New Risk • Jun 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CA$136.6m (US$98.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (91% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$136.6m market cap, or US$98.1m). New Risk • May 01
New major risk - Revenue and earnings growth Earnings have declined by 2.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (96% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$128.2m market cap, or US$94.4m). Announcement • Mar 10
Galleon Gold Corp., Annual General Meeting, May 20, 2026 Galleon Gold Corp., Annual General Meeting, May 20, 2026. Location: ontario, toronto Canada New Risk • Feb 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CA$129.8m (US$95.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (97% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$129.8m market cap, or US$95.1m). Announcement • Jan 14
Galleon Gold Corp. Initiates Surface Site Development Activities at its Wholly Owned West Cache Gold Project in Timmins, Ontario Galleon Gold Corp. announced it has initiated surface site development activities at its wholly owned West Cache Gold Project in Timmins, Ontario ("West Cache" or the "Project"), marking a critical step in the Project's transition from permitting to execution. The surface development program directly supports the planned extraction of an approved 86,500-tonne bulk sample and represents a key milestone for the Company. Surface Development Program. Following a competitive request for proposal ("RFP") process, the Company awarded the initial phase of construction to Aki-Caron, a joint venture between Caron Equipment Inc. ("Caron") and Mattagami First Nation. Contractractor selection prioritized safety performance, environmental stewardship, local and First Nations participation, cost discipline, scheduling, and execution capability. Caron is a well-established mine site contractor with more than 40 years of experience supporting mining and development projects throughout the Timmins region and Northern Ontario. Initial surface work includes construction of the mine area pad, permanent and temporary access and haul roads, overburden boxcut excavation, organics and overburden stockpiles, and the start of the water management infrastructure. The boxcut and portal access are critical path items required to initiate underground development and extract the approved bulk sample. Certain permanent water management elements, including settling and polishing ponds, are planned for a subsequent development phase in the Spring. Utilities Infrastructure Progress. Meanful progress has also been achieved on the Project utilities. Clearing of the corridor for the 27.6 kV distribution line has been completed. Timmins based MCSS Enterprises has been retained for all high-voltage installation work. Utility poles have been delivered to site, with helicopter-assisted placement completed. The high-voltage line installation is approximately 60% complete. Derisked Development. The underground test mining and bulk sampling program is designed to generate critical inputs for future feasibility studies, including mining methods, geotechnical conditions, and metallurgical performance. Combined with recently secured financing and strategic partnerships, this work advances West Cache toward potential development with materially reduced technical and execution risk. Announcement • Dec 31
Galleon Gold Corp. announced that it has received CAD 73.7875 million in funding from Pan American Silver Corp., 2176423 Ontario Ltd. On December 31, 2025, Galleon Gold Corp. raised CAD 46,000,000 of debt financing in Senior Secured Convertible Debt and closed the transaction. New Risk • Dec 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 16% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (89% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (CA$118.4m market cap, or US$85.9m). New Risk • Dec 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 89% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (89% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$94.2m market cap, or US$68.1m). Announcement • Nov 25
Galleon Gold Corp. announced that it expects to receive CAD 71 million in funding from Pan American Silver Corp. and other investors Galleon Gold Corp. announced that it has entered into a term sheet to issue non-convertible debt for gross proceeds of CAD 46,000,000, announced a non-brokered private placement to issue 17,083,333 units at an issue price of CAD 0.60 for gross proceeds of CAD 10,249,999.8 and also entered into an agreement with Cormark Securities Inc. in connection with best effort private placement to issue 24,583,333 units at an issue price of CAD 0.60 for gross proceeds of CAD 14,749,999.8 for aggregate proceeds of CAD 70,999,999.6 on November 24, 2025. The transaction includes participation from returning investor, Pan American Silver Corp. under debt facility and non-brokered private placement. Each unit consist of one common share and one-half common share purchase warrant. Each warrant entitle the holder to purchase one common share at a price of CAD 0.75 on the date that is 24 months following the closing date. The completion of each component of the financing is subject to customary conditions, including the negotiation and execution of definitive documentation and the receipt of all necessary regulatory approvals, including final approval of the TSX Venture Exchange. The LIFE units will be offered purchasers in each of the provinces of Canada and in certain other jurisdictions outside of Canada and the United State. The company expects the debt facility to be in place before December 31, 2025. The offerings are expected to close concurrently on or about December 4, 2025. The common shares and non-brokered warrants comprising the non-brokered units sold to Pan American, as well as the common shares issuable upon exercise of the non-brokered warrants, will be subject to a four-month hold period pursuant to applicable Canadian securities laws. The company has granted the agents an option, exercisable at their sole discretion in whole or in part, at any time prior to closing date, to increase the size of the LIFE offering to raise additional gross proceeds of up to CAD 2,212,500. The common shares and LIFE warrants comprising the LIFE units, as well as the common shares issuable upon exercise of the LIFE warrant will not be subject to a hold period pursuant to applicable Canadian securities laws. New Risk • Oct 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (CA$46.9m market cap, or US$33.4m). Announcement • Aug 14
Galleon Gold Corp. announced that it expects to receive CAD 8 million in funding Galleon Gold Corp. announces a non-brokered private placement to issue an unsecured convertible debt financing for gross proceeds of CAD 8,000,000 on August 13, 2025. The Debenture has a term of 36 months from the date of issuance, bears interest at a rate of 10% per annum, payable in cash or common shares of the Company. The Debenture and underlying Common Shares will be subject to a hold period of four months and one day, ending December 14, 2025 in accordance with applicable securities laws. The Transaction is subject to final acceptance of the TSXV. New Risk • Aug 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (CA$41.6m market cap, or US$30.2m). Announcement • Jul 20
Galleon Gold Corp. announced that it has received CAD 7.5 million in funding from 2176423 Ontario Ltd. On July 18, 2025, Galleon Gold Corp. closed the transaction. The company issued 20 convertible debentures for the proceeds of CAD 1,000,000 in its second and final tranche. The company paid finders' fees consisting of a cash commission of CAD 60,000 and 200,000 non-transferrable finders' warrants in connection with this closing of the offering. Each finder warrant entitles the holder to acquire one common share at CAD 0.36 per share over a two (2) year period. Announcement • Jul 02
Galleon Gold Corp. announced that it expects to receive CAD 7 million in funding Galleon Gold Corp announced a non-brokered private placement to issue 140 Unsecured Convertible Debentures at a price of CAD 50,000 per debenture for aggregate gross proceeds of CAD 7,000,000 on July 2, 2025. The Debentures will have a term of 36 months from the date of issuance, bear interest at a rate of 8% per annum payable in cash or Common Shares at the option of the investor at the end of the Term and be convertible into common shares of the Company at a conversion price of CAD 0.30 per share. The company will pay Finder's fees consisting of a 6% cash commission and 6% non-transferrable finders' warrants in connection with the offering. Each finder warrant entitles the holder to acquire one Common Share at a price of CAD 0.36 per share over a two-year period. The transaction is expected to close by July 9, 2025. The Debentures, finders warrants and underlying Common Shares, will be subject to a hold period of four months and one day in accordance with applicable securities laws. The Offering is subject to the acceptance of the TSX Venture Exchange. The transaction will include participation from Eric Sprott and Management. Price Target Changed • Apr 27
Price target increased by 8.1% to CA$4.00 Up from CA$3.70, the current price target is provided by 1 analyst. New target price is 1,533% above last closing price of CA$0.24. Stock is up 23% over the past year. The company posted a net loss per share of CA$0.049 last year. Announcement • Apr 16
Galleon Gold Corp. Commences Site Preparation for West Cache Bulk Sample Project Galleon Gold Corp. announced it has commenced surface site preparations for advanced exploration development at its 100% owned West Cache Gold Project in Timmins, Ontario. The Company announces it has received a Permit to remove Forest Resources. With this permit in hand, the Company has commenced the required timber harvesting operations to prepare the Project site for future development. The majority of the trees harvested will be used on site for construction purposes, with the balance being sold to the lumber industry. The Company awarded the tree harvest contract to Caron Equipment Ltd. of Timmins, Ontario. The company has contracted Knight Piesold Ltd. to complete the Issued for Construction (IFC) drawings for the construction and detailed Requests for Proposal (RFP) for the box cut, pond and water management systems, which are anticipated for release in June 2025. In addition, J.L. Richards and Associates Ltd. has been awarded the contract to complete the final detailed design and RFP for the high voltage and secondary electrical distribution lines for the West Cache Project. Operating permit applications for Environmental Compliance Approval (ECA), which includes air, noise, waste, and industrial sewage, along with the Permit to Take Water (PTTW), which regulates the usage of surface water and the dewatering of underground mine workings, are all in the works and proceeding accordingly. Price Target Changed • Apr 11
Price target decreased by 11% to CA$3.70 Down from CA$4.15, the current price target is provided by 1 analyst. New target price is 1,270% above last closing price of CA$0.27. Stock is up 46% over the past year. The company posted a net loss per share of CA$0.049 last year. Announcement • Mar 24
Galleon Gold Corp., Annual General Meeting, May 27, 2025 Galleon Gold Corp., Annual General Meeting, May 27, 2025. Location: ontario, toronto Canada New Risk • Nov 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$12.7m (US$9.05m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.7m free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (CA$12.7m market cap, or US$9.05m). Minor Risk Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Price Target Changed • Sep 06
