Galloper closes acquisition of Newfoundland licences

Executive Summary

• Galloper Gold Corp. completed the acquisition of four additional mineral claims on Glover Island, Newfoundland, expanding its land package to 122 km².
• The newly acquired claims host historic surface trenching results up to 11.5 g/t Au and extend the Lucky Smoke strike length by 400 m, with drill intercepts as high as 18.79 g/t Au.
• Consideration consisted of a lump‑sum cash payment plus a 1 % NSR royalty and a $250,000 buyback provision for the vendor.

Key Details

• Acquisition Scope: Four claims within one mineral licence adjacent to existing Galloper licences on Glover Island.
• Land Coverage: Total mineral landholdings now cover 122 km² (12,200 ha) across 477 claims in 15 licences.
• Surface Mineralization: Historic trenching at Keystone and Jacomar prospects returned up to 11.5 g/t Au in channel samples.
• Strike Extension: Lucky Smoke prospect’s mineralized strike length increased by 400 m with the new licence.
• Drill Results (2024): Lucky Smoke drilling intersected up to 18.79 g/t Au in core.
• Geological Continuity: The added corridor (Tomahawk‑Lucky Smoke‑Keystone‑Jacomar) shows favorable continuity both along strike and downdip, linking to the 178,800 oz Au Lunch Pond South Extension resource (43‑101 compliant).
• Consideration Terms: Vendor received a lump‑sum cash payment plus a 1 % NSR royalty on future production; vendor also granted a $250,000 buyback right.

Notable Quotes

“The acquisition of the historic mineral claims hosting the Keystone and Jacomar prospects adds significant value to the company… Galloper continues to be a breakout player in the gold and base metals sector, capitalizing on exciting opportunities to deliver increasing shareholder value.” – Hratch Jabrayan, CEO, Galloper Gold Corp.