23) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:e629951e5fb6a14d4fcd - Deposit or zone: Pokukrom West - Mining method: open\_pit - Material type: Sub-total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 417000 - Grade: 1.75 - Grade Unit: g/t - Contained Metal: 23 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: Pokukrom West's inferred resource, while small, has a strong average grade, which is a positive quality indicator for this specific deposit. - Positive factor: Strong average grade \(1.75 g/t Au\) for an open pit inferred resource. - Negative factor: Relatively small scale \(23 koz\) for an inferred resource. Evidence · table > 417 Context: Pokukrom West #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-24) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:908de8d61ce69e02dab2 - Deposit or zone: Nfante West - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 355000 - Grade: 0.67 - Grade Unit: g/t - Contained Metal: 8 - Contained Unit: koz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small inferred oxide resource within Nfante West, with a weak grade, contributing minimally to the overall resource. - Negative factor: Low tonnage and contained metal for an inferred resource. - Negative factor: Weak grade for an open pit oxide resource. Evidence · table > 355 Context: Nfante West #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-25) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:c3d1feafabd960e4bef5 - Deposit or zone: Nfante West - Mining method: open\_pit - Material type: transitional - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 675000 - Grade: 0.77 - Grade Unit: g/t - Contained Metal: 17 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small inferred transition resource within Nfante West, with a weak grade, contributing modestly to the overall resource. - Negative factor: Low tonnage and contained metal for an inferred resource. - Negative factor: Weak grade for an open pit transition resource. Evidence · table > 675 Context: Nfante West #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-26) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:801aa936b86bac6047fb - Deposit or zone: Nfante West - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1612000 - Grade: 0.75 - Grade Unit: g/t - Contained Metal: 39 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a small inferred fresh rock resource within Nfante West, with a weak grade, contributing modestly to the overall resource. - Negative factor: Low tonnage and contained metal for an inferred resource. - Negative factor: Weak grade for an open pit fresh rock resource. Evidence · table > 1,612 Context: Nfante West #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-27) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:00c5537a9cbc7b434433 - Deposit or zone: Nfante West - Mining method: open\_pit - Material type: Sub-total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2642000 - Grade: 0.74 - Grade Unit: g/t - Contained Metal: 63 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: Nfante West's resource is entirely inferred, indicating lower confidence, and has a weak grade and small scale, making it a less material component of the overall resource. - Negative factor: Relatively small scale \(63 koz\) for an inferred resource. - Negative factor: Weak grade \(0.74 g/t Au\) for an open pit inferred resource. - Negative factor: The resource is entirely Inferred due to wider spaced drilling and lower demonstrated grade continuity. Evidence · table > 2,642 Context: Nfante West #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-28) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:5e909dc1feb665f5f911 - Deposit or zone: Nkansu - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 152000 - Grade: 0.49 - Grade Unit: g/t - Contained Metal: 2 - Contained Unit: koz - Cutoff Grade: 0.25 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a new, small inferred oxide resource within Nkansu, with a weak grade, contributing minimally to the overall resource. Its novelty is high as a new deposit. - Positive factor: Nkansu is a new addition to the total resource at Manfo. - Negative factor: Very low tonnage and contained metal for an inferred resource. - Negative factor: Weak grade for an open pit oxide resource. Evidence · table > 152 Context: Nkansu #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-29) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:1bcc164f6373be2c163e - Deposit or zone: Nkansu - Mining method: open\_pit - Material type: transitional - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 284000 - Grade: 0.6 - Grade Unit: g/t - Contained Metal: 5 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a new, small inferred transition resource within Nkansu, with a weak grade, contributing modestly to the overall resource. Its novelty is high as a new deposit. - Positive factor: Nkansu is a new addition to the total resource at Manfo. - Negative factor: Low tonnage and contained metal for an inferred resource. - Negative factor: Weak grade for an open pit transition resource. Evidence · table > 284 Context: Nkansu #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-30) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:501a884e7186a316ea23 - Deposit or zone: Nkansu - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1676000 - Grade: 0.81 - Grade Unit: g/t - Contained Metal: 43 - Contained Unit: koz - Cutoff Grade: 0.35 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This is a new, small inferred fresh rock resource within Nkansu, with a weak grade, contributing modestly to the overall resource. Its novelty is high as a new deposit. - Positive factor: Nkansu is a new addition to the total resource at Manfo. - Negative factor: Low