Price target increased by 19% to CA$3.50 Up from CA$2.95, the current price target is provided by 1 analyst. New target price is 1,491% above last closing price of CA$0.22. Stock is up 69% over the past year. The company posted a net loss per share of CA$0.02 last year. New Risk • Aug 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$2.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.5m free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (CA$12.4m market cap, or US$8.99m). Minor Risk Shareholders have been diluted in the past year (2.9% increase in shares outstanding). New Risk • Jun 12
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.7m (US$10.00m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (CA$13.7m market cap, or US$10.00m). Minor Risk Shareholders have been diluted in the past year (6.2% increase in shares outstanding). Announcement • Jun 10
Galleon Gold Corp. Announces the Passing of Chief Operating Officer, Timothy G. Smith Galleon Gold Corp. announced the passing of Chief Operating Officer Timothy G. Smith. With over 30 years of experience in the mining industry, he was an invaluable member of the GalleonGold team providing technical leadership and pragmatic guidance since 2021. Having earned a Bachelor of Engineering (Metallurgical) from McGill University, Montreal, Quebec, Mr. Smith's career took him to many large operations throughout North America. He was Vice President - U.S. & Canadian Operations at Apollo Gold where he led the mine start-up and mill expansion of the Black Fox Mine and Stock Mill located outside of Timmins, Ontario (now owned by McEwen Mining). He was also General Manager of the Montana Tunnels polymetallic mine, Montana, Operating Manager at Red Dog Mine in Alaska, Vice President - Operations for Pine Point Mining (now owned byOsisko Metals) and COO of Fire River Gold. Mr. Smith also operated a private consulting firm, Tunnels LLC. Announcement • Apr 30
Galleon Gold Corp. announced that it has received CAD 1.41 million in funding from 2176423 Ontario Ltd. and other investors Galleon Gold Corp. announced a non-brokered private placement of 1,410 debenture units at a price of CAD 1,000 per unit for the gross proceeds of CAD 1,410,000 on April 29, 2024. Each debenture unit consists of CAD 1,000 in principal of convertible debentures and 3,030 common share purchase warrants of the company. Each warrant will be exercisable to acquire one common share of the company for a period of three years from the date of issuance at an exercise price of CAD 0.25 per warrant share. The debentures will bear interest at a rate of 7.5% per annum from the date of issuance until the maturity date and payable semi-annually in arrears and will have a three-year term. Holders shall have the option cause the corporation to redeem the Debentures on the 24-month anniversary of the Debentures by providing written notice to the corporation at least 15 days prior to the 24-month anniversary of the debentures. The company may complete an additional tranche of the Offering up to a maximum aggregate amount of CAD 1.5 million. The Debentures, Warrants and underlying Common Shares, will be subject to a hold period of four months and one day in accordance with applicable securities laws. The offering is subject to the final acceptance of the TSX Venture Exchange. The transaction included participation from returning investor 2176423 Ontario Ltd. Announcement • Mar 23
Galleon Gold Corp., Annual General Meeting, May 28, 2024 Galleon Gold Corp., Annual General Meeting, May 28, 2024. New Risk • Jan 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m. Revenue is less than US$1m. Minor Risks Large one-off items impacting financial results. Large one-off items impacting financial results. Shareholders have been diluted in the past year (6.2% increase in shares outstanding). Shareholders have been diluted in the past year (6.2% increase in shares outstanding). Market cap is less than US$100m (CA$16.3m market cap, or US$12.1m). Announcement • Nov 18
Galleon Gold Corp. Files Notice of Project Status with Ministry of Mines - Moving the West Cache Gold Project to Advanced Stage Exploration Galleon Gold Corp. announced it has commenced the formal process of permitting with the Ontario Ministry of Mines (the "Ministry") for the 100% owned West Cache Gold Project, Timmins, Ontario (the "Project" or "West Cache"). The Company submitted the Notice of Project Status - Form 1 - Mining Act providing notice that the Project is moving from exploration to advanced exploration status. The Notice of Project status is used to report a project is transitioning from exploration status to advanced exploration or mine production project status under subsections 140(1), 141(1) or 144(1) of the Mining Act. By submitting Form 1, Galleon Gold kicks off the formal process of permitting. In addition to filing the Notice of Project Status, the Company has filed the Project Definition and will be providing the Ministry with a copy of the draft Closure Plan. Over the coming weeks the Ministry will assign a team to the file and begin its review of the project. At the same time, the Company will begin its formal public consultation process, which includes meetings and presentations with Indigenous communities, area residents and other stakeholders as they pertain to the West Cache Project. Upon completion of the Ministry's review, the Company will be instructed to submit the Final Closure Plan, subject to any required changes. Closure Plan. The Closure Plan is one of the key permit deliverables that must be approved by the Ontario Ministry of Mines before advanced exploration can commence. The document includes a complete project description, baseline characterization studies, rehabilitation and reclamation plans, and site monitoring programs to be implemented after closure. Additional Permits. The Company is in the final stages of compiling permit application for Environmental Compliance Approvals (ECA), which includes air, noise, waste, and industrial sewage. Various construction permits for the development of site infrastructure are in-process along with the Permit to Take Water (PTTW), which regulates the usage of surface water and dewatering of underground mine workings. As the Company receives these additional permits it can begin preparations for surface infrastructure, such as earthworks, road building, and pad construction in advance of underground development for the bulk sample. Bulk Sample Details and Figures. Mineralization is open in all directions and at depth. New Risk • Nov 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (CA$7.30m market cap, or US$5.34m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (17% increase in shares outstanding). Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Independent Director Dick Nanna was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 17
Galleon Gold Corp. (TSXV:GGO) completed the acquisition of remaining 20% stake in Neal Idaho Gold Project from 2176423 Ontario Ltd. Galleon Gold Corp. (TSXV:GGO) entered into an agreement to acquire remaining 20% stake in Neal Idaho Gold Project from 2176423 Ontario Ltd. for $0.32 million on May 31, 2023. As a consideration, Galleon Gold will issue 2 million common shares. Upon closing of the transaction, the Company will hold a 100% leasehold interest in the Project and Eric Sprott's ownership of Galleon Gold will increase to 21.45%. The transaction is subject to final approval from the TSX Venture Exchange and the Shares are subject to a hold period of four months and a day under applicable Canadian securities laws.
Galleon Gold Corp. (TSXV:GGO) completed the acquisition of remaining 20% stake in Neal Idaho Gold Project from 2176423 Ontario Ltd. on June 15, 2023. Galleon Gold now holds a 100% leasehold interest in the Project. Eric Sprott's ownership of GalleonGold is now
21.45%. Announcement • Dec 15
Galleon Gold Corp. announced that it expects to receive CAD 3 million in funding Galleon Gold Corp. announced a non-brokered private placement of units and flow-through units up to a maximum aggregate amount of CAD 3 million on December 14, 2022. The transaction included participation of certain directors and officers of the company subscribing for an aggregate of 500,000 Units and 50,000 flow-through units under the offering on the same terms as arm's length investors. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant and each flow-through unit consists of one common share of the company and one-half of one warrant. Each warrant entitles the holder to acquire an additional common share at a price of CAD 0.45 for a period of 24 months expiring on December 14, 2024. Finders in connection with the offering received an aggregate cash commission of CAD 90,952 and 350,199 non-transferable compensation warrants. Each finder warrant entitles the holder to acquire one common share at an exercise price of CAD 0.24 for a period of two years expiring on December 14, 2024. The securities comprising the units and flow-through units and any finders warrants issued with respect to the offering, will be subject to a hold period of four months and one day in accordance with applicable securities laws. The Offering is subject to the final acceptance of the TSX Venture Exchange. On the same date, the company issued 583,334 units at an issue price of CAD 0.24 for gross proceeds of CAD 140,000.16 and 6,495,620 flow-through units at an issue price of CAD 0.26 per unit for gross proceeds of CAD 1,688,861.2 in its first tranche for gross proceeds of CAD 1,828,861. Announcement • Nov 30
Galleon Gold Corp. Reports Positive Progress of Permitting Activities at its 100% Owned West Cache Gold Project in Timmins, Ontario Galleon Gold Corp. reported positive progress of permitting activities at its 100% owned West Cache Gold Project in Timmins, Ontario. Detailed Design Update: The proposed West Cache Advanced Exploration Program, includes: the development of a ramp and portal to access the Zone #9 deposit, collection of a bulk sample and exploration drilling at depth. The Company reported progress on the following initiatives: Design of Raise, Portal and Decline - Detailed engineering for the main ramp, vent raise, cut-outs for muck bays as well as diamond drill stations has been completed. The mine plan has been developed for single panel transverse longhole open stoping based on a two-production level and four stope plan. The bulk sample is estimated at 86,500 tonnes of ore @ 8.13 g/t for 22,600 ounces of gold. Crown Pillar Assessment - A geomechanical core drill hole program has been completed under the supervision of Knight Piesold (9 holes for approximately 900m). The information gathered in this drill program is being used to complete the crown pillar stability report and ground control support plan for the excavation work for the box cut and portal. Design of Mine Service Infrastructure /Site Plan -The Site Plan has been designed to include administrative buildings (core shack, assay lab, mine dry /rescue buildings and a mechanic shop) along with surface stockpile areas (both ore and waste), haul roads and explosive magazines and ponds. A geotechnical overburden drill program will commence in early December over the planned infrastructure areas, approximately 22 geotechnical overburden holes will test the overburden/soil profile up to and including the first few meters of bedrock. In addition, approximately 20 geotechnical test pits will be dug with an excavator in order to reveal the near surface soil conditions across the site. Test pits are a relatively low-cost solution to gather subsurface conditions for siting shallow foundations, the test pits are backfilled upon completion to return the ground to pre-existing conditions. Hydrogeology Assessment & Power Grid Evaluation - The hydrogeology assessment has been completed including the water balance assessment and pump sizing. This information is currently being used in the electrical layout and power grid connection evaluation which will establish the peak site electrical load, horsepower ratings for the larger motors, and then develop a preliminary high and medium voltage power distribution system single line drawing for the site. A System Impact Assessment (SIA) application will then be compiled and submitted to the IESO (Independent Electricity System Operator) and Hydro One Networks for review and analysis. The Company will continue to provide updates on the permitting progress, dates for public consultations and timing for the submission of the Closure Plan document to the regulatory authorities. Price Target Changed • Nov 16
