Mr. David Russell reports

GALLEON GOLD RECEIVES EXPLORATION DRILLING PERMIT FOR WEST CACHE GOLD PROJECT

Galleon Gold Corp. has received a new exploration drilling permit from the Ontario Ministry of Mines, Mineral Development Branch, for its 100-per-cent-owned West Cache gold project in Timmins, Ont.

From 2020 to 2023, under the old permit, the company completed 227 drill holes for a total of 50,885 metres. This new permit increases the exploration area to approximately 3,200 hectares and covers the entirety of the company's mining lease No. 110033. The West Cache drill hole database includes 585 holes for a total of 246,700 metres.

Comment from chief executive officer

David Russell, president and CEO of Galleon Gold, commented: "We have spent much of the last year focused on environmental studies, detailed engineering and permitting requirements for the upcoming bulk sample, but we have not lost sight of the vast exploration potential of the overall property package. While we have proven we can add ounces to the current resource with infill and stepout drilling along strike and at depth, we expect continued grassroots exploration will lead to new discoveries."

The West Cache resource area constitutes approximately 10 per cent of the project and while the 2020 to 2023 drill programs focused on infill drilling and geotechnical investigations in support of the company's PEA and planned bulk sample in that area, Galleon Gold aims to initiate additional grassroots exploration programs to the north and south of the previously drilled areas. Interpretation of soil sampling and geophysical surveys indicate potential gold (plus or minus base metal) targets in the South area and along litho-structural trends in Tisdale metavolcanics to the north of Highway 101.

In addition to surface exploration, the company intends to drill from underground during bulk sample development, targeting the strike-dip extension of Zone No. 9 and the South areas, which are 100 metres to the south of the proposed bulk sample workings. Underground investigation of Zone No. 9 may provide invaluable information on any structural controls, geochemical zoning and alteration that could assist with identifying new gold zones elsewhere on the property.

Bulk sample permitting

While an exploration drilling permit is required for grassroots exploration on the property, permitting for test mining requires a separate permitting process. In November, 2023, the company submitted the notice of project status -- Form 1 -- Mining Act, providing notice that the project was moving from exploration to advanced exploration status. By submitting Form 1, the company kicked off the formal process of permitting for an 86,500-tonne bulk sample. In addition, the company submitted the project definition and a draft closure plan to the Ministry of Mines; it is currently awaiting instructions from the Ministry of Mines for the submission of the final draft.

Technical content and qualified person

The technical content of this news release has been reviewed and approved by West Cache gold project manager Leah Page, PGeo, a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Galleon Gold Corp.

Galleon Gold is an advanced exploration and development company focused on the West Cache gold project in Timmins, Ont.

We seek Safe Harbor.