Galleon Gold Completes Repurchase of Royalty on the West Cache Project
Galleon Gold Completes Repurchase of
Royalty on the West Cache Project
Toronto, Ontario--(Newsfile Corp. - December 31, 2025) - Galleon Gold Corp. (TSXV: GGO) (FSE:
3H90) (the "
Company
" or "
Galleon Gold
") is pleased to announce that it has successfully completed
the repurchase of a 3% net smelter return royalty (the "
Royalty
") on the Company's West Cache Gold
Project ("
West Cache
" or the "
Project
") from a wholly-owned subsidiary of Newmont Corporation
("
Newmont
") (Previously announced on October 16, 2025).
Pursuant to the agreement, Galleon Gold has exercised its existing right to repurchase 1% of the Royalty
for $1,000,000 and, concurrently, paid $10,000,000 to acquire the remaining 2% Royalty. Upon closing
of the transaction, the Royalty has been fully extinguished, resulting in West Cache's principal resource
being 100% unencumbered by net smelter return royalties. All amounts are in Canadian dollars.
CEO Comment
David Russell, President and CEO of Galleon Gold, commented, "
We are very pleased to have
successfully completed this transaction with Newmont. As West Cache advances toward
development, the elimination of the Royalty significantly strengthens West Cache's long-term
economics. Completing this repurchase of the NSR at a pre-development stage positions the
Company to create maximum value for Galleon Gold's shareholders as the Project continues to
grow
."
About the Royalty
The Royalty originated from an option agreement dated July 12, 1999, exercised on or about August 17,
2005, under which Placer Dome (CLA) Limited was granted a net smelter return royalty covering mineral
claims that now form part of the West Cache property package. Through a series of historical
transactions, the Royalty was transferred to successor entities, with Newmont, through a wholly-owned
subsidiary, being the holder of the Royalty immediately prior to closing. Galleon Gold, through its wholly-
owned subsidiary Explor Resources Inc., was the payor of the Royalty prior to its repurchase and
extinguishment.
About Galleon Gold
Galleon Gold is advancing the West Cache Gold Project with a disciplined, de-risking strategy centered
on resource growth and an upcoming 86,500-tonne bulk sample program, positioning the Company to
unlock long-term shareholder value. For more information, please visit
www.galleongold.com
.
For further information:
Galleon Gold
R. David Russell
Chairman and CEO
T. (416) 644-0066
Graham Farrell
Investor Relations
T. (416) 842-9003
Forward-Looking Statements
This news release contains certain "forward-looking statements", as defined under applicable Canadian
securities laws, that reflect the current views and/or expectations of Galleon Gold with respect to its long-
term strategy, proposed work, plans, bulk sample program 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 and uncertainty of access to
additional capital, risks inherent in mineral exploration, delays in the receipt of government approvals,
risks associated with development, construction, mining operations and third party contractor activities,
risks related to unanticipated events related to health, safety and environmental matters. 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/279252