Price target decreased to CA$3.35 Down from CA$4.00, the current price target is provided by 1 analyst. New target price is 1,761% above last closing price of CA$0.18. Stock is down 70% over the past year. The company posted a net loss per share of CA$0.0074 last year. Announcement • Sep 20
Galleon Gold Initiates Geotechnical Drilling Program At West Cache Project in the Timmins Gold Camp Galleon Gold Corp. reports that it has initiated geotechnical drilling in support of permitting initiatives for a planned underground bulk sampling program at its 100% owned West Cache Gold Project ("West Cache" or the "Project") in Timmins, Ontario. The Company has identified Zone #9 as the initial target for test mining and will utilize the current layout as outlined in its PEA (published in February 2022), while optimizing the development design as needed. Detailed engineering for the proposed portal and decline, will require the completion of eight geotechnical holes. Knight Piesold has been contracted to oversee the geotechnical program. In total, approximately 1,000 meters of core will be drilled: including, three drill holes in the portal and box cut area, three drill holes along the decline, one deeper hole into the Zone #9 bulk sample stopes, and one shallow hole through the planned vent raise. In order to gather the best rock quality designation data ("RQD"), the drilling will utilize triple tubing and oriented HQ3 coring. Detailed geotechnical logging and strength testing will be completed to quantify engineering characteristics of rock units to be encountered during development. Collected data will be used to define rock mass quality and structural domains for the development areas and provide input for the detailed design of the bulk sample, including: 1) box cut and portal design, 2) ground support recommendations, 3) stope size and dilution estimation, and 4) rock mechanics design and optimal mining methods. Following completion of geotechnical logging, the Company will internally process the core and sample any mineralized intervals. Oriented structural measurements and detailed lithology will be incorporated into the drill hole database to assist with modelling and exploration planning. Announcement • Sep 08
Galleon Gold Corp. Reports Initial Drill Results from Its 2022 Drill Program At Its West Cache Gold Project Galleon Gold Corp. reported initial drill results from its 2022 drill program at its 100% owned West Cache Gold Project (West Cache or the Project) in Timmins, Ontario. Highlights from WC-22-215 - South Area Intercepts: 13.29 g/t Au over 4.5 m (from 260.5 to 265.0 m); Including 79.2 g/t Au over 0.7 m; 5.23 g/t Au over 5.7 m (from 290.0 to 295.7 m); Including 13.68 g/t Au over 1.7 m; Both high grade zones were encountered within a broad interval of gold mineralization averaging 2.85 g/t Au over 35.2 m; Overall, Hole 215 intercepts correlate with broad and selective gold zones down-dip in holes WC-20-77 and 78 to provide over 100 meters of dip continuity; Significant dip extensions could be added with intercepts in WC-22-218 (assays pending) and contemplated up-dip drilling in the near future. Discussion and Results: Hole WC-22-215 was collared to intersect South Area mineralized zones within a gap between near-surface (2.53 g/t Au | 9.0 m, including 7.96 g/t Au | 2.03 m in WC-21-192) and deeper intercepts (2.63 g/t| 7.5 m, including 6.95 g/t Au | 2.0 m in WC-20-077) drilled during the 2020-2021 program. Provides a cross sectional view of the intercepts, where drilling continues to define higher zones within a broad mineralized envelope of gold mineralization. Some of these better grades and widths are within fine grained to locally porphyritic felsic metavolcanics, where the more cohesive "hole 215 footwall zone" remains 12 to 15 meters from a major contact with interbedded coarse to very fine-grained metasediments. Importantly, the higher grade 215 footwall shoot is located only 300-meters south of high-grade Zone #9. The southern felsic metavolcanic unit as identified in 2020 drilling, contains two dominant mineralized horizons, one at the upper contact with metasediments and a second lower horizon highlighted by the assays released in this press release. Additional mineralized zones are developing in the metasediment units to the south of the metavolcanic unit. Detailed structural and stratigraphic logging of historic and new core is ongoing to determine the geometry of the south zones and controls on mineralization related to the felsic metavolcanic unit. The Company will continue to release assay data as it is received and compiled. Logging and sampling of recently completed hole WC-22-218 is currently underway. Hole 218 was designed to provide deeper geologic definition, while also attempting to extend mineralized zones encountered in the up-dip drilling. Downhole survey results suggest any mineralization identified in hole 218 will have the potential to extend known gold zones by approximately 90-100 meters; thereby doubling their known dip extent. Comments on all South Area Drillhole Intercepts: All WC drillholes are south directed angle holes with initial collar inclinations of -48 to -52 degrees from horizontal. Most intercepts are near-perpendicular to the mineralized zone such that the drilled intercepts typically range between 71-97% of the true thickness of the interval with an overall average of 88%. As noted, interval true thickness determinations combine mineral lineation measured by the core logger and are checked against cross sectional models of the mineral zones. Drillhole information in this new release is based on 100% core drilling using NQ sized equipment. Announcement • Aug 17
Galleon Gold Corp. Provides Update on Permitting for Underground Bulk Sample At West Cache Gold Project Galleon Gold Corp. reported on the progress of permitting activities at its 100% owned West Cache Gold Project ("West Cache" or the "Project") in Timmins, Ontario. Detail Engineering Design: The proposed West Cache Advanced Exploration Program, includes: 1) the development of a ramp and portal to access the Zone 9 deposit, 2) collection of a bulk sample (up to 100,000 tonnes) and 3) exploration drilling at depth. The Company reported that it has awarded the contract for the Detailed Engineering Design to Nordmin Engineering Ltd., and work will begin immediately. Design of Raise and Portal - Design of the proposed ramp and raise along with an excavation layout. The portal will be designed to incorporate required services such as ventilation, drill water, compressed air, power and communications with a stable face and overhead protection to the entry as needed. This work will provide a basis for tendering the mining work and a closure cost estimate/recovery plan per Ontario Reg 240/00. Crown Pillar Assessment - A geomechanical and ground control specialist will complete a crown pillar stability report, ground control support plan for the excavation work and recommendations for underground construction excavation approaches. Design of Mine Service Infrastructure - This work will focus on power, dewatering, mine air heating and mine ventilation services - all in support of the proposed mining effort. The design will be carried through to equipment specification and information, including costs and delivery schedules currently under consideration for the project. Geotechnical studies will be conducted on any planned infrastructure areas. Design of Surface and Ancillary Infrastructure - Design of the surface stockpiles (both ore and waste) haul roads, underground shop and offices, fuel storage, and explosives magazines. Detailed Development Plan and Schedule - The proposed underground working design by P&E Consultants (Preliminary Economic Assessment published February 23, 2022) will be refined as needed to develop a detailed layout for the ramp and its headings. The Deswik scheduling tool will be utilized to establish the development plan, schedule and working requirements. Baseline Studies: The Company commenced baseline studies in 2020 and engaged Story Environmental in collaboration with Blue Heron to manage the programs and data collection required for the Advanced Exploration permit application. A baseline water sampling program was initiated and several years of data has now been collected; in addition, groundwater and hydrogeology monitoring sites were established early and data has been documented accordingly. Aquatic and terrestrial programs have been completed during each season and the archeological assessment is complete. Announcement • Jul 08
Galleon Gold Completes Fourth Hole of 2022 Drill Program At West Cache Gold Project Galleon Gold Corp. announced visual observations from the fourth diamond drill hole of the 2022 drill program at the West Cache Gold Project in Timmins, Ontario. The fourth hole was collared to intersect the South Area zones within a gap between near-surface (2.53 g/t Au | 9.0 m, including 7.96 g/t Au | 2.03 m in WC-21-192) and deeper intercepts (2.63 g/t | 7.5 m, including 6.95 g/t Au | 2.0 m in WC-20-077) drilled during the 2020-2021 program. The objective of the ongoing 2022 South Area drilling is to determine potential shoot geometry within the 300-meter strike length of the drill-tested area, which is approximately 350-meters due south of high-grade Zone #9. Hole WC-22-215 was drilled to a total depth of 465 meters Multiple sulphide zones were encountered throughout the hole, which may prove continuity within the 120-meter untested gap in South Area drilling A massive sulphide intercept was encountered from 261.5 m to 262 m with over 30% combined pyrite, sphalerite, and chalcopyrite The fifth hole of the program is currently underway and core logging and sampling remains ongoing. Announcement • Jun 29
Galleon Gold Completes First Two Drill Holes of 2022 Drill Program At West Cache Gold Project Galleon Gold Corp. to report the first two diamond drill holes of the 2022 drill program have been completed at the West Cache Gold Project in Timmins, Ontario. The initial two holes of the drill program were collared to intersect the South Area zones along strike to the west within 90 meters of untested ground from intersections encountered in the 2020/21 drill program. The objective of the first two holes was to intersect mineralized horizons at approximately the same elevation as in discovery holes WC-20-077 and WC-20-078 to identify a plunge or potential shoot within the South Area. Core logging and sampling has been completed and assays are pending. The fourth hole of the program is currently underway and core logging and sampling remains ongoing. An advantage of a summer drill program, located just 13 km west of Timmins, is that a "10 days on 4 days off" drill schedule can be utilized. This schedule should allow for assays from the initial holes to be returned in a timelier manner to assist with drill planning. Announcement • Jun 02
Leeuwin Metals PTYLtd. acquired William Lake Property Located in Manitoba, Canada from Galleon Gold Corp. (TSXV:GGO) Leeuwin Metals PTYLtd. acquired William Lake Property Located in Manitoba, Canada from Galleon Gold Corp. (TSXV:GGO) on June 1, 2022. Leeuwin Metals paid CAD 1 million in cash, 2.5 million in common shares and 2.5 million options with each option entitling the Galleon Gold to acquire one share of Leeuwin.
