Galantas Gold Corporation
TSX VENTURE : GAL
AIM : GAL

Galantas Gold Corporation

March 31, 2006 01:00 ET

Galantas Gold Corporation: Commencement Of Trading On AIM

TORONTO, ONTARIO--(CCNMatthews - March 31, 2006) - Galantas Gold Corporation ("Galantas")(TSX VENTURE:GAL)(AIM:GAL), a company with a gold mine in development in Northern Ireland, today announces that its shares have successfully been Admitted to trading on the Alternative Investment Market of the London Stock Exchange, via an Introduction.

HIGHLIGHTS


- Number of Common Shares in Issue following Admission: 131,007,958.

- Market capitalisation on Admission: C$28.52 million. Price per share: C$0.2125

- Galantas dual-listed on both AIM and the TSX Venture Exchange in Canada.

- Currently constructing a plant which will have the capacity to process 30,000 oz of gold annually from its reserves in Northern Ireland.

- Negotiations in hand with a number of smelters, two of which have made initial offers to purchase the gold and other metals concentrate produced by the Group.

- Galantas has market tested the sale of Certified Irish Gold Jewelry and test marketing results are favourable.

- Strong Board with significant experience in the mining sector.

- ARM Corporate Finance Limited is Nominated Adviser, and Lewis Charles Securities Limited is Broker to Galantas.

Commenting on the admission to AIM, Roland Phelps, President and Chief Executive Officer of Galantas said: "The admission to AIM will help to widen Galantas' investor base and will allow Galantas to have greater access to the London equity capital markets. As Galantas is currently in the process of constructing a plant with a 30,000oz capacity per annum with production expected to commence in Q2 2006, the Board believe that now is an optimum time for a UK listing."

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. 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 AIM Admission Document is available from ARM Corporate Finance Limited, 12 Pepper Street, London, E14 9RP. See also: www.galantas.com

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
    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
    or
    ARM Corporate Finance Limited
    Nick Harriss
    +44 (0) 20 7512 0191
    or
    Lewis Charles Securities Limited
    David Scott
    +44 (0) 20 7065 1150