Mr. Eric Sprott, a shareholder, reports

ERIC SPROTT ANNOUNCES CHANGES TO HIS HOLDINGS IN GALLEON GOLD CORP

On Oct. 14, 2023, 1.5 million of Eric Sprott's common share purchase warrants of Galleon Gold Corp. (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 2.1 per cent of the outstanding common shares (shares) on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these warrants, Mr. Sprott beneficially owned 13,624,895 shares and two million warrants representing approximately 21.5 per cent of the outstanding shares on a non-diluted basis and approximately 23.8 per cent on a partially diluted basis assuming the exercise of such warrants.

As a result of the warrant expiry, Mr. Sprott now beneficially owns 13,624,895 shares and 500,000 warrants representing approximately 21.5 per cent of the outstanding shares on a non-diluted basis and approximately 22.1 per cent on a partially diluted basis assuming the exercise of such warrants. The warrant expiry resulted in a partially diluted ownership change of greater than 2 per cent and, therefore, the filing of an update to the early warning report.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.