Galore Provides Corporate Update ON DOS Santos Project Concessions, Legal Developments, Concession Regularization and Shareholder Financing
GRI: TSX-V
GALOF: OTCQB
Mailing Address: 2701 Little Elm Parkway, Suite 100 #512 | Little Elm, Texas, USA | 75068
Tel: (210) 860-9212 | Fax: (604) 648-8894 | www.galoreresources.com
FOR IMMEDIATE RELEASE June 11, 2026
GALORE PROVIDES CORPORATE UPDATE ON DOS SANTOS PROJECT
CONCESSIONS, LEGAL DEVELOPMENTS, CONCESSION REGULARIZATION
AND SHAREHOLDER FINANCING
Vancouver, BC – June 11, 2026 – Galore Resources Inc. ("Galore" or the "Company") is pleased to
provide shareholders with a comprehensive update regarding the status of the Dos Santos Project located
in Zacatecas, Mexico, including recent legal developments, concession regularization activities, financing
arrangements, and actions undertaken to preserve and advance the Company's mineral property interests.
DISCLOSURE CONTEXT
The Company recognizes the importance of timely and accurate disclosure to shareholders. Various matters
affecting the Dos Santos Project have evolved over an extended period and have involved ongoing legal
proceedings, administrative reviews, concession duty obligations, financing requirements, and discussions
with governmental authorities.
As previously disclosed in the Company's Management Discussion and Analysis for the nine months ended
December 31, 2025, dated March 2, 2026, management has been active ly addressing a number of
concession-related, administrative, legal, and financing matters affecting portions of the Dos Santos Project.
While aspects of these matters have been disclosed through the Company's continuous disclosure record,
management believed it was important to first obtain a comprehensive independent legal review of the
concession portfolio and complete certain concession regularization activities before providing
shareholders with a broader update.
Accordingly, the Company commissioned RB Abogados, corporate counsel to Galore Resources Inc. and
general legal counsel to Minerales Galore S.A. de C.V., to conduct a comprehensive legal title review of
the Dos Santos Project concession portfolio. That review was completed on May 7, 2026.
In addition, the Company successfully completed the regularization of six key concessions through payment
of concession duties current through the First Semester of 2026. Management believes the combination of
the legal title review, court developments, concession regularization efforts, and related financing activities
now provides a more complete factual basis upon which to update shareholders.
Throughout this period, management's primary objective remained the preservation of the Company's
assets, concession rights, and long -term shareholder interests while addressing a number of legal,
administrative, operational, and financing challenges affecting the project.
RECENT DEVELOPMENTS
Management believes several material developments have occurred since the Company's March 2, 2026
disclosure, including:
• Completion of the RB Abogados Legal Title Report;
• A favorable court judgment regarding the Sta. Fe 3 concession;
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Mailing Address: 2701 Little Elm Parkway, Suite 100 #512 | Little Elm, Texas, USA | 75068
Tel: (210) 860-9212 | Fax: (604) 648-8894 | www.galoreresources.com
• Continued advancement of administrative proceedings relating to Sta. Fe 4 Fracc. 2;
• Progress in addressing registration matters affecting Los Gemelos I and Duende 7;
• The successful regularization of six key concessions through payment of concession duties current
through the First Semester of 2026; and
• Financial support provided by an ex isting shareholder to assist in preserving important project
assets.
LEGAL TITLE REPORT
RB Abogados completed a comprehensive Legal Title Report dated May 7, 2026 regarding the Dos Santos
Project concession portfolio. The report was prepared following a re view of records maintained by the
Mexican Mining Bureau ("MMB"), the Public Registry of Mines ("PRM"), assignment agreements, court
filings, and related concession documentation.
The legal review confirmed the status of the Company's concessions and provided legal opinions regarding
ownership rights, assignment agreements, court proceedings, and available administrative remedies.
STA. FE 3
On March 7, 2025, Minerales Galore filed a nullity action seeking revocation of cancellation of the Sta. Fe
3 concessio n (Title No. 233935) which occurred March 7, 2025 due to mining duty payments being
outstanding and unpaid. However, we did not receive evidence of any official notice of non-payment issued
by the Mexican Mines Bureau, nor any official notice initiating the cancellation process.
