Galleon Gold's 2025 Year in Review and Execution Roadmap for 2026
Galleon Gold's 2025 Year in Review and
Execution Roadmap for 2026
Toronto, Ontario--(Newsfile Corp. - January 7, 2026) - Galleon Gold Corp. (TSXV: GGO) (FSE: 3H90)
("
Galleon Gold
" or the "
Company
") provides a summary of its significant achievements in 2025
highlighted by arranging a comprehensive financing strategy, securing key regulatory approvals and
initiating critical early-stage development activities at its West Cache Gold Project in Timmins, Ontario
(the "
Project
" or "
West Cache
"). These milestones were aimed at de-risking the Project and
establishing solid groundwork for future feasibility studies, moving the Company towards its ultimate goal
of building the next mine in the prolific Timmins gold camp.
2025 Achievements
Fully Funded Bulk Sample Program:
In 2025, Galleon Gold raised $91.5 million in capital, providing full funding for the planned bulk
sample program and positioning the Company to advance the West Cache Project through critical
de-risking and feasibility-level work.
The financing package included $15.5 million in convertible
debentures, $30 million in equity financings, and a $46 million senior secured debt facility.
Regulatory Approval for Bulk Sample:
In April 2025, the Ontario Ministry of Energy and Mines accepted the Company's Closure Plan for
filing, marking a key milestone toward the extraction of an 86,500-tonne bulk sample under an
advanced exploration program. The bulk sample is expected to generate critical data to support
future feasibility studies.
Strategic Investment from Pan American:
As part of the 2025 financings, Pan American Silver Corp. ("
Pan American
") invested $8 million
through an unsecured convertible debt financing, $11.25 million through equity, and also provided
a senior secured debt facility of up to $46 million (the "debt facility"). In parallel, Galleon Gold
signed a Memorandum of Understanding ("
MOU
") with Lake Shore Gold Corp., a subsidiary of
Pan American, for the toll processing of the mineralized material from the planned bulk sample.
Enhanced Project Economics:
The Company drew $11 million from the debt facility and completed the repurchase of a 3% net
smelter return royalty (the "
Royalty
") on West Cache from a wholly-owned subsidiary of Newmont
Corporation ("
Newmont
"). With the Royalty fully extinguished, the West Cache principal resource
area is 100% unencumbered by net smelter return royalties, enhancing long-term economic
potential.
Early Development Activities Initiated:
With funding secured and regulatory approvals in place, the Company commenced tree harvesting,
road building, initial hydro line installation work and surface planning, in preparation for awarding
surface construction and underground contracts in 2026.
2026 Objectives
Advance Surface Infrastructure Development:
Commence and complete surface infrastructure construction, including hydro and power supply,
access roads, administration complex, box cut, and water management systems.
Initiate Underground Development:
Begin underground development, including completing majority of decline and ramping
development required to reach the targeted mineralized material outlined in the Closure Plan for an
86,500-tonne bulk sample.
Execute Targeted Exploration Program:
Initiate an exploration drill program with two-fold strategy:
1
.
Infill drilling to further define the existing resource and potentially convert and expand gold
ounces; and
2
.
Exploration drilling to target and test high-priority unexplored areas outside the current
resource area, identified through geophysics surveys and soil sampling programs, with the
objective of identifying new mineralized zones.
"With Pan American as a strategic investor and several new long-term institutional investors who
supported our financing efforts, we enter 2026 fully funded to execute on strategy and derisk the
development of our West Cache project,"
said
Mr. David Russell, President and Chief Executive
Officer of Galleon Gold.
"
We are in the early stages of fleshing out the full value of the Project, with
less than 10% of the Project drill tested, we believe there are additional ounces of gold to add to the
resource.
"
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/279655