TORONTO, Dec. 19, 2025 (GLOBE NEWSWIRE) -- Galantas Gold Corporation ((TSX-V &, AIM: GAL, OTCQB:GALKF) ("Galantas" or the "Company") wishes to provide an update with respect to its previously announced acquisition (the "Transaction") of all of the issued and outstanding shares of RDL Mining Corp. ("RDL") and its previously announced private placement (the "Offering") of units of the Company (each, a "Unit"), for $0.08 per Unit (the "Offering Price"), led by Canaccord Genuity Corp. and Haywood Securities Inc. (together, the "Agents").
The Company is working diligently to satisfy remaining closing conditions, including obtaining approval of the Transaction from the TSX Venture Exchange (the "TSXV"), and both the Offering and the Transaction are expected to be completed during 2025. Trading in the common shares of Galantas ("Common Shares") is currently halted in accordance with TSXV Policy 5.3.
Clarification of the RDL Option
Once the Transaction is completed, Galantas (indirectly through RDL) will hold an option (the "Option") to acquire a 100% interest in the Indiana gold/copper project located in Chile (the "Indiana Project"). In order to exercise the Option, RDL must make payments totaling US$15 million to Minería Indiana Limitada ("Indiana Limitada"), the current owner of the Indiana Project, over a period of five years, with the first payment of US$500,000 paid in the fourth quarter of 2025. The remaining payments consist of US$1 million in years one and two, US$2 million in years three and four and a final payment of US$8.5 million in year five (together, the "Option Payments").
Until RDL has exercised the Option, RDL will "lease" the Indiana Project from Indiana Limitada in exchange for payments as follows:
If the Indiana Project is in production, the monthly payment is equivalent to 10% of the net sales of minerals from the mining concessions.
If the Indiana Project is not in production, the monthly payment based on net sales will not be paid, and the minimum payment below will be paid.
On an annual basis, the minimum payment required is 25% of the Option Payment due for that year, and the maximum payment required is 50% of the Option Payment due for that year.
If the Indiana Project is not in production, minimum payments will still be payable on an annual basis. As soon as the Option Payments are paid in full, RDL will no longer need to make any lease payments.
Such payments are made in exchange for access to the Indiana Project and are not credited as Option Payments.
Historical Mineral Resources
The Company would like to clarify and restate certain technical information previously provided in respect of the 2013 Technical Report (as defined below), which was included in the Company's press release dated November 13, 2025. See below for the corrected information.
A historical inferred mineral resource estimate for the Indiana Project1 outlines approximately 714,600 ounces of gold equivalent (AuEq)2, consisting of approximately 4,546,300 tonnes, averaging 4.89 parts per million (ppm) AuEq, supported by a technical report (the "2013 Technical Report") prepared for Minera Activa SpA in accordance with National Instrument 43-101 ...
