Galantas Gold Corporation
TSX VENTURE : GAL
AIM : GAL

Galantas Gold Corporation

January 30, 2007 10:00 ET

Galantas Drills 27.42g/t Gold at Kearney and 16.36g/t Gold at Elkins

TORONTO, ONTARIO--(CCNMatthews - Jan. 30, 2007) - Galantas Gold Corporation (TSX VENTURE:GAL)(AIM:GAL) (the Company), which is developing Ireland's only gold mine at Omagh, Co.Tyrone, announces additional results of core drilling at the Elkin and Kearney veins. A 422 m, 6 hole program on Elkin has been completed, and assay results for the first four holes were reported December 12th, 2006. The drill rig is currently drilling on the Kearney vein.

Highlights

- 14.36 g/t gold / 0.37 metres and 16.36 g/t gold / 0.6 metres on Elkin A, and B veins

- 7.87 g/t gold / 4.3 metres on Kearney vein, including 27.42g/t gold / 1 metre

Data generated by drilling the Kearney vein will be used to update the reserve-resource model which is being prepared by ACA Howe for release during the third quarter. In addition to in-fill and down-dip drilling, previously unrecognized on strike extensions of the Kearney multiple vein set are being investigated.

A plan for further drilling is being prepared for the Elkin Zone. The combination of shallow dipping mineralization and topography, as well as multiple veins favours building near surface resources.


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ELKIN ZONE - CORE DRILLING RESULTS, January, 2007
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From To Width Grade Grade Grade
Hole ID (m) (m) (m) (g/t gold) (g/t silver) (% Lead)
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OM-DD-06-12 38.90 39.27 0.37 14.36 29.15 2.53
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and 42.90 43.50 0.60 16.36 49.11 1.99
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OM-DD-06-13 49.60 49.80 0.20 4.18 6.10 0.14
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KEARNEY VEIN - CORE DRILLING RESULTS, January, 2007
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From To Width Grade Grade Grade
Hole ID (m) (m) (m) (g/t gold) (g/t silver) (% Lead)
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OM-DD-06-14 110.00 114.30 4.30 7.87 46.95 2.03
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including 113.30 114.30 1.00 27.42 170.84 6.52
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i) The angle between the vein and the drill hole is greater than 75
degrees therefore drilled width approximates true width.


The samples were taken by geological staff under the supervision of M.J. Lavigne P.Geo, (Vice President, Galantas Gold Corp), the Qualified Person for the program. Sampling methodology, security & verification followed standard procedures previously detailed on April 5th 2006 and the samples were analysed (gold by fire assay and other metals by ICP-ORE) at OMAC Laboratory Ltd (an independent, certified CCRMP & ISO 17025 laboratory) in Galway, Ireland.

Mr. Lavigne said, "It is rewarding to see poorly understood gold occurrences such as the Elkin blossom into something substantial".

Issued and Outstanding Shares total 157,851,855

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Contact Information

  • Galantas Gold Corporation
    Jack Gunter P.Eng
    Executive Chairman
    +44 (0) 2882 241100
    or
    Galantas Gold Corporation
    Roland Phelps C.Eng
    President & CEO
    +44 (0) 2882 241100
    or
    Galantas Gold Corporation
    Moe Lavigne P.Geo
    Vice President
    +44 (0) 2882 241100
    Email: info@galantas.com
    Website: www.galantas.com
    or
    ARM Corporate Finance Limited
    Nick Harriss
    +44 (0) 20 7512 0191
    or
    Lewis Charles Securities Limited
    David Scott
    +44 (0) 20 7065 1150