EXERCISE OF DEBENTURES AND WARRANTS

GALANTAS GOLD ANNOUNCES THE EXERCISE OF DEBENTURES AND WARRANTS

Toronto, Ontario - May 15, 2026 - Galantas Gold Corporation (TSX-V: GAL | AIM: GAL) ("Galantas" or the "Company") announces the following exercises of debentures and warrants.

On 11 May 2026, US$10,000 convertible debentures were converted resulting in over 39,215 ordinary shares in the Company being converted at a price of US$0.255.

On 12 May 2026, warrants over 44,147,000 ordinary shares in the Company were exercised at an exercise price of C$0.12 per ordinary share. 35,937,500 of the warrants were exercised by Ocean Partners Holdings Ltd. ("Ocean Partners"). Following the exercise of the warrants, Ocean Partners will hold approximately 84,956,946 ordinary shares equal to 15.5% of the Company's issued share capital.

On 13 May 2026, compensation warrants over 175,001 ordinary shares in the Company were exercised at an exercise price of C$0.08 per ordinary share.

Application will be made to the London Stock Exchange for the 44,361,216 new ordinary shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the new ordinary shares on AIM will commence on or around 20 May 2026. The new ordinary shares will rank pari passu with the existing ordinary shares in the Company.

Following Admission, the Company's issued share capital will consist of 550,036,988 ordinary shares.

About Galantas Gold Corporation

Galantas Gold Corporation is a publicly traded gold company focused on the acquisition, development, and advancement of gold assets in stable mining jurisdictions. The Company is currently advancing the Indiana Project in Chile toward production.

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.

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 on the matter can be found on the Company's profile on the London Stock Exchange website.

Enquiries

Galantas Gold Corporation

Mario Stifano: Chief Executive Officer

Email: [email protected]

Website: www.galantas.com

Telephone: +1 416-848-7744

Grant Thornton UK LLP (AIM Nomad)

Philip Secrett, Harrison Clarke, Elliot Peters

Telephone: +44(0)20 7383 5100

SP Angel Corporate Finance LLP (AIM Broker)

David Hignell, Charlie Bouverat (Corporate Finance)

Grant Barker (Sales & Brokering)

Telephone: +44(0)20 3470 0470