Mr. Mario Stifano reports

GALANTAS GOLD TO COMMENCE NEW SURFACE EXPLORATION DRILLING AT THE OMAGH GOLD PROJECT

Galantas Gold Corp. has commenced a new surface drilling program at the Omagh gold project in Northern Ireland in early July.

Following a meeting of the Fermanagh and Omagh District Council (FODC) planning committee on June 21, 2023, the company has permitted development rights to commence drilling of eight exploration holes at the Omagh project site. The holes will target gaps and areas of the inferred resource at the main Joshua vein, including an additional predicted dilation zone, which has potential for higher widths of mineralization. The dilation zones identified to date at the Joshua vein, located approximately 400 metres from the other main Kearney vein, are expected to be incorporated into mine planning and future mine development, including potential plans to drill Joshua from underground to advance mining and resource expansion.

Earlier results of drilling associated with dilation zones include the following core intersections:

• 21.2 grams per tonne gold over 2.1 metres of core in hole OM-DD-12-122 (see Galantas's news release dated Oct. 29, 2012);
• 12.4 g/t Au over 5.6 metres of core in hole OM-DD-13-147 (see Galantas's news release dated Aug. 27, 2013);
• 8.4 g/t Au over 26.6 metres of core in hole OM-DD-12-103 (see Galantas's news release dated June 11, 2012).

Mario Stifano, chief executive officer of Galantas, commented: "We are excited to mobilize the drill to embark on this new phase of exploration as we transition from underground drilling to surface drilling. Information gathered during this drill program will be critical in helping us optimize the mine plan and potentially add high-grade ounces to production."

Qualified person

Scientific and technical disclosures in this news release have been reviewed and approved by Dr. Sarah Coulter, who is considered, by virtue of her education, experience and professional association, a qualified person under the terms of National Instrument 43-101. Dr. Coulter is not considered independent under NI 43-101 as she is the chief geologist of Galantas Gold.

About Galantas Gold Corp.

Galantas Gold is a Canadian public company that trades on the TSX Venture Exchange and the London Stock Exchange Alternative Investment Market, both under the symbol GAL. It also trades on the OTCQX exchange under the symbol GALKF. The company's strategy is to create shareholder value by operating and expanding gold production and resources at the Omagh project in Northern Ireland and exploring the Gairloch project hosting the Kerry Road gold-bearing VMS (volcanogenic massive sulphide) deposit in Scotland.

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