Galantas Gold Intersects 11.84 g/t AuEq over 1.48 Meters in New Structure, Identifies Broad North-South Mineralized Trend and Prioritizes Exploration at Indiana Project

Galantas reports high-grade gold-copper hits and new mineralized zones at Indiana, Chile.

What the company is saying

Galantas Gold Corporation (TSXV:GAL, AIM:GAL) is highlighting positive assay results from its Indiana gold-copper project near Copiapó, Chile, emphasizing that all six reported drill holes intersected mineralization, mostly in newly identified structures outside the current Mineral Resource Estimate (MRE). The company stresses the discovery of high-grade intersections, such as 1.48 meters at 11.84 g/t AuEq (10.3 g/t Au, 1.4% Cu) in hole IN26004, and the identification of a new north-south mineralized trend at least 5 meters wide in the Bondadosa access ramp. Management, led by CEO Mario Stifano, frames these results as evidence of broader exploration potential and a possible shift toward bulk-mineable targets. The company is deferring its Preliminary Economic Assessment (PEA) to incorporate new drill data and will continue both surface and underground exploration. The tone is confident, with an emphasis on technical rigor and the potential for significant resource expansion, but also acknowledges the need for further evaluation before any production decision.

What the data suggests

Six drill holes, totaling part of 5,960 meters drilled so far in a planned 12,500 meter program, all intersected gold-copper mineralization, with several high-grade intervals outside the current MRE. Standout results include 1.48 meters at 11.84 g/t AuEq (10.3 g/t Au, 1.4% Cu) in IN26004, 1.7 meters at 7.74 g/t AuEq (2.16 g/t Au, 5.2% Cu) in IN26005, and 1.0 meter at 5.53 g/t AuEq (4.67 g/t Au, 0.9% Cu) in IN26006, including a 0.5 meter interval at 9.79 g/t AuEq. Channel sampling at Flor de Espino returned up to 5.83 g/t AuEq over 0.5 meters, while trenching at the Zeus structural system revealed up to 20 meters of mineralization at 0.40 g/t AuEq. Gold equivalent values were calculated using US$3,200/oz gold, US$4.70/lb copper, and recoveries of 85% Au/90% Cu for sulphides and 80% Au/75% Cu for oxides. The technical data is detailed and credible, with QA/QC protocols described, but the results are still early-stage and do not yet translate into a resource or economic study. The company is only halfway through its drill program, and the PEA has been deferred, so no updated resource or economic value is available yet.

Analysis

The announcement is generally positive in tone, highlighting successful drill results and the identification of new mineralized structures at the Indiana project in Chile. The technical disclosure is detailed, with specific assay results and geological observations, which supports the credibility of the operational progress. However, a significant portion of the narrative is forward-looking: the company is only halfway through its expanded drill program, the Preliminary Economic Assessment (PEA) is being deferred, and no production decision has been made. The benefits of these results (potential resource expansion, production, or economic returns) are long-term and contingent on future exploration and study outcomes. There is evidence of capital intensity (expanded drilling, leased processing plant), but no immediate earnings or resource upgrade is disclosed. The language around 'broader exploration potential' and 'significantly different mineral deposit' inflates expectations relative to the current stage, as no updated resource or economic study is presented.

Risk flags

• ●Resource and economic upside remain unproven until the full drill program is completed and an updated Mineral Resource Estimate and PEA are delivered. Without these, the project's scale and value are speculative.
• ●The deferral of the PEA introduces timeline risk, as investors will wait longer for a formal economic assessment and project de-risking. Extended exploration phases can lead to cost overruns or funding needs.
• ●Operational risk is present due to the early-stage nature of the new mineralized structures. True widths are not yet known, and vein deposits can be highly variable, so continuity and mineability are not guaranteed.
• ●Capital intensity is flagged by the ongoing 12,500 meter drill program and the need to lease a processing plant, which could strain financial resources if exploration does not deliver commercial results.
• ●Assays for some newly identified structures, including the 5 meter wide north-south trend in the Bondadosa ramp, are still pending, so the full significance of these zones is undetermined.

Bottom line

Galantas Gold’s latest results from Indiana, Chile, show high-grade gold-copper intersections and the discovery of new mineralized structures, suggesting significant exploration potential. The technical disclosure is robust, with detailed assay data and clear QA/QC protocols, but the project remains at an early stage with no updated resource estimate or economic study yet available. The deferral of the PEA means investors will not see a formal assessment of project economics or scale for several more months, and the company must still complete over half its planned drilling. While the results are promising, the value proposition is still speculative and contingent on future drilling, resource modeling, and economic analysis. Investors should focus on the delivery of the full drill program, updated MRE, and PEA as the next major milestones. The most important takeaway is that while the exploration potential has increased, tangible value realization is still distant and subject to technical and execution risks.

