Galantas Increases Gold Concentrate Processing

TORONTO, Nov. 09, 2020 (GLOBE NEWSWIRE) — Galantas Gold Corporation (“Galantas” or “the company”) is pleased to announce an increase in gold concentrate processing has been achieved at the Galantas Gold Mine, Omagh, Northern Ireland.

Three shift processing commenced on 26

^th

October 2020. The addition of a third shift has increased milling from 84 hours to 120 hours per week. Additional training and labour re-organisation has enabled the change to be made, without additional hiring, by redeployment within the business. An increase in gold concentrate output of up to 43% is anticipated, due to the increase in weekly milling hours.

Qualified Person

This release has been prepared by Roland Phelps (President & CEO), qualified person under the meaning of NI. 43-101 and is based upon information prepared under his direction.

NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including anticipated processing plant output, for the Omagh Gold project. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Galantas believes are appropriate in the circumstances. Many factors could cause Galantas’ actual results, the performance or achievements to differ materially from those expressed or implied by the forward looking statements or strategy, including: gold price volatility; discrepancies between actual and estimated production, actual and estimated metallurgical recoveries and throughputs; mining operational risk, geological uncertainties; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration; dilution; competition; loss of or availability of key employees; additional funding requirements; uncertainties regarding planning and other permitting issues; and defective title to mineral claims or property. These factors and others that could affect Galantas’s forward-looking statements are discussed in greater detail in the section entitled “Risk Factors” in Galantas’ Management Discussion & Analysis of the financial statements of Galantas and elsewhere in documents filed from time to time with the Canadian provincial securities regulators and other regulatory authorities. These factors should be considered carefully, and persons reviewing this press release should not place undue reliance on forward-looking statements. Galantas has no intention and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law.

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.

Enquiries

Grant Thornton UK LLP (AIM Nomad)

Philip Secrett, Harrison Clarke

Telephone: +44(0)20 7383 5100

Panmure


Gordon & Co (AIM Broker & Corporate Adviser)

Nick Lovering, Hugh Rich

Telephone: +44(0)20 7886 2500