Mr. Eric Sprott, a shareholder, reports

ERIC SPROTT ANNOUNCES CHANGES TO HIS HOLDINGS OF GALANTAS GOLD CORPORATION

2176423 Ontario Ltd., a corporation beneficially owned by Eric Sprott, acquired today 50 million units of Galantas Gold Corp. through a private placement, at eight cents per unit for total consideration of approximately $4-million. Each unit consists of one common share and one share purchase warrant, entitling the holder to acquire one share at 12 cents for 36 months from the date of issuance.

Prior to the acquisition, Mr. Sprott beneficially owned and controlled 10,166,667 shares, representing approximately 7.7 per cent of the outstanding shares. Mr. Sprott now beneficially owns and controls 60,166,667 shares and 50 million warrants, representing approximately 13.1 per cent of the outstanding shares on a non-diluted basis and 19,.999 per cent of the outstanding shares on a partially diluted basis (assuming exercise of such number of warrants that do not restrict him from owning or controlling 20 per cent or more of the shares on a partially diluted basis), being an increase in holdings above 10 per cent and, therefore, requiring the filing of an early warning report.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment, and may acquire additional securities, including on the open market or through private acquisitions, or may sell the securities, including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of the early warning report with respect to the foregoing will appear on Galantas Gold's profile on SEDAR+ and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (2176423 Ontario, 7 King St. East, Suite 1106, Toronto, Ont., M5C 3C5).