Toronto, Ontario--(Newsfile Corp. - March 31, 2026) - Galleon Gold Corp. (TSXV: GGO) (OTCQX: GGOXF) (FSE: 3H90) (the "Company" or "Galleon Gold") announces that the Company and Pan American Silver Corp. ("Pan American") have made an amendment to the credit agreement (the "Credit Agreement") for the outstanding credit facility provided by Pan American and detailed in the Company's December 30, 2025 press release.

The amendment agreement (the "Amendment") 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 ("MI 61-101"), 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 (the "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 $0.98, vest immediately and expire on March 31, 2031.

About Galleon Gold

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

Forward-Looking Statements

This news release contains certain "forward looking statements", as defined under applicable Canadian securities laws, that reflect the current views and/or expectations of Galleon Gold with respect to its long-term strategy, financing plans, proposed work, plans, bulk sample program and other reports including the PEA for its projects. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which Galleon Gold operates. Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding the use of the proceeds of from the Facility, the sufficiency of funds to complete and the completion of the potential mineralization and resources, exploration results, expectations, plans, and objectives of Galleon Gold are forward-looking statements that involve various risks. The following are important factors that could cause Galleon Gold's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions and uncertainty of access to additional capital, risks inherent in mineral exploration, delays in the receipt of government approvals, risks associated with development, construction, mining operations and third party contractor activities, risks related to unanticipated events related to health, safety and environmental matters. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Galleon Gold undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290642