Contractors Selected for Andacollo Gold Project

Galantas has selected M3 Engineering & Technology Corporation ("M3") to lead the PEA and the crushing plant relocation program from Mexico to site, as previously announced on July 13, 2026. The PEA is targeting completion for Q4 2026.

Mario Stifano, Chief Executive Officer of Galantas, commented: "Andacollo Gold is a permitted brownfield restart with low capital intensity supported by an established Mineral Resource Estimate. M3 is leading the PEA and crushing plant relocation program, while NCL Ingeniería y Construcción Ltda. of Chile is advancing the mine design and production schedules, and STRACON is providing mining cost, fleet and execution-planning input. In parallel, our Project and operations team led by Robert Sedgemore, Senior Vice President Operations, is advancing infrastructure refurbishment, procurement, contractor engagement and operational readiness at site. Our priorities remain safe execution, capital discipline and cost control as the Company advances toward a potential restart, currently targeted for the first quarter of 2027."

Andacollo Gold is a permitted past-producing brownfield heap-leach gold operation with existing infrastructure, including historical open pits, crushing areas, heap-leach facilities, solution ponds, an adsorption, desorption and recovery ("ADR") plant, workshops, offices, site roads, and established power and water infrastructure.

The existing site infrastructure, together with the acquired crushing plant is expected to lower the capital intensity to restart operations, shorten the restart schedule and reduce execution risk compared with the development of a comparable greenfield operation. In addition, the Company's current budget and available financing are expected to support the planned restart activities described herein.

Crushing Plant Relocation

In addition to preparing a PEA, M3's mandate includes the provision of engineering, procurement support and construction-management services for the dismantling, preservation, transportation, installation and commissioning of the recently acquired crushing plant.

The acquired equipment comprises a three-stage crushing plant with a stated design capacity of approximately 20,000 tonnes per day (tpd), subject to confirmation through engineering review, equipment inspection and assessment of the proposed operating configuration.

M3 will assess the existing crushing area, foundations, electrical infrastructure and site configuration required to integrate the relocated equipment at the Andacollo Gold site. M3 has prepared a preliminary general arrangement showing the proposed location and configuration of the crushing plant. The layout illustrates how the crushing circuit, conveyors, stockpile areas and associated infrastructure may be integrated with the Project's existing facilities.

Figure 1: Preliminary general arrangement prepared by M3 showing the location and integration of the relocated crushing plant at Andacollo Gold. The layout remains subject to further engineering, site verification and final design.

Restart Activities Advancing

NCL Ingeniería y Construcción Ltda. (NCL) is advancing the mine design and production schedules for the restart and expansion scenarios.

STRACON is providing early contractor involvement and practical input into mining fleet requirements, operating costs, mine infrastructure, pit dewatering, truck-shop refurbishment, contractor mobilization and mining execution planning.

A full condition assessment has been completed for the existing ADR plant, defining the scope of work required for refurbishment. Cleaning, inspection, repair, replacement and sandblasting activities are underway as part of the active refurbishment program.

Long-lead items have been purchased, and contracting and procurement packages are in execution.

Inspection and rehabilitation planning is also advancing for the heap-leach facilities and associated pumping, irrigation and solution-management systems, alongside mine planning, crushing plant relocation engineering, capital and operating cost development and continued contractor engagement.

Mineral Resource Estimate

The Project is supported by the Mineral Resource Estimate set out in the Technical Report entitled "Technical Report - Mineral Resource Estimate Update, Andacollo Oro Gold Project, Coquimbo Region, Chile", prepared by DRA Americas Inc., with an effective date of February 1, 2026 and a report date of May 4, 2026, and is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website.