Galantas Gold Provides Progress Update on the Omagh Gold Project Mineral Resource Estimate Update

Galantas Gold Provides Progress Update on the Omagh Gold Project

Mineral Resource Estimate Update

TORONTO, July 04, 2023 -- Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”)

announces that work required to produce an updated NI 43-101-compliant mineral resource estimate at the Company’s Omagh

Gold Project in Northern Ireland (the “Mineral Resource Estimate ”) is ongoing and the Company will provide an update in due

course.

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.

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, and exploring the Gairloch Project hosting the Kerry Road gold-bearing VMS deposit in Scotland.

Enquiries

Galantas Gold Corporation

Mario Stifano: Chief Executive Officer

Email: [email protected]

Website: www.galantas.com

Telephone: +44(0)28 8224 1100

Grant Thornton UK LLP (AIM Nomad)

Philip Secrett, Harrison Clarke, George Grainger, Samuel Littler

Telephone: +44(0)20 7383 5100

SP Angel Corporate Finance LLP (AIM Broker)

David Hignell, Charlie Bouverat (Corporate Finance)

Grant Barker (Sales & Broking)

Telephone: +44(0)20 3470 0470

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 results of exploration and mine development programs

at the Omagh Project and Gairloch 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 and throughputs; mining operational risk, geological uncertainties; regulatory restrictions,

including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold

exploration; dilution; competition; loss of or availability of key employees; additional funding requirements; uncertainties

regarding planning and other permitting issues; and defective title to mineral claims or property. These factors and others that

could affect Galantas’ 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.