Mr. Mario Stifano reports

GALANTAS GOLD ENTERS INTO DORE PURCHASE AND A US$10 MILLION ADVANCE PAYMENT FACILITY WITH OCEAN PARTNERS

Galantas Gold Corp., through its subsidiary, Galantas Gold Chile SpA, has entered into a dore purchase contract with Ocean Partners USA Inc. dated Nov. 4, 2026, in respect of dore and refined metal to be produced from the company's Andacollo gold project in Chile.

Mario Stifano, chief executive officer of Galantas, commented: "The dore purchase contract provides Galantas with a commercial framework for the sale of dore from Andacollo gold and access to a potential advance payment facility to support working capital as the company advances Andacollo gold towards production. The arrangement reflects our continued focus on disciplined project development and responsible capital management."

Pursuant to the agreement, the seller will sell to Ocean Partners 100 per cent of the refined gold and silver contained in dore or other acceptable semi-refined product produced from Andacollo gold, subject to the terms and conditions of the agreement. The agreement has an initial term ending on the expiry of three full calendar years after the commencement of commercial production and thereafter automatically extends for successive 12-month periods unless terminated by either party on 12 months notice, which may not be given until two full calendar years after the commencement of commercial production. The price payable for each delivery will be calculated by reference to the payable refined metal content, applicable gold and silver pricing during the agreed quotational period, and the deductions and charges provided for under the agreement, including a transaction fee of $3.50 (U.S.) per troy ounce of gold delivered and a commission equal to one-sixth of 1 per cent.

The agreement also permits the seller to request advance payments from Ocean Partners subject to a maximum of $10.0-million (U.S.) outstanding against future production and subject to the value of recoverable metal on the heap leach pads and the other conditions set out in the agreement. Advances shall bear interest of three-month CME term SOFR (secured overnight financing rate) plus 4.5 per cent, and must be repaid against deliveries of dore or refined metals, or in cash, no later than 120 days after drawdown. Any provisional payment in respect of a delivery of dore will be equal to 95 per cent of the estimated price for the relevant delivery, less any applicable advance payment or fees, and will bear a financing charge based on three-month CME term SOFR plus 2.25 per cent until final settlement. Where an advance payment is made, a special quotational period applies to a fixed number of payable gold ounces, under which Ocean Partners may elect to price those ounces at any LBMA AM or PM gold price between collection of the dore at the mine and the first trading day after outturn at the refinery.

Ocean Partners beneficially owns or exercises control or direction over more than 10 per cent of the outstanding common shares of the company, and is therefore a related party of the company, and Brent Omland, a director of the company, is also the chief executive officer of Ocean Partners. Mr. Omland disclosed the nature and extent of his interest in the agreement to the company's board of directors, and did not participate in the board's deliberations or vote on the approval of the agreement, in accordance with the Canada Business Corporations Act. The disinterested directors of the company consider the terms of the agreement to be fair and reasonable insofar as the company's shareholders are concerned. No special committee was formed in connection with the agreement, and there were no materially contrary views or disagreements expressed by any director in connection with the board's approval of the agreement.

Ocean Partners holds more than 10 per cent of the company's voting rights, and Mr. Omland is a director of both the company and Ocean Partners. Ocean Partners is therefore a related party for the purposes of the Alternative Investment Market Rules for Companies. The agreement is accordingly considered a related-party transaction for the purposes of Rule 13 of the AIM Rules for Companies. Mr. Omland has been excluded from the board's consideration of the agreement. The directors of the company, other than Mr. Omland, having consulted with the company's nominated adviser, consider the terms of the agreement to be fair and reasonable insofar as the company's AIM shareholders are concerned.

In addition, the agreement constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) and TSX Venture Exchange Policy 5.9 as Ocean Partners beneficially owns or exercises control or direction over more than 10 per cent of the outstanding common shares of the company. The company is relying on the exemption from the formal valuation requirement in Section 5.5(b) of MI 61-101, as the company is not listed on a specified market, and the exemption from the minority shareholder approval requirement in Section 5.7(1)(a) of MI 61-101, as the fair market value of the subject matter of, and the consideration for, the agreement, does not exceed 25 per cent of the company's market capitalization, as determined in accordance with MI 61-101.

The purpose and business reasons for the agreement are to establish purchase, pricing and settlement mechanics for dore and refined metals produced from the Andacollo gold heap leach operations and to provide the seller with additional working capital flexibility through the optional advance payment facility. The company expects the agreement to support the commercialization of production from Andacollo gold. Any advance payment will remain subject to the conditions in the agreement, including delivery of acceptable holding certificates, maintenance of the required coverage based on the estimated value of recoverable refined metals and the seller's prior delivery performance. The company does not expect the agreement to affect the percentage of securities of the company beneficially owned or controlled by Ocean Partners or any related party or associated entity of Ocean Partners. The agreement will, however, require the seller to sell to Ocean Partners all refined gold and silver contained in dore or other acceptable semi-refined product produced from the project during the term of the agreement.

About Galantas Gold Corp.

Galantas 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 development of Andacollo gold and exploration at Indiana, both projects located in Chile. 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.