Galantas Gold Announces QME Involvement for Underground Development for Joshua Bain at Omagh Project in Canadian Business Journal

TORONTO, September 15, 2022 (GLOBE NEWSWIRE) — Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) is pleased to announce that its subsidiary, Flintridge Resources Limited, has acquired QME Limited (Ireland). , Navan), as a mining contractor, has developed an access and exploration drive to Joshua Vein at the Omagh Gold Project in Northern Ireland.

QME’s project scope will consist of a total of 600 meters of underground development and is scheduled to start in January 2023. Development to his exploration drive is expected to be completed by May 2023, followed by Joshua Bain’s access drive to his two mining levels in Q3 2023. .

Galantas CEO Mario Stifano commented: This will go a long way towards fully defining the resources of the Joshua Lode and at the same time bringing the Omagh Mine to a stable level of production. With intercepts such as 17.4 grams per tonne of gold and 74.6 grams per tonne of silver at the 13.1 meter crossing, we look forward to continued drilling successes along the new exploration drive in Joshua. “

Figure 1: Longitudinal section of Joshua Vein. Three proposed ‘extension zones’ tend to fall between 24 and 30 degrees.
https://www.globenewswire.com/NewsRoom/AttachmentNg/260ba6b3-6150-45f4-8550-3a3280c0eaeb

Founded in 1985, QME is an experienced mining service provider engaged in mine development and supply of new and remanufactured equipment for underground and open pit mining. QME currently engages in mining contracts in Ireland and Portugal and has experience in mining projects in the Republic of Ireland, Northern Ireland and Scotland. Current and past clients include Tara Mines, Dalradian Gold, Lundin Mining and Barrick Gold.

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

The information contained in this announcement is deemed to constitute inside information under the applicable EU legal version of Market Abuse Regulation (EU) No. 596/2014 (“UK MAR”). European Union (Withdrawal) Act 2018. Information is disclosed pursuant to the Company’s obligations under Section 17 of the UK MAR. By publication of this announcement, this inside information is considered to be in the public domain.

About Galantas Gold Corporation

Galantas Gold Corporation is a publicly traded Canadian company traded on the TSX Venture Exchange and the London Stock Exchange’s AIM market, both trading under the symbol GAL. He is also traded on the OTCQX exchange under the symbol GALKF. Our strategy is to create shareholder value by operating and expanding gold production and resources at his Omagh project in Northern Ireland.

inquiry

Galantas Gold Corporation
Mario Stifano: CEO
Email: [email protected]
Website: www.galantas.com
Phone: +44(0)28 8224 1100

Grant Thornton UK LLP (AIM Nomad)
Philip Secret, Harrison Clarke, George Grainger, Samuel Little
Phone: +44(0)20 7383 5100

Panmure Gordon & Co (AIM Joint Broker & Corporate Advisor)
Hugh Rich, John Prior
Phone: +44(0)20 7886 2500

SP Angel Corporate Finance LLP (AIM Joint Broker)
David Hignell, Charlie Bouverat (Corporate Finance)
Grant Barker (Sales & Broking)
Phone: +44(0)20 3470 0470

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. This includes results of exploration programs and mine development at the Omagh Gold Project. Forward-looking statements have been made by Galantas in the light of its experience and perception of historical trends, current conditions, expected future developments and other factors that Galantas believes are appropriate under the circumstances. Based on estimates and assumptions. Many factors could cause Galantas’ actual results, performance or achievements to differ materially from those expressed or implied by its forward-looking statements or strategies. discrepancies between actual and estimated production, actual and estimated metallurgical recoveries and throughput; Mining operational risk, geological uncertainty. Regulatory limitations, including environmental regulatory limitations and liability. Risk of sovereign involvement. The speculative nature of gold prospecting. dilution; competition; loss or availability of key employees. additional funding requirements; uncertainty about planning and other permitting issues; Defective Rights to Mineral Claims or Property. These and other factors that may affect Galantas’ forward-looking statements are discussed in more detail in the section entitled “Risk Factors” in Galantas’ Management’s Discussion and Analysis of Financial Statements. I’m here. Canadian provincial securities regulators and other regulators. These factors should be considered carefully, and anyone reviewing this press release should not place undue reliance on forward-looking statements. Galantas disclaims any intention or obligation to update or revise any forward-looking statements in this press release, except as required by law.

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