Mr. Mario Stifano reports

GALANTAS REPORT ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2023

Galantas Gold Corp. has released its audited annual financial results for the year ended Dec. 31, 2023.

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. The Annual and Special Meeting of the Company is to be held at 11:00 a.m. (Toronto time) on 24th June 2024 at The Canadian Venture Building, 82 Richmond Street East, Toronto, Ontario, M5C1P1, Canada.

Financial Highlights

Highlights of the 2023 audited annual results, which are expressed in Canadian Dollars, are summarized below:

Sales revenue for year ended December 31, 2023 amounted to $ Nil as per the year ended December 31, 2022. Provisional concentrate sales totalled US$ 1,103,532 for 2023 compared to US $ 608,000 for the year 2022. However, until the mine commences commercial production, the net proceeds from concentrate sales are being offset against development assets.

The Net Loss for the year ended December 31, 2023 amounted to $ 8,568,140 (2022: $ 16,633,939) and the cash outflow from operating activities before changes in non-cash working capital for the year ended December 31, 2023 amounted to $ 981,283 (2022: $ 2,254,291).

The Company had a cash balance of $ 2,593,265 at December 31, 2023 compared to $ 1,038,643 at December 31, 2022. The working capital deficit at December 31, 2023 amounted to $ 12,599,514 compared to a working capital deficit of $11,027,964 at December 31, 2022. Current liabilities include financing facilities and loans.

The detailed results and Management Discussion and Analysis (MD&A) are available on www.sedar.com and www.galantas.com and the highlights in this release should be read in conjunction with the detailed results and MD&A. The MD&A provides an analysis of comparisons with previous periods, trends affecting the business and risk factors.

Qualified Person

The financial components of this disclosure has been reviewed by Alan Buckley (Chief Financial Officer) and the production and permitting components by Brendan Morris (COO), and the exploration and geological components by Dr. Sarah Coulter, all qualified persons under the meaning of NI. 43-101. The information is based upon local production and financial data prepared under their supervision.

We seek Safe Harbor.