On October 29, 2025, the Federal Administrative Court issued a favorable judgment regarding Sta. Fe 3.
Minerales Galore is currently awaiting completion of the related administrative implementation process
before the PRM.
Sta. Fe 3 comprises approximately 9,761 hectares and includes the La Palma target area, one of the principal
exploration targets within the Dos Santos Project.
STA. FE 4 FRACC. 2
Minerales Galore has filed both an Administrative Appeal (Recurso de Revisión) before the MMB and an
Annulment Demand before the Administrative Federal Court regarding the cancellation of Sta. Fe 4 Fracc.
2 (Title No. 233865) which occurred June 26, 2024 due to mining duty payments being outstanding a nd
unpaid. However, we did not receive evidence of any official notice of non-payment issued by the MMB,
nor any official notice initiating the cancellation process.
These proceedings remain pending and unresolved. No assurance can be gi ven regarding the timing or
outcome of these matters.
LOS GEMELOS I AND DUENDE 7
As part of its review of the Dos Santos Project concession portfolio, RB Abogados identified that Los
Gemelos I (Title No. 216788) and Duende 7 (Title No. 226581) currently appear in the records of the PRM
under the name of a third party. In this review, legal counsel discovered a third party had acted fraudulently,
filing falsified documentation with the PRM, transferring registration of these titles.
The most important fact is the distinction between registered ownership and beneficial ownership. The
Company is presently pursuing discussions with officials of the MMB and the PRM in an effort to resolve
these matters through available administrative processes.
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Mailing Address: 2701 Little Elm Parkway, Suite 100 #512 | Little Elm, Texas, USA | 75068
Tel: (210) 860-9212 | Fax: (604) 648-8894 | www.galoreresources.com
According to RB Abogados, the Assignment Agreement entered into between Minerales Galore and Mr.
Ezequiel Agüero Zamudio on June 7, 2011 remains valid, binding, and enforceable under Mexic an law.
The legal report further notes that Minerales Galore obtained a favorable judgment on June 30, 2025
regarding the prior denial of registration relating to the assignment agreement.
Based upon its review, RB Abogados has advised the Company that sufficient legal grounds exist to pursue
cancellation of the current registration of Los Gemelos I and Duende 7 and registration of those concessions
in the name of Minerales Galore, subject to compliance with applicable administrative requirements. The
Company intends to then initiate litigation regarding the matter, however, no assurance can be provided
regarding the outcome or timing of these efforts.
CONCESSION REGULARIZATION
The Company is pleased to report that six strategically important concessions have now been brought
current through the First Semester of 2026.
The concessions include:
• Carbonerillas (Title 218125)
• San José (Title 218126)
• Los Gemelos I (Title 216788)
• Duende 4 (Title 218328)
• Duende 5 (Title 218329)
• Duende 7 (Title 226581)
Management believes the regularization of these concessions represents a significant milestone in
preserving and strengthening the Company's concession portfolio.
SHAREHOLDER FINANCING
In the most recent quarter, the Company entered into a loan agreement with an existing shareholder (the
“Lender”) pursuant to which the Lender agreed to provide financing in the amount of US$150,000 for the
purpose of preserving key concessions within the Dos Santos Project.
The loan bears interest at a rate of 12% per annum and matures one year from the date of advancement of
the loan. Funds associated with the loan and were utilized in connection with concession preservation and
regularization activities.
The Company's Mexican advisors simult aneously pursued reductions in applicable surcharges associated
with the concession obligations. Following completion of that process, concession duty payments relating
to the six concessions identified above were completed on May 26, 2026, bringing those concessions current
through the first quarter of 2026.
Subject to acceptance by the TSX Venture Exchange and applicable securities laws, the Company has
agreed to issue to the Lender a bonus of 1,500,000 share purchase warrants exercisable into 1,500,000
common shares at a price of CAD$0.10 per common share (“Bonus Warrants”).
The Bonus Warrants and common shares issuable thereunder will be subject to a hold period under
applicable securities laws, which hold period will expire four months plus one day from the date of issuance
of the Bonus Warrants.
