Galantas Report Financial Results for the Year Ended December 31, 2024

TORONTO, April 30, 2025 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (TSX-V & AIM: GAL) (the ‘Company’) is pleased to announce its audited financial results for the year ended December 31, 2024.

A copy of the Financial Statements and Management Discussion and Analysis will be sent to shareholders in due course and are available on the Company’s website at www.galantas.com/investors. 

Financial Highlights

Highlights of the 2024 results, which are expressed in Canadian Dollars, are summarized below:

All figures denominated in Canadian Dollars (CDN$)	Year Ended December 31
		2024		2023
Revenue	$	0	$	0
Cost and expenses of operations	$	(112,568)	$	(182,295)
Loss before the undernoted	$	(112,568)	$	(182,295)
Depreciation	$	(434,912)	$	(515,003)
General administrative expenses	$	(4,611,618)	$	(4,243,507)
Foreign exchange gain (loss)	$	(561,986)	$	(233,651)
Unrealized gain on derivative fair value adjustment	$	1,870,422	$	241,886
(Reversal) / Impairment of property, plant and equipment and exploration and evaluation assets	$	3,250,867	$	(3,635,570)
Write-down of prepaid expenses	$	888,889	$	0
Net (Loss) for the year	$	(1,488,684)	$	(8,568,140)
Working Capital Deficit	$	(16,218,988)	$	(12,599,514)
Cash gain/(loss) from operating activities before changes in non-cash working capital	$	(1,098,038)	$	(1,788,453)
Cash at December 31, 2024	$	525,643	$	2,593,265