Indiana Project Exploration Update

Galantas Gold Corporation

14 October 2026

 

GALANTAS GOLD INTERSECTS 11.84 G/T AuEq OVER 1.48 METERS IN NEW STRUCTURE, IDENTIFIES BROAD NORTH-SOUTH MINERALIZED TREND AND PRIORITIZES EXPLORATION AT INDIANA PROJECT

Toronto, Ontario – October 14, 2026 – Galantas Gold Corporation (TSX-V: GAL | AIM: GAL) (“Galantas” or the “Company”) announces that the Company has received positive results from its ongoing drilling program, and from surface and underground sampling, at its Indiana gold-copper project near Copiapó, Chile. All six drill holes reported today returned gold-copper intersections, the majority of which are in newly identified structures outside the current Mineral Resource Estimate (“MRE”). The Company has completed 16 drill holes totaling 5,960 meters (m) of a planned 12,500 m program (Figure 1).  Assays have been received from six drill holes and from 370 underground and surface channel samples. 

HIGHLIGHTS

• High-grade gold-copper in new structures outside the current MRE, including 1.48 m at 11.84 g/t AuEq (10.3 g/t Au, 1.4% Cu) (hole IN26004), 1.7 m at 7.74 g/t AuEq (2.16 g/t Au, 5.2% Cu) (hole IN26005), and 1.0 m at 5.53 g/t AuEq (4.67 g/t Au, 0.9% Cu), including 0.5 m at 9.79 g/t AuEq (hole IN26006).
• New north-south mineralized trend: a newly exposed structure in the Bondadosa access ramp is at least 5 m wide with visible pyrite and chalcopyrite (assays pending), and trenching across the Zeus structural system revealed up to 20 m of gold-copper mineralization at 0.40 g/t AuEq (Trench 2). The recognition of broad zones of mineralization associated with newly identified north-south trending structures both in surface trenches and underground may add several new targets and highlights the broader exploration potential of the Indiana project.
• New styles of mineralization at Indiana: Newly identified disseminated sulphides, disseminated molybdenite in intrusive rock and hypogene chalcocite-bornite, which may indicate a higher-temperature, vertically zoned system (reported in news release dated August 10, 2026). The significance of this style of mineralization is being evaluated and may lead to modification and expansion of the exploration target concept(s) at Indiana.
• Exploration strategy: The Company will complete its expanded 12,500 m program to further evaluate the potential of these additional new mineralized structures identified and the potential for bulk mineralization before making a production decision at Indiana. Completion of the Preliminary Economic Assessment (“PEA”) will be deferred to incorporate the drill results of this program into an updated MRE and to provide the exploration team time to evaluate the project.

Mario Stifano, the Company’s CEO, commented: “We are very encouraged by these initial exploration results at Indiana.  Every drill hole reported today returned mineralized intersections, and most of them are in new structures outside the current MRE.  The results confirm our belief that Indiana is a fertile area for the discovery of additional gold-copper mineralization and expansion potential of the current MRE. The broad zones of mineralization associated with north-south structures may represent a new bulk-mineable target concept.  In light of these promising exploration opportunities, the Company is modifying its approach to advancing Indiana. Rather than prioritizing short-term production, the Company will be focusing on exploration both from surface and underground to fully understand what appears to be a significantly different mineral deposit than was previously identified. The PEA that was underway is being deferred pending further exploration results. The underground exploration development at Bondadosa and Flor de Espino veins will continue and the mineralized material extracted will be treated at the processing plant leased by the Company in Copiapó.”

Drill Program

The drill program at Indiana is designed to test for extensions of known mineralization along strike and down-dip at the Bondadosa and Flor de Espino veins, test for new mineralized structures not exposed at surface, test for high-grade mineralization at structural intersections, and provide confirmatory and geotechnical information for mine design. Surface and underground channel sampling is being completed to determine grades of newly exposed structures in trenches and in new underground development on the Flor de Espino and Bondadosa veins.

Exploration to date has extended mineralization and confirmed expected widths and grades for the Bondadosa and northwest-southeast Flor de Espino structures, and has also identified new, parallel mineralized structures with these orientations. For example, at the Bondadosa access ramp that is being developed, a new north-south trending structure was identified, which is at least 5 m wide with visible pyrite and chalcopyrite (assays are pending).  As is typical of vein deposits, veins pinch and swell in width and grades can vary over short distances. In three of the reported six drill holes, the targeted vein was intersected but did not return significant grade, consistent with this pinch-and-swell character.

In addition, exploration has also discovered north-south mineralized structures, not previously recognized, which appear to host mineralization over significantly broader widths than the previously identified structures. These structures have been identified both at surface and underground and are now a priority for follow-up exploration.

