Star Metro - Galantas Gold Secures the Last Key Permitting Approval for Andacollo Gold Project

This approval extends the validity of the permit originally granted and authorizes continued operation of the Ripios Dumps VII, VIII, and IX facilities under the same technical, operational, environmental, and safety conditions previously approved by SERNAGEOMIN. The approval recognizes that, following the prolonged suspension of activities since 2016, the Ripios Dumps retain significant remaining capacity, with approximately 16.4 million tonnes of authorized capacity remaining, equivalent to 81% of the total approved capacity.

Galantas now has all the key regulatory approvals required to resume operations at the Project under the previously approved mine design, waste-disposal configuration, heap-leach facilities, operating parameters and safety conditions. The authorized operating period extends for four years from the commencement of mineral extraction, or until the applicable remaining authorized tonnage or capacity is reached, whichever occurs first.

The Company continues to advance engineering, procurement, infrastructure rehabilitation, contractor planning and operational-readiness activities at the Project. The Company also continues to prioritize local employment, contractor participation, training and procurement opportunities in the town of Andacollo and is working with authorities and community stakeholders to support an orderly and responsible restart.

Cautionary Note: The Company has not made a production decision in respect of the Project. Any decision to restart production will be subject to, among other things, completion of further technical, operational and financial review, availability of financing, completion of installation, rehabilitation and commissioning activities, receipt of any remaining approvals required at the relevant time, and formal approval by the Company's board of directors.

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Dorian L. (Dusty) Nicol, a qualified person for the purposes of NI 43-101. Mr. Nicol is a shareholder of the Company and acts as a special advisor on exploration to the Company.

About Galantas Gold Corporation

Galantas Gold Corporation is a publicly traded gold and copper company focused on the acquisition, development, and advancement of gold and copper assets in stable mining jurisdictions. The Company is currently advancing the development of the Indiana Project and the Andacollo Gold Project in Chile. Galantas' strategy is to build long-term shareholder value through disciplined capital allocation, technically rigorous project evaluation, and responsible development of high-quality mineral assets.

Enquiries

Galantas Gold Corporation
Mario Stifano: Chief Executive Officer
Email: [email protected]
Website: www.galantas.com
Telephone: +1 416-848-7744

Grant Thornton UK Advisory & Tax 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 & Brokering)
Telephone: +44(0)20 3470 0470

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking information"). Forward-looking information is generally identifiable by the use of words such as "anticipate", "believe", "expect", "intend", "may", "plan", "will", "would", "could", "should", "estimate", "forecast", "potential", "continue" and similar expressions, although not all forward-looking information contains these identifying words. Forward-looking information in this news release includes, but is not limited to, statements regarding the Company's plans and expectations for the Project, including the anticipated benefits of the SERNAGEOMIN approval, the potential restart of operations, the authorized operating period and remaining authorized capacity of the Ripios Dumps, ongoing operational-readiness activities, the availability of financing, and the receipt and maintenance of required approvals, permits and authorizations.

Forward-looking information is based on the Company's current expectations, estimates, projections, assumptions and beliefs, including assumptions regarding the continued validity of applicable regulatory approvals, the Company's ability to complete further technical, operational and financial review, the availability of financing on acceptable terms, the accuracy of capacity estimates, and the Company's ability to complete operational-readiness and development plans as contemplated.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such information. These risks and uncertainties include, among others, permitting, regulatory, financing, development, construction, operating, technical, environmental and safety risks; risks relating to the timing and cost of restart activities; commodity price and exchange rate volatility; uncertainties inherent in mineral resource estimates and mineral project development; general economic, market and business conditions; and the risks described in the Company's public disclosure documents filed under the Company's profile on SEDAR+ and on the London Stock Exchange website.

Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date of this news release and, except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. The Company is admitted to trading on AIM and accordingly, further disclosure on the matter can be found on the Company's profile on the London Stock Exchange website.

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

SOURCE: Galantas Gold Corporation

View the original press release on ACCESS Newswire

Y.X. Gagnon--SMC