Galantas Selects Engineering and Mine Planning Contractors for Andacollo Gold Project

Galantas Gold Corporation has selected key engineering and mine planning contractors to advance the Andacollo Gold Project in Chile. M3 Engineering & Technology Corporation is leading the Preliminary Economic Assessment (PEA) and the relocation of a 20,000 tonnes per day crushing plant from Mexico to the site. NCL Ingeniería y Construcción Ltda. is advancing mine design and production schedules for restart and expansion scenarios, while STRACON is providing input on mining fleet requirements, operating costs, mine infrastructure, pit dewatering, and execution planning.

Site refurbishment is actively underway, including a completed condition assessment of the Adsorption, Desorption, and Recovery (ADR) plant, with cleaning, inspection, and repair activities in progress. The company targets PEA completion in Q4 2026 and a potential operational restart in Q1 2027, subject to technical, operational, and financial reviews, plus board approval. This announcement follows the SERNAGEOMIN permitting approval on August 5/6 and the binding agreement to acquire the crushing plant on July 13, confirming the execution phase of the brownfield restart strategy.

Galantas Gold Corporation (GAL) released a routine update confirming that its permitting and equipment acquisition milestones remain on track, reinforcing the company’s target for a Q1 2027 restart. The announcement details the selection of contractors and the progression of refurbishment activities, which are standard execution steps for a brownfield restart.

The update follows the August 6 announcement regarding the resignation of COO Brendan Morris. While a replacement is pending and introduces short-term execution risk, the change is considered minor and does not alter the project's fundamental trajectory. The company maintains that it is proceeding according to its stated timeline for engineering studies and site preparation, with no new surprises or material deviations from prior expectations.

Galantas Gold Corporation is a Chile-focused exploration and development company transitioning from a holding company to an active producer. Its flagship asset is the Andacollo Gold Project in the Coquimbo Region, a past-producing brownfield open-pit heap-leach operation with historical production of approximately 1.12 million ounces of gold.

An updated NI 43-101 estimate released in February 2026 outlines a resource base of 102.4 million tonnes of Indicated material grading 0.45 grams per tonne of gold, containing 1.47 million ounces, alongside 347.9 million tonnes of Inferred material grading 0.41 grams per tonne of gold, containing 4.54 million ounces. The company’s strategic focus is a rapid brownfield restart leveraging existing infrastructure, a newly acquired 20,000 tonnes per day crushing plant, and established environmental permits.

Galantas also holds the Indiana Gold-Copper Project in the Atacama Region, an underground vein system currently in the exploration and preliminary economic assessment phase. The project contains 4.93 million tonnes of Inferred resources grading 2.24 grams per tonne of gold and 1.31% copper.