Galleon Gold Initiates Updated Preliminary Economic Assessment for West Cache, Engages Hard Rock Consulting

Galleon Gold Corp. has engaged Hard Rock Consulting, LLC to prepare an updated Preliminary Economic Assessment (PEA) for its 100%-owned West Cache Gold Project in Timmins, Ontario. The updated PEA will incorporate recent drilling results, specifically the extension of Zone #9 to over 500 metres of vertical extent, alongside updated geological interpretations and technical work completed since the maiden PEA in January 2022.

The engagement aims to update the geological model and resource classification, leveraging data from an ongoing 86,500-tonne bulk sample program to support future feasibility-level studies and development decisions. Technical content is reviewed and approved by Leah Page, P.Geo., Vice President, Exploration.

Galleon Gold Corp. (GGO) announced an updated Preliminary Economic Assessment (PEA), a development that aligns with management’s stated roadmap to complete significant drilling and initiate underground development before finalizing technical de-risking ahead of the bulk sample program. The release confirms the company is advancing these technical milestones, though it does not introduce unexpected or market-moving information.

The market has already priced in the drilling extensions and underground development milestones associated with this update. The announcement serves as a routine technical confirmation of execution discipline rather than a catalyst for immediate price appreciation. The material impact of the release is neutral to mildly positive, consistent with prior market expectations.

Galleon Gold Corp. is a pre-revenue gold exploration and development company focused on the West Cache Gold Project, located in Timmins, Ontario, within the prolific Western Porcupine gold camp. The company holds a land position of approximately 11,600 hectares and is currently in the development stage, transitioning from surface construction to underground development for a planned 86,500-tonne bulk sample.

The project’s mineral resource is defined by a 2022 underground model at a 1.6 g/t Au cut-off, which indicates 15,839 kt at 3.08 g/t Au for 1,560 koz contained gold. A 2022 Preliminary Economic Assessment (PEA) calculated a post-tax NPV5% of $128.6M with a 17.2% IRR at a gold price of $1,500/oz, with economics improving significantly at higher gold prices. Recent drilling has extended Zone #9 over 500 metres vertically, with high-grade intercepts continuing to confirm grade continuity and down-plunge extensions.