Issue of Share Options

GALANTAS GOLD CORPORATION

TSXV & AIM : Symbol GAL

GALANTAS REPORTS AWARD OF INCENTIVE STOCK OPTIONS

DATE : 9th September 2011

Galantas Gold Corporation, (the Company) a gold mine producer and explorer in Northern Ireland, reports that it has awarded 4,200,000 incentive stock options on the Company's common shares to Directors, officers , consultants and key employees, in accordance with the terms of the Company's incentive Stock Option Plan. The exercise price for the options, which expire on September 6th, 2016 is 10 cents Canadian per share. These options will vest as to one third immediately, one third on September 6th , 2012 and the remaining third on September 6th , 2013.

The individual awards to Directors are :-

Roland Phelps Director, President and CEO 1,000,000 options

Jack Gunter Director and Chairman 500,000 options

James Golla Director 250,000 options

James Clancy Director 250,000 options

Ronald Alexander Director 250,000 options

Norman Brewster Director 250,000 options

The total number of incentive stock options awarded under the scheme to Directors, officers, consultants and key employees stand at 15,750,000, with exercise prices of between 10 cents and 23 cents Canadian per share.

This disclosure has been authorised by Roland Phelps (President & CEO) Galantas Gold Corporation.

Galantas Gold Corporation Issued and Outstanding Shares total 235,650,055.

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.

Enquiries

Galantas Gold Corporation Jack Gunter P.Eng - Chairman Investor Relations ConsultantRoland Phelps C.Eng - President & CEO Courtenay Heading (Maclir Consulting Ltd)Email: [email protected] Email : [email protected]  Website: www.galantas.com Telephone : (UK) +44 (0) 7624 424 455 Telephone: +44 (0) 2882 241100

Religare Capital Markets Telephone: +44 (0) 20 7444 0800 Nick Harriss/Ben Jeynes

Beaufort International Associates LtdTelephone: +44 (0) 20 7930 8222 Barry Gibb/Saif Janjua (Corporate Finance)

Niall Carrig (Corporate Broking)