RCS - Galantas Gold Corp - Galantas' Projects in areas identified by BGS

Galantas GoldAnnouncement

19/04/2023 17:30

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RNS Number : 8162W  Galantas Gold Corporation  19 April 2023

 

GALANTAS GOLD'S NORTHERN IRELAND AND SCOTLAND PROJECTS LOCATED IN AREAS
IDENTIFIED BY BRITISH GEOLOGICAL SURVEY AS PROSPECTIVE FOR CRITICAL RAW
MATERIALS

 

April 19, 2023, TORONTO, CANADA - Galantas Gold Corporation (TSX-V & AIM:
GAL; OTCQX: GALKF) ("Galantas" or the "Company") is pleased to announce that a
new report produced by the British Geological Survey (BGS) for the UK's
Critical Minerals Intelligence Centre (CMIC) has revealed that the UK has the
potential to become a major player in the global critical raw materials
market. The report, titled "Potential for Critical Raw Material Prospectivity
in the UK", identifies areas with critical raw material prospectivity.

 

The report is particularly significant for Galantas, which operates projects
in the UK - the Omagh/Cavanacaw mining and exploration project in Northern
Ireland, and the Gairloch exploration project in Scotland. The report
identifies areas in mid-County Tyrone, Northern Ireland and the area around
Loch Maree near Gairloch, Scotland - where the Company's projects are located
- as having geological prospectivity for graphite, antimony, bismuth,
molybdenum, tellurium, cobalt, manganese, gallium, germanium and indium.

 

Mario Stifano, CEO of Galantas, commented: "Critical raw materials are
essential to the development of many modern technologies, and the UK has a
wealth of untapped mineral resources that could help meet growing global
demand. We are delighted to see the BGS report highlighting the exploration
potential of our Omagh/Cavanacaw and Gairloch projects, and we believe that
these projects can play a key role in unlocking the UK's supply of critical
raw materials, while also providing a boost to the local economy through job
creation and investment.

"We commend this national-scale assessment in support of the UK Critical
Minerals Strategy, which aims to improve the supply chain security of critical
minerals by accelerating the UK's domestic capabilities."

The full report is available on the CMIC website at ukcmic.org.

 

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, 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 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.

 

Enquiries

 

Galantas Gold Corporation

Mario Stifano: Chief Executive Officer

Email: info@galantas.com

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

 

SP Angel Corporate Finance LLP (AIM Broker)

David Hignell, Charlie Bouverat (Corporate Finance)

Grant Barker (Sales & Broking)

Telephone: +44(0)20 3470 0470

 

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 results of exploration and mine
development programs at the Omagh Project and Gairloch Project.
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 believes are appropriate in the circumstances. Many factors
could cause Galantas' actual results, the performance or achievements to
differ materially from those expressed or implied by the forward looking
statements or strategy, including: gold price volatility; discrepancies
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; loss of or availability of key employees;
additional funding requirements; uncertainties regarding planning and other
permitting issues; and defective title to mineral claims or property. These
factors and others that could affect Galantas' forward-looking statements are
discussed in greater detail in the section entitled "Risk Factors" in
Galantas' Management Discussion & Analysis of the financial statements of
Galantas and elsewhere in documents filed from time to time with the Canadian
provincial securities regulators and other regulatory authorities. These
factors should be considered carefully, and persons reviewing this press
release should not place undue reliance on forward-looking statements.
Galantas has no intention and undertakes no obligation to update or revise any
forward-looking statements in this press release, except as required by law.

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