Galantas Gold Grants Stock Options

TORONTO, April 30, 2024 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) reports that it has awarded 3,175,000 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 April 29, 2029, is C$0.23 per share and the grant of these options was approved by the Board of Directors on April 23, 2024. The options will vest as to one third immediately and one third on each of April 29, 2025 and April 29, 2026, 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	125,000
Róisín Magee	Director & Chair	200,000
Mario Stifano	Director & Officer	1,000,000
Brent Omland	Director & Strategic Advisor	125,000
David Cather	Director	125,000
Brendan Morris	Officer	250,000
Alan Buckley	Officer	250,000
George Duguay	Officer	75,000
Employees and Consultants	Various	1,025,000
	Total Options Granted	3,175,000

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 5,777,500 which results in the total number of incentive stock options now outstanding for the Company being 8,952,500, representing 7.8% of the Company’s issued and outstanding shares, which total 114,535,293.

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.