Announcement summary

(TSXV:GAL, AIM:GAL) Galantas Gold Corporation announced positive results from its ongoing drilling program and from surface and underground sampling at its Indiana gold-copper project near Copiapó, Chile. The company has completed 16 drill holes totaling 5,960 meters out of a planned 12,500 meter program. Assays have been received from six drill holes and from 370 underground and surface channel samples. All six drill holes reported returned gold-copper intersections, with the majority located in newly identified structures outside the current Mineral Resource Estimate (MRE). Notable intersections include 1.48 meters at 11.84 g/t AuEq (10.3 g/t Au, 1.4% Cu) in hole IN26004, 1.7 meters at 7.74 g/t AuEq (2.16 g/t Au, 5.2% Cu) in hole IN26005, and 1.0 meter at 5.53 g/t AuEq (4.67 g/t Au, 0.9% Cu), including 0.5 meters at 9.79 g/t AuEq in hole IN26006. A new north-south mineralized trend was identified in the Bondadosa access ramp, at least 5 meters wide with visible pyrite and chalcopyrite, and trenching across the Zeus structural system revealed up to 20 meters of gold-copper mineralization at 0.40 g/t AuEq (Trench 2). The company has identified new styles of mineralization, including disseminated sulphides, disseminated molybdenite in intrusive rock, and hypogene chalcocite-bornite, which may indicate a higher-temperature, vertically zoned system. The company will complete its expanded 12,500 meter program to further evaluate these new mineralized structures and the potential for bulk mineralization before making a production decision at Indiana. The completion of the Preliminary Economic Assessment (PEA) will be deferred to incorporate the drill results into an updated MRE and to allow further evaluation. Underground exploration development at Bondadosa and Flor de Espino veins will continue, and mineralized material extracted will be treated at the processing plant leased by the company in Copiapó. Drill results include: IN26001 returned 1.5 meters at 1.62 g/t Au, 1.6% Cu, 3.31 g/t AuEq; IN26004 returned 1.48 meters at 10.3 g/t Au, 1.4% Cu, 11.84 g/t AuEq; IN26005 returned 1.7 meters at 2.16 g/t Au, 5.2% Cu, 7.74 g/t AuEq; IN26006 returned 1.0 meter at 4.67 g/t Au, 0.9% Cu, 5.53 g/t AuEq, including 0.5 meters at 8.85 g/t Au, 1.0% Cu, 9.79 g/t AuEq. Underground Flor de Espino channel samples included 5.0 meters at 1.2 g/t Au and 0.279% Cu (1.49 g/t AuEq), 1.4 meters at 2.62 g/t Au and 0.429% Cu (3.08 g/t AuEq), 0.8 meters at 1.70 g/t Au and 0.495% Cu (2.23 g/t AuEq), and 0.5 meters at 5.46 g/t Au and 0.35% Cu (5.83 g/t AuEq). Zeus structural system trench samples included 20 meters at 0.26 g/t Au and 0.13% Cu (0.40 g/t AuEq) in Trench 2, including 0.8 meters at 0.98 g/t Au and 0.5% Cu (1.51 g/t AuEq) and 0.9 meters at 0.75 g/t Au and 0.48% Cu (1.26 g/t AuEq); Trench 3 returned 4.5 meters at 0.55 g/t Au and 0.22% Cu (0.78 g/t AuEq), including 0.7 meters at 2.27 g/t Au and 0.75% Cu (3.07 g/t AuEq); Trench 4 returned 10 meters at 0.28 g/t Au and 0.11% Cu (0.40 g/t AuEq), including 0.5 meters at 0.63 g/t Au and 0.24% Cu (0.89 g/t AuEq), and 0.5 meters at 0.67 g/t Au and 0.18% Cu (0.84 g/t AuEq). Gold equivalent (AuEq) was calculated using a gold price of US$3,200/oz, copper price of US$4.70/lb, and recoveries of 85% Au and 90% Cu for sulphides and 80% Au and 75% Cu for oxides. The company's analytical protocol includes QA/QC procedures with certified standards, blanks, and duplicates. Scientific and technical disclosures were reviewed and approved by Mr. Dorian L. (Dusty) Nicol, Senior Vice President Exploration.

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