Galantas Gold Corp. (GAL): Indiana resource update and option payments

This situation live

GAL Galantas Gold Corp.

£188m · 20.5p · +290% since the first step

14 Nov 2025 · Resource update under way · −29% until the next step an updated NI 43-101 technical report is expected to be completed before the end of November 2025.

22 Dec 2025 · New Technical Report in preparation; 2013 resource restated · +73% until the next step Galantas is currently preparing the New Technical Report and intends to file it on SEDAR+ upon the completion of the Transaction in accordance with the policies of the TSXV and applicable securities l

2 Jan 2026 · New NI 43-101 filed; PEA work starting · +415% until the next step Galantas intends to commence formal mine design activities and preparation of the PEA.

31 Mar 2026 · Indiana budget cut; PEA work still planned · −37% until the next step The Company continues to view the Indiana Project as a core asset and intends to continue advancing exploration and technical work programs at the Indiana Project in parallel with the integration and

13 Jul 2026 · Binding crushing plant deal; engineering under way · +14% until the next step Completion remains subject to execution of a definitive asset purchase agreement and satisfaction of customary conditions

6 Aug 2026 · Main SERNAGEOMIN approvals secured; one pending · +10% until the next step Based on the planned operating sequence, the Company does not expect this remaining approval to delay the commencement of mining, crushing, initial stacking, leaching or gold recovery.

20 Aug 2026 · All key permits received; no production decision · +36% until the next step Galantas now has all the key regulatory approvals required to resume operations at the Project

27 Aug 2026 · Drilling expanded to 12,500 m; assays pending · −33% until the next step The drill program was expanded to 12,500 metres.

14 Oct 2026 · Exploration prioritised; PEA deferred · −15% since The PEA that was underway is being deferred pending further exploration results.

Project milestones

Indiana resource update and option payments

Exploration prioritised; PEA deferred

Next: Remaining assays from 12,500 m drill programme; updated MRE

Every step · 9

14 Nov 2025 Resource update under way – an updated NI 43-101 technical report is expected to be completed before the end of November 2025. ↗
22 Dec 2025 New Technical Report in preparation; 2013 resource restated – Galantas is currently preparing the New Technical Report and intends to file it on SEDAR+ upon the completion of the Transaction in accordance with the... ↗
2 Jan 2026 New NI 43-101 filed; PEA work starting – Galantas intends to commence formal mine design activities and preparation of the PEA. ↗
31 Mar 2026 Indiana budget cut; PEA work still planned – The Company continues to view the Indiana Project as a core asset and intends to continue advancing exploration and technical work programs at the Indiana... ↗
13 Jul 2026 Binding crushing plant deal; engineering under way – Completion remains subject to execution of a definitive asset purchase agreement and satisfaction of customary conditions ↗
6 Aug 2026 Main SERNAGEOMIN approvals secured; one pending – Based on the planned operating sequence, the Company does not expect this remaining approval to delay the commencement of mining, crushing, initial... ↗
20 Aug 2026 All key permits received; no production decision – Galantas now has all the key regulatory approvals required to resume operations at the Project ↗
27 Aug 2026 Drilling expanded to 12,500 m; assays pending – The drill program was expanded to 12,500 metres. ↗
14 Oct 2026 Exploration prioritised; PEA deferred – The PEA that was underway is being deferred pending further exploration results. ↗

What is happening

Galantas Gold Corp.: Indiana resource update and option payments – Exploration prioritised; PEA deferred. ['Exploration prioritised; PEA deferred']

In short: A new NI 43-101 for Indiana was filed after RDL closed on 31 Dec 2025, and the budget was cut to about $3.9m on 31 Mar 2026. The programme was expanded to 12,500 m (10 Aug 2026). On 14 Oct 2026 the company reported 16 holes completed and assays from six, mostly in new structures outside the MRE. It is now deferring the PEA and prioritising exploration over short-term production, replacing the earlier plan for production by end-2026.
Announced: 14 Nov 2025 · Resource update under way
Latest: 14 Oct 2026 · Exploration prioritised; PEA deferred
Drilling: 16 holes, 5,960 m completed of planned 12,500 m; assays received for six holes (14 Oct 2026)
Next milestone: Assay results pending
Production target: Preparing plans to bring Indiana into production by the end of 2026
Best intercept: 1.48 m at 11.84 g/t AuEq in new structure, outside MRE (hole IN26004)
New trend: North-south Zeus structure; up to 20 m at 0.40 g/t AuEq in Trench 2
PEA: Deferred to include drill results in an updated MRE
Production decision: Not before the expanded 12,500 m programme is completed and evaluated
Underground work: Bondadosa and Flor de Espino development continues; material treated at leased Copiapó plant

What comes next

Remaining assays from 12,500 m drill programme; updated MRE.

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