TIDMGAL
RNS Number : 7712C
Galantas Gold Corporation
23 June 2021
GALANTAS GOLD CORPORATION
GALANTAS APPOINTS ADVISORY BOARD AND GRANTS STOCK OPTIONS
JDS MINING ENGAGED TO WORK ON CAVANACAW UNDERGROUND MINE
June 23, 2021. Galantas Gold Corporation (TSX-V: GAL; AIM: GAL)
("Galantas" or the "Company") is pleased to announce the following
appointments to the Company's Advisory Board to advise and assist
management in the future growth of the Company.
The Company welcomes Anthony (Tony) Makuch, Tim Warman, John
Arthurs and Ernest Mast to the Advisory Board.
Tony Makuch
Anthony (Tony) Makuch is currently the President and Chief
Executive Officer of Kirkland Lake Gold Inc. Prior to joining
Kirkland Lake Gold, Mr. Makuch was President and Chief Executive
Officer at Lake Shore Gold Inc. from 2008 until its acquisition by
Tahoe Resources in 2016. Mr. Makuch holds a Bachelor of Science
degree (Honours in Applied Earth Sciences) from the University of
Waterloo in Ontario, and both a Master of Science degree in
Engineering and a Master of Business Administration from Queen's
University in Ontario. He is a professional engineer (Ontario) with
over 35 years of management, operations and technical experience in
the mining industry.
Tim Warman
Tim Warman is a professional geologist with over 25 years of
experience in all phases of mineral exploration, from grassroots
exploration to feasibility and development. He is currently Chief
Executive Officer and Director of Fiore Gold Ltd. He was President
of Dalradian Resources, which is developing the Curraghinalt gold
project in Northern Ireland, from 2012 to 2015. Mr. Warman is a
graduate of the University of Manitoba (MSc) and McMaster
University (BSc), and is a member of the Association of
Professional Geoscientists of Ontario.
John Arthurs
John Arthurs is a Chartered Geologist with 54 years of
professional experience in geological mapping and exploration in
the mineral industry and government service. Mr. Arthurs led the
first geochemical survey of the Dalradian rocks in Northern Ireland
during his tenure at the Geological Survey of Northern Ireland,
that yielded the first published indications of gold and the first
modern description of the Dalradian structure and stratigraphy in
the region, still used today.
He subsequently conducted exploration in 15 countries for gold
and base metal mining companies. Mr. Arthurs was Director of the
Geological Survey of Northern Ireland, advising government on earth
science policy, surveys, minerals legislation and licencing.
Ernest Mast
Ernest Mast has 30 years of experience in various technical and
executive roles in the mining industry, across a wide range of
commodities, geographies and development stages. Mr. Mast is
currently President, Chief Executive Officer and Director of Doré
Copper Mining Corp. He previously held the positions of President
and Chief Executive Officer at Primero Mining Corp. and Chief
Executive Officer of Minera Panama S.A. - a subsidiary of Inmet
Mining Corporation - developing the world class Cobre Panama
project. He holds Bachelor's and Master's degrees in metallurgical
engineering from McGill University and is a professional engineer
(Quebec).
Mario Stifano, Director and Chief Executive Officer of Galantas,
said: "We are very pleased that Tony, Tim, John and Ernest have
agreed to join our Advisory Board. Our technical, execution and
operational capabilities have been enhanced as a result of these
appointments. The calibre of their leadership and experience
positions Galantas to generate value for all our stakeholders as we
work to ramp up commercial production and capitalize on the
exploration potential to expand the high-grade gold resources at
the Omagh mine and for new discoveries."
Galantas Engages JDS to Work on Cavanacaw Underground Mine
Galantas is also pleased to announce that it has formally
engaged JDS Energy & Mining Inc. ("JDS") to conduct work on the
Company's Cavanacaw underground mine in Omagh, Northern Ireland.
JDS is a Canadian engineering, construction, and underground
development company specialized in providing value-added solutions
for mineral resource projects.
JDS will work with the Company's technical team to provide
Galantas with fit-for-purpose solutions with a focus on mine design
(development and stoping), mine scheduling (development and
production), and underground ventilation - as part of Galantas'
plan to ramp up commercial production.
Galantas Grants Stock Options
Galantas has awarded 425,000 incentive stock options of the
Company's common shares to consultants and officers, in accordance
with the terms of the Company's incentive Stock Option Plan. The
exercise price for the options, which expire on June 21, 2026, is
C$0.73 per share and the grant of these options was approved by the
Board of Directors on June 21, 2021. The options will vest as to
one third immediately and one third on each of June 21, 2022 and
June 21, 2023, and are valid for a 5-year period from the date of
grant.
The number of options issued to consultants and officers are
noted below:
Name of Optionee Position Number of Options
Brendan Morris Officer 100,000
Consultants Various 325,000
Total Options Granted 425,000
Following the award of these options, the interests in the
Company's common shares of the Person Discharging Managerial
Responsibility are as follows:
Name New options issued Total unexercised options Shares held
held following issue
Brendan Morris 100,000 100,000 12,000
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The Company's Stock Option Plan allows for the issuance of up to
10% of issued and outstanding share capital in the form of
incentive stock options. The total number of incentive stock
options outstanding prior to this award was 4,485,000 which results
in the total number of incentive stock options now outstanding for
the Company being 4,910,000, representing 6.7% of the Company's
issued and outstanding shares, which total 73,270,468.
This disclosure has been authorized by Mario Stifano, Director
and CEO of Galantas Gold Corporation.
The aforementioned stock option grants are subject to TSX
Venture Exchange approval.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
About Galantas Gold Corporation
Galantas Gold Corporation is a Canadian public company that
trades on the TSX-Venture Exchange and the London Stock Exchange
AIM market, both under the symbol GAL. The Company's strategy is to
create shareholder value by operating and expanding Ireland's first
gold mine.
Enquiries
Galantas Gold Corporation Mario Stifano: Chief Executive
Officer
Email: info@galantas.com Website: www.galantas.com Telephone: +44 (0) 2882 241100
Grant Thornton UK LLP (AIM Nomad)
Philip Secrett, Harrison Clarke, George Grainger
Telephone: +44(0)20 7383 5100
Panmure Gordon & Co (AIM Broker & Corporate Adviser)
Nick Lovering, Hugh Rich
Telephone: +44(0)20 7886 2500
(UK) DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND
THEIR CLOSELY ASSOCIATED PERSONS
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Brendan Morris
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2. Reason for the notification
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a) Position/status: Chief Operating Officer
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b) Initial notification/Amendment: Initial Notification
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3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
-----------------------------------------------------------------------
a) Name: Galantas Gold Corporation
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b) LEI: LEI: 213800JKVPLLKO4KVB93
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4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type
of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
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a) Description of the financial Common Shares of nil
instrument type of instrument par value
Identification Code
ISIN: CA36315W2022
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b) Nature of the transaction Grant of Stock Options
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c) Price(s) and volume 100,000 options at C$0.73
per share
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d) Aggregated information Stock Options: 100,000
Exercise price: C$0.73
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e) Date of the transaction June 21, 2021
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f) Place of the transaction Outside a trading venue
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END
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