Mr. Mario Stifano reports

GALANTAS GOLD ANNOUNCES GEOPHYSICAL RESULTS FOR KEY EXPLORATION TARGET AREA AND PLANNING APPROVAL FOR NEW DRILLING PROGRAM AT THE JOSHUA VEIN AT OMAGH PROJECT

Galantas Gold Corp. has released the results of a recent gradient array induced polarization (IP) and resistivity geophysical survey five kilometres west of the Cavanacaw gold mine at the Omagh project in County Tyrone, Northern Ireland.

The company is also pleased to have recently received full planning permission to drill eight boreholes from three locations within the mine site. The holes will target a southern portion of the main Joshua vein.

Mario Stifano, chief executive officer of Galantas, commented: "It's exciting to note that a strong north-south-trending resistor was identified at the Cornavarrow target, with a similar signal to that generated over a gold-bearing structure close to the mine in 2021. Cornavarrow represents an exciting target that has never previously been drilled and would be key in helping us to glean the wider potential of the gold district.

"We're also keen to continue drilling at the main Joshua vein which runs broadly parallel to and some 450 metres west of the other main Kearney vein. Positive drilling results from the last few years have delineated trends of dilation zones, which have potential for higher widths of mineralization. Testing the downdip potential of the dilation zones at Joshua could aid in resource expansion and ultimately add to the Omagh mine's production capacity."

The effectiveness of the IP method for defining mineralization targets in this terrain was tested by the company in 2021 when it ran a similar survey over the Elkins vein. An apparent resistivity IP anomaly aligned north-south coinciding with known mineralization (see Galantas's news release dated Dec. 1, 2021). Another IP survey was completed over the Pigeon Top target (1.5 kilometres west of the mine site) in 2021 and also identified a strong north-south-trending resistor over 500 metres, coinciding with base-of-till gold anomalies. The Elkins, Pigeon Top and Cornavarrow targets are shown in Figure 1 and are situated along a six-kilometre strike. According to consulting geophysicist Graham Reid of BRG Ltd., the geophysical anomalies identified during those earlier surveys most likely represent fault structures in the bedrock. North-trending faults are a prime exploration target as these are the structures that host mineralization on the mine site.

In January, 2024, Galantas commissioned an IP survey grid over a 1.4-square-kilometre area at the Cornavarrow target. Cornavarrow lies five kilometres west of the Cavanacaw gold mine. The area was explored by RioFinex in the late 1980s. Gold and base metal anomalies were recorded for float rock and stream sediments at that time; significantly, a small vein exposure was also identified Cornavarrow Burn East showing. A 2003 technical report by ACA Howe contained an intersection grading 1.15 grams per tonne (g/t) gold, 4.2 g/t silver and 1,366 g/t lead over 1.5 metres in width across the portion of visible vein and stated that "what is visible at Cornavarrow Burn East showing could be the edge of higher-grade mineralization which is not exposed." Subsequent exploration by Galantas geologists recorded 3.5 g/t gold for a chipped sample of outcrop.

The eastern margin of the 900-metre northerly trending resistor lies 100 metres west of the in situ vein mineralization. BRG Ltd. theorized that the Cornavarrow resistor may represent a zone of increased silicification within the mapped psammites. Galantas geologists have noted silicification associated with gold-bearing quartz veins at Cavanacaw.

The target area sits largely within the Cavanacaw member, a competent lithology just north of a thrust fault. The structural setting is therefore similar to that at the mine site. No diamond drilling has been conducted in the area to date.

Qualified person

Scientific and technical disclosures in this press 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 AIM 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 deposit in Scotland.

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