REG - Galantas Gold Corp - Update on RDL Transaction and Brokered Financing
22/12/2025 07:00
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RNS Number : 3749M Galantas Gold Corporation 22 December 2025
Galantas Gold Provides Update on Acquisition of RDL Mining Corp. and Brokered
Financing
Not for distribution to U.S. newswire services or dissemination in the United
States
TORONTO, December 19, 2025 -- Galantas Gold Corporation (TSX-V & AIM: GAL;
OTCQB: GALKF) ("Galantas" or the "Company") wishes to provide an update with
respect to its previously announced acquisition (the "Transaction") of all of
the issued and outstanding shares of RDL Mining Corp. ("RDL") and its
previously announced private placement (the "Offering") of units of the
Company (each, a "Unit"), for $0.08 per Unit (the "Offering Price"), led by
Canaccord Genuity Corp. and Haywood Securities Inc. (together, the "Agents").
The Company is working diligently to satisfy remaining closing conditions,
including obtaining approval of the Transaction from the TSX Venture Exchange
(the "TSXV"), and both the Offering and the Transaction are expected to be
completed during 2025. Trading in the common shares of Galantas ("Common
Shares") is currently halted in accordance with TSXV Policy 5.3.
Clarification of the RDL Option
Once the Transaction is completed, Galantas (indirectly through RDL) will hold
an option (the "Option") to acquire a 100% interest in the Indiana gold/copper
project located in Chile (the "Indiana Project"). In order to exercise the
Option, RDL must make payments totaling US$15 million to Minería Indiana
Limitada ("Indiana Limitada"), the current owner of the Indiana Project, over
a period of five years, with the first payment of US$500,000 paid in the
fourth quarter of 2025. The remaining payments consist of US$1 million in
years one and two, US$2 million in years three and four and a final payment of
US$8.5 million in year five (together, the "Option Payments").
Until RDL has exercised the Option, RDL will "lease" the Indiana Project from
Indiana Limitada in exchange for payments as follows:
· If the Indiana Project is in production, the monthly payment is
equivalent to 10% of the net sales of minerals from the mining concessions.
· If the Indiana Project is not in production, the monthly payment
based on net sales will not be paid, and the minimum payment below will be
paid.
· On an annual basis, the minimum payment required is 25% of the Option
Payment due for that year, and the maximum payment required is 50% of the
Option Payment due for that year.
· If the Indiana Project is not in production, minimum payments will
still be payable on an annual basis. As soon as the Option Payments are paid
in full, RDL will no longer need to make any lease payments.
Such payments are made in exchange for access to the Indiana Project and are
not credited as Option Payments.
Historical Mineral Resources
The Company would like to clarify and restate certain technical information
previously provided in respect of the 2013 Technical Report (as defined
below), which was included in the Company's press release dated November 13,
2025. See below for the corrected information.
A historical inferred mineral resource estimate for the Indiana Project(1)
outlines approximately 714,600 ounces of gold equivalent (AuEq)(2), consisting
of approximately 4,546,300 tonnes, averaging 4.89 parts per million (ppm)
AuEq, supported by a technical report (the "2013 Technical Report") prepared
for Minera Activa SpA in accordance with National Instrument 43-101 Standards
of Disclosure for Mineral Projects ("NI 43-101").
The historical inferred mineral resource estimate(2) for the Indiana Project
is contained in the table below.
Vein Estimation Domain Mineralization True Area ('000 m2) Thickness (m) Tonnage (KT) Estimated grades (vein) Estimated grades (vein+halo) Au ounces ('000 oz.)
