Strategic Land Purchase

RNS Number : 0284W

Galantas Gold Corporation

24 January 2012

 



GALANTAS GOLD CORPORATION

TSXV and AIM:  Stock Symbol - 'GAL'

GALANTAS ANNOUNCES STRATEGIC LAND PURCHASE

Date : 24^th January 2012.  Galantas Gold Corporation (the 'Company'), the AIM and TSXV quoted producer/developer/explorer with a 100% interest in Ireland's only operating gold mine, has purchased through its wholly owned subsidiary, Omagh Minerals Limited, a strategic parcel of land near Omagh, County Tyrone, Northern Ireland.

The freehold land parcel is contiguous with the mine and lies to the north-west of the existing land holding. It comprises an area of approximately 52 acres and was purchased for £247,000. Part of the land overlies the Joshua Vein discovery, for which drilling results were recently detailed in the formal announcement of 12^th January 2012.

Roland Phelps (President and CEO, Galantas Gold Corporation) commented, "This land purchase secures surface rights over the recently discovered northern extension to Joshua Vein and has been financed from cash generated from operations. I am very pleased that the Company managed to acquire the land as I expect it to be an important asset for the future."

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

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.

Enquiries

Galantas Gold Corporation
Jack Gunter P.Eng - Chairman                                                    Investor Relations Consultant
Roland Phelps C.Eng - President & CEO                                 Courtenay Heading (Maclir Consulting Ltd)
Email: [e-mail]                                                           Email : [e-mail]
Website: www.galantas.com                                                     Telephone : (UK) [phone]
Telephone: [phone]

Religare Capital Markets (AIM Nominated Adviser)
Telephone: [phone] Phil Davies

Beaufort International Associates Ltd
Telephone: [phone] Barry Gibb/Saif Janjua (Corporate Finance)

Kenneth Pio D'Mello (Corporate Broking)

 

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