Galantas Gold Corporation (TSX-V:GAL) (AIM: GAL) (OTCQX: GALKF) announces the early exercise of 6,323,333 warrants at an exercise price of CAD$0.40, with an additional 1,708,333 Warrants to be exercised by insiders Mario Stifano, CEO of Galantas, and Ocean Partners USA Inc. following the completion of U.K. share dealing clearance; for current expected gross proceeds of CAD$3,212,666. A total of 18,673,265 CAD$0.40 Warrants from the May 14, 2021 financing remain outstanding and are due to expire on May 14, 2023 (see May 18, 2021 news release).

Mario Stifano commented: “We are pleased to have the continued support of our shareholders as we advance the Omagh Project towards production while also exploring to expand our high-grade resources. The early exercise of Warrants by many of our significant shareholders including Michael Gentile, Melquart Ltd. and Eric Sprott, is a strong endorsement of the potential of our project, while also allowing the Company to maintain a tight capital structure.”

6,323,333 Common Shares are expected to be admitted to trading on AIM on February 17, 2022.

Following Admission, the number of Common Shares in issue in the Company will increase to 80,593,801.

About Galantas Gold Corporation

Galantas Gold Corporation is a Canadian public company that trades on the TSX-Venture Exchange and the London Stock Exchange AIM market. It also trades on the OTCQX Exchange. The Company’s strategy is to create shareholder value by operating and expanding gold production and resources at the Omagh Project in Northern Ireland.