Vein Vein & halo Vein Vein & halo Au(ppm) Cu(%) Mo (ppm) Au (ppm) Cu(%) Mo (ppm) In vein In vein & halo
Bondadosa WNW Oxides 40.1 0.62 0.62 50.2 50.2 0.50 0 77.00 0.50 0 77.00 0.8 0.8
WNW Sulfides 45.5 0.62 0.62 105.7 105.7 0.50 0 77.00 0.50 0 77.00 1.7 1.7
W Oxides 31.6 0.95 3.12 60.7 228.2 3.40 0.97 185.27 1.15 0.55 72.91 6.6 8.5
W Sulfides 238.5 0.95 3.12 849.7 2.361.0 3.40 0.97 185.27 1.46 0.62 94.03 92.8 110.5
C Oxides 27.1 0.85 3.67 46.5 233.0 1.30 0.81 82.79 0.49 0.31 26.17 1.9 3.7
C Sulfides 144.0 0.85 3.67 323.2 1.436.0 1.30 0.81 82.79 0.52 0.32 28.44 13.5 23.9
E Oxides 21.5 0.98 3.10 42.7 154.1 0.95 1.09 168.07 0.37 0.52 109.97 1.3 1.9
E Sulfides 43.2 0.98 3.10 111.7 362.6 0.95 1.09 168.07 0.42 0.55 112.46 3.4 4.9
Flor de Espino N1 Oxides 12.9 0.85 4.56 26.8 158.8 0.75 0.49 15.00 0.31 0.35 11.03 0.6 1.6
N1 Sulfides 15.2 0.85 4.56 34.1 188.5 0.75 0.49 15.00 0.31 0.35 11.09 0.8 1.9
N Oxides 26.4 0.95 4.94 61.3 351.4 3.45 1.35 23.37 0.94 0.41 17.98 6.8 10.6
N Sulfides 144.1 0.95 4.94 524.2 2.392.5 3.45 1.35 23.37 1.08 0.47 18.48 58.1 82.8
C Oxides 11.3 0.70 4.45 19.3 136.3 0.66 0.43 5.29 0.18 0.17 3.41 0.4 0.8
C Sulfides 67.8 0.70 4.45 125.3 821.9 0.66 0.43 5.29 0.18 0.17 3.39 2.7 4.8
S Oxides 5.9 0.94 4.13 13.4 64.8 4.09 1.18 39.50 1.89 0.65 12.41 1.8 3.9
S Sulfides 10.9 0.94 4.13 39.2 152.0 4.09 1.18 39.50 2.03 0.69 14.09 5.1 9.9
Indian III IN3 Oxides 4.4 0.95 2.70 8.5 27.4 1.88 1.44 87.71 0.88 0.73 56.38 0.5 0.8
IN3 Sulfides 24.5 0.95 2.70 61.3 178.6 1.88 1.44 87.71 0.93 0.76 58.59 3.7 5.3
IN3 Oxides 5.5 0.95 2.70 10.6 34.1 1.88 1.44 87.71 0.88 0.73 56.38 0.6 1.0
IN3 Sulfides 108.1 0.95 2.70 271.0 789.0 1.88 1.44 87.71 0.93 0.76 58.59 16.4 23.6
Rosario ROS Oxides 11.3 0.66 1.17 15.1 29.2 2.68 3.07 102.60 1.49 1.90 59.08 1.3 1.4
ROS Sulfides 245.9 0.66 1.17 428.5 772.2 2.68 3.07 102.60 1.62 2.00 62.33 36.9 40.1
Rucas W Oxides 19.9 0.75 2.01 30.1 91.3 2.92 1.52 86.77 1.23 0.66 42.16 2.8 3.6
W Sulfides 168.3 0.75 2.01 376.1 978.3 2.92 1.52 86.77 1.42 0.79 49.75 35.3 44.7
C Oxides 26.3 0.64 2.44 34.0 149.7 0.66 1.51 35.90 0.31 0.74 19.17 0.7 1.5
C Sulfides 93.5 0.64 2.44 158.0 619.1 0.66 1.51 35.90 0.32 0.74 19.80 3.3 6.3
E Oxides 16.5 0.99 1.63 33.0 58.8 1.76 2.24 15.50 1.32 1.19 12.87 1.9 2.5
E Sulfides 45.5 0.99 1.63 119.0 198.9 1.76 2.24 15.50 1.38 1.28 13.10 6.7 8.8
Subsidiaria Oxides 8.4 0.76 1.64 12.9 30.9 1.05 0.39 27.51 0.51 0.20 15.54 0.4 0.5
Subsidiaria Sulfides 63.3 0.75 1.64 143.5 301.8 1.05 0.30 27.51 0.57 0.22 17.02 4.8 5.5
Teresita TER Oxides 50.2 1.32 3.17 164.3 469.8 2.03 0.19 88.81 0.95 0.17 39.66 10.7 14.3
TER Sulfides 74.0 1.32 3.17 246.2 604.9 2.03 0.19 88.81 1.04 0.17 43.68 16.1 20.2
Total 4.546.30 14.531.20 2.33 1.22 91.56 0.97 0.58 44.56 340.8 452.2
The below table presents the inferred mineral resource estimate(2) in terms of
equivalent gold grade.
