Galantas Gold Secures Key Permitting Approvals for Andacollo Gold Project
On Wednesday, August 05, 2026 at 5:40PM ET
Galantas Gold Secures Key Permitting Approvals for
Andacollo Gold Project
TORONTO, ON / ACCESS Newswire / August 5, 2026 / Galantas Gold Corporation (TSXV:GAL)(AIM:GAL) ("Galantas"
or the "Company") is pleased to announce that Chile's National Geology and Mining Service, the Servicio Nacional de Geología
y Minería ("SERNAGEOMIN"), has issued approvals relating to the operational restart of the Company's Andacollo Gold project
(the "Project") in Chile's Coquimbo Region under its previously authorized operating configuration.
The approvals allow Galantas to resume operations under the previously approved mine design, waste-disposal configuration,
heap-leach facilities, operating parameters and safety conditions. The authorized operating period extends for four years from the
commencement of mineral extraction, or until the applicable remaining authorized tonnage or capacity is reached, whichever
occurs first.
Highlights
The SERNAGEOMIN approvals relate to key components of the Project's previously authorized operating configuration:
The Tres Perlas open pit approval identifies approximately 11.3 million tonnes ("Mt") remaining under the previously
authorized mining plan.
The approved waste-rock facilities retain approximately 17.7 Mt of capacity, representing approximately 53% of total
authorized capacity.
The approvals cover the dynamic leach area authorized for leaching in cycles of approximately 2.0 Mt, together with the
Phase VI heap-leach expansion, which retains approximately 3.3 Mt of authorized capacity, representing approximately
64% of its approved capacity.
SERNAGEOMIN also noted that the heap-leach facility has remained stable over time, with no identified signs of
instability.
The Project is permitted for crushing up to 15,000 tonnes per day ("tpd"), and the Company has purchased a like-for-like
replacement three-stage crushing circuit (refer to July 13, 2026 news release).
The existing adsorption, desorption and recovery ("ADR") plant is permitted.
The Project has an approved mine closure plan supported by US$3.5 million of closure-related financial assurance.
Robert Sedgemore, Senior Vice President, Operations of Galantas Gold, commented: "These approvals represent a major
milestone for the Project. They cover the principal mining, waste-disposal and heap-leach components required for the restart of
operations. Together with the Project's established environmental permitting framework and approved closure plan, the principal
approvals required for restart are now in place. We remain focused on completing installation, rehabilitation, commissioning and
operational readiness so production can restart safely, responsibly and efficiently."
The reactivation application relating to Resolution No. 1242/2015 covers the botadero de ripios (leach waste dump), which will
receive spent material removed from the dynamic heap-leach circuit. The application is currently under review, and the Company
expects approval in the coming weeks. Based on the planned operating sequence, the Company does not expect this remaining
approval to delay the commencement of mining, crushing, initial stacking, leaching or gold recovery.
In March 2026, Chile's Environmental Assessment Service confirmed that the Project's existing environmental authorization
applies for a four-year operating period beginning with the commencement of mineral extraction from the Project's pits and
mines.
The Project's closure-related financial assurance consists of a standby letter of credit and a first-demand mine-closure insurance
policy with an aggregate value of US$3.5 million. The insurance component was issued in favour of SERNAGEOMIN in
connection with the guarantee amount established under Exempt Resolution No. 1984/2022.
As part of normal operational planning, the Company expects to apply in advance for the extensions or modifications required to
support continued operations beyond the current authorized period as well as a Phase II operational expansion to 40,000 tpd. Any
expansion would require completion of the applicable technical and environmental studies and receipt of new or modified
permits.
The Company continues to advance engineering, procurement, infrastructure rehabilitation, contractor planning and operational-
readiness activities at Andacollo Gold. The Company also continues to prioritize local employment, contractor participation,
training and procurement opportunities in the town of Andacollo and is working with authorities and community stakeholders to
support an orderly and responsible restart.
The Company has not made a production decision in respect of the Project. Any decision to restart production will be subject to,
among other things, completion of further technical, operational and financial review, availability of financing, completion of
installation, rehabilitation and commissioning activities, receipt of any remaining approvals required at the relevant time, and
formal approval by the Company's board of directors.
COO Resignation
Mr. Brendan Morris, Chief Operating Officer, has resigned from the Company to pursue other opportunities. Mr. Morris will
remain a consultant for Galantas Gold. A replacement Chief Operating Officer will be appointed in due course, at which time a
further announcement will be made.
Qualified Person Statement
The scientific and technical information in this news release has been reviewed and approved by Dorian L. (Dusty) Nicol, a
qualified person for the purposes of NI 43-101. Mr. Nicol is a shareholder of the Company and acts as a special advisor on
exploration to the Company.
About Galantas Gold Corporation
Galantas Gold Corporation is a publicly traded gold and copper company focused on the acquisition, development, and
advancement of gold and copper assets in stable mining jurisdictions. The Company is currently advancing the development of
the Indiana Project and the Andacollo Gold Project in Chile. Galantas' strategy is to build long-term shareholder value through
disciplined capital allocation, technically rigorous project evaluation, and responsible development of high-quality mineral assets.
Enquiries
Galantas Gold Corporation
Mario Stifano: Chief Executive Officer
Email: [email protected]
Website: www.galantas.com
Telephone: +1 416-848-7744
Grant Thornton UK Advisory & Tax LLP (AIM Nomad)
Philip Secrett, Harrison Clarke, Elliot Peters
Telephone: +44(0)20 7383 5100
SP Angel Corporate Finance LLP (AIM Broker)
David Hignell, Charlie Bouverat (Corporate Finance)
Grant Barker (Sales & Brokering)
Telephone: +44(0)20 3470 0470
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking information and forward-looking statements within the meaning of applicable
Canadian securities laws (collectively, "forward-looking information"). Forward-looking information is generally identifiable by
the use of words such as "anticipate", "believe", "expect", "intend", "may", "plan", "will", "would", "could", "should", "estimate",
"forecast", "potential", "continue" and similar expressions, although not all forward-looking information contains these
identifying words. Forward-looking information in this news release includes, but is not limited to, statements about expecting
approval of the reactivation application in the coming weeks, expecting this remaining approval not to delay the commencement
of operations, and expecting to apply in advance for the extensions or modifications required to support continued operations
beyond the current authorized period as well as a Phase II operational expansion to 40,000 tpd.
Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in
this news release is made as of the date of this news release and, except as required by applicable securities laws, the Company
undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future
events or otherwise.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for
the adequacy or accuracy of this news release. The Company is admitted to trading on AIM and accordingly, further disclosure
on the matter can be found on the Company's profile on the London Stock Exchange website.
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained
EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the
European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under
Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the
public domain.
SOURCE: Galantas Gold Corporation