Galantas Gold Corporation Exercise of Warrants (5110B)

TIDMGAL

RNS Number : 5110B

Galantas Gold Corporation

14 February 2022

Exercise of Warrants

February 14, 2022, TORONTO, CANADA - Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) ("Galantas" or the "Company") announces the early exercise of 6,323,333 warrants at an exercise price of CAD$0.40 ("Warrants"), with an additional 1,708,333 Warrants to be exercised by insiders Mario Stifano, CEO of Galantas, and Ocean Partners USA Inc. ("Ocean Partners") following the completion of U.K. share dealing clearance; for current expected gross proceeds of CAD$3,212,666. A total of 18,673,265 CAD$0.40 Warrants from the May 14, 2021 financing remain outstanding and are due to expire on May 14, 2023 (see May 18, 2021 news release).

Mario Stifano commented: "We are pleased to have the continued support of our shareholders as we advance the Omagh Project towards production while also exploring to expand our high-grade resources. The early exercise of Warrants by many of our significant shareholders including Michael Gentile, Melquart Ltd. and Eric Sprott, is a strong endorsement of the potential of our project, while also allowing the Company to maintain a tight capital structure."

6,323,333 Common Shares are expected to be admitted to trading on AIM on February 17, 2022 ("Admission").

Following Admission, the number of Common Shares in issue in the Company will increase to 80,593,801.

About Galantas Gold Corporation

Galantas Gold Corporation is a Canadian public company that trades on the TSX-Venture Exchange and the London Stock Exchange AIM market, both under the symbol GAL. It also trades on the OTCQX Exchange under the symbol GALKF. The Company's strategy is to create shareholder value by operating and expanding gold production and resources at the Omagh Project in Northern Ireland.

Enquiries

Galantas Gold Corporation

Mario Stifano: Chief Executive Officer

Email: [e-mail]

Website: www.galantas.com

Telephone: [phone]

Grant Thornton UK LLP (AIM Nomad)

Philip Secrett, Harrison Clarke, George Grainger, Samuel Littler

Telephone: [phone]

Panmure Gordon & Co (AIM Broker & Corporate Adviser)

Nick Lovering, Hugh Rich, John Prior

Telephone: [phone]

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February 14, 2022 02:00 ET (07:00 GMT)