Galantas Reports Award of Incentive Stock Options

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2011) - Galantas Gold Corporation (the Company) (TSX VENTURE:GAL)(AIM:GAL), a gold mine producer and explorer in Northern Ireland, reports that it has awarded 4,200,000 incentive stock options on the Company's common shares to Directors, officers, consultants and key employees, in accordance with the terms of the Company's incentive Stock Option Plan. The exercise price for the options, which expire on September 6^th, 2016 is 10 cents Canadian per share. These options will vest as to one third immediately, one third on September 6^th, 2012 and the remaining third on September 6^th, 2013.

The individual awards to Directors are:-

The total number of incentive stock options awarded under the scheme to Directors, officers, consultants and key employees stand at 15,750,000, with exercise prices of between 10 cents and 23 cents Canadian per share.

This disclosure has been authorised by Roland Phelps (President & CEO) Galantas Gold Corporation.

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