Galantas Gold Corporation (TSX-V:GAL) (AIM: GAL) (OTCQX: GALKF) is pleased to announce results for a hole drilled from an underground platform within the second level of the Kearney Vein development at the Omagh Project in Northern Ireland.

Hole FR-DD-23-UG-193 intersected 19.8 grams per tonne gold and 11.3 g/t silver over 1.7 metres targeting the Kearney B-lens (see Table 1 and Figure 1). This is the most northerly intersection in the latest underground drill program, and provides important information on the course and continuity of mineralization outside the main Kearney Vein.

A new surface drilling program is underway at Omagh to test a predicted dilation zone at the Joshua Vein which has potential to host higher widths of mineralization (see Galantas’ news release dated June 22, 2023).

Mario Stifano, CEO of Galantas, commented: “Our drill program continues to yield positive results, improving our understanding of the high-grade gold mineralization below the Omagh mine. We’re pleased with the outcome of this final underground hole at the main Kearney Vein as we transition our drill program from underground to surface to target the other main Joshua Vein and potentially add to the number of dilation zones previously delineated from historical drilling. We look forward to reporting on these drill results as they become available.”

Table 1: Summary of drill results.

Notes:

1. Drill holes were HQ size and drilled using a triple tube method to maximize core recovery. The samples were analyzed (gold by fire assay and other metals by ICP-ORE) at ALS Laboratory Ltd (ISO 17025) of Galway, Ireland.
2. Intersect vertical depth intervals are from ground surface to the top of the mineralized zone.
3. Data has been rounded to 1 decimal place.
4. All assays are reported without application of a top cut.

Figure 1: Part of a split section of drill core from hole FR-DD-23-UG-193 grading 72.4 g/t Au and 38 g/t Ag over a 0.36-metre core length.

Qualified Person and Quality Assurance and Control

Scientific and technical disclosures in this news release have been reviewed and approved by Dr. Sarah Coulter, who is considered, by virtue of her education, experience and professional association, a Qualified Person under the terms of NI 43-101. Dr. Coulter is not considered independent under NI 43-101 as she is the Chief Geologist of Galantas Gold Corporation.

Galantas Gold operates according to rigorous internal Quality Assurance and Quality Control protocols with respect to the insertion of blanks, standards and duplicates into the sample stream prior to dispatch to ALS Laboratory, which are consistent with industry best practices. The QP has reviewed the QA/QC results in relation to these drill results and is satisfied that the results as reported are reliable.

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the “UK MAR”) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company’s obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now 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 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, and exploring the Gairloch Project hosting the Kerry Road gold-bearing VMS deposit in Scotland.