HISTORIC LOAN ADVANCES

MAY 2, 2025, TORONTO, CANADA - Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) ("Galantas" or the "Company") announces an update further to the announcement made on 30 April 2025 in relation to the loan advances made to the Company on November 6, 2024 ("2024 Advance") and on April 11, 2025 ("2025 Advance") by Melquart Ltd ("Melquart") which were on the same terms as the February 2023 loan between Melquart and the Company and which are set out below.

The 2024 Advance had a value of £76,965 and the 2025 Advance had a value of £100,000, have terms of 24 months, a coupon of 12% and are secured on the Gairloch lease asset. The loan advances were provided for general working capital purposes and to maintain the lease at the Company's Gairloch asset.

In accordance with AIM Rule 13, the Directors of the Company, having consulted with their Nominated Adviser, consider that, at the time they were entered into, the terms of the 2024 Advance and the 2025 Advance were fair and reasonable in so far as the Company's shareholders are concerned.

About Galantas Gold Corporation

Galantas Gold Corporation is a Canadian public company that trades on the TSX Venture Exchange and the London Stock Exchange AIM market, both under the symbol GAL. It also trades on the OTCQX Exchange under the symbol GALKF. The Company's strategy is to create shareholder value by operating and expanding gold production and resources at the Omagh Project in Northern Ireland, and exploring the Gairloch Project hosting the Kerry Road gold-bearing VMS deposit in Scotland.

Enquiries

Galantas Gold Corporation

Mario Stifano: Chief Executive Officer

Email: [email protected]

Website: www.galantas.com

Telephone: +44(0)28 8224 1100

Grant Thornton UK LLP (AIM Nomad)

Philip Secrett, Harrison Clarke, Elliot Peters

Telephone: +44(0)20 7383 5100

SP Angel Corporate Finance LLP (AIM Broker)

David Hignell, Charlie Bouverat (Corporate Finance)

Grant Barker (Sales & Broking)

Telephone: +44(0)20 3470 0470