Mr. David Russell reports

GALLEON GOLD AMENDS CREDIT AGREEMENT WITH PAN AMERICAN SILVER

Galleon Gold Corp. and Pan American Silver Corp. have made an amendment to the credit agreement for the outstanding credit facility provided by Pan American and detailed in the company's Dec. 30, 2025, press release.

The amendment agreement formalizes the parties' prior agreement to remove the provisions permitting the company to satisfy interest payments and standby fees through the issuance of common shares of the company. Pursuant to the amendment, such provisions have been removed from the credit agreement and accordingly, all interest and standby fee obligations under the credit agreement will be payable exclusively in cash.

All other material terms of the credit agreement remain unchanged and continue in full force and effect.

Pan American Silver is a related party of the company for purposes of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, and the amendment constitutes a related party transaction for the company under MI 61-101. In connection with the amendment, the company has relied on the exemption from the formal valuation requirement under Section 5.5(b) of MI 61-101 as the company's common shares are not listed or quoted on a specified market, and exemption from the minority shareholder approval requirement under Section 5.7(1)(f) of MI 61-101, as the credit facility, as amended, is now a commercial loan with no equity or voting component.

Grant of stock options

The company also announces that pursuant to the company' stock option plan a total of 875,000 stock options have been granted to directors, officers, employees and consultants of the company. The options are exercisable into one common share of the company at a price of 98 cents, vest immediately and expire on March 31, 2031.

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.