Leeuwin Metals PTYLtd. completed the acquisition of William Lake Property Located in Manitoba, Canada from Galleon Gold Corp. (TSXV:GGO) on June 1, 2022. Announcement • May 28
Galleon Gold Corp. Commences Drill Program At the West Cache Gold Project Galleon Gold Corp. reported the 2022 exploration drill program at its 100% owned West Cache Gold Project ("West Cache" or the "Project") in Timmins, Ontario has commenced with set up for the first drill hole underway. The initial 5,000-meter drill program will focus on high-priority drill targets identified during the Company's drill program in 2020-2021. Figure 1 shows the target areas in the sediment dominant stratigraphy near Zone #9 and the South Area, while Figure 2 provides a closer look at some of the significant Zone #9 and South Zone intercepts as they relate to this phase of drilling. In February 2022, the Company released an updated mineral resource estimate and a preliminary Economic Assessment Technical Report (PEA). The Underground Mineral Resource at a 1.6 g/t Au cut off grade reported an Indicated Mineral Resource of 472,000 ounces (4,051 kt at an average grade of 3.63 g/t Au) and Inferred Mineral Resource of 1,088,000 ounces (11,788 kt at an average grade of 2.87 g/t Au). The Company's maiden PEA provided the first economic valuation for West Cache. The results demonstrate that the project could support a profitable underground mining operation; including Pre-Tax Net Present Value at a 5% discount rate ("NPV5%") of $378 million with Internal Rate of Return ("IRR")of 33.7%; 3.0 year payback at US$1,700/oz gold price. Importantly, the project is highly leveraged to the gold price as outlined in the Table 1 below. The Property is situated in the Western Porcupine Gold Camp along the Destor-Porcupine Fault Zone ("DPFZ") within the Abitibi greenstone belt. The Property is predominantly underlain by Archean rocks of the Tisdale and Deloro Assemblages (metavolcanics), Porcupine Assemblage (metasediments) and quartz feldspar porphyry of the Porcupine Intrusive Suite. Paleoproterozoic diabase dikes trend north- south to northwest-southeast across the Property. The main break of the DPFZ trends east-west through the eastern part of the Property and is offset to the south in the western portion of the Property by the Mattagami River Fault. Gold mineralization is characterized by roughly east-west trending "shear" zones, dipping 60° to 80° to the north, and is associated with pyrite, chalcopyrite and sphalerite. To-date, the quartz feldspar porphyry unit and associated contacts with the metasedimentary units have been the focus of exploration activities. In addition, large areas of Tisdale and Deloro metavolcanics have yet to be explored, including the Rusk contact zone, which is associated with gold mineralization at the Timmins West Complex, approximately 7 km southwest of the Property. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Dick Nanna was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 27
Galleon Gold Corp. Provides an Exploration Update for Its 100% Owned West Cache Gold Project in Timmins, Ontario Galleon Gold Corp. provided an exploration update for its 100% owned West Cache Gold Project in Timmins, Ontario. Following the release of the Project's updated Mineral Resource Estimate and maiden Preliminary Economic Assessment ("PEA") in early 2022, the company is planning its exploration and permitting programs for the upcoming field season. Drill-Rig Contracted: The company intends to follow-up on high-priority drill targets at West Cache identified during the Company's 46,380-meter drill program in 2020-2021, beginning with higher-grade targets in THE metasediment units near Zone #9 and the South Area. An initial 5,000-meter program will commence in May 2022 with additional drilling to be planned based on the results from this first phase of drilling. The company has contracted NPLH Drilling of Timmins, Ontario. NPLH has extensive experience at West Cache, having completed over 75% of the 210,000 meters of core drilling on the Property since 2009. Permitting and Baseline Activity for Zone #9 Test Mining: Ongoing permitting and baseline studies in support of a bulk sample will continue through 2022. The company intends to submit permit applications for approximately 100,000 tonnes of Zone #9 material to be extracted from four levels within 200 meters of the surface. A portion of the overall 2022 budget will be reserved for geotechnical and condemnation drilling in support of the Zone #9 bulk sample ramp design work. A Metal Leaching and Acid Rock Drainage ("MLARD") geochemical study has been initiated on representative rock samples from the planned bulk sample ramp area and ore characterization test work on high grade samples from Zone #9 has begun. Announcement • Apr 16
Galleon Gold Corp., Annual General Meeting, Jun 21, 2022 Galleon Gold Corp., Annual General Meeting, Jun 21, 2022. Board Change • Mar 22
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Dick Nanna was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 23
Galleon Gold Corp. Provides the Following Corporate and Project Update on Its West Cache Gold Project , Timmins Ontario Galleon Gold Corp. provided the following corporate and project update on its West Cache Gold Project, Timmins Ontario. The Company is very pleased to report that the survey plan for converting the West Cache Gold Project mining claims to land lease status has been approved by the Ministry of Northern Development and Mines and is being submitted to the Land Registry Office for filing. This is an important step in the advancement of the Project. A Lease grants its owner title and ownership to the land and permits the extracting and sale of extracted resources. The Company can now proceed with applications for permits to commence a bulk sample and plan for mine development, including infrastructure development, ramp construction and ore extraction. The Lease expires every 21 years unless it is renewed. Figure 1 provides an overview of the Lease and the Project's location in relation to other mines in the Timmins camp. The Company completed its 46,300-meter drill program at the West Cache Gold Project mid-2021 and has since been working toward the Project's first Preliminary Economic Assessment. Figure 2 provides a Plan Map indicating the area of drill-defined mineralization and location of drill holes on the Property. Some of the 2021 drilling highlights include: Effectively infilled the known mineralization in the East and West Pit areas Traced the near surface expression of Zone #9 mineralization from the bedrock interface to over 325 meters in vertical depth WC-20-080 intersected 8.25 g/t Au over 9.0 m from 190 to 199 m WC-20-081 intersected 8.68 g/t Au over 10.0 m from 276 to 286 m WC-20-082 intersected 9.40 g/t Au over 10.0 m from 310 to 320 m WC-20-097 intersected 7.66 g/t Au over 10.0 m from 224 to 234 m WC-21-115 intersected 11.25 g/t Au over 6.0 m from 75 to 81 m Extended the eastern flank of the East Pit mineralization an additional 350 meters along strike Discovered the South Area with multiple gold zones - highlighting the immense potential for the southern area of the property which has not been drill tested. A comprehensive metallurgical study on Zone #9 mineralized material yielded outstanding results. All three processing paths indicate strong gold extractions can be achieved on each of the low, mid and high grade portions of the recently identified Zone #9 gold mineralization. Highlights from this work, include: Whole Ore Leach: Gold Extraction ranging from 83% to 97% - depending on grind size and composite feed grade Gravity - Whole Ore Leach: Gold Extraction of 95% to 97% Gravity - Flotation - Concentrate Leach: Gold Extraction of up to 97%. The Company published a NI 43-101 Technical Report for the West Cache Gold Project on October 22, 2021. The updated mineral resource estimate increased the historical resource by 20% . The Company expects the resource to grow with additional data included in new modelling for the PEA study that is currently being finalized. Announcement • Sep 09
Galleon Gold Corp. Updates Mineral Resource Estimate for the West Cache Project, Timmins, Ontario Galleon Gold Corp. announced the release of a National Instrument 43-101 updated Mineral Resource Estimate for its 100% owned West Cache Gold Project, Timmins, Ontario. Highlights include: Indicated Mineral Resource of 657,000 ounces (13.4 Mt at an average grade of 1.52 g/t Au); Inferred Mineral Resource of 640,000 ounces (11.7 Mt at an average grade of 1.71 g/t Au); The Mineral Resource Estimate utilizes optimized pit shells to constrain near surface Mineral Resources, as well as underground (out-of-pit) potentially mineable shapes to constrain the Mineral Resource Estimate for the deeper portion of the West Cache Deposit; The Mineral Resource Estimate utilizes USD 1,650/oz gold price at a gold recovery of 95%; and The Mineral Resource Estimate will form the basis for the Company's Preliminary Economic Assessment ("PEA") currently underway. The Mineral Resource Estimate was based on the results of 557 holes and 210,000 metres of drilling, including 213 holes for 46,380 metres of surface diamond drilling completed since the company acquired the Project. Zone #9, newly discovered in 2020, has contributed to the Out-of-Pit Indicated Mineral Resource Estimate of 244,000 ounces based on 1.8 Mt at an average grade of 4.16 g/t Au and an Inferred Mineral Resource of 359,000 ounces based on 4.1 Mt at an average grade of 2.71 g/t Au. The combined East and West Pits contain 413,000 Indicated Au ounces and 281,000 Inferred Au ounces. Announcement • Aug 26
Noble Mineral Exploration Inc. (TSXV:NOB) and 11530313 Canada Inc. entered into an agreement to acquire Non-Core Ontario Properties from Galleon Gold Corp. (TSXV:GGO) for CAD 0.42 million. Noble Mineral Exploration Inc. (TSXV:NOB) and 11530313 Canada Inc. entered into an agreement to acquire Non-Core Ontario Properties from Galleon Gold Corp. (TSXV:GGO) for CAD 0.42 million on August 24, 2021. As a part of consideration, 11530313 paid CAD 0.25 million and Noble will issue to the Company 2 million common shares of Noble, to each obtain a 50% ownership of the Properties. The transaction is subject to the approval of the TSX Venture Exchange and subject to approval of the Board of Directors of Noble Mineral Exploration. The sale of the properties is expected to be completed by mid-September 2021. Announcement • Aug 12
