Mr. David Russell reports

GALLEON GOLD COMPLETES REPURCHASE OF ROYALTY ON THE WEST CACHE PROJECT

Galleon Gold Corp. has successfully completed the repurchase of a 3-per-cent net smelter return royalty on the company's West Cache gold project from a wholly owned subsidiary of Newmont Corp. (previously announced on Oct. 16, 2025).

Pursuant to the agreement, Galleon Gold has exercised its existing right to repurchase 1 per cent of the royalty for $1-million and, concurrently, paid $10-million to acquire the remaining 2-per-cent royalty. Upon closing of the transaction, the royalty has been fully extinguished, resulting in West Cache's principal resource being 100-per-cent unencumbered by net smelter return royalties. All amounts are in Canadian dollars.

CEO comment

David Russell, president and chief executive officer of Galleon Gold, commented: "We are very pleased to have successfully completed this transaction with Newmont. As West Cache advances toward development, the elimination of the royalty significantly strengthens West Cache's long-term economics. Completing this repurchase of the NSR at a predevelopment stage positions the company to create maximum value for Galleon Gold's shareholders as the project continues to grow."

About the royalty

The royalty originated from an option agreement dated July 12, 1999, exercised on or about Aug. 17, 2005, under which Placer Dome (CLA) Ltd. was granted a net smelter return royalty covering mineral claims that now form part of the West Cache property package. Through a series of historical transactions, the royalty was transferred to successor entities, with Newmont, through a wholly owned subsidiary, being the holder of the royalty immediately prior to closing. Galleon Gold, through its wholly owned subsidiary Explor Resources Inc., was the payor of the royalty prior to its repurchase and extinguishment.

About Galleon Gold Corp.

Galleon Gold is advancing the West Cache gold project with a disciplined, derisking strategy centered on resource growth and an upcoming 86,500-tonne bulk sample program, positioning the company to unlock long-term shareholder value.

We seek Safe Harbor.