RNS Number : 1979K

Galantas Gold Corporation

04 May 2022


May 4, 2022, TORONTO, CANADA - Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) ("Galantas" or the "Company") reports that it has awarded 1,742,500 incentive stock options on the Company's common shares to directors, employees and consultants, in accordance with the terms of the Company's incentive Stock Option Plan. The exercise price for the options, which expire on May 3, 2027, is C$0.60 per share and the grant of these options was approved by the Board of Directors on April 27, 2022. The options will vest as to one third immediately and one third on each of May 3, 2023 and May 3, 2024, and are valid for a 5-year period from the date of grant.

The number of options issued to directors, employees and consultants are noted below:

Name of Optionee Position Number of Options

James Clancy Director 62,500

Roisin Magee Director & Chair 92,500

Mario Stifano Director & Officer 500,000

Brent Omland Director & Strategic Advisor 62,500

David Cather Director 62,500

   Brendan Morris                           Officer  125,000 

Alan Buckley Officer 125,000

   George Duguay                          Officer 37,500 

Employees and Consultants Various 675,000

                                                                 Total Options Granted                           1,742,500 

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 4,885,000 which results in the total number of incentive stock options now outstanding for the Company being 6,627,500, representing 7.98% of the Company's issued and outstanding shares, which total 83,016,801.

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.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

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. It also trades on the OTCQX Exchange under the symbol GALKF. The Company's strategy is to create shareholder value by operating and expanding Northern Ireland's first gold mine.


Galantas Gold Corporation

Mario Stifano: Chief Executive Officer

Email: info@galantas.com

Website: www.galantas.com

Telephone: +44 (0)28 8224 1100

Grant Thornton UK LLP (AIM Nomad)

Philip Secrett, Harrison Clarke, George Grainger, Samuel Littler

Telephone: +44(0)20 7383 5100

Panmure Gordon & Co (AIM Broker & Corporate Adviser)

Hugh Rich, John Prior

Telephone: +44(0)20 7886 2500



 1.    Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name:                                    1. James Clancy 
                                                 2. Roisin Magee 
                                                 3. Mario Stifano 
                                                 4. Brent Omland 
                                                 5. David Cather 
                                                 6. Brendan Morris 
                                                 7. Alan Buckley 
                                                 8. George Duguay 
      ---------------------------------------  ------------------------------ 
  2.   Reason for the notification 
 a)    Position/status:                         1. Director 
                                                 2. Director & Chair 
                                                 3. Director & Officer 
                                                 4. Director & Strategic 
                                                 5. Director 
                                                 6. Officer 
                                                 7. Officer 
                                                 8. Officer 
      ---------------------------------------  ------------------------------ 
 b)    Initial notification/Amendment:          Initial Notification 
      ---------------------------------------  ------------------------------ 
 3.    Details of the issuer, emission allowance market 
        participant, auction platform, auctioneer or auction 
 a)    Name:                                    Galantas Gold Corporation 
      ---------------------------------------  ------------------------------ 
 b)    LEI:                                     LEI: 213800JKVPLLKO4KVB93 
      ---------------------------------------  ------------------------------ 
 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 
 a)    Description of the financial             Common Shares of nil 
        instrument type of instrument            par value 
        Identification Code 
                                                 ISIN: CA36315W2022 
      ---------------------------------------  ------------------------------ 
 b)    Nature of the transaction                Grant of Stock Options 
      ---------------------------------------  ------------------------------ 
 c)    Price(s) and volume                      Price for all grants 
                                                 C$0.60 per share. 
                                                 1. 62,500 
                                                 2. 92,500 
                                                 3. 500,000 
                                                 4. 62,500 
                                                 5. 62,500 
                                                 6. 125,000 
                                                 7. 125,000 
                                                 8. 37,500 
      ---------------------------------------  ------------------------------ 
 d)    Aggregated information                   Stock Options: 1,742,500 
                                                 Exercise price: C$0.60 
      ---------------------------------------  ------------------------------ 
 e)    Date of the transaction                  May 3, 2022 
      ---------------------------------------  ------------------------------ 
 f)    Place of the transaction                 Outside a trading venue 
      ---------------------------------------  ------------------------------ 

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May 04, 2022 02:02 ET (06:02 GMT)

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