A summary of the drill results is shown in the table below (assays > 1.0 g/t AuEq are reported), which also indicates if the intersection is within or outside of the current MRE. Gold equivalent (AuEq) is calculated using the same parameters as the current MRE: gold price of US$3,200/oz, copper price US$4.70/lb., and recoveries of 85% Au and 90% Cu for sulphides and 80% Au and 75% Cu for oxides (Refer to the Technical Report titled “Mineral Resource Estimate Indiana Project, Atacama Region, Chile” prepared by DRA Americas Inc., dated December 31, 2025).

The four intersections of the Bondadosa and Flor de Espino veins which did not give significant assays are included in this tabulation.

Drill Hole ID	Dip (degrees)	From      (m)	To       (m)	Interval (m)	Au   (g/t)	Cu   (%)	AuEq   (g/t)	In / Out of MRE	Target
IN26001	-70	66.0	67.5	1.5	1.62	1.6	3.31	Out of MRE	Bondadosa
		Incl. 66.0	67.0	1.0	2.30	2.0	4.48	Out of MRE	Bondadosa
		98.5	99.5	1.0	0.99	0.5	1.55	Out of MRE	New Structure / Fault Zone
IN26004	-60	135.28	135.71	0.43	0.63	0.5	1.13	In MRE	Bondadosa
		172.0	173.48	1.48	10.3	1.4	11.84	Out of MRE	New Structure
		248.58	249.23	0.65	0.99	0.2	1.16	Out of MRE	New Structure
IN26005	-64	15.0	16.0	1.0	1.95	0.2	2.12	Out of MRE	New Structure
		306.1	307.8	1.7	2.16	5.2	7.74	Out of MRE	New Structure
		342.9	343.9	1.0	1.16	0.5	1.65	In MRE	Halo Bond
		347.7	348.4	0.66	1.24	6.2	7.91	In MRE	Bondadosa
		499	499.5	0.5	1.74	0.0	1.74	Out of MRE	New Structure
		502.2	502.7	0.5	1.13	0.0	1.18	Out of MRE	New Structure
IN26006	-74	71.5	72.5	1.0	4.67	0.9	5.53	Out of MRE	New Structure
		Incl. 71.5	72.0	0.5	8.85	1.0	9.79	Out of MRE	New Structure
		165.0	166.0	1.0	3.13	0.0	3.17	Out of MRE	New Structure
		244.0	245.0	1.0	1.3	0.35	1.67	Out of MRE	New Structure
		334.1	337.8	3.70	-	-	< 1 gpt	Out of MRE	Bondadosa
IN26007	-65	411.0	412.7	1.70	0.81	0.2	1.05	Out of MRE	New Structure
		476.4	481.6	5.15	-	-	< 1 gpt	Out of MRE	Bondadosa
IN26011	-26	42.2	42.7	0.5	-	-	< 1 gpt	Out of MRE	Flor De Espino Este
		63.9	64.6	0.69	2.18	0.1	2.26	Out of MRE	New Structure
		92.5	94.5	2.0	2.19	1.7	3.76	Out of MRE	New Structure
		148.8	151.5	2.68	-	-	< 1 gpt	In MRE	Flor De Espino

Note: Widths are reported as drilled and do not represent true widths, which are not yet known.

 

Figure 1. Plan view of the drill holes completed to date. Reported holes are highlighted in yellow.

Underground Flor de Espino Channel Samples

A total of 80 channel samples have been collected from the Flor de Espino ramp.  All assays have been received and values above 1.0 g/t AuEq are summarized below.  Sample locations are shown in Figure 2.

• Flor de Espino vein: 5.0 m at 1.2 g/t Au and 0.279% Cu (1.49 g/t AuEq), including 1.1 m at 2.36 g/t Au and 0.5% Cu (2.89 g/t AuEq)
• Flor de Espino vein: 1.4 m at 2.62 g/t Au and 0.429% Cu (3.08 g/t AuEq)
• New structure: 0.8 m at 1.70 g/t Au and 0.495% Cu (2.23 g/t AuEq)
• New structure: 0.5 m at 5.46 g/t Au 0.35% Cu (5.83 g/t AuEq)

Figure 2. Plan view of the Flor de Espino ramp showing the results of the channel sampling.

Zeus Structural System Trench Samples

The newly identified north-south Zeus zone represents a major structural feature identified across four trenches (Figure 3).  Assays from the 290 channel samples collected have been received. Broad zones of up to 20 m wide of gold and copper mineralization have been identified with grades of up to 3.07 g/t AuEq over 0.7 m, establishing the Zeus structure as a priority target for further exploration. 

