Issue of Equity

GALANTAS GOLD CORPORATION
                            TSX Venture Exchange: GAL
                         London Stock Exchange AIM: GAL

              GALANTAS GOLD CORPORATION : DIRECTOR EXERCISES OPTIONS

24 July 2007

Galantas Gold Corporation has received an exercise of options from Maurice J.
Lavigne P.Geo, Director and Vice-President. Options over 500,000 shares have
been exercised at a price of $0.10.  As a result Mr. Lavigne is now interested
in 2,216,667 common shares in the Company, representing 1.32% of the issued
share capital.

Application has been made for the new ordinary shares to be admitted to trading
on AIM on 30 July 2007.

The number of Galantas Gold Corporation Issued and Outstanding Shares following
the exercise total 168,035,855.

The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of the contents of this news release.

Enquiries

Galantas Gold Corporation                    Telephone:  [phone]
Jack Gunter P.Eng - Executive Chairman
Roland Phelps C.Eng - President & CEO

Email: [e-mail]
Website: www.galantas.com

ARM Corporate Finance Limited                Telephone:  [phone]
Nick Harriss

Lewis Charles Securities Limited.            Telephone:  [phone]
Kealan Doyle