Galleon Gold Corp. Announces Strong Gold Recoveries in Recent Metallurgical Studies for West Cache Project Galleon Gold Corp. announced very favourable results from ongoing metallurgical test work (the "Study") performed on three composited core-based bulk samples from Zone #9 at its 100% owned West Cache Gold Project, Timmins, Ontario. Three primary processing options for gold recovery have been studied at the SGS Lakefield, Ontario facility: 1) Gravity - Flotation, 2) Whole Ore, and 3) Gravity - Whole Ore. Results from all three processing paths indicate strong gold extractions can be achieved on each of the low (1.77 g/t), mid (5.10 g/t) and high (21.9 g/t) grade portions of the recently identified Zone #9 gold mineralization. Highlights from this work, include: Whole Ore Leach: Gold Extraction ranging from 83% to 97% - depending on grind size and composite feed grade. Gravity - Whole Ore Leach: Gold Extraction of 95% to 97%. Gravity - Flotation - Concentrate Leach: Gold Extraction of up to 97%. Extraction- all references to gold recoveries here are based on gold "extraction" studies. Minor inefficiencies in the overall recovery process from leach solutions will result in small gold losses - this separates gold extraction from gold recovery. These losses can be estimated once all test work has been completed. Whole Ore Leach Results: Whole ore leach, the simplest processing option, follows the crushing, grinding, leaching and recovery of the dissolved gold flowsheet. The following test results show that over 90% of the gold can be extracted in simple tank leach of the whole ore, while remaining insensitive to the gold grades being evaluated. The Whole Ore Leach process, includes: 1) initial whole ore crushing and grinding, and 2) bottle roll leach using best grind size, standard reagent conditions, and retention time. Significant considerations in using the Whole Ore Leach Method, include: Strong overall gold recovery using a simple process. No gravity circuit needed, thus mitigating an area vulnerable to gold loss. Modest reagent consumption overall. Minimal processing equipment requirement. Gravity Discussion: West Cache Zone #9 mineralization responds well to conventional gravity separation. SGS gravity test work procedures utilized 119 to 60 micron grind sizes passed through and concentrated in a Knelson concentrator prior to being upgraded using a Mozley Separator. The Mozley gravity concentrate was then submitted for gold assay where it was assayed to extinction, while the tailings were combined. Significant considerations for using a gravity recovery step in the process plant, include: Gravity recovery was efficient with all 3 composites producing concentrates assaying over 50 oz/t gold. A significant proportion of fine free gold can be recovered, with the finest gold recovered by leaching. Leaching of the gravity tails responds well to fine grinding at 60 microns or less to achieve plus 90% recoveries. Work to date suggests increased overall gold recoveries when using gravity in the process stream. Gravity - Whole Ore Leach Results: The Gravity - Whole Ore Leach process, includes: 1) optimized initial whole ore crush and grind, 2) gravity recovery producing a fine native gold concentrate, 3) separately process the gravity concentrate and tails, 4) bottle roll leach of gravity tails using moderately fine grind size, standard reagent conditions, and 48-hour retention time. Significant considerations in using the Whole Ore Method, include: Excellent overall gold recoveries using relatively simple processing options. No flotation step required. Gravity - Flotation Concentrate Leach Results: The Gravity-Flotation Concentrate Leach process, includes: 1) initial whole ore crush and grind, 2) gravity recovery producing a fine native gold concentrate, 3) process the gravity concentrates 4) flotation on the gravity tails to produce a gold-sulphide concentrate, 5) leaching of flotation concentrate following a fine grind optimized to maximize gold extraction. The test results indicate a very efficient recovery of gold from the concentrate so no leaching or treatment of the flotation tails is required. Significant considerations in using the Gravity Flotation Concentrate Leach Flowsheet, include: Very high overall extraction and recovery of gold at 96-97%; Comparable strong extraction of all three grade ranges that can be optimized with a finer grind on less material (flotation concentrate -vs- whole ore); High recovery path results in final flotation tails that are very low in gold and clean of sulphides; The flotation concentrate is about 25% of the original rock mass (25% mass pull into concentrate); this reduced amount results in a smaller leach circuit. Advantages produced by treatment and disposal of smaller volume of sulfide-rich material; Potential for further test work to confirm the optimum cleaner Au-sulfide concentrate and optimized reagent scheme. Announcement • Jul 23
Galleon Gold Corp. Announces Final Assay Results from the 2021 East Pit Extension Drill Program at its 100% Owned West Cache Gold Project, Timmins, Ontario Galleon Gold Corp. (the ‘Company’ or ‘Galleon Gold’) announced final assay results from the 2021 East Pit extension drill program at the Company's 100% owned West Cache Gold Project, Timmins, Ontario. With all assays now complete for this area, results continue to confirm the easterly extension of multiple gold zones. This information can now be included in the PEA resource model. Final East Pit Area Extension Drilling Summary: Eastward Extension of East Pit - additional 350 meters of mineralization added on strike; East Pit gold system remains open to the east; Potential to add incremental gold resources to the PEA (currently underway); Multiple near surface intercepts with significant gold grades, including: WC-21-195 with 4.5 m at 1.17 g/t (147 to 151.5m); WC-21-203 with 2.0 m at 3.61 g/t (44 to 46m) and 5.5 m at 1.13 g/t (117.5 to 123 m); WC-21-205 with 4.0 m at 2.32 g/t (53 to 57 m) and 5.5 m at 1.51 g/t (116 to 121.5 m); WC-21-208 with 6.0 m at 1.75 g/t (45.5 to 51.5 m); and WC-21-209 with 4.45 m at 1.23 g/t (36.05 to 40.5 m); and Drilling confirms up-dip projection of historic deeper drilling. East Pit ‘Extension’ geology is similar to much of the East Pit area as it represents an eastward extension of the same rock types, structures, and sulfide zones. Some of the more significant of these geologic features, include: Multiple gold zones - some on strike with previously drilled mineralization in the East Pit (to the west) - others that represent up-dip near surface extensions from deeper historic drilling; A lithology largely dominated by volcanic and intrusive rocks that characterize the Bristol Stock area; much of this sequence has historically been labeled a ‘quartz feldspar porphyry’; Minor sediment-dominated units composed of interbedded wackes and argillite host rocks; Simple gold zone sulfide mineralogy consisting of multi-textured pyrite that can occur as bedded bands to remobilized streaks and lenses; minor chalcopyrite is present locally, which is often associated with higher grade intercepts; Distinctive ‘bleached’ zones of altered volcanics and intrusives with variable fine to coarse grained white mica (sericitic) and/or secondary feldspar associated with mineralized areas; some quartz veining and silicification may be present locally; and Green to grey intervals dominated by a chlorite-carbonate alteration style can also be associated with significant gold zones. Announcement • Jul 15
Galleon Gold Announces New Discovery At West Cache Galleon Gold Corp. announced the discovery of a new mineralized area with multiple gold zones at its 100% owned West Cache Gold Project, Timmins, Ontario. South Area Discovery - multiple gold zones with significant grades and widths Located in previously undrilled area 50-250 meters south of Zone #9 Higher grade intercepts, include: WC-21-198 with 2.0 m at 14.54 g/t Au - WC-21-192 with 2.0 m at 7.96 g/t Au - WC-21-188 with 1.5 m at 8.90 g/t Au. Significant thicker intervals, include: WC-20-077 with 41.5 m at 1.03 g/t Au - WC-21-162 with 10.0 m at 1.28 g/t Au - WC-21-192 with 9.0 m of 2.53 g/t Au. Mineralization remains open along strike and down dip Portions of the South Area display mineralogic profiles that are similar to the Zone #9 and the West Deep area just to the north South Area geology, including mineralogy, structure, and host rock characteristics, suggests similar potential for future discovery of new zones even further to the south in unexplored terrain. South Zone Discovery Holes: Definition drilling in near-surface portions of the Zone #9 area in late 2020, provided strategic locations to extend 3 core holes into a previously undrilled area to the south. All three drillholes - WC-21-075, 077 and 078 - intersected multiple sulfide zones with significant gold grades. Once Zone #9 drilling was completed, the Company grid-drilled a select area with an additional 20 holes to provide initial definition of the newly discovered "South Area". Results from this dedicated South Area program have initially defined portions of 11 new gold zones over a vertical range of approximately 300 meters. Geologic Summary: South Area geologic characteristics that are similar to other mineralized areas discovered to date at West Cache, include: A bedded overall geometry to the sulfide bodies that conforms to the sediment-dominant greywacke and argillite host rocks (grey); Areas of undifferentiated volcanic/intrusive units (pink) with mineralized margins are prominent and display similar composition and textures to the East Pit Area; cross sectional view Multiple styles of pyrite mineralization provide the best direct correlation to gold grade, while distinctive zones of highly visual sphalerite plus lesser chalcopyrite