Trench 1: 118 channel samples; no significant gold or copper values.

Trench 2: 92 channel samples; 20 m at 0.26 g/t Au and 0.13% Cu (0.40 g/t AuEq), including 0.8 m at 0.98 g/t Au and 0.5% Cu (1.51 g/t AuEq) and 0.9 m at 0.75 g/t Au and 0.48% Cu (1.26 g/t AuEq).

Trench 3: 24 channel samples; 4.5 m at 0.55 g/t Au and 0.22% Cu (0.78 g/t AuEq), including 0.7 m at 2.27 g/t Au and 0.75% Cu (3.07 g/t AuEq).

Trench 4: 56 channel samples; 10 m at 0.28 g/t Au and 0.11% Cu (0.40 g/t AuEq), including 0.5 m at 0.63 g/t Au and 0.24% Cu (0.89 g/t AuEq), and 0.5 m at 0.67 g/t Au and 0.18% Cu (0.84 g/t AuEq).

Figure 3. Plan view of the trench sample locations in Zeus N-S Structural System.

Sampling and QA/QC

Drill core was logged, split, and sampled at site by Company personnel. Samples were submitted to Bureau Veritas, a certified Laboratory in Santiago, Chile. Samples were analyzed using Fire Assay-Atomic Absorption for gold, with gravimetric assay for samples exceeding 5 g/t Au; Atomic Absorption for total copper and total silver; and 36-element ICP-OES using total digestion (4-acid digestion). The Company’s analytical protocol includes appropriate QA/QC procedures including insertion of certified standards, blanks, and duplicates.

Qualified Person

Scientific and technical disclosures in this news release have been reviewed and approved by Mr. Dorian L. (Dusty) Nicol (P. Geo., Chartered Geo., FAusIMM), the Company’s Senior Vice President Exploration, who is considered, by virtue of his education, experience and professional association, a “qualified person” as defined by National Instrument 43-101 and the AIM Rules for Companies.

About Galantas Gold

Galantas Gold Corporation 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 exploration and development of the Indiana and Andacollo Gold projects in Chile. Galantas’ strategy is to build long-term shareholder value through disciplined capital allocation, technically rigorous project evaluation, and responsible development of high-quality mineral assets.

Enquiries

Galantas Gold Corporation

Mario Stifano: Chief Executive Officer

Email: [e-mail]

Website: www.galantas.com

Grant Thornton UK Advisory & Tax LLP (AIM Nomad)

Philip Secrett, Harrison Clarke, Elliot Peters

Telephone: [phone]

SP Angel Corporate Finance LLP (AIM Broker)

David Hignell, Charlie Bouverat (Corporate Finance)

Grant Barker (Sales & Brokering)

Telephone: [phone]

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995.

Forward-looking information in this news release includes, but is not limited to, statements regarding the results and interpretation of exploration at the Indiana Project, including the significance of newly identified structures and styles of mineralization; the timing and completion of the Indiana drill program; the preparation of an updated MRE and the resumption and completion of the PEA; and the continuation of underground exploration development at Bondadosa and Flor de Espino veins with the mineralized material extracted  to be treated at the processing plant leased by the Company in Copiapó.

Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, including, without limitation, assumptions regarding: the Company’s ability to satisfy its payment obligations under the applicable agreements; the availability of financing on reasonable terms; commodity prices; exchange rates; the receipt and maintenance of required regulatory approvals and permits; the accuracy of mineral resource estimates; and the Company’s ability to execute its development plans as contemplated.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to differ materially from those expressed or implied thereby, including, without limitation: the risk that the Company may not be able to complete the staged payment obligations, which could result in the loss of all or part of its interest in the Andacollo Gold Project; risks relating to financing, development and operating activities; commodity price volatility; permitting and regulatory risks; uncertainties inherent in mineral resource estimates; the risk that exploration results, including results from newly identified structures, may not be repeated or may not lead to an increase in mineral resources; risks associated with extracting and processing mineralized material without a feasibility study or a production decision based on mineral reserves; and general economic, market and business conditions.

Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information except as required by applicable law.

Neither TSXV nor its Regulation Services Provider, as that term is defined in the policies of the TSXV, accepts responsibility for the adequacy or accuracy of this news release. The Company is admitted to trading on AIM and, accordingly, further disclosure may be found on the Company’s profile on the London Stock Exchange website.

The information contained in this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014, which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018. This information is disclosed in accordance with the Company’s obligations under Article 17 of UK MAR. Upon publication of this announcement, this inside information is now considered to be in the public domain.

 

 

 

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