January 26, 2023, TORONTO, CANADA – Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) is pleased to announce that it has entered into an agreement (the “Lease Agreement” or the “Agreement”) to acquire a 100% interest and the exclusive rights to explore and develop the Gairloch Project, a 217 km² mineral licence area in Scotland that covers the Gairloch Schist Belt from the owners of the Gairloch Estate lands (the “Lessor”). The Company has acquired exploration and developments rights for an initial payment of £347,000 and annual payments of £69,000 beginning in year 6 (see the Lease Agreement Terms).

Historical Exploration Highlights*:

Drill hole GBH39 intersect of 11.29 grams per tonne (g/t) gold (Au), 2.44 g/t silver (Ag), 0.58% copper (Cu) and 0.19% zinc (Zn) over 16 metres (80 to 96 metres downhole).
Drill hole GBH30 intersect of 3.16 g/t Au, 3.39 g/t Ag, 0.90% Cu and 0.51% Zn over 18 metres (32.82 to 50.82 metres downhole).
Drill hole GBH68 intersect of 1.5 g/t Au, 16.5 g/t Ag, 5.92% Cu and 0.54% Zn over 6 metres (261.88 to 267.88 metres downhole).
District-scale potential with an outcrop tested by the British Geological Survey (BGS) 10 km from historical drilling returning 4 g/t Au, 1.5% Cu and 2.3% Zn.
Elevated levels of cobalt identified in stream sampling and in outcrop up to 410 g/t.
*True widths not known. Historical drill hole data obtained from logs written by Consolidated Gold Fields Limited in 1979 and 1980, scanned copies supplied by the British Geological Survey.

Mario Stifano, CEO of Galantas, commented: “We are excited about this opportunity to secure rights to a highly prospective, 10 km-long gold bearing volcanogenic-massive-sulphide trend that has had very little exploration since the early 1980s, with high-priority targets identified.

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