Galantas Gold Corporation
TSX VENTURE : GAL
AIM : GAL

Galantas Gold Corporation

May 16, 2006 08:00 ET

Galantas Gold Corporation: Drilling Program Initiated

TORONTO, ONTARIO--(CCNMatthews - May 16, 2006) - Galantas Gold Corporation (TSX VENTURE:GAL)(AIM:GAL), a company with a gold mine in development in Northern Ireland, announces that an exploration drilling program has been initiated and the drill contractor (Irish Drilling Limited) has mobilized a drill onto site today. The program will test some high priority targets near the mine-site. The program will be HQ size with triple tube in order to maximise core recovery.

Galantas Gold Corporation is building Ireland's first gold mine on its 189 sq km exclusive Prospecting Licence. The corporate aim is to increase the resource base on the property through exploration and mine development, to expand mine production in stages, and to add value to the Company's production by marketing and selling certified Galantas ™ Irish gold jewellery.

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)28 8224 1100
    or
    Galantas Gold Corporation
    Roland Phelps C.Eng
    President & CEO
    +44(0)28 8224 1100
    or
    Galantas Gold Corporation
    Moe Lavigne P.Geo
    Vice President
    +44(0)28 8224 1100
    info@galantas.com
    www.galantas.com
    or
    Bishopsgate Communications Ltd.
    Nick Rome
    +44 (0) 207 430 1600
    or
    Bishopsgate Communications Ltd.
    Dominic Barretto
    +44 (0) 207 430 1600