Agreement to Acquire Crushing Plant for Andacollo
Galantas Gold Corporation has entered into a binding agreement to acquire a 20,000 tonnes per day crushing plant and associated agglomeration equipment from Mexico for US$4.2 million, to be installed at its Andacollo Gold Project in Chile. This acquisition significantly advances the company's restart strategy, reduces project execution risk, and is expected to shorten the development schedule, with gold production anticipated to commence in Q1 2027. M3 Engineering & Technology Corporation has been appointed to manage the plant's relocation and reassembly.
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| Toronto, Ontario - July 13, 2026 - Galantas Gold Corporation ("Galantas" or the "Company") (TSX-V: GAL | AIM: GAL | OTCQX: GALKF) announces that it has entered into a binding agreement to acquire a complete three-stage crushing plant and associated agglomeration plant equipment located in Mexico for installation at its 100%-owned Andacollo Gold Project in Chile, for total consideration of US$4.2 million. Completion remains subject to execution of a definitive asset purchase agreement and satisfaction of customary conditions, including regulatory, corporate, export, import and other third-party approvals. |
The crushing plant is designed for a nominal throughput capacity of approximately 20,000 tonnes per day and is reported by the seller to be in good operating condition, subject to Galantas' ongoing technical, legal and title due diligence. The acquisition represents a significant milestone in the Company's restart strategy and forms a key component of the planned development of the Andacollo Gold Project.
To execute the relocation of the plant, Galantas has appointed M3 Engineering & Technology Corporation ("M3"), an internationally recognized engineering firm with extensive experience in the design, construction and delivery of large mining projects throughout the Americas. M3 has commenced the detailed engineering and project execution activities, including plant documentation, disassembly planning, logistics, transportation engineering, and preparation for reassembly and commissioning in Chile.
With the crushing facility now secured, the Company expects gold production at Andacollo Gold to commence in Q1 2027.
Mario Stifano, CEO of Galantas, commented: "This acquisition is another major execution milestone for Galantas and materially advances the development of the Andacollo Gold Project. Securing a high-quality, proven crushing plant significantly reduces project execution risk, shortens the development schedule and represents substantial capital savings compared with constructing a new crushing facility. Together with our engineering partners at M3, we have now transitioned from project planning into active execution."
Robert Sedgemore, SVP of Operations of Galantas, continued: "Our project execution team is now fully mobilized at Andacollo Gold. Engineering has commenced, procurement activities are accelerating, site infrastructure work is progressing, and we continue to advance the permitting,
construction and operational readiness programs required to bring Andacollo Gold back into production."
Project Execution Underway
Galantas has assembled an experienced technical, engineering and operations team to lead execution of the restart program. Current activities include:
§ Detailed engineering for crushing plant relocation and installation
§ Site preparation and infrastructure upgrades
§ Procurement and contracting for key project work packages
§ Operational readiness planning
§ Mine planning and development activities
§ Recruitment and expansion of the Chilean operating team
§ Advancement of environmental, permitting and regulatory activities
Figure 1. Photos of the three-stage crushing plant being acquired by Galantas
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.