Galantas Gold Intersects 11.84 g/t AuEq over 1.48 Meters in New Structure, Identifies Broad North-South Mineralized Trend and Prioritizes Exploration at Indiana Project

Galantas Gold Corporation (GAL) reported drilling results from its Indiana Project in Chile, with all six reported holes intersecting mineralization. High-grade intersections were identified in new structures outside the current Mineral Resource Estimate (MRE), including 1.48 m at 11.84 g/t AuEq and 1.7 m at 7.74 g/t AuEq.

A broad north-south mineralized trend, identified as the Zeus structural system, was also discovered, with trench sampling showing low-grade but broad zones. Underground channel sampling at the Flor de Espino Ramp returned grades up to 3.08 g/t AuEq.

Management announced a strategic shift, deferring the Preliminary Economic Assessment (PEA) to incorporate these new results into an updated MRE, prioritizing further exploration over short-term production planning. Drilling progress stands at 16 holes (5,960 m) of a planned 12,500 m program. Assays are pending for remaining holes.

Galantas Gold Corporation (GAL) reported drill results that confirm high-grade gold-copper intersections in previously untested structures, validating the company's exploration thesis. The findings are consistent with the company's stated strategy of expanding the resource base before finalizing mine plans.

However, the deferral of the Preliminary Economic Assessment (PEA) presents a near-term negative. The company had previously targeted PEA completion for Q4 2026. This delay pushes back the timeline for a definitive production decision and removes a key near-term valuation catalyst. The extension of the timeline extends the cash burn period without a clear production date, though it does not materially change capital requirements or operational risks.

Market reaction is likely muted as exploration upside was already priced in, and the PEA delay is a known risk in early-stage development.

Galantas Gold Corporation (GAL) is shifting its strategy to become a multi-asset developer centered on two Chilean projects: Indiana and Andacollo. The Indiana Project is an underground gold-copper vein system with an inferred resource of 4.93 million tonnes at 2.24 grams per tonne of gold and 1.31% copper. The company had targeted production by the end of 2026, though this timeline is now likely delayed.

The Andacollo Project is a brownfield heap-leach gold operation with historical production of approximately 1.12 million ounces. It holds an indicated resource of 102.4 million tonnes at 0.45 grams per tonne of gold (1.47 million ounces) and an inferred resource of 347.9 million tonnes at 0.41 grams per tonne of gold (4.54 million ounces). Galantas targets a restart for Andacollo in the first half of 2027.

The management team includes CEO Mario Stifano, SVP Operations Robert Sedgemore, and Exploration Consultant Dusty Nicol, all of whom possess extensive experience in Chilean and global mining.