Stock Options

GALANTAS GOLD CORPORATION

GALANTAS GRANTS STOCK OPTIONS

May 20, 2021. Galantas Gold Corporation ("TSX-V: GAL; AIM: GAL) ("Galantas" or the "Company") reports that it has awarded 3,915,000 incentive stock options on the Company's common shares to directors, employees and consultants, in accordance with the terms of the Company's incentive Stock Option Plan. The exercise price for the options, which expire on May 19, 2026, is C$0.86 per share and the grant of these options was approved by the Board of Directors on May 19, 2021. The options will vest as to one third immediately and one third on each of May 19, 2022 and May 19, 2023, and are valid for a 5-year period from the date of grant.

 The number of options issued to directors, employees and consultants are noted below:

Name of Optionee                       Position                                                       Number of Options

Roisin Magee                                Director & Chair                                                      275,000

Mario Stifano                                 Director Designate & Officer                                1,500,000

James Golla                                  Director                                                                   125,000

James Clancy                               Director                                                                   125,000

Brent Omland                                Director Designate & Strategic Advisor                  375,000

David Cather                                 Director                                                                   125,000

George Duguay                             Officer                                                                       75,000

Alan Buckley                                 Officer                                                                     250,000

Employees and Consultants         Various                                                                 1,065,000

                                                              Total Options Granted                               3,915,000

The Company's Stock Option Plan allows for the issuance of up to 10% of issued and outstanding share capital in the form of incentive stock options. The total number of incentive stock options outstanding prior to this award was 570,000 which results in the total number of incentive stock options now outstanding for the Company being 4,485,000, representing 6.12% of the Company's issued and outstanding shares, which total 73,270,468.

This disclosure has been authorized by Mario Stifano, Director and CEO of Galantas Gold Corporation.

The aforementioned stock option grants are subject to TSX Venture Exchange approval.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Enquiries

Galantas Gold Corporation                                         Mario Stifano: Chief Executive Officer

Email: [email protected]  Website: www.galantas.com  Telephone: +44 (0) 2882 241100

Grant Thornton UK LLP (AIM Nomad)                 

Philip Secrett, Harrison Clarke, George Grainger                                               

Telephone: +44(0)20 7383 5100                     

Panmure Gordon & Co (AIM Broker & Corporate Adviser)

Nick Lovering, Hugh Rich

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