Vein Estimation Domain Mineralization True Area ('000 m2) Thickness (m) Tonnage (KT) Estimated grades (vein) E Estimated grades (vein+halo) Au-Eq ounces ('000 oz)
Vein Vein & halo Vein Vein & halo Au-Eq (ppm) Au-Eq (ppm) In vein In vein & halo
Bondadosa WNW Oxides 40.1 0.62 0.62 50.2 50.2 0.54 0.54 0.9 0.9
WNW Sulfides 45.5 0.62 0.62 105.7 105.7 0.54 0.54 1.9 1.9
W Oxides 31.6 0.95 3.12 60.7 228.2 5.5 2.32 10.7 17
W Sulfides 238.5 0.95 3.12 849.7 2361 5.5 2.79 150.2 211.6
C Oxides 27.1 0.85 3.67 46.5 233 3.02 1.14 4.5 8.5
C Sulfides 144 0.85 3.67 323.2 1436 3.02 1.19 31.3 55.2
E Oxides 21.5 0.98 3.1 42.7 154.1 3.28 1.51 4.5 7.5
E Sulfides 43.2 0.98 3.1 111.7 362.6 3.28 1.61 11.8 18.7
Flor de Espino N1 Oxides 12.9 0.85 4.56 26.8 158.8 1.77 1.03 1.5 5.2
N1 Sulfides 15.2 0.85 4.56 34.1 188.5 1.77 1.04 1.9 6.3
N Oxides 26.4 0.95 4.94 61.3 351.4 6.23 1.78 12.3 20.1
N Sulfides 144.1 0.95 4.94 524.2 2392.5 6.23 2.04 105 157.2
C Oxides 11.3 0.7 4.45 19.3 136.3 1.55 0.53 1 2.3
C Sulfides 67.8 0.7 4.45 125.3 821.9 1.55 0.54 6.2 14.2
S Oxides 5.9 0.94 4.13 13.4 64.8 6.54 3.23 2.8 6.7
S Sulfides 10.9 0.94 4.13 39.2 152 6.54 3.45 8.2 16.8
Indian III IN3 Oxides 4.4 0.95 2.7 8.5 27.4 4.89 2.4 1.3 2.1
IN3 Sulfides 24.5 0.95 2.7 61.3 178.6 4.89 2.53 9.6 14.5
IN3 Oxides 5.5 0.95 2.7 10.6 34.1 4.89 2.4 1.7 2.6
IN3 Sulfides 108.1 0.95 2.7 271 789 4.89 2.53 42.6 64.1
Rosario ROS Oxides 11.3 0.66 1.17 15.1 29.2 9.03 5.41 4.4 5.1
ROS Sulfides 245.9 0.66 1.17 428.5 772.2 9.03 5.76 124.4 142.9
Rucas W Oxides 19.9 0.75 2.01 30.1 91.3 6.09 2.61 5.9 7.7
W Sulfides 168.3 0.75 2.01 376.1 978.3 6.09 3.07 73.6 96.7
C Oxides 26.3 0.64 2.44 34 149.7 3.78 1.84 4.1 8.9
C Sulfides 93.5 0.64 2.44 158 619.1 3.78 1.85 19.2 36.7
E Oxides 16.5 0.99 1.63 33 58.8 6.35 3.77 6.7 7.1
E Sulfides 45.5 0.99 1.63 119 198.9 6.35 4 24.3 25.6
Subsidiaria Oxides 8.4 0.76 1.64 12.9 30.9 1.86 0.93 0.8 0.9
Subsidiaria Sulfides 63.3 0.76 1.64 143.5 301.8 1.86 1.03 8.6 10
Teresita TER Oxides 50.2 1.32 3.17 164.3 469.8 2.47 1.31 13.1 19.8
TER Sulfides 74 1.32 3.17 246.2 604.9 2.47 1.42 19.6 27.5
Total 4546.3 14531.2 4.89 2.19 714.6 1.022.40
The Company considers the historical estimate to be relevant as it provides an
indication of the mineral potential of the Indiana Project. However, a
qualified person of Galantas has not done sufficient work to classify this
historical estimate as current mineral resources or mineral reserves, and
Galantas is not treating this historical estimate as current mineral resources
or mineral reserves. Galantas has not verified this information and is not
relying on it. To verify the historical estimate, Galantas will need to
prepare an updated mineral resource estimate and NI 43-101 technical report
with respect to the Indiana Project (the "New Technical Report"). Galantas is
currently preparing the New Technical Report and intends to file it on SEDAR+
upon the completion of the Transaction in accordance with the policies of the
TSXV and applicable securities laws.
