TORONTO, ONTARIO -- (Marketwire) -- 03/06/13 -- Galantas Gold Corporation (TSX VENTURE: GAL)(AIM: GAL) (the 'Company'), the AIM and TSXV quoted gold producer and explorer with a 100% interest in Ireland's only operating gold mine, has received geochemical soil sampling and geophysical data regarding four mineral prospecting licenses, totalling 160.7 sq. kms, in the Republic Of Ireland. The four licenses are held by Galantas subsidiary, Omagh Minerals Ltd.
The data reveals the continuation of a trend established on adjoining licenses held by Omagh Minerals Ltd in Northern Ireland, with anomalously high concentrations of gold pathfinder elements, Arsenic and Antimony and other associated elements, Lead and Sulphur. The data, which was generated by the Tellus Border Project, has just been released. The project is a cross-border initiative between the Geological Survey of Northern Ireland, the Geological Survey of Ireland, Queen's University Belfast and Dundalk Institute of Technology and funded by the European Union Regional Development Fund. The data, which is still undergoing detailed analysis, will assist in the design of a summer field program, which is expected to take place between June and September 2013.
Roland Phelps, President & CEO Galantas Gold Corporation, said, "The excellent work, funded by the EU, has confirmed a trend reported by us last year (29th March 2012) on the Northern Ireland side of the border and was the reason that we acquired the licenses on trend in the Republic of Ireland. The results so far are very encouraging."
This disclosure has been reviewed by Roland Phelps C.Eng MIOM3, a qualified person under the meaning of NI. 43-101 and AIM Guidance Note for Mining Oil and Gas Companies.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including the discussion of and results pertaining to the Tellus Border Project and interpretations. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Galantas believes are appropriate in the circumstances. Many factors could cause Galantas' actual results, the performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: gold price volatility; discrepancies between actual and estimated production, actual and estimated metal grades and geologically interpreted widths, actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration and exploration interpretations; dilution; competition; loss of key employees; additional funding requirements; planning and other permitting issues; and defective title to mineral claims or property. These factors and others that could affect Galantas's forward-looking statements are discussed in greater detail in the section entitled "Risk Factors" in Galantas' Management Discussion & Analysis of the financial statements of Galantas and elsewhere in documents filed from time to time with the Canadian provincial securities regulators and other regulatory authorities. These factors should be considered carefully, and persons reviewing this press release should not place undue reliance on forward-looking statements. Galantas has no intention and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law.
Galantas Gold Corporation Issued and Outstanding Shares total 256,210,395.
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.
Galantas Gold Corporation
Jack Gunter P.Eng
+44 (0) 2882 241100
Galantas Gold Corporation
Roland Phelps C.Eng
President & CEO
+44 (0) 2882 241100
Courtenay Heading (Maclir Consulting Ltd)
(UK) +44 (0) 7624 424 455
Charles Stanley Securities (Nominated Adviser)
+44 (0)20 7149 6000
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