Mr. Mario Stifano reports

GALANTAS GOLD ANNOUNCES $85 MILLION PRIVATE PLACEMENT

Galantas Gold Corp. intends to raise up to $85-million pursuant to a brokered private placement of up to 154,546,000 units of Galantas, on a best effort agency basis, at a price of 55 cents per unit. Canaccord Genuity Corp. will act as sole bookrunner and lead agent in connection with the offering.

Each unit will be composed of one common share of the company and one-half of one Galantas share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one Galantas share for 80 cents for a period of 24 months from the closing date of the financing. The Galantas shares and warrants issuable in connection with the offering will be subject to a statutory hold period in Canada, which extends to four months and one day after the closing of the offering. Starting effective the day after the hold period, in the event that the closing price of the common shares of the company on the TSX Venture Exchange for 10 consecutive trading days exceeds $1, the company may, within five business days of the occurrence of such event, deliver a notice (including by way of a news release) to the holders of warrants accelerating the expiry date of the warrants to the date that is 30 days following the date of such notice.

The company has granted the agent an option, which will permit the agent to sell up to 27,273,000 additional units at the issue price for additional gross proceeds of up to $15-million.

The units will be offer for sale in each of the provinces and territories of Canada in reliance on exemptions from prospectus requirements under applicable securities laws. The units may also be offered for sale in the United States pursuant to available exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended, and in those other jurisdictions outside of Canada and the United States as may be agreed between Galantas and the agent, provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdiction.

The net proceeds from the offering will be used to finance exploration and development work on the Indiana gold and copper project and the Andacollo gold project in Chile, and for general corporate and working capital purposes.

Closing of the offering is expected to occur on May 28, 2026, or such other date as agreed between the company and the agent, and is subject to obtaining the required approvals of the TSX Venture Exchange and satisfaction of customary closing conditions.

Certain insiders of the company are anticipated to participate in the offering, and such participation by insiders will constitute a related-party transaction as defined in Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company intends to rely on exemptions from the formal valuation and minority shareholder requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value of the securities to be issued under the offering, nor the consideration to be paid by insiders of the company will exceed 25 per cent of the company's market capitalization.

About Galantas Gold Corp.

Galantas is a publicly traded gold company focused on the acquisition, development and advancement of gold and copper assets in stable mining jurisdictions. The company is currently advancing the Indiana project in Chile and has entered into a definitive share purchase agreement to acquire the Andacollo project through the acquisition of Sol, subject to applicable approvals and closing conditions. Galantas's strategy is to build long-term shareholder value through disciplined capital allocation, technically rigorous project evaluation and responsible development of high-quality mineral assets.

We seek Safe Harbor.