and galena also are significant indicators of important gold mineralization; to date only the South Area and Zone #9/West Deep have this distinctive mix of sulfides; A post-mineral diabase dike system with the typical NNW orientation is present, although mapped with only limited drilling to date; Figures 2 and 3 The South Area also has geologic characteristics that are somewhat different than known gold zones to the north, including: Increased shear texture that appears to be mostly post-mineral, but may have re-mobilized some of the sulfides into stringers locally; Late shearing and brittle faulting producing localized gouge and fracture zones Increased pyrrhotite and possibly galena in the sulfide zones The location and style of sulfide mineralization in the South Area may indicate a direct link to the Zone #9 area - this could suggest similar target potential in unexplored terrain to the south. The overview map shows a plan view covering most of the recent and historic drilling, along with the more significant current resource target areas. Figure 2 is a generalized geologic plan map focused on the South Zone, but includes the southern portion of Zone #9. In cross section, some of the more prominent mineralized zones can be seen in this view looking due east. A close-up of various sulfide textures and corresponding grades. Includes a select summary of South Area gold intercepts. Qualified Person: The technical content of this release has been reviewed and approved by West Cache Gold Project Manager Leah Page, P. Geo. (APGNS #217), a "Qualified Person" as defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects. Quality Assurance (QA) /Quality Control (QC). Quality Control and Assurance procedures and protocols are executed to ensure sampling and analysis of all exploration work is conducted in accordance with best practices. Core produced at the West Cache property is delivered to the Company's Timmins logging facility by the drill contractor with all logging, cutting, labeling, and bagging completed under supervision of Qualified Geologists. NQ sized core is predominantly sawn in half with one half of the core prepared for shipment, while the other half is retained for future assay verification. Core samples are transported from the Company's Timmins logging facility to AGAT Laboratories (sample preparation facility in Timmins) by AGAT personnel. Analysis is completed at AGAT Laboratories in Mississauga, Ontario. Commercially prepared certified reference material (CRM) standards and blanks are inserted every 10 samples. Additionally, samples are selected at a frequency of one for every 10 samples for duplicate analysis of pulp and coarse reject material. All samples reported have been checked against Company and Lab standards, duplicates, and blanks. Announcement • Jun 03
Galleon Gold Corp.'s Initial Metallurgical Studies Show High Gold Recovery for West Cache Gold Project Galleon Gold Corp. announced positive results from the initial metallurgical test work performed on samples from Zone #9 at its 100% owned West Cache Gold Project, Timmins, Ontario. Head Grade Analysis: The Study was conducted on three nominal 50 kg composites that were selected from 1 meter sample intervals from four HQ-sized drill holes. Each of the composites were designed to test gold recoveries over a representative range of grades, mineralogic variation and sample location. All results used a standard cyanide bottle roll technique with carefully maintained concentrations and pH. Head grade analysis is reported as: Low Grade Composite 1.77 g/t Au; Mid-Grade Composite 5.10 g/t Au; High Grade Composite 21.9 g/t Au. Multi element analysis based on XRF analysis indicates minimal arsenic (As) levels with As % measured at 0.002, 0.005 and 0.007 on the low, mid and high grade composites respectively. Whole Ore Cyanidation-Whole ore cyanide leach testing using three grind sizes was conducted for each of the three composite samples. Results show that recoveries increased with finer grinds and that 24-30 hour retention time was optimal for recoveries. Interestingly, slightly higher recoveries were achieved on the highest grade test material. Announcement • May 28
Galleon Gold Corp. Announce Additional Zone #9 Intercepts from Its 100% Owned West Cache Gold Project, Timmins, Ontario Galleon Gold Corp. announce additional Zone #9 intercepts from its 100% owned West Cache Gold Project, Timmins, Ontario. WC-21-148 intersected 2.78 g/t Au over 5.0 m (76 to 81 m), including 9.29 g/t Au over 1.0 m (80 to 81 m); true thickness of these intervals is estimated at 91% of the reported intercept length WC-21-184 intersected 3.70 g/t Au over 5.0 m (100 to 105 m), including 5.85 g/t Au over 3.0 m (102 to 105 m); true thickness of these intervals is estimated at 99% of the reported intercept length Hole WC-21-148 tested the western edge of the Zone #9 shoot at a depth of 60 m below surface. These results extend the near surface expression of Zone #9 to a total of over 235 meters. Hole WC-21-184 provides further confirmation and continuity of the near surface mineralization in Zone #9. The intercept is located 17 meters down dip from hole WC-21-115 which returned 11.25 g/t Au over 6.0 m, including 15.84 g/t Au over 4.0 m. Hole WC-21-190 was designed to test the grade and continuity of Zone #9 between holes WC-20-082 and hole WC- 20-101 (1.45 g/t Au over 2.0 m). Hole WC-21-190, one of the deeper holes through Zone #9, deviated east and shallowed more than anticipated during drilling. As a result, the hole intersected the zone 13 m downdip of hole 82. Interestingly, a lower grade footwall zone of 1.59 g/t Au over 4.5 m was encountered in the hole 10 meters below the primary Zone #9 intercept. This same lower grade footwall zone was also present in hole 82 and can also be seen in some of the older core holes. Results from Hole WC-20-101 suggests some tapering of mineralization on section as the shoot plunges in a northwesterly direction. Future underground drilling on close spaced centers at these depths will be the most accurate and efficient means of tracing the shoot as it continues downdip. Announcement • May 20
Galleon Gold Corp. Provides Update on Baseline and Permitting Programs at West Cache Gold Project Galleon Gold Corp. provided an update on the baseline studies and permitting plans underway at its 100% owned West Cache Gold Project, Timmins, Ontario. The company has commenced drafting the initial Project Definition Scope document that will be utilized to communicate the proposed Project activities to the regulators responsible for permitting mine development activities. This document will eventually evolve to form part of the advanced exploration closure plan required for the collection of a bulk sample and eventual full scale mining operation. Hydrogeology and Groundwater Quality Monitoring- Groundwater monitoring wells were installed this past winter. Groundwater quality samples are being collected quarterly (spring, summer, fall and winter) to establish a comprehensive groundwater quality database. In addition, level transducers have been installed in the monitoring wells to determine the range in static water levels. These wells will also be used to monitor groundwater elevations during the hydrogeological studies which are planned for later this year. The hydrogeological studies will provide data to support the Permit to Take Water. Geochemistry- Representative core samples from a select number of 2020-2021 drill holes have been delivered to SGS Laboratories. Testing will focus on determining the acid rock drainage and metal leaching potential of waste rock and ore materials. This early characterization of the waste and ore materials will help with future mine planning and design of waste rock management plans, contact water management requirements, and economic assessments. Surface Water Quality Monitoring and Hydrology- Water quality samples are being collected to capture natural environmental and seasonal variability information. Sampling this past fall and winter has been completed and the spring sampling program is currently underway. In addition, two hydrometric stations on two streams on the property have been established to measure baseline streamflows. This data will be used to support the preparation of the Assimilative Capacity Study which in turn will support the Industrial Sewage Works ECA. Terrestrial and Aquatic Environmental Studies- Desktop and field studies are being conducted to identify habitat for species at risk or significant wetland considerations. Terrestrial field investigations will predominately occur in the spring during the breeding bird season (approximately between May 24 to July 10) with follow-up in the summer and fall. Aquatic baseline studies have taken place this spring and will be followed up with summer and fall visits. Archeological Assessment- A Stage 1 Archeological Assessment for the Project to determine if there is potential for archeological sites within the Project has been completed and submitted to the Ministry of Heritage, Sport, Tourism, and Culture Industries for their consideration and review. Announcement • May 05
Quebec Aur Limited entered into an agreement to acquire Non-Core Quebec Properties from Galleon Gold Corp. (TSXV:GGO). Quebec Aur Limited entered into an agreement to acquire Non-Core Quebec Properties from Galleon Gold Corp. (TSXV:GGO) on May 4, 2021. Pursuant to the terms of the agreement, Quebec Aur has paid CAD 250,000 and will issue to the company 600,000 common shares of Quebec Aur to obtain 100% ownership of the properties. Quebec Aur has entered into a Letter of Intent with a publicly listed TSX Venture Exchange listed company ("PublicCo") whereby Quebec Aur will be acquired by PublicCo and each Quebec Aur Share will be exchanged for one share of PublicCo. The price of the PublicCo common shares is currently at CAD 0.25. If the acquisition of Quebec Aur by PublicCo is not completed by September 15, 2021, Quebec Aur shall, at its election, pay to Galleon Gold CAD 150,000 or Quebec Aur shall transfer the properties back to Galleon Gold. In addition, Quebec Aur has granted a 1% net smelter returns royalty (the "NSR") on any of the properties' claims that do not have an existing royalty. The NSR can be repurchased by Quebec Aur for CAD 1 million. Announcement • Mar 05