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Mailing Address: 2701 Little Elm Parkway, Suite 100 #512 | Little Elm, Texas, USA | 75068
Tel: (210) 860-9212 | Fax: (604) 648-8894 | www.galoreresources.com
PROJECT STATUS AND OUTLOOK
Management believes the developments outlined in this release represent meaningful progress toward
reducing historical uncertainties affecting portions of the Dos Santos Project.
The Company remains focused on:
• Protecting and preserving its concession portfolio;
• Completing remaining concession regularization efforts;
• Advancing discussions with government authorities regarding concession registration matters;
• Pursuing strategic financing opportunities;
• Evaluating potential partnership and joint venture opportunities; and
• Advancing exploration activities across the Dos Santos Project.
Management believes that the favorable legal developments, concession regularization activities,
shareholder support, and independent legal review completed by RB Abogados collectively strengthen the
Company's position and provide a clearer foundation for future project advancement.
About Galore Resources
Galore Resources Inc. is a Canadian-based exploration and development company focused on advancing
its Dos Santos gold -silver-copper project in Zacatecas, Mexico. The property hosts multiple mineralized
targets across 14,400 hectares in one of Mexico’s most prolific mining districts.
ON BEHALF OF THE BOARD
“Michael McMillan”
President, CEO and Director
For Further Information:
Please call Mike McMillan, CEO Galore Resources Inc. @ (210)-860-9212
or email [email protected] with any questions or comments.
Neither the 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.
CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING INFORMATION: This news release includes “forward -
looking statements” and “forward -looking information” within the meaning of Canadian securities legislation. All statements
included in this news release, other than statements of historical fact, are forward-looking statements. Forward-looking statements
include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticip ate",
"believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may",
"will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements in this news release include, but are not limited to, the estimation of mineral resources; magnitude or
quality of mineral deposits; anticipated advancement of mineral properties or programs; future operations; mine plans; future
exploration prospects, the Company’s receipt of the assays and quality of results from those assays; the completion and timing of
technical reports; future growth potential of Galore Resources and future development plans for the Dos Santos project; the ability
of the Company to obtain the requisite staffing, bonding and financing therefor; and the potential impact of seasonal drilling
restrictions on the ability of the Company to effectively carry out such programs. In addition, the Company’s ability to raise funds
necessary to continue to conduct further drill programs at its Mexican miner al properties and the timing thereof, the prospective
deposits, targets and mineralization at the properties and the anticipated receipt and timing of necessary governmental or th ird-
party approvals and permits. In addition, the Company’s ability to raise funds necessary to continue to conduct further drill
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Mailing Address: 2701 Little Elm Parkway, Suite 100 #512 | Little Elm, Texas, USA | 75068
Tel: (210) 860-9212 | Fax: (604) 648-8894 | www.galoreresources.com
programs at its Mexican mineral properties and the timing thereof, the prospective deposits, targets and mineralization at the
properties and the anticipated receipt and timing of necessary governmental or third-party approvals and permits.
Such forward-looking information reflects management’s current beliefs and is based on a number of estimates and assumptions
made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed
or implied by such forward-looking information. Readers are cautioned that such forward-looking information is neither a promise
nor guarantee, and is subject to known and unknown risks and uncertainties including, but not limited to, delays in obtaining
governmental or third party approvals and permits, actual results of explorat ion activities, unanticipated geologic formations,
structures and characteristics, environmental risks, future prices of base and other metals, operating risks, accidents, labo r issues,
and other risks in the mining industry as well as general business, ec onomic, competitive, political and social uncertainties,
uncertain and volatile equity and capital markets and lack of available capital . All forward-looking information contained in this
news release is qualified by these cautionary statements and those i n our continuous disclosure filings available on SEDAR at
www.sedar.com. For OTCQB quotes and filings, please visit www.otcmarkets.com. Accordingly, readers should not place undue
reliance on forward -looking information. The Company disclaims any intention or obligation to update or revise any forward -
looking information, whether as a result of new information, future events or otherwise, except as required by law.