Mr. Ross Beaty reports

Ross J. Beaty, of Suite 1550, 625 Howe St., Vancouver, B.C., V6C 2T6, pursuant to National Instrument 62-103, the early warning system, and related takeover bid and insider reporting issues, on July 24, 2015, acquired ownership of 16 million units of Galantas Gold Corp. by way of a private placement from treasury in reliance on the accredited investor exemption set out in Section 2.3 of National Instrument 45-106, prospectus and registration exemptions, for a purchase price of 12 cents per unit and a total purchase price of $1.92-million. Each unit consists of one common share of Galantas and one common share purchase warrant of Galantas. Each warrant is exercisable into one common share of Galantas for a period of 12 months from July 24, 2015, at an exercise price of 16 cents.

The common shares purchased represent approximately 14.9 per cent of the total number of issued and outstanding common shares of Galantas. If all of the warrants were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 26.0 per cent of the issued and outstanding common shares of Galantas.

Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Galantas for investment purposes.