TORONTO, April 28, 2022 (GLOBE NEWSWIRE) — Galantas Gold Corporation (TSX-V and AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) is pleased to announce the expansion of its license to current exploration. The two areas in County Leitrim, Republic of Ireland, add 47.8 km to the Company’s total exploration land.² 159.4km away² in the Republic of Ireland. The Company also owns a set of exploration lands totaling 437.3 km² in Northern Ireland, where its Omagh Gold project is located.

The Department for Environment, Climate and Communications has granted Flintridge Resources Ltd, a subsidiary of the Company, prospecting licenses for base metals, gold (ore) and silver (ore). for a period of six years, starting April 28, 2022.

The geochemical results derived from the Tellus Border project, combined with the presence of Dalradian age lithologies and the northeast structural trend, indicate that the areas within the prospecting license are promising for base and precious metals. Historical records refer to copper workings, in addition to more recent zinc and lead mining activities; both located in the new license block.

The Company welcomes the opportunity to broaden its focus for future exploration in the Republic of Ireland, while continuing to prioritize exploration efforts near the existing mine site of its Omagh project in Northern Ireland.

Qualified person

The scientific or technical disclosures contained in this press release have been reviewed and approved by Dr. Sarah Coulter, who is considered, by virtue of her training, experience and professional association, to be a qualified person under Regulation 43. -101. Dr. Coulter is not considered independent under NI 43-101 because she is the chief geologist of Galantas Gold Corporation.

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

The information in this announcement is deemed to be inside information as set out in the retained EU law version of the Market Abuse Regulation (EU) No 596/2014 (the “UK MAR”) which forms part of the UK law under the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company’s obligations under section 17 of the UK MAR. As of the publication of this announcement, this privileged information is henceforth considered to be in the public domain.

About Galantas Gold Corporation

Galantas Gold Corporation is a Canadian public company that trades on the TSX Venture Exchange and the AIM market of the London Stock Exchange, both under the symbol GAL. It also trades on the OTCQX exchange under the symbol GALKF. The Company’s strategy is to create shareholder value by operating and developing Northern Ireland’s first gold mine.

Requests

Galantas Gold Corporation
Mario Stifano: Chairman and CEO
Email: [email protected]
Website: www.galantas.com
Telephone: +44 (0)28 8224 1100

Grant Thornton UK LLP (AIM Nomad)
Philip Secrett, Harrison Clarke, George Grainger, Samuel Littler
Telephone: +44(0)20 7383 5100

Panmure Gordon & Co (AIM Broker & Corporate Adviser)
Hugh Rich, John Prior
Telephone: +44(0)20 7886 2500

Forward-looking statements

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including the results of exploration programs in Northern Ireland and the Republic of Ireland. . Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Galantas deems appropriate in the circumstances. . Many factors could cause the actual results, performance or achievements of Galantas to differ materially from those expressed or implied by the forward-looking statements or strategy, including: the volatility of the price of gold; differences between actual and estimated production, actual and estimated metallurgical recoveries and throughputs; mining operational risk, geological uncertainties; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration; dilution; competition; the loss or availability of key employees; additional financing needs; uncertainties regarding planning and other permitting issues; and defective title to mining claims or property. These and other factors that could affect Galantas’ forward-looking statements are discussed in greater detail in the section entitled “Risk Factors” in Galantas’ Management Discussion & Analysis of Galantas’ Financial Statements and elsewhere in documents filed from time to time. with the Canadian Provincial Securities Administrators and other regulatory authorities. These factors should be carefully considered and persons reading this press release should not place undue reliance on any forward-looking statements. Galantas has no intention and undertakes no obligation to update or revise the forward-looking statements contained in this press release, except as required by law.