REG - Galantas Gold Corp - Exploration Licence Granted

Galantas GoldAnnouncement

29/04/2022 07:00

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RNS Number : 7767J  Galantas Gold Corporation  29 April 2022

 

 

 

 

GALANTAS EXPANDS EXPLORATION LICENCE HOLDING

 

April 29, 2022, TORONTO, CANADA - Galantas Gold Corporation (TSX-V & AIM:
GAL; OTCQX: GALKF) ("Galantas" or the "Company") is pleased to announce an
expansion to its current Prospecting Licence holding. The two areas in Co.
Leitrim, Republic of Ireland, bring the Company's total exploration land
package up by 47.8km(2) to 159.4km(2) in the Republic of Ireland. The Company
also holds an exploration land package totalling 437.3km(2) in Northern
Ireland, where its Omagh Gold Project is located.

 

The Department of the Environment, Climate and Communications granted
Flintridge Resources Ltd, a subsidiary of the Company, Prospecting Licences
for base metals, gold (ores of) and silver (ores of) for a period of six
years, beginning April 28, 2022.

 

Geochemical results derived from the Tellus Border Project, combined with the
occurrence of Dalradian-age lithologies and the north-east structural trend,
indicate that the Prospecting Licence areas are prospective for base and
precious metals. Historical records reference copper workings, in addition to
more recent zinc and lead mining activity; both of which are situated within
the new licence block.

 

The Company welcomes the opportunity to expand its future exploration focus in
the Republic of Ireland, while continuing to prioritize exploration efforts
close to the existing mine-site at its Omagh Project in Northern Ireland.

 

Qualified Person

 

Scientific or technical disclosures in this press 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.

 

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, 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
Northern Ireland's first gold mine.

 

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

 

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 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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