Galleon Gold Announces Warrant Extension
Galleon Gold Announces Warrant Extension
Toronto, Ontario--(Newsfile Corp. - November 25, 2022) - Galleon Gold Corp. (TSXV: GGO) (the
"Company" or "Galleon Gold") announces that the Company will be extending the exercise period of a
total of 3,194 ,317 share purchase warrants, all of which are exercisable at $0.75 per share (collectively,
the "
Warrants
"). The Warrants were issued pursuant to a share for debt agreement which closed on
June 12, 2020. The Company proposes to extend the expiry by one (1) year, and accordingly, the new
expiry date for the warrants will be December 12, 2023.
All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to
acceptance by the TSX Venture Exchange.
About Galleon Gold
Galleon Gold is an exploration and development company focused on advancing the West Cache Gold
Project in Timmins, Ontario. The Project is located 7 km northeast of Pan American Silver's Timmins
West Mine and 14 km southwest of Newmont's Hollinger Mine.
A 2022 Preliminary Economic
Assessment (PEA) for the project demonstrates strong economics.
Detail engineering design and
baseline studies in support of a permit application for an underground bulk sample are underway.
Eric
Sprott holds approximately 21% of the Company's outstanding common shares.
For further information:
Galleon Gold
R. David Russell
Chairman and CEO
T. (416) 644-0066
www.galleongold.com
Investor Relations
Harbor Access
Graham Farrell
T. (416) 842-9003
Forward-Looking Statements
This document contains certain forward-looking statements that reflect the current views and/or
expectations of Galleon Gold with respect to its long-term strategy, proposed work, plans and other
reports including the PEA for its projects. Forward-looking statements are based on the then-current
expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in
which Galleon Gold operates.
Some of the statements contained herein may be forward-looking
statements which involve known and unknown risks and uncertainties. Without limitation, statements
regarding potential mineralization and resources, exploration results, expectations, plans, and objectives
of Galleon Gold are forward-looking statements that involve various risks. The following are important
factors that could cause Galleon Gold's actual results to differ materially from those expressed or implied
by such forward-looking statements: changes in the world-wide price of mineral commodities, general
market conditions, risks inherent in mineral exploration, risks associated with development, construction
and mining operations, risks related to infectious diseases, including Covid-19 and the uncertainty of
future exploration activities and cash flows, and the uncertainty of access to additional capital. There can
be no assurance that forward-looking statements will prove to be accurate as actual results and future
events may differ materially from those anticipated in such statements. Galleon Gold undertakes no
obligation to update such forward-looking statements if circumstances or management's estimates or
opinions should change. The reader is cautioned not to place undue reliance on such forward-looking
statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/145776