Galleon Gold Corp. Provides an Update on the Ongoing Drill Program at its 100% Owned West Cache Gold Project, Timmins, Ontario Galleon Gold Corp. provided an update on the ongoing drill program at its 100% owned West Cache Gold Project, Timmins, Ontario. The Company has completed 38,000 meters of drilling in 177 core holes and continues to return excellent drill results from across the project area. Highlights from Central East Pit and the newly expanding area southward: WC-20-65 intersected - 7.33 g/t Au over 1.5 m (103.5 to 105 m), 5.22 g/t Au over 1.5 m (244.5 to 246 m), 5.94 g/t Au over 1.0 m (270 to 271 m); WC-20-66 intersected 6.68 g/t Au over 1.5 m (409.5 to 411 m); WC-20-67 intersected 7.9 g/t Au over 1.0 m (130 to 131 m); WC-20-68 intersected - 7.4 g/t Au over 1.0 m (175 to 176 m); 7.2 g/t Au over 1.0 m (315 to 316 m); 9.2 g/t Au over 1.0 m (322 to 323 m); WC-20-69 intersected 9.82 g/t Au over 1.5 m (252 to 253.5 m); WC-20-70 intersected 13.6 g/t Au over 1.0 m (216 to 217 m); WC-20-71 intersected 12.6 g/t Au over 1.5 m (174 to 175.5 m); WC-20-73 intersected 27.0 g/t Au over 1.0 m (235.5 to 236.5 m); WC-20-91 intersected 14.0 g/t Au over 1.5 m (119 to 120.5 m). Holes 65, 67, 68 and 69, (Figure 1) provide support for the East Pit area definition drilling. Holes and intercepts to the south; including 66, 70, 71, 73 and 91, are part of a previously untested mineralized area located south of the East Pit. Additional drilling is planned in this newly emerging southern area. Highlights from New Zone #9: WC-21-116 intersected 3.52 g/t Au over 7.0 m (69 to 76 m), including 6.26 g/t Au over 2.0 m. WC-21-117 intersected 1.37 g/t Au over 17.5 m (67.5 to 85 m), including 2.49 g/t Au over 5.0 m. WC-21-099 intersected 1.63 g/t Au over 7.0 m (94.5 to 101.5 m), including 4.09 g/t Au over 2.0 m. Highlights from the Gap Area: WC-20-58 intersected 9.82 g/t Au over 1.5 m (244.5 to 246 m); WC-20-61 intersected 5.05 g/t Au over 0.65 m (174 to 174.65 m); and 9.98 g/t Au over 1.5 m (209.5 to 211 m). Announcement • Feb 18
Galleon Gold Corp. Announces Additional Results from Ongoing Drill Program at its 100% Owned West Cache Gold Project, Timmins, Ontario Galleon Gold Corp. announced additional results from its ongoing drill program at its 100% owned West Cache Gold Project, Timmins, Ontario. In addition, the Company is pleased to share core photos showing visible gold in a recently completed drill hole. WC-21-115 intersected 11.25 g/t Au over 6.0 meters (75 to 81 m), including 15.84 g/t over 4.0 m. The true thickness of these intervals is estimated at 96.6% of the intercept length resulting in 5.8 and 3.8 meter intervals respectively. Visible Gold ("VG") has been encountered in hole WC-21-142 close to the bedrock surface (85m). Results from core hole 115 are important as they highlight strong results much closer to the top of
bedrock and well up-dip from some of the better results obtained to date. Adjacent drill holes could provide additional intercepts once assays have been received. VG Encountered in Hole 142: Based on the success of intersecting Zone #9 in recent shallow angle drillholes, the Company is currently drilling a fence of similar angle holes along strike to the west. Hole 142, the sixth hole in this sequence of 10 holes, has encountered visible gold in a quartz vein at 85 meters. Importantly, this intercept is considered a step-out into an area with limited historic information and extends the prospective potential of Zone #9 further to the west. Announcement • Feb 03
Galleon Gold Corp. Provides an Update on its Ongoing Drill Program at its West Cache Gold Project, Timmins, Ontario Galleon Gold Corp. provided an update on its ongoing drill program at its 100% owned West Cache Gold Project, Timmins, Ontario. Results from core hole 82 provides important additional information down-dip as drilling continues to confirm the projected northwesterly trend of the New Shoot in Zone #9. WC-20-082 intersected 9.4 g/t Au over 10.0 meters (310 to 320 m), including 16.4 g/t over 4.0 m (322 m to 326 m). The true thickness of these intervals is estimated at 96.6% of the intercept length; 9.66 and 3.86 meters respectively. The Company first discovered the high-grade Zone #9 Shoot in September, and since that time, has treated the current drilling campaign at West Cache as two separate programs. The first program focused on infill drilling of known mineralized areas, while the second program has focused on defining Zone #9. In November 2020, a second drill was brought onto the project to accelerate exploration. As of January 31, the Company has completed the initial 2020-2021 infill drill program and both drills are now deployed to Zone #9, where they will continue to define the New Shoot area and explore for similar high- grade shoots along strike. Zone #9 Update: The high-grade Zone #9 New Shoot continues to impress with its continuity in width and grade. Hole 82 has the best combination of grade and width encountered in the Zone to date, which is a positive development as we follow the New Shoot to greater depths to the northwest. Figures 1 to 3 provide additional plan view and cross sectional data on WC-20-082 and surrounding drill results and locations. Infill Drill & PEA Update: The initial infill drill program was designed to provide better definition and confirm geological continuity of mineralized gold zones in contemplated open pit and near surface underground areas. Approximately 81 holes were completed in the East, West and Gap pit areas. The Company anticipates that all assays from this portion of the program will be received within six weeks. All drill hole data from the infill program will be transferred to our third-party contractor P & E Mining Consultants to start the modelling work for an updated Resource and a Preliminary Economic Assessment ("PEA"). Due to the importance of Zone #9 and its potential impact on project economics, drill data will continue to be accumulated into March for inclusion in the resource model and PEA. Announcement • Jan 13
Galleon Gold's Zone #9 Continues to Intersect High-Grade Gold At West Cache Gold Project Galleon Gold Corp. announced additional gold intercepts in and around the recently discovered Zone #9 high grade shoot at its 100% owned West Cache Gold Project, Timmins, Ontario. Recent drilling confirms that Zone #9 continues to show favorable grade continuity and widths within the shoot at depth. Current drilling is expected to provide better near-surface definition and test the shoot to greater depth. WC-20-081 intersected 8.68 g/t Au over 10.0 m, from 276 to 286 m including sub-intervals of 12.25 g/t Au over 2.0 m and 12.04 g/t Au over 2.0 m WC-20-080 intersected 8.25 g/t Au over 9.0 m, from 190 to 199 m including a sub-interval of 19.7 g/t Au over 1.0 m WC-20-079 intersected 3.37 g/t over 5.0 m from 161 m to 166 m including a sub interval of 6.43 g/t over 1.0 m. Announcement • Jan 06
Galleon Gold Corp. Receives Expanded Drill Permit on its West Cache Gold Project Galleon Gold Corp. reported that it has received an expanded drilling permit from the Ministry of Energy, Northern Development, and Mines (ENDM) for its 100% owned West Cache Gold Project (West Cache), Timmins, Ontario. The Company completed 100 core holes in 2020 under a previous exploration permit where drilling was limited to the known mineralized areas. The newly expanded permit increases the exploration area from 265 to 1446 hectares. Importantly, this expanded area increases the target area for drilling from 2.0 to 6.0 km along strike (east-west), while increasing the width for the potential discovery of new gold zones from 1.0 to 3.0 km (north-south). Moreover, with the expanded private land added during 2020, an additional 410 hectares of ground is also available for exploration. There are currently two drills turning on the project. As previously announced, one drill is focused on the high-grade Zone #9, while the second rig is completing definition in-fill work on near surface gold mineralization in the East Pit and Gap Zones, before it moves to Zone #9. Since the start of drilling in June 2020, the Company has completed approximately 24,000 meters of drilling. Announcement • Dec 23
Galleon Gold Drills 100th Hole At West Cache Gold Galleon Gold Corp. reported that it has drilled its 100th core drill hole, and has completed approximately 24,000 meters of drilling to date on its 100% owned West Cache Gold Project, Timmins, Ontario ("West Cache"). As previously reported, excellent grades have been encountered in both the East and West Pit infill drill holes, and the new discovery high-grade gold Zone #9 is poised to continue returning exciting assay results in 2021. One of the goals at the commencement of the drilling program in June 2020 was to infill drill known areas of mineralization in the East and West pit areas, and to test the ground between the pits (the "Gap Zone") where there had been little historic drilling. Results emerging from the infill drill program indicate that in addition to widespread gold mineralization throughout the pits, the Gap Zone area is also well mineralized, and the Company is starting to gather sufficient data to tie the pits together. Gap Zone hole WC-20-50 intersected 8.93 g/t Au over 3m from 156 m to 159 m including a subinterval of 26.5 g/t Au over 1m. The Gap Zone becomes important for the economics of the project as the resource becomes better defined and grades in the pits start to increase. The Company announces that it has received a payment of $100,000 from Puma Exploration ("Puma") in relation to the second anniversary date of an Option and Sale Agreement on the Chester Property, New Brunswick dated January 17, 2019. Due to delays caused by COVID-19 restrictions, the Company has granted a three-month extension to Puma to complete $350,000 exploration expenditures. If Puma fails to complete the exploration expenditures before April 17, 2021, it can pay $50,000 to obtain an additional three-month extension (the "Additional Extension") until July 17, 2021. Requirements to complete the third-year exploration expenditures of $500,000 and payment of $100,000 by January 17, 2022 remain unchanged unless Puma requests the Additional Extension, in which case third-year
