Galantas Gold Completes Andacollo Gold Acquisition

Galantas Gold Corporation has finalized the acquisition of Sol de Oro Mining Ltd., securing complete ownership of the Andacollo Gold Project in central Chile. This acquisition involved a cash payment of US$1.5 million and the assumption of specific obligations to former shareholders of Compañía Minera e Inmobiliaria Dragones SpA. The transaction promises to enhance Galantas' asset portfolio, particularly a significant open-pit gold resource. The company's strategic plan includes a targeted drill program for high-grade gold at El Sauce and Toro, with production expected in 2027.

The transaction cost Galantas US$32.5 million, spread over several payments until 2029. Key installments include significant payments to former Dragones shareholders and the issuance of 91,313,890 common shares to Luis Catril, who will now hold a noteworthy stake in Galantas. The project also involves maintaining agreements with K2 Resources Inc. and ExGen Resources Inc. under existing silver stream arrangements.