tonnage and contained metal for an inferred resource. - Negative factor: Weak grade for an open pit fresh rock resource. Evidence · table > 1,676 Context: Nkansu #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-31) Manfo Gold Project · gold #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Effective date: 2025-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Simon Meadows Smith, Andrew Netherwood - Resource group id: resource:636957b80939ac7de1f6 - Deposit or zone: Nkansu - Mining method: open\_pit - Material type: Sub-total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2111000 - Grade: 0.76 - Grade Unit: g/t - Contained Metal: 51 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-07-31 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: Nkansu is a new inferred resource, adding to the project's overall scale, but its entirely inferred nature and weak grade indicate lower confidence and materiality at this stage. - Positive factor: Nkansu is a new addition to the total resource at Manfo, representing new potential. - Positive factor: Moderate scale \(51 koz\) for an inferred resource. - Negative factor: Weak grade \(0.76 g/t Au\) for an open pit inferred resource. - Negative factor: The resource is entirely Inferred due to wider spaced drilling and lower demonstrated grade continuity. Evidence · table > 2,111 Context: Nkansu #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-32) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:27ccaa3dd9f5ef6c1c3b - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 49000 - Grade: 0.96 - Grade Unit: g/t - Contained Metal: 2 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical indicated oxide resource is very small with a weak grade, and its non-compliant nature reduces its credibility. - Negative factor: Very low tonnage and contained metal for an indicated resource. - Negative factor: Weak grade for an open pit oxide resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 49 Context: Inside Pit #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-33) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:d6c828ae50be92689b1c - Material type: transitional #### Resource Data - Category: indicated - Tonnes: 382000 - Grade: 1.96 - Grade Unit: g/t - Contained Metal: 24 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical indicated transitional resource is small but has a strong grade. However, its non-compliant nature reduces its credibility. - Positive factor: Strong grade for an open pit transitional resource. - Negative factor: Low tonnage and contained metal for an indicated resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 382 Context: Inside Pit #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-34) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:27fb7008d2aa6084476d - Material type: fresh #### Resource Data - Category: indicated - Tonnes: 3543000 - Grade: 1.49 - Grade Unit: g/t - Contained Metal: 169 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical indicated fresh rock resource is of moderate scale and grade. However, its non-compliant nature reduces its credibility. - Positive factor: Moderate tonnage and contained metal for an indicated resource. - Positive factor: Moderate grade for an open pit fresh rock resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 3,543 Context: Inside Pit #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-35) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:b3f5a0392f3865a09f10 - Material type: Total #### Resource Data - Category: indicated - Tonnes: 3973000 - Grade: 1.52 - Grade Unit: g/t - Contained Metal: 195000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical total indicated resource is of moderate scale and grade. However, its non-compliant nature significantly reduces its credibility and relevance for current evaluation. - Positive factor: Moderate scale \(195 koz\) and grade \(1.52 g/t Au\) for an open pit indicated resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 3,973 Context: Inside Pit #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-36) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:659b215f4d1eea3c3e28 - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 458000 - Grade: 1.07 - Grade Unit: g/t - Contained Metal: 16 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical inferred oxide resource is small with a moderate grade, but its non-compliant nature and inferred category reduce its credibility. - Negative factor: Low tonnage and contained metal for an inferred resource. - Negative factor: Moderate grade for an open pit oxide resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 458 Context: Inside Pit #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-37) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:5d90490777f893f44ee5 - Material type: transitional #### Resource Data - Category: inferred - Tonnes: 876000 - Grade: 1.13 - Grade Unit: g/t - Contained Metal: 32 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical inferred transitional resource is small with a moderate grade, but its non-compliant nature and inferred category reduce its credibility. - Negative factor: Low tonnage and contained metal for an inferred resource. - Negative factor: Moderate grade for an open pit transitional resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 876 Context: Inside Pit #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-38) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:32d56490df335a2abc9c - Material type: fresh #### Resource Data - Category: inferred - Tonnes: 918000 - Grade: 1.09 - Grade Unit: g/t - Contained Metal: 32 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical inferred fresh rock resource is small with a moderate grade, but its non-compliant nature and inferred category