Mr. Mario Stifano reports

GALANTAS SELECTS ENGINEERING AND MINE PLANNING CONTRACTORS FOR ANDACOLLO GOLD PROJECT

Galantas Gold Corp. has provided an update on the preliminary economic assessment (PEA) under way for its 100-per-cent-owned Andacollo gold project in the Coquimbo region of Chile.

Galantas has selected M3 Engineering & Technology Corp. to lead the PEA and the crushing plant relocation program from Mexico to site, as previously announced on July 13, 2026. The PEA is targeting completion for Q4 2026.

Mario Stifano, chief executive officer of Galantas, commented: "Andacollo Gold is a permitted brownfield restart with low capital intensity, supported by an established mineral resource estimate. M3 is leading the PEA and crushing plant relocation program, while NCL Ingenieria y Construccion Ltda. of Chile is advancing the mine design and production schedules, and Stracon is providing mining cost, fleet and execution-planning input. In parallel, our project and operations team, led by Robert Sedgemore, senior vice-president, operations, is advancing infrastructure refurbishment, procurement, contractor engagement and operational readiness at site. Our priorities remain safe execution, capital discipline and cost control as the company advances toward a potential restart, currently targeted for the first quarter of 2027."

Andacollo Gold is a permitted past-producing brownfield heap-leach gold operation with existing infrastructure, including historical open pits, crushing areas, heap-leach facilities, solution ponds, an adsorption, desorption and recovery (ADR) plant, workshops, offices, site roads, and established power and water infrastructure.

The existing site infrastructure, together with the acquired crushing plant, is expected to lower the capital intensity to restart operations, shorten the restart schedule and reduce execution risk compared with the development of a comparable greenfield operation. In addition, the company's current budget and available financing are expected to support the planned restart activities described herein.

Crushing plant relocation

In addition to preparing a PEA, M3's mandate includes the provision of engineering, procurement support and construction-management services for the dismantling, preservation, transportation, installation and commissioning of the recently acquired crushing plant.

The acquired equipment comprises a three-stage crushing plant with a stated design capacity of approximately 20,000 tonnes per day, subject to confirmation through engineering review, equipment inspection and assessment of the proposed operating configuration.

M3 will assess the existing crushing area, foundations, electrical infrastructure and site configuration required to integrate the relocated equipment at the Andacollo gold project site. M3 has prepared a preliminary general arrangement showing the proposed location and configuration of the crushing plant. The layout illustrates how the crushing circuit, conveyors, stockpile areas and associated infrastructure may be integrated with the project's existing facilities.

Restart activities advancing

NCL Ingenieria y Construccion is advancing the mine design and production schedules for the restart and expansion scenarios.

Stracon is providing early contractor involvement and practical input into mining fleet requirements, operating costs, mine infrastructure, pit dewatering, truck-shop refurbishment, contractor mobilization and mining execution planning.

A full condition assessment has been completed for the existing ADR plant, defining the scope of work required for refurbishment. Cleaning, inspection, repair, replacement and sandblasting activities are under way as part of the active refurbishment program.

Long-lead items have been purchased, and contracting and procurement packages are in execution.

Inspection and rehabilitation planning are also advancing for the heap-leach facilities and associated pumping, irrigation and solution-management systems, alongside mine planning, crushing plant relocation engineering, capital and operating cost development, and continued contractor engagement.

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, 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.

Mineral resource estimate

The project is supported by the mineral resource estimate set out in the technical report entitled "Technical Report -- Mineral Resource Estimate Update, Andacollo Oro Gold Project, Coquimbo Region, Chile," prepared by DRA Americas Inc., with an effective date of Feb. 1, 2026, and a report date of May 4, 2026, and is available under the company's profile on SEDAR+ and on the company's website.

Qualified person statement

The scientific and technical information in this news release has been reviewed and approved by Dorian L. (Dusty) Nicol, PGeo, chartered Geo, FAusIMM, the company's exploration consultant, who is considered, by virtue of his education, experience and professional association, a qualified person for the purposes of National Instrument 43-101. Mr. Nicol is a shareholder of the company and acts as a special adviser on exploration to the company.

About Galantas Gold Corp.

Galantas Gold 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's strategy is to build long-term shareholder value through disciplined capital allocation, technically rigorous project evaluation and responsible development of high-quality mineral assets.

We seek Safe Harbor.