Galleon issues limited notice to proceed to Aki-Dumas
Galleon awarded an underground contractor to advance bulk sample execution at its West Cache project.
Galleon Gold Corp. has issued a Limited Notice to Proceed and a Letter of Award to Aki-Dumas LP for underground development activities at its West Cache gold project. The contract encompasses early-stage planning, mobilization, procurement, and preparatory work for a planned 86,500-tonne bulk sample program. Aki-Dumas LP operates as a joint venture between Mattagami First Nation and Dumas Contracting Ltd., a subsidiary of STRACON Group Holding Inc.
Initial activities will concentrate on detailed engineering, development planning, and establishing access to the bulk sample area. A definitive underground development agreement is expected to be finalized in due course. The technical content was reviewed and approved by David Young, PE, an independent Qualified Person under NI 43-101.
Galleon Gold Corp. (GGO) has been awarded the Long Lead Time Procurement (LNTP) contract, a development that follows the completion of box cut excavation and surface infrastructure in April 2026. This award confirms the company is adhering to its execution roadmap as it transitions from surface preparation into underground development.
The project remains fully funded through a combination of $30M in equity, a $46M senior secured debt facility, and $8M in convertible debt, eliminating immediate capital raising risks for this phase. The news does not introduce new financial terms, unexpected delays, or changes to the bulk sample scope. It represents an incremental operational milestone that de-risks the upcoming bulk sample extraction.
Galleon Gold Corp. is focused on the West Cache Gold Project, located 13 km west of Timmins, Ontario, in the prolific Western Porcupine gold camp. The property covers approximately 11,600 hectares and sits on the Destor-Porcupine Fault Zone, with over five kilometers of strike length. The project is 100% owned and fully unencumbered following the repurchase of a 3% NSR royalty.
Surface infrastructure, including roads, hydro lines, and a temporary water treatment plant, is complete. The box cut excavation was finished in April 2026. The flagship project is advancing toward a planned 86,500-tonne underground bulk sample program, which will generate critical data for a Bankable Feasibility Study. A Preliminary Economic Assessment (PEA) completed in 2022 outlined a resource base of 4,051 kt Indicated @ 3.63 g/t Au and 11,788 kt Inferred @ 2.87 g/t Au.