Galantas Gold Corporation
TSX VENTURE : GAL

Galantas Gold Corporation

September 28, 2005 13:27 ET

Galantas Discovers Boulders With up to 40 g/tonne Gold

OMAGH, NORTHERN IRELAND and TORONTO, ONTARIO--(CCNMatthews - Sept. 28, 2005) - Galantas Gold Corporation (TSX VENTURE:GAL) is pleased to announce that it has discovered additional gold bearing boulders derived from glacial till on its Omagh property. The boulders appear unrelated to gold veins discovered so far and may have a source related to local VTEM targets.

The company is verifying its historical exploration database, most of which is the product of the program conducted by a subsidiary of Rio Tinto from 1985 to 1990. During that program, reconnaissance sampling of boulders in stream beds produced 176 samples that assayed greater than 1 gram per tonne gold (g/t Au), of which 15 sampled greater than 73 g/t Au. The highest sample was 156 g/t Au. Galantas engaged independent consultants Aurum Exploration Ltd to resample the stream beds north of the mine where several historical samples were greater than 100 g/t Au, and whose bedrock source remains undiscovered. OMAC Laboratories of Galway, Ireland assayed the samples. Nineteen samples were submitted for assay, of which 7 assayed greater than 1 g/t Au, the highest being 40.00 g/t Au. These seven samples are plotted on the attached map which may also be viewed on www.galantas.com . In addition to getting results similar to the historical data, gold bearing boulders were also discovered in previously unsampled stream beds 1.5 kilometers northwest of the minesite. The distance to the bedrock source of boulders in the local glacial till is considered usually not more than several hundred metres. Moe Lavigne states "The implication of discovering high grade boulders over such a large area is that many veins in bedrock remain to be discovered and I look forward to discussing the results with shareholders at the Toronto Resource Investment Show October 2nd & 3rd". Mr Lavigne is the qualified person at Galantas responsible for the program of work.

The coincidence of these and other types of geochemical anomalies with anomalies generated by the VTEM airborne survey will be designated as priority targets for upcoming exploration drilling.

Galantas Gold Corporation is building Ireland's first gold mine, with production scheduled for Spring 2006. 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".

NOTE: To view a map of the property location please click on the link below:

http://www.ccnmatthews.com/docs/ggc0928.gif

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.Geo
    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
    info@galantas.com
    www.galantas.com