Galleon Gold Issues Shares for Interest Payment on Debentures

Galleon Gold Corp. has announced the issuance of common shares to fulfill its interest payment obligation on convertible debentures. This payment, totaling $132,224.38, was settled by issuing 202,635 common shares to holders of the convertible debentures, which were originally issued on April 12, 2024, April 19, 2024, and April 29, 2024. The shares will be subject to a hold period of four months and one day, expiring on March 25, 2026. Galleon Gold has received final acceptance from the TSX Venture Exchange for this transaction.

The issuance of shares is part of Galleon Gold’s ongoing financial strategy as it progresses its operations at the West Cache Gold Project in Timmins, Ontario. This advanced exploration and development project is strategically located near prominent mining sites, including Pan American Silver’s Timmins West Mine and Discovery Silver’s Hollinger Mine.

Project Development and Future Plans

Galleon Gold is currently preparing for its initial test mining at West Cache, which involves an 86,500-tonne underground bulk sample. This bulk sample program is designed to provide critical data for feasibility studies, supporting the company’s goal of systematically de-risking the project while expanding its asset base through grassroots exploration.

R. David Russell, Chairman and CEO of Galleon Gold, emphasized the importance of these activities in his statements. The results from the bulk sample are expected to inform future operational decisions and enhance the company’s resource estimates.

Forward-Looking Statements and Market Considerations

The announcement includes forward-looking statements regarding Galleon Gold’s strategies and anticipated outcomes. These statements reflect the company’s current expectations and beliefs about its operations and market conditions. However, they also entail risks and uncertainties that may affect actual results.

Factors such as changes in global mineral commodity prices, market dynamics, and potential challenges in securing additional capital could significantly impact Galleon Gold’s performance. The company warns investors to be cautious in relying on these forward-looking statements, as actual events may differ from projections.

For further inquiries, Galleon Gold can be contacted via R. David Russell at (416) 644-0066 or through its investor relations representative, Graham Farrell, at (416) 842-9003. More information can be found on their official website at www.galleongold.com.

Overall, Galleon Gold’s recent share issuance is a strategic move as it advances its exploration efforts in a competitive market, aligning with its commitment to delivering value to shareholders while navigating the complexities of the mining industry.