Galantas Gold Announces Sampling Program for Gairloch Gold-Bearing VMS Project in Scotland, in Collaboration With University of Edinburgh - Seite 2

Representative footwall, ore horizon and hanging-wall samples from drill core and outcrops have been collected for petrography, mineral chemistry, and whole-rock geochemical analysis. Whole-rock geochemical analysis will be carried out using x-ray fluorescence and inductively coupled plasma mass spectrometry to establish geochemical trends and alteration halos. Mineralogy will be characterized by petrographic observations (transmitted and reflected light petrology, and scanning electron microscopy), coupled with mineral chemical analysis using an electron microprobe at the University of Edinburgh’s Materials and Micro-Analysis Centre. When coupled with whole-rock geochemical data, the EMP data will allow geologists to determine the factors involved in the changes of mineral chemistry. This project will further characterize the alteration mineralogy of the Kerry Road deposit, and aid exploration efforts toward additional discoveries in the regional stratigraphy.

For more information on the Gairloch Project and drill results to date, see Galantas’ press releases dated July 10, 2023; July 27, 2023; August 29, 2023; and October 16, 2023.

Figures 1 & 2: Outcrop of chalcopyrite and pyrrhotite mineralization found 300 metres northwest along trend from the Kerry Road deposit.

Galantas Gold announces marketing contracts

The Company announces that it engaged GRIT Capital Corp (“Grit”) of Toronto, Ontario, to create print advertising campaigns, including in GRIT’s flagship newsletter, a landing page for advertising campaigns and CEO presentations on Twitter spaces, to provide the Company with exposure to potential investors, in accordance with Policy 3.4 – Investor Relations, Promotional and Market-Making Activities of the TSX Venture Exchange (the "Exchange"). The activity undertaken by GRIT occurred in its newsletter at gritcap.io and on a partner’s Twitter account @WOLF_Financial. Grit was engaged in March 2023 for a period of 26 weeks, which arrangements are now complete at a fee of USD$65,000 (plus HST). The USD$65,000 was paid as to USD$5,000 in cash on entering into the agreement and USD$60,000 through the issuance of units. No buying or selling recommendations are made, no price projections on the Company are given and nor do they give any financial advice. The arrangements with Grit were and are an arm’s length relationship with the Company. Grit is operated by Genevieve Sarah Roch-Decter. Pursuant to the arrangements Grit subscribed for and were issued 228,333 common shares (the “Grit Shares”) and 228,333 share purchase warrants (the “Grit Warrants”) (collectively the “Grit Units”) of the Company under the private placement completed by the Company on March 27, 2023. The issuance of the Grit Units has been reviewed by the Exchange pursuant to policy 3.4 which states that compensation in the form of shares is not acceptable and payment should be in the form of cash. The Exchange has requested that the Grit Units be cancelled. Grit agreed that the Grit Warrants issued to them will be cancelled by the Company. Mr. Stifano, the CEO of the Company, has agreed to cancel 228,333 common shares of the Company (“Shares”) owned by him. As of the date hereof, to the Company’s knowledge, after the cancellation of the Shares held by Mr. Stifano and the Grit Warrants, GRIT (including its directors and officers) owns directly or indirectly 228,333 Shares of the Company and does not have any right or intent to acquire any additional Shares of the Company. The 228,333 Shares and 228,333 Grit Warrants were cancelled effectively February 27, 2024.