Galane Gold Ltd. Announces That B2Gold Has Terminated the Earn-In Option Agreement Relating to Mupane Exploration Properties

TORONTO, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Galane Gold Ltd. (“Galane Gold” or the “Company”) (TSX-V: GG; OTCQB: GGGOF) announces that B2Gold Corp. has provided notice that it is terminating the earn-in option agreement relating to certain of Mupane’s exploration properties in Botswana.

Galane Gold CEO, Nick Brodie commented “B2Gold have identified several targets from their exploration work, none of which meet the size criteria for B2Gold, but all of which could represent significant targets for Galane Gold. Once we have had time to digest all the information that they have created, we will prioritise each of the targets and we expect to put our own exploration programme together to progress them.

In the context of a much higher gold price and greatly improved position for Galane Gold since we originally entered into this option agreement, we are very excited to pursue these opportunities directly as we continue to develop Mupane’s long term plans.”

About Galane Gold

Galane Gold is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana and South Africa. Galane Gold is a public company and its shares are quoted on the TSX Venture Exchange under the symbol “GG” and the OTCQB under the symbol “GGGOF”. Galane Gold’s management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programmes. Galane Gold is committed to operating at world-class standards and is focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates.

Cautionary Notes

Certain statements contained in this press release constitute “forward-looking statements”. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company’s development plan for the Mupane property, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.