Conversion of Securities

May 15, 2024, TORONTO, CANADA - Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) ("Galantas" or the "Company") announces that US$60,000 of convertible debentures, as detailed in releases dated November 9, 2023 and December 20, 2023 (the "Debentures") and approved by the TSX Venture Exchange, have been converted into common shares of the Company.

The Debentures are convertible at the option of the holder thereof into common shares in the capital of the Company at a conversion price of US$0.255 per Conversion Share. The Debentures bear interest at a minimum interest rate of 10% per annum.

As governed by the Debentures, 235,294 common shares of no par value ("Common Shares") have been issued at a price of US$0.255.

The Company has applied for admission of the Common Shares in connection with the Debenture to trading on the AIM market of the London Stock Exchange ("Admission") with Admission expected to occur on or around May 16, 2024.

Following Admission, the Company will have US$5,278,000 in Debentures remaining in issue. The total number of Common Shares of the Company following Admission will be 114,770,587.