Mr. Kenneth Berry reports

GALACTIC GOLD TO OPTION STURGEON BRIDGE PROPERTIES; CONTIGUOUS WITH THE HARDROCK WEST PROPERTIES IN ONTARIO

Galactic Gold Corp. has entered into an option agreement to acquire a 100-per-cent undivided interest in 74 contiguous mining claims, the Sturgeon Bridge claims (37 units), the March mineral claims (eight units), the Kenogamisis prospect claims (two units) and the Mag extension (27 units), also known as the Sturgeon Bridge properties, in the Geraldton township in the province of Ontario, representing a total area of approximately 11,600 hectares.

Transaction details

Galactic has the exclusive right and option to earn a 100-per-cent interest in the Sturgeon Bridge properties by providing the optionors with consideration in the form of cash and common shares in the capital of Galactic, as set forth in the attached table.

Pursuant to the agreement, the optionors will transfer the properties to the company upon payment of the final cash consideration payable on the third anniversary of the agreement and will retain a 2-per-cent net smelter return (NSR) on the Sturgeon Bridge properties. Galactic shall have the exclusive right and option to purchase a 1-per-cent royalty of the NSR royalty for $1-million at any time after earning a 100-per-cent interest and retain a first right of refusal on the remaining 1-per-cent NSR royalty. The optionors are arm's length to the company and the transaction remains subject to the approval of the TSX Venture Exchange, and standard closing conditions for transactions of this nature.

Sturgeon Bridge property description

Gold mineralization at the Sturgeon Bridge properties (MDI42E11NW00003) was first discovered in 1934 and a five-hole drill program consisting of 395 metres (m) was completed in 1955, which intersected light to heavy pyrite and chalcopyrite mineralization in a zone of sheared greenstone with numerous quartz stringers (MDI42E11NW00003). Kodiak Exploration Ltd. completed 2,565 m in nine diamond drill holes on the property in 2008. Assay highlights from the 2008 program are taken from the Kodiak Exploration diamond drill report (file ID No. 20000004143) and include:

• 2.53 grams per tonne (g/t) gold (Au) over 1.6 m in SB08-03;
• 1.75 g/t Au and 9.56 g/t silver (Ag) over 3.8 m in SB08-05;
• 66.7 g/t Au over 0.3 m in SB08-13;
• 1.19 g/t Au over 4.3 m in SB08-14.

MDI42E11NW00003 describes the main zone at Sturgeon Bridge as striking approximately 240 degrees with a variable width from six to 23 m along a 490 m strike length. At one point along a 48 m north-trending trench, visible gold was found within brecciated portions of the quartz veins (MDI42E11NW00003).

Although gold is the primary commodity, polymetallic quartz veining occurs with the structure and patches of chalcopyrite were observed in quartz-breccia zones that contain 1,045 parts per million (ppm) zinc (Zn) in a gossan zone in the eastern exposure (Mason and White, 1992). Surface grab samples returned 1,211 ppm copper (Cu) and 43 ppm Zn from 91-MFC-7, and 240 ppm Cu and 1,045 ppm Zn from 91-MFC-9 (MDI42E11NW00003).

Prospecting by Onchulenko and Gehrels in 2018 returned 6.5 g/t Au and the mineralized zone has been traced for over two km strike length on the property (MDI42E11NW00003).

Qualified person

Jason Arnold, PGeo, president of DCX Geological Consulting and an independent qualified person as such term is defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release. The qualified person has not completed sufficient work to verify the historical sampling on the property and historical results reported may not be representative of expected results.

About Galactic Gold Corp.

Galactic Gold is a resource development company focused on unlocking the full potential of its 100-per-cent-owned Hardrock West property, located in the top-tier mining jurisdiction of Ontario. Galactic Gold is positioned between Equinox Gold greenstone mine and Equinox's Brookbank deposit along what Laurentian University in its metal earth research has identified superstructures across the Galactic gold property underscoring the project's strong value-creation potential.

We seek Safe Harbor.