Galantas Gold Corporation
TSX VENTURE : GAL
AIM : GAL

Galantas Gold Corporation

July 08, 2008 10:00 ET

Galantas Names Leo O'Shaughnessy As New Chief Financial Officer

LONDON, UNITED KINGDOM--(Marketwire - July 8, 2008) - Galantas Gold Corporation ('Galantas' or the 'Company') (TSX VENTURE:GAL)(AIM:GAL), which has a 100% interest in Ireland's only gold mine, reports that it has accepted the resignation of its Chief Financial Officer, Brent Routledge, effective July 18, 2008. Due to family reasons, Mr. Routledge was not able to complete his move to the base of operations in Northern Ireland. He has agreed to stay on in a consulting capacity after July 18 until such time as the Company deems appropriate. The Directors of the Company appreciate the help and assistance provided and wish Mr. Routledge success in his future endeavours.

Leo O'Shaughnessy, (58) of Dublin, Ireland has agreed to become Chief Financial Officer of the Company, commencing September 2008. Mr. O'Shaughnessy is a chartered accountant with over 30 years experience in both private and public companies with significant experience in the mining industry. From 1996 to 2002, he was Finance Director for Anglo American plc's zinc/lead Lisheen Mine located in Ireland, during the period when this mine was brought into commercial production. From 1976 to 1996, he was Group Accountant and Financial Controller for Tara Mines Ltd., a zinc/lead mine, also located in Ireland. From 2002 he has operated his own consultancy business involving various activities including (2002-2005) Head of Marketing for Tara Mines Ltd., (2005-2007) Chief Financial Officer for PGM Ventures Corporation (Iberian Minerals Corp.) and is currently Chief Financial Officer for Cadillac Ventures Inc.

Although this is not an appointment as a director of the Company and in accordance with Schedule 2 (g) of the AIM Rules for Companies, the following information is disclosed in relation to the appointment of Mr. O'Shaughnessy:



Current Directorships Previous Directorships
(within the last five years)

Laticrete Ireland Limited None


There are no further disclosures, in relation to Leo O'Shaughnessy, to be made in accordance with Schedule 2 (g) of the AIM Rules for Companies.

In the interim period, Roland Phelps, the President and Chief Executive Officer will assume the duties of Chief Financial Officer, with the assistance of Mr. Routledge.

The operational open pit mine is situated near Omagh, County Tyrone, Northern Ireland. The mine produces a flotation concentrate containing gold, silver and lead, which is exported and sold to a Canadian smelter. Some gold from the mine is down-streamed into certified Irish gold jewellery which is sold on-line at www.galantas.com and via leading UK & Irish retailers.

Galantas Gold Corporation Issued and Outstanding Shares total 175,675,855.

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
    Chairman
    +44 (0) 2882 241100
    or
    Galantas Gold Corporation
    Roland Phelps C.Eng
    President and CEO
    +44 (0) 2882 241100
    Email: info@galantas.com
    Website: www.galantas.com
    or
    Blomfield Corporate Finance Limited
    Nick Harriss
    +44 (0) 207 489 4500
    or
    Lewis Charles Securities Limited
    Kealan Doyle
    +44 (0) 207 456 9100