Mr. Mario Stifano reports

GALANTAS REPORT FINANCIAL RESULTS FOR THE QUARTER ENDED MARCH 31, 2026

Galantas Gold Corp. has released its unaudited financial results for the quarter ended March 31, 2026.

Q1 2026 financial highlights

Highlights of the first quarter 2026 results, which are expressed in Canadian dollars, are summarized below.

Sales revenue for the quarter ended March 31, 2026, amounted to nil, compared with revenue of nil for the quarter ended March 31, 2025. Shipments of concentrate commenced during the third quarter of 2019. Concentrate sales provisional revenues totalled $566,000 (U.S.) for the year 2025, compared with $853,591 (U.S.) for 2024. Until the Indiana mine reaches commercial production, the net proceeds from concentrate sales are being offset against development assets.

The net loss for the quarter ended March 31, 2026, amounted to $2,354,826 (2025: $1,225,116), and the cash outflow from operating activities before changes in non-cash working capital for the quarter ended March 31, 2026, amounted to $2,076,233 (2025: gain of $51,250).

The company had a cash balance of $10,822,694 at March 31, 2026, compared with $729,387 at March 31, 2025. The working capital surplus at March 31, 2026, amounted to $4,961,145, compared with a working capital deficit of $17,274,760 at March 31, 2025.

Subsequent events

On May 4, 2026, Galantas announced an updated mineral resource estimate for the Andacollo project and the filing of the technical report titled "Mineral Resource Estimate Update, Andacollo Oro Gold Project, Coquimbo Region, Chile," with an effective date of Feb. 1, 2026, prepared DRA Americas Inc., in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects.

On May 11, 2026, Galantas announced a brokered private placement aiming to raise up to $85-million through the issue of as many as 154,546,000 units priced at 55 cents each. Every unit will include one common share and one-half of a warrant, with each full warrant exercisable at 80 cents over a 24-month period. The company also granted Canaccord Genuity Corp., the sole bookrunner and lead agent, an option to issue up to an additional 27,273,000 units, which could generate a further $15-million in proceeds. Completion of the financing is targeted for May 28, 2026, subject to approval from the TSX Venture Exchange and other customary closing conditions.

Subsequent to March 31, 2026, the company's issued and outstanding common shares increased by 93,945,716. This increase is attributable to the exercise of 91,297,000 warrants at a price of 12 cents per share, the exercise of 2,609,501 broker warrants at a price of eight cents per share and 39,215 common shares issued on the conversion of convertible debentures at a conversion price of 25.5 U.S. cents per share. Total issued and outstanding common shares as of May 25, 2026, is 552,809,488.

The first quarter 2026 financial statements and management discussion and analysis (MD&A) are available on SEDAR+ and the company's website 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.

About Galantas Gold Corp.

Galantas Gold is a publicly traded gold and copper 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.