reduce its credibility. - Negative factor: Low tonnage and contained metal for an inferred resource. - Negative factor: Moderate grade for an open pit fresh rock resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 918 Context: Inside Pit #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-39) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:32d8796b0fcbca43a1a2 - Material type: Total #### Resource Data - Category: inferred - Tonnes: 2253000 - Grade: 1.1 - Grade Unit: g/t - Contained Metal: 80 - Contained Unit: koz #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical total inferred resource is small and in a lower confidence category. Its non-compliant nature further reduces its credibility and relevance for current evaluation. - Negative factor: Small scale \(80 koz\) for an inferred resource. - Negative factor: Moderate grade \(1.1 g/t Au\) for an open pit inferred resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 2,253 Context: Inside Pit #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-40) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:b4279eb95e074fa61e78 - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 50000 - Grade: 0.68 - Grade Unit: g/t - Contained Metal: 1 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical inferred oxide resource, located outside the pit, is very small with a weak grade, and its non-compliant nature reduces its credibility. - Negative factor: Very low tonnage and contained metal for an inferred resource. - Negative factor: Weak grade for an open pit oxide resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 50 Context: Outside Pit #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-41) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:d9a54549ed22cf9cea3d - Material type: transitional #### Resource Data - Category: inferred - Tonnes: 217000 - Grade: 0.72 - Grade Unit: g/t - Contained Metal: 5 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical inferred transitional resource, located outside the pit, is small with a weak grade, and its non-compliant nature reduces its credibility. - Negative factor: Low tonnage and contained metal for an inferred resource. - Negative factor: Weak grade for an open pit transitional resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 217 Context: Outside Pit #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-42) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:7932f5a4aab11203f2c0 - Material type: fresh #### Resource Data - Category: inferred - Tonnes: 7146000 - Grade: 0.93 - Grade Unit: g/t - Contained Metal: 213 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical inferred fresh rock resource, located outside the pit, is of significant scale but has a weak grade, and its non-compliant nature reduces its credibility. - Positive factor: Significant tonnage and contained metal for an inferred resource. - Negative factor: Weak grade for an open pit fresh rock resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 7,146 Context: Outside Pit #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-43) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:c31175a33e8a0dba7d72 - Material type: Total #### Resource Data - Category: inferred - Tonnes: 7413000 - Grade: 0.92 - Grade Unit: g/t - Contained Metal: 218 - Contained Unit: koz #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical total inferred resource, located outside the pit, is of moderate scale but has a weak grade and is in a lower confidence category. Its non-compliant nature further reduces its credibility. - Positive factor: Moderate scale \(218 koz\) for an inferred resource. - Negative factor: Weak grade \(0.92 g/t Au\) for an open pit inferred resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 7,413 Context: Outside Pit #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-44) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:b3f5a0392f3865a09f10 - Material type: Total #### Resource Data - Category: indicated - Tonnes: 3973000 - Grade: 1.52 - Grade Unit: g/t - Contained Metal: 195000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical combined indicated resource is of moderate scale and grade. However, its non-compliant nature significantly reduces its credibility and relevance for current evaluation. - Positive factor: Moderate scale \(195 koz\) and grade \(1.52 g/t Au\) for an open pit indicated resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 3,973 Context: Grand Total #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pelangio-exploration-inc-announces-an-updated-mineral-resource-estimate-for-its--be28242f-defd-40d5-aa98-94ed37a98508#fact-resource-facts-45) Manfo Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Manfo Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: PX #### Resource scope - Estimate type: resource - Reporting standards: other - QP Signed: No - Resource group id: resource:f6cd75a2fb1c55e70028 - Material type: Total #### Resource Data - Category: inferred - Tonnes: 9666000 - Grade: 0.96 - Grade Unit: g/t - Contained Metal: 298 - Contained Unit: koz #### Prior Estimate - Resource Date: 2013-05-17 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2013-05-17T00:00:00.000Z #### Dates - Event date: 2025-08-20T00:00:00.000Z Reasoning: This historical combined inferred resource is of moderate scale but has a weak grade and is in a lower confidence category. Its non-compliant nature further reduces its credibility. - Positive factor: Moderate scale \(298 koz\) for an inferred resource. - Negative factor: Weak grade \(0.96 g/t Au\) for an open pit inferred resource. - Negative factor: This is a historical estimate not compliant with current standards. Evidence · table > 9,666 Context: Grand Total #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.