Galleon Gold Extends Gold Mineralization on Eastern Flank at West Cache Task

Galleon Gold Corp.] TSXV- GGO ]( the” Business” or “Galleon Gold” )is delighted to reveal last assay arises from the 2021 East Pit extension drill program at the Business’s 100%owned West Cache Gold Job, Timmins, Ontario. With all assays now total for this location, results continue to validate the easterly extension of numerous gold zones. This details can now be consisted of in the PEA resource design.

Final East Pit Location Extension Drilling Summary:

  • Eastward Extension of East Pit– extra 350 meters of mineralization included on strike
  • East Pit gold system stays available to the east
  • Prospective to include incremental gold resources to the PEA (presently underway)
  • Numerous near surface area intercepts with considerable gold grades, consisting of:

o WC-21-195 with 4.5 m at 1.17 g/t (147 to 151.5 m)


o WC-21-203 with 2.0 m at 3.61 g/t (44 to 46 m) and 5.5 m at 1.13 g/t (1175 to 123 m)


o WC-21-205 with 4.0 m at 2.32 g/t (53 to 57 m) and 5.5 m at 1.51 g/t (116 to 121.5 m)


o WC-21-208 with 6.0 m at 1.75 g/t (455 to 51.5 m)


o WC-21-209 with 4.45 m at 1.23 g/t (3605 to 40.5 m)

  • Drilling validates up-dip forecast of historical much deeper drilling

Keep In Mind from the CEO

David Russell CEO and President of Galleon Gold remarks, “This reported selection of drillholes was developed to construct on what we have actually been describing as the East Pit Extension. This was the 2nd set of holes targeting the eastern margins of our recognized mineralization, and results verify the pattern is open-ended and our pit and underground prospective continues to grow. The most current outcomes offer 350 meters of infill near surface area verification, we have an extra 2.2 km of strike to the East still to check out– similarly essential, East Pit mineralization has actually not been drill evaluated to the west of the Space Location, where 300 meters of strike prospective deals an instant target as part of a 2.3 km forecast to the home line.”

Geologic Summary

East Pit “Extension” geology resembles much of the East Pit location as it represents an eastward extension of the very same rock types, structures, and sulfide zones. A few of the more substantial of these geologic functions, consist of:

  • Several gold zones– some on strike with formerly drilled mineralization in the East Pit (to the west)– others that represent up-dip near surface area extensions from much deeper historical drilling
  • A lithology mainly controlled by volcanic and invasive rocks that define the Bristol Stock location; much of this series has actually traditionally been identified a “quartz feldspar porphyry”
  • Small sediment-dominated systems made up of interbedded wackes and argillite host rocks
  • Basic gold zone sulfide mineralogy including multi-textured pyrite that can happen as bedded bands to remobilized streaks and lenses; small chalcopyrite exists in your area, which is frequently related to greater grade intercepts
  • Distinct “bleached” zones of modified volcanics and intrusives with variable great to coarse grained white mica (sericitic) and/or secondary feldspar connected with mineralized locations; some quartz veining and silicification might exist in your area
  • Green to grey periods controlled by a chlorite-carbonate change design can likewise be related to substantial gold zones

Figures and Tables

Figure 1 is a generalized geologic strategy map of the West Cache Task location. Figure 2 is a geology strategy map concentrated on the East Pit Extension location while Figures 3 and 4 (sample) reveal the near surface area mineralization in relation to much deeper historical intercepts. Close-up pictures of the East Extension mineralization with matching gold grades can be seen in Figure 5. Table 1 includes considerable assay arises from the East Extension location.

Extra Talk About Documented Drillhole Intercepts

Drillhole info kept in mind in this press release are diamond drillholes producing NQ-sized core. These holes are south-directed angle holes with preliminary dispositions of -46 to -50 degrees from horizontal. Many intercepts are near perpendicular to the mineralized zone such that the drilled intercepts typical roughly 90%of the real density of the period. A copy of the assays and drill hole stats from the present drill program is offered and upgraded frequently on the Business’s site.

Certified Individual

The technical material of this release has actually been examined and authorized by West Cache Gold Job Supervisor Leah Page, P. Geo. (APGNS #217), a “Competent Individual” as specified in National Instrument 43-101 -Standards of Disclosure for Mineral Projects.

Quality Control (QA)/ Quality Assurance (QC)

Quality Assurance and Guarantee treatments and procedures are performed to make sure tasting and analysis of all expedition work is carried out in accordance with finest practices. Core produced at the West Cache home is provided to the Business’s Timmins logging center by the drill specialist with all logging, cutting, labeling, and bagging finished under guidance of Certified Geologists. NQ sized core is mainly sawn in half with one half of the core gotten ready for delivery, while the other half is kept for future assay confirmation.

Core samples are carried from the Business’s Timmins logging center to AGAT Laboratories (sample preparation center in Timmins) by AGAT workers. Analysis is finished at AGAT Laboratories in Mississauga, Ontario. Commercially ready licensed recommendation product (CRM) requirements and blanks are placed every 10 samples. Furthermore, samples are picked at a frequency of one for every single 10 samples for replicate analysis of pulp and coarse turn down product. All samples reported have actually been inspected versus Business and Laboratory requirements, replicates, and blanks.

About West Cache Gold Job

The West Cache Gold Task lies 13 km west of Timmins Ontario, and is serviced by Provincial highway 101 and secondary gain access to roadways. It is located along the Porcupine– Destor gold belt, roughly 7 km northeast of Pan American Silver’s Timmins West Mine and 14 km southwest of Newmont’s Hollinger Mine.

About Galleon Gold

Galleon Gold is a North American expedition and advancement business. Eric Sprott holds around 23%of the Business’s exceptional typical shares and is likewise the Business’s partner on the Neal Gold Task in Idaho. An Initial Economic Evaluation is presently underway for the Business’s flagship job, the West Cache Gold Task, situated 13 km from Timmins, Ontario.

For more info:

Galleon Gold

David Russell

Chairman and CEO


(416) 644-0066


info@galleongold.com


www.galleongold.com

Positive Declarations

A few of the declarations consisted of herein might be positive declarations which include understood and unidentified threats and unpredictabilities. Without restriction, declarations relating to prospective mineralization and resources, expedition outcomes, expectations, strategies, and goals of Galleon Gold are positive declarations that include numerous threats. The following are very important aspects that might trigger Galleon Gold’s real outcomes to vary materially from those revealed or suggested by such positive declarations: modifications in the global rate of mineral products, basic market conditions, dangers fundamental in mineral expedition, threats related to advancement, building and mining operations, the unpredictability of future expedition activities and capital, and the unpredictability of access to extra capital. There can be no guarantee that positive declarations will show to be precise as real outcomes and future occasions might vary materially from those prepared for in such declarations. Galleon Gold carries out no responsibility to upgrade such positive declarations if scenarios or management’s quotes or viewpoints must alter. The reader is warned not to put unnecessary dependence on such positive declarations.

Neither the TSX Endeavor Exchange nor its Policy Solutions Service Provider (as that term is specified in policies of the TSX Endeavor Exchange) accepts duty for the adequacy or precision of this release.


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