Galleon Gold Announces Closing of Upsized $30M Bought Deal Private Placement, Including Full Exercise of Over-Allotment Option, and Concurrent $7M Non-Brokered Private Placement

Galleon Gold Corp. has closed an upsized private placement, raising approximately $30 million CAD, which included the full exercise of the over-allotment option. The offering consists of 4,717,000 flow-through shares priced at $1.59 and 20,089,271 hard-dollar shares at $1.12.

In a concurrent non-brokered private placement, the company raised an additional $7 million CAD from strategic investor Pan American Silver Corp. at $1.12 per share. Proceeds from the transactions are designated for Canadian exploration expenses on the West Cache Gold Project, project advancement, and general corporate working capital. The transaction includes standard hold periods and relies on regulatory exemptions under MI 61-101.

Galleon Gold Corp. (GGO) confirmed the successful closing of a financing package initially announced on October 19, 2026, and upsized on October 20, 2026. The market was fully aware of the capital raise, the pricing, and the inclusion of Pan American Silver as a strategic investor.

The full exercise of the over-allotment option and the strong demand that drove the upsizing from $20 million to $30 million demonstrate institutional and retail confidence in the project. The $1.12 financing price establishes a clear near-term reference level for the stock, while the strategic investment from Pan American Silver provides validation and a potential price floor. As the information was previously disclosed and the closing represents expected execution, the immediate market impact is limited to confirming capital availability rather than introducing new catalysts.

Galleon Gold Corp. is an exploration and development-stage company focused on the West Cache Gold Project in Timmins, Ontario. The project covers 11,580 hectares in the prolific Porcupine Destor Gold Belt.

The company has completed an 18,000-metre drill program in 2026, extending Zone #9 mineralization over 500 metres of vertical extent and confirming high-grade continuity. Surface construction and underground ramp development have commenced to support an 86,500-tonne bulk sample program.

A 2022 Preliminary Economic Assessment (PEA) highlighted strong economics, with a post-tax NPV5% of $128.6 million at $1,500/oz gold and an IRR of 17.2%. The company holds a mineral resource of 15.8 million tonnes at 3.08 g/t Au, containing approximately 1.56 million ounces.