Galantas Gold Corporation
TSX VENTURE : GAL
AIM : GAL

Galantas Gold Corporation

January 24, 2012 09:00 ET

Galantas Announces Strategic Land Purchase

TORONTO, ONTARIO--(Marketwire - Jan. 24, 2012) - Galantas Gold Corporation (TSX VENTURE:GAL)(AIM:GAL) (the 'Company'), the AIM and TSXV quoted producer/developer/explorer with a 100% interest in Ireland's only operating gold mine, has purchased through its wholly owned subsidiary, Omagh Minerals Limited, a strategic parcel of land near Omagh, County Tyrone, Northern Ireland.

The freehold land parcel is contiguous with the mine and lies to the north-west of the existing land holding. It comprises an area of approximately 52 acres and was purchased for £247,000. Part of the land overlies the Joshua Vein discovery, for which drilling results were recently detailed in the formal announcement of 12th January 2012.

Roland Phelps (President and CEO, Galantas Gold Corporation) commented, "This land purchase secures surface rights over the recently discovered northern extension to Joshua Vein and has been financed from cash generated from operations. I am very pleased that the Company managed to acquire the land as I expect it to be an important asset for the future."

Galantas Gold Corporation Issued and Outstanding Shares total 235,650,055.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Galantas Gold Corporation
    Jack Gunter P.Eng
    Chairman
    +44 (0) 2882 241100

    Galantas Gold Corporation
    Roland Phelps C.Eng
    President & CEO
    +44 (0) 2882 241100
    info@galantas.com
    www.galantas.com

    Maclir Consulting Ltd
    Courtenay Heading
    Investor Relations Consultant
    (UK) +44 (0) 7624 424 455
    c.heading@Galantas.com

    Religare Capital Markets
    Phil Davies
    AIM Nominated Adviser
    +44 (0) 20 7444 0800

    Beaufort International Associates Ltd
    Barry Gibb
    Corporate Finance
    +44 (0) 20 7930 8222

    Beaufort International Associates Ltd
    Saif Janjua
    Corporate Finance
    +44 (0) 20 7930 8222

    Beaufort International Associates Ltd
    Kenneth Pio D'Mello
    Corporate Broking
    +44 (0) 20 7930 8222