News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 29, 2015) - Ross J. Beaty, of 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues that on July 24, 2015 he acquired ownership of 16,000,000 units of Galantas Gold Corporation ("Galantas") by way of a private placement from treasury in reliance on the accredited investor exemption set out in section 2.3 of National Instrument 45-106 Prospectus and Registration Exemptions for a purchase price of CDN$0.12 per unit and an aggregate purchase price of CDN$1,920,000. Each unit consists of one common share of Galantas (a "Common Share") and one common share purchase warrant (a "Warrant") of Galantas. Each Warrant is exercisable into one common share of Galantas for a period of 12 months from July 24, 2015 at an exercise price of CDN$0.16.

The Common Shares purchased represent approximately 14.9% of the total number of issued and outstanding common shares of Galantas. If all of the Warrants were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 26.0% of the issued and outstanding common shares of Galantas.

Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Galantas for investment purposes.