GALANTAS GOLD EXPANDS INDIANA DRILL PROGRAM TO 12,500 METRES

Toronto, Ontario - August 10, 2026 - Galantas Gold Corporation (TSX-V: GAL | AIM: GAL) ("Galantas" or the "Company") announces an update on the ongoing exploration program at its Indiana gold-copper project near Copiapó, Chile.  To date, the Company has drilled 5,060 metres of a planned 5,000-metre program. The visual results of potential disseminated style mineralization and the resulting potential exploration targets warrants an expansion of the drill program to 12,500 metres, which will be funded from the Company's current cash position. 

The drill program at Indiana is designed to test for extensions of known mineralization along strike and down-dip at the Bondadosa and Flor de Espino veins, new mineralized structures not exposed at surface, high-grade mineralization at structural intersections, and provide confirmatory grade and geotechnical information for underground mine design.

Twelve (12) exploration drill holes totaling 4,852 metres and one infill drill hole of 208 metres at the Flor de Espino vein have been completed to date (see Figure 1). Very few assays have been received due to a combination of back-up in the laboratory and flooding with subsequent loss of electric power due to heavy rains in the Coquimbo region of Chile.  The Company is taking steps to remedy these delays, including sending samples to different certified laboratories in Chile, and will report assay results as soon as they are available.

Visual sulphide mineralization in drill core, trenches and outcrops indicates potential for new styles of mineralization in addition to the vein-hosted mineralization hosting the current mineral resource, which may expand the target concept(s) at Indiana.

Mario Stifano, the Company's CEO, commented: "We are very encouraged by these observations, which support our belief that Indiana is a fertile area for discovery of additional gold-copper mineralization and expansion of the current mineral resource.  For the first time at Indiana, disseminated sulphide mineralization, including molybdenite, has been recognized in drill core.  The significance of this disseminated mineralization is being assessed, as is the significance of the hypogene (primary) chalcocite and bornite associated with intense alteration.  Surface exploration has identified new targets in a large land package of approximately 8 km by 10 km within a major IOCG belt which we expect will merit drill testing."

Note: In the absence of assays, visually observed mineralization is not necessarily an indication of significant grade or of economic mineralization. Widths are reported as drilled.  True widths are unknown.

Drill Program

Twelve of the 13 drill holes completed to date intersected the Bondadosa or Flor de Espino veins within metres of targeted depth.  The only one that did not was Drill Hole IN26009, which targeted the Bondadosa vein.  As these veins commonly pinch and swell, it is assumed that this drill hole simply intersected a zone where the vein was pinched. Visual evidence in the recognized veins comprises visible sulphide mineralization (pyrite and chalcopyrite) usually associated with magnetite, over drilled widths similar to the vein mineralization comprising the current mineral resource.

In addition, 12 new visually mineralized structures have been identified in 10 of the drill holes completed to date (see Table 1 below), each displaying pyrite and chalcopyrite (+/- magnetite) mineralization in discrete and identifiable structures.  Some of these structures may have been intersected in more than one drill hole but their geometry is not yet fully understood.  Assay results have not been received to indicate potential grade.

Figure 1: Plan view showing drill holes completed to date at Indiana project.

In addition to the vein-hosted mineralization, for the first time at Indiana, disseminated sulphide (pyrite and chalcopyrite) mineralization has been recognized in intrusive and volcanic rocks near their contact.  Two such intervals have been identified (see Photo 1): At Drill Hole IN26008 over 26.2 metres (from 500.4 to 526.6 metres) and in IN26014 over 4.25 metres (from 216.0 to 220.25 metres).  True widths are unknown and until assay results are received, grades are unknown.

In Drill Hole IN26010, significant disseminated molybdenite was observed in intrusive rock over a drilled width of about one meter in two locations, at 306.5 metres and at 329.5 metres (see Photo 2).  The significance of this is not yet understood.  While minor amounts of molybdenite in veinlets are not uncommon in Andean IOCG (iron oxide - copper - gold) deposits like Indiana, disseminated molybdenite within intrusive rocks is rare in typical IOCG systems, though it may occur in districts with porphyry-style mineralization or transitional IOCG - porphyry characteristics.