Galantas Gold Corporation

Galantas Gold Corporation

December 03, 2014 09:00 ET

Galantas Enters Into Agreement for Gold Jewellery Premium

TORONTO, ONTARIO--(Marketwired - Dec. 3, 2014) - Galantas Gold Corporation (the Company) (TSX VENTURE:GAL)(AIM:GAL) is pleased to announce that an agreement has been entered into for the production, marketing and sale of a range of jewellery products, using Galantas Irish gold.

The agreement, with TJH Ltd of Dublin, Ireland (TJH), sees Galantas Irish gold, produced from the Company's Omagh mine, being sold to TJH at a premium to the average monthly London Metal Bullion price, subject to a minimum price, with a royalty on wholesale jewellery sales, payable on a quarterly basis. TJH is an established jewellery marketer and manufacturer, having developed other brands, including Irish oriented brands, previously. The premium, minimum price, royalty and volume are confidential for commercial reasons, at the request of TJH.

Galantas has 100% ownership of the only gold mine in Ireland, which is located near Omagh, County Tyrone. The mine was working until recently as an open pit. It has a planning application for continuing operations underground nearing determination. Until underground mining is permitted and operational, Galantas Irish gold, for the purposes of this agreement, is anticipated to be sourced from existing stock from prior production.

The disclosure has been reviewed and approved by Roland Phelps (President & CEO), Galantas Gold Corporation.

Galantas Gold Corporation Issued and Outstanding Shares total 76,697,156.

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
    +44 (0) 2882 241100

    Galantas Gold Corporation
    Roland Phelps C.Eng
    President & CEO
    +44 (0) 2882 241100

    Charles Stanley Securities (Nominated Adviser)
    Mark Taylor
    +44 (0)20 7149 6000