Galantas Gold Corporation: Completion of Shares for Debt Exchange

Galantas Gold Corporation (Galantas or the Company) (TSX VENTURE:GAL)(AIM:GAL)
announces that it has received consent from the TSX Venture Exchange for its
proposed share for debt transaction.


The transaction was approved by shareholders on 16th January 2014. As announced
on 8thMay 2014, Roland Phelps (President & Chief Executive) agreed to exchange a
loan of GBPGBP 718,256 for 14,365,120 new ordinary shares. Leo O'Shaughnessy
(Chief Financial Officer) has agreed to exchange a loan of GBPGBP 16,025 for
320,500 new ordinary shares. Amounts due to certain other third party creditors
have also agreed to settlement of amounts owed totalling GBPGBP 21,976, through
the issue of 439,520 new ordinary shares.


Following the Debt Exchange, Mr Phelps and Mr O'Shaughnessy will hold 24.7 per
cent and 0.4 per cent of the Galantas enlarged issued share capital
respectively. The new shares will rank on an equal footing with the existing
share capital save that they are subject to a four month hold (lock-in) period
expiring 1st October 2014.


Application has been made for 15,125,140 ordinary shares to be admitted to
trading on AIM which is expected on 5 June 2014. Following the Debt Conversion,
Galantas Gold Corporation's Issued and Outstanding Shares will total 76,697,156.


Roland Phelps, President & CEO, Galantas Gold Corporation, said, "The
transaction strengthens the Galantas balance sheet and represents a solid
expression of confidence in the Omagh gold project." 


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains
forward-looking statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities
laws, including matters relating to the Omagh Gold project. Forward-looking
statements are based on estimates and assumptions made by Galantas in light of
its experience and perception of historical trends, current conditions and
expected future developments, as well as other factors that Galantas believes
are appropriate in the circumstances. Many factors could cause Galantas' actual
results, the performance or achievements to differ materially from those
expressed or implied by the forward looking statements or strategy, including:
gold price volatility; discrepancies between actual and estimated production,
actual and estimated metallurgical recoveries; mining operational risk;
regulatory restrictions, including environmental regulatory restrictions and
liability; risks of sovereign involvement; speculative nature of gold
exploration; dilution; competition; loss of key employees; additional funding
requirements; planning and other permitting issues; and defective title to
mineral claims or property. These factors and others that could affect
Galantas's forward-looking statements are discussed in greater detail in the
section entitled "Risk Factors" in Galantas' Management Discussion & Analysis of
the financial statements of Galantas and elsewhere in documents filed from time
to time with the Canadian provincial securities regulators and other regulatory
authorities. These factors should be considered carefully, and persons reviewing
this press release should not place undue reliance on forward-looking
statements. Galantas has no intention and undertakes no obligation to update or
revise any forward-looking statements in this press release, except as required
by law. 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Galantas Gold Corporation
Roland Phelps C.Eng
President & Chief Executive
[phone]
[e-mail]
www.galantas.com


Charles Stanley Securities (Nominated Adviser)
Mark Taylor
[phone]