Galloper Gold Announces Fully-Funded Non-Brokered Private Placement

Galloper Gold has arranged a fully‑funded, non‑brokered private placement totaling $2,226,996. The offering consists of 16,891,633 flow‑through common shares at $0.12 per share and 2,000,000 common shares at $0.10 per share. A single, unnamed strategic investor committed up to $999,996 to the flow‑through component. Proceeds will fund the company’s 2026 exploration program (flow‑through) and general working capital (common shares), with closing expected May 29, 2026. The release references the May 7, 2026 drilling announcement for Glover Island and highlights strong investor support.

The financing is a routine, albeit constructive, capital‑raise that directly supports the 2026 drill program outlined three weeks earlier. The flow‑through price of $0.12 is a premium to recent market ($0.09–0.10) and well above the $0.06 unit pricing of the previous $2.5M placement (which included a half warrant). This pricing uplift reflects improved sentiment, but the transaction itself is expected – the company had already announced plans and a need for funding. No new exploration data or resource updates accompany the news. Therefore, while the successful fill‑the‑book demonstrates ongoing demand, it does not constitute a material game‑changer or surprises the market. The impact is Routine – Positive: it keeps the status quo intact and underwrites near‑term catalysts, but does not alter the underlying valuation.

Galloper Gold is a junior gold exploration company listed on the Canadian Securities Exchange (CSE). Its sole material asset is the 100%‑owned Glover Island Property in Newfoundland, covering 122 km² (12,200 ha) across 15 mineral licences. The property lies within the Central Newfoundland Gold Belt and hosts the Lunch Pond South Extension (LPSE) deposit and 17 other prospects along a >30 km trend of the Kettle Pond Formation.

The flagship LPSE deposit was re‑evaluated in April 2026 (NI 43‑101) with an updated pit‑constrained resource: 3.124 Mt indicated at 1.20 g/t Au (121 koz) and 6.692 Mt inferred at 1.02 g/t Au (219 koz), based on a US$3,500/oz gold price. This represents a substantial increase over the 2017 estimate (which used US$1,210/oz and reported 55 koz indicated + 120 koz inferred). The company is currently advancing a 7,000 m drill program targeting expansion at LPSE and the Lucky Smoke deposit, where previous intercepts reached 18.79 g/t Au.