Since the date of the 2013 Technical Report, additional exploration has been
conducted on the Indiana Project. Approximately 1,500 meters of exploitation
and exploration drifts have been excavated, mapped and sampled. In addition,
approximately 960 meters of core was drilled in 2020.
Offering Update
The Company intends to rely on the "part and parcel pricing exception"
provided for in the corporate finance policies of the TSXV in relation to
gross proceeds raised that are specifically allocated and necessary for the
Transaction, being $10 million (the "Transaction Funds"). The Offering Price
for any non-Transaction Funds raised under the Offering may need to be
adjusted after the Common Shares resume trading, and therefore closing of the
Offering relating to any non-Transaction Funds will occur at least two
business days after the Common Shares resume trading. Any adjustments to all
or a portion of the Offering will require the approval of the TSXV and will be
announced via a subsequent press release.
The securities offered under the Offering have not been registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any State in which such offer, solicitation or sale would be
unlawful.
Notes
1 "Technical Report Indiana Gold and Copper Project Region III Chile" dated
December 9, 2013, prepared in accordance with NI 43-101 by Dr. Eduardo Magri
for Activa.
2 Gold equivalency based on the following prices: gold US$1,100/oz, copper
US$2.80/lb, molybdenum US$12/lb, and adjusted for the following recovery
rates: gold 75%, copper 88%, molybdenum 60% (e.g., 1 pound copper = (1 x
$2.80) / $1,100 x (88% / 75%) AuEq). Areas, tonnages and metal content are
rounded to the nearest hundred square metres, tonnes and ounces, respectively;
vein thickness is rounded to the nearest centimetre, grades are rounded to two
decimal places. Rounding may result in apparent differences between tonnes,
grade and metal content. Inferred mineral resources were estimated as a global
inferred geological resource using a vein accumulation methodology base on
true widths, with grades estimated using Sichel't estimation due to limited
data density. No cut-off grade was applied to the inferred mineral resource
estimate.
Qualified Person
Scientific and technical disclosures in this news release have been reviewed
and approved by Mr. Gavin Berkenheger, who is considered, by virtue of his
education, experience and professional association, a "qualified person" and
independent under the terms of NI 43-101.
Neither TSXV nor its Regulation Services Provider (as that term is defined in
the policies of the TSXV) accepts responsibility for the adequacy or accuracy
of this news release.
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 OTCQB Exchange under the symbol GALKF. The
Company's strategy is to create shareholder value by 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, Elliot Peters
Telephone: +44(0)20 7383 5100
SP Angel Corporate Finance LLP (AIM Broker)
David Hignell, Charlie Bouverat (Corporate Finance)
Grant Barker (Sales & Brokering)
Telephone: +44(0)20 3470 0470
Forward-Looking Statements
This news 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 terms of the Transaction
and the Offering, the timing of the completion of the Transaction and the
Offering, the potential repricing of the Offering, the details of Option
Payments and the filing of the New Technical Report. 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 news 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 news release, except as required by law.
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