Galantas Gold Enters into Dore Purchase and a US$10 Million Advance Payment Facility with Ocean Partners

Galantas Gold Corporation has entered into a doré purchase agreement with Ocean Partners USA, Inc. for the sale of 100% of refined gold and silver produced from the Andacollo Gold project in Chile. The transaction is classified as a related party transaction under TSXV, AIM, and Canadian securities rules because Ocean Partners beneficially owns more than 10% of Galantas' shares and its CEO, Brent Omland, serves as a director of Galantas.

The agreement includes an optional advance payment facility allowing the company to request up to US$10.0 million in working capital advances against future production. This facility carries an interest rate of 3-month CME Term SOFR plus 4.5%, with repayment required against doré deliveries or in cash no later than 120 days after drawdown.

Pricing is based on payable refined metal content and applicable gold and silver pricing, with a transaction fee of US$3.50 per troy ounce of gold delivered and a commission equal to 1/6 of 1%. The board approved the agreement, with disinterested directors deeming the terms fair and reasonable. The purpose is to establish sales mechanics and provide working capital flexibility to support Andacollo commercialization.

Galantas Gold Corporation has secured a doré purchase contract and an advance facility to support the restart of its Andacollo project, providing a structured sales channel and modest working capital. The agreement includes a US$10.0 million advance, which is incremental relative to the company's reported cash balance of US$108.9 million as of June 30, 2026, and does not fundamentally alter the capital position. The terms include a US$3.50 per ounce transaction fee, which is slightly above standard bank refining fees, reflecting the risk profile and related-party nature of the arrangement while remaining within typical industry ranges for pre-production projects.

The arrangement aligns with previously disclosed strategic reliance on Ocean Partners for financing and offtake, as well as the company's stated path to production in the first half of 2027. The terms do not introduce unexpected dilution, change the project economics, or accelerate the production timeline beyond existing guidance. By securing a buyer and providing short-term liquidity, the agreement supports operational execution, a development expected for a development-stage company advancing a brownfield restart.

Galantas Gold Corporation (GAL) is shifting its operational focus from historical assets in Northern Ireland to two gold-copper projects in Chile: the Andacollo Gold Project and the Indiana Project. The Andacollo Gold Project, located in the Coquimbo region, is a past-producing brownfield heap-leach operation that generated approximately 1.12 million ounces of gold historically.

An updated mineral resource estimate for Andacollo defines 102.4 million tonnes at 0.45 g/t Au, containing 1.47 million ounces in the Indicated category, and 347.9 million tonnes at 0.41 g/t Au, containing 4.54 million ounces in the Inferred category. The company has obtained key regulatory approvals, including confirmation from Chile's Environmental Assessment Service that a new environmental impact assessment is not required for the restart. Infrastructure at the site includes existing heap leach pads, an adsorption-desorption-recovery plant, and a newly acquired 20,000 tonnes per day crushing plant.

The Indiana Project is a development-stage underground gold-copper property with an inferred resource of 4.93 million tonnes at 2.24 g/t Au and 1.31% Cu. This resource contains 355,516 ounces of gold and 64,690 tonnes of copper.