exploration expenses are accelerated and must be completed by July 17, 2021. Announcement • Dec 05
Galleon Gold Corp. Continues to Intersect High Grade Gold At Its West Cache Gold Project Galleon Gold Corp. reported it continues to intersect significant gold grades in all three target areas at its 100% - owned West Cache Gold Project, Timmins, Ontario. WC-20-075 intersected 6.6 g/t Au over 4.0 m, from 54 to 58 m including sub-interval of 10.87 g/t Au over 2.0 m; near surface intercept of Zone-9. WC-20-072 intersected 3.27 g/t Au over 5.2 m, from 144 to 149.2 m including sub-interval of 9.4 g/t Au over 1 m; West Area intercept. WC-20-041 intersected 4.16 g/t Au over 4.5 m, from 241.5 to 246 m; East Area intercept. With two drills now deployed on the property, one drill is exclusively focused on Zone #9, while a second drill rig is working to delineate near surface gold mineralization in the East Pit area. Zone #9 drilling is focused on completing a north-south fence of drillholes located 50 meters west of the initial discovery area, where five-holes have traced the mineralization from seven meters below the bedrock interface to a depth of 165 meters. As grade continuity and thickness continue to be defined with the ongoing Zone #9 drilling, similar near surface targets will be drill tested along strike to the east and west. The Company's geologists continue to gain insight into the possible link between the distinct geologic features characterizing the recent near surface Zone #9 gold mineralization and similar high-grade sediment hosted mineralization encountered in historic drilling approximately 500 meters downdip to the northwest. The second drill rig is completing infill drilling of the contemplated East Pit area and related deeper extensions as discussed in recent Company news releases. The latest results continue to confirm the continuity and grade of the mineralized shear zones from the bedrock interface to vertical depths of several hundred meters. Data from both Zone #9 and the infill pit areas will be included in the Preliminary Economic Assessment, targeted to be published by early April 2021. Upon completion of the infill drill program, the second drill will shift to Zone #9 for additional exploration along strike and dip. Announcement • Nov 25
Galleon Gold Corp. Elects Richard F. Nanna as Director Galleon Gold Corp. announced that at the annual and special meeting of shareholders held on November 24, 2020, it has approved election of Richard F. Nanna as director. Announcement • Nov 18
Galleon Gold Corp. Adds Second Drill Rig at West Cache Gold Project and Commences Phase Two Drill Program Galleon Gold Corp. reported it has added a second drill rig to its ongoing drill program at the Company's 100%-owned West Cache Gold Project, Timmins, Ontario. The Company has completed 15,000 meters of its initial infill core drilling program and has commenced a Phase Two drilling program for an additional 15,000 meters. The current two drill program is fully funded from the oversubscribed financing of $8.0 million completed on October 14, 2020. Drilling is expected to continue through 2021. With two drill rigs concurrently operating, the Phase Two drill program will include one drill focused on the newly discovered high-grade gold Zone #9 and the other drill will continue to infill drill the mineable open pit and underground areas previously identified. Once the infill drilling has been completed, both drills will be core drilling exclusively on Zone #9. The Company plans to initiate the transfer of the drill hole database and assays to P & E Mining Consultants Inc. in January and February 2021 in preparation for Preliminary Economic Assessment ("PEA") work. Modeling of the West Cache Gold open pit and underground workings, as well as an estimation of a new gold resource with projected economics will be developed. The PEA is targeted to be published by early April 2021. Announcement • Nov 11
Galleon Gold Corp. Reports Continued Expansion of the Recently Discovered Zone #9 High-Grade Gold System on its 100% Owned West Cache Gold Project, Timmins, Ontario Galleon Gold Corp. reported continued expansion of the recently discovered Zone #9 high-grade gold system on its 100% owned West Cache Gold Project, Timmins, Ontario. WC-20-31 intersected 5.87 g/t Au over 8.5 m, from 274.5 to 283 m including sub-interval of 2.0 m at 10.1g/t Au. WC-20-53 intersected 3.06 g/t Au over 8.0 m, from 148 to 156 m including a sub-interval of 1.0 m at 7.53 g/t Au. WC-20-54 intersected 2.63 g/t over 8.0 m, from 190 to 198 m including a sub-interval of 2.0 m at 4.64 g/t Au. Hole 31 was drilled 26 meters down-dip from discovery hole WC-20-30 (9.7 m over 7.16 g/t Au), while Holes 53 and 54 were drilled 67 and 36 meters respectively up-dip from Hole 30. To date the width and grade continuity on confirmed Zone #9 intercepts continue to indicate the presence of a significant mineralized gold zone. Infill Program: The Company's 15,000 meter infill drilling program with full assays to be completed by year end will provide detailed drill data for an updated gold resource and Preliminary Economic Assessment (PEA) due early in 2021. This program provides closer spacing of the intercepts, as well as additional step-out extensions. A typical infill drillhole averages 230 meters in length, but with the low angle of the uniformly south-directed drilling the average vertical depth of exploration is about 165 meters. Much of the infill program targets potential open pit gold mineralization, with additional targeting of near surface underground potential. Deeper targeting of adjacent mineralization has resulted in the recent recognition of Zone #9 - the best near surface (underground) gold zone discovered on the Property to date. Announcement • Sep 30
Galleon Gold Corp. Confirms High Grade Discovery Zone - West Cache Gold Project Galleon Gold Corp. announced results that confirm the discovery of a new high- grade gold zone, adding new dimension to its 100% owned West Cache Gold Project, Timmins, Ontario. WC-20-42 has intersected 7.44 g/t Au over 10.7 meters, including separate sub-intervals of 3.3 m at 8.88 g/t Au and 2.9 m of 10.19 g/t Au. WC-20-042 (Hole 42) was drilled to offset WC-20-030 (Hole 30) which returned results of 7.16 g/t Au over 9.7 m with a sub-interval of 3.0 m of 14.75 g/t Au. Hole 42 is located approximately 50 meters along strike to the west of the Hole 30, the "discovery hole" for Zone #9. The location and orientation of Shear Zone #9 up-dip from the West Deep area discovered in 2010, suggests that the recently discovered Hole 30 and 42 mineralization may be linked to the West Deep. Geologic similarities linking the new discovery to the much deeper West Deep zone, include: 1) host rock lithology, 2) a strong sulfide association, and 3) similar gold grades and widths. Interestingly, West Deep "discovery hole" TPW-10-30 intercepted 9.21 g/t Au over 11.0 meters (0.268 opt Au over 36 feet). A cross sectional view of WC-20-042 and how it relates to WC-20-030 and the West Deep area. Newly Expanded Program: The Company now views exploration on the project as two separate programs: 1) infill drilling of known areas to support the resource update and PEA, and 2) exploration drilling focused on the newly recognized Zone #9 discovery and identifying other areas with similar potential. The high-grade and thick nature of the recent discovery intercepts this close to the surface are not typical of the better known "infill areas" and are considered too important to ignore. Upon completion of the recently announced GGO financing, the Company plans to immediately increase its core logging and sampling capacity in Timmins to handle increased core flow from an expanded exploration program. The Zone #9 drilling will be directed at answering the following questions: 1) what is the near surface geometry of the thicker, higher-grade portions of Zone #9; 2) can this mineralization be linked with the West Deep high grade area; 3) are there additional higher grade shoots present along strike; 4) what role do host rocks play; 5) what is the relationship between gold, pyrite, and other sulfides; 6) are there secondary structural controls; 7) do higher grade portions of Zone #9 relate to better mineralization in adjacent shear zones; and 8) can Zone #9 provide a higher priority underground target for mining. The West Cache Gold Project is located 13 km west of Timmins Ontario, it is serviced by Provincial highway 101 and secondary access roads. It is situated along the Porcupine-Destor gold belt, approximately 7 km northeast of Pan American Silver's Timmins West Mine and 14 km southwest of Newmont's Hollinger Mine. Announcement • Sep 17
Galleon Gold Corp. announced that it expects to receive CAD 8 million in funding Galleon Gold Corp. (TSXV:GGO) announced a private placement of 25,000,000 units at a price of CAD 0.12 per unit for proceeds of CAD 3,000,000 and flow-through units at a price of CAD 0.135 per unit to traditional flow-through purchasers and at a price of CAD 0.17 per unit to charitable flow-through purchasers for proceeds of CAD 5,000,000 for aggregate gross proceeds of CAD 8,000,000 on a best efforts basis, on September 16, 2020. Each unit will be comprised of one common share and one common share purchase warrant. Each flow-through unit will be comprised of one flow-though common share and one warrant. Each warrant will entitle the holder to purchase one common share at a price of CAD 0.18 at any time on or before the date which is 36 months after the closing date of the transaction. The transaction is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The securities to be issued will have a hold period of four months and one day from the closing of the transaction in accordance with applicable securities laws. The transaction is expected to close on or about the week of October 14, 2020. 
