GALANTAS PROVIDES DEVELOPMENT UPDATE

GALANTAS GOLD CORPORATION

TSXV - AIM "GAL"

GALANTAS PROVIDES DEVELOPMENT UPDATE

13th April 2017 Galantas Gold Corporation ("Galantas", the "Company" or its subsidiary) is pleased to report that construction of the portal works for development of its underground gold mine are complete.

The portal works involved drilling and blasting of the initial opening, the installation of grouted cable bolts and meshing and bolting of the adjacent rock faces.

The Company has also been in discussions with Police Service Northern Ireland regarding further blasting arrangements for the underground mine development. Until those arrangements are in place, the tunnel development is temporarily on hold. The delay is not expected to exceed one month and the Company will advise if the delay is significantly prolonged.

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.

Enquiries : Galantas Gold CorporationL. Jack Gunter P.Eng - Chairman, Roland Phelps C.Eng - President & CEO

Email: [email protected] Telephone: (UK) +44 (0) 2882 241100

Website: www.galantas.com 

Grant Thornton UK LLP (Nomad)

Philip Secrett, Richard Tonthat, Harrison Clarke: Telephone: +44(0)20 7383 5100

Whitman Howard Ltd (Broker & Corporate Adviser)

Nick Lovering, Grant Barker: Telephone: +44(0)20 7659 1234