Drilling Report

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

14 June 2007

             GALANTAS CONFIRMS CONTINUITY OF KEARNEY AND ELKIN VEINS

Galantas  Gold Corporation (the Company), which has a 100% interest in Ireland's
only  gold mine, today announced results from ongoing core drilling. To date  36
holes  have been completed in the current program, with total drilling of  3,518
meters.

Drill  holes OM-DD-07-17 and OM-DD-07-18, located in the central portion of  the
850   metres  long  Kearney  Vein,  intersected  mineralization  at  depths   of
approximately 90 and 95 metres respectively. Hole 17 had numerous  gold  bearing
intervals from 119 to 154 metres down hole, including a 0.31 metres intersection
assaying  14.12 grams per tonne gold. Hole 17 was drilled in the  same  vertical
section  as holes 15 and 16 reported on May 1st, 2007. Hole 18 also had multiple
gold bearing intercepts from 86 meters to 125 meters down hole.

Holes  21 and 23 are part of a six hole program that has been completed  at  the
Elkin  Zone following six holes drilled in 2006. The Elkins Zone is a multi-vein
system  discovered  by Rio Tinto in the 1980's by drilling coincident  soil  and
Induced  Polarization anomalies. Holes 21 and 23 are infill  holes  at  25-metre
spacing. Hole 20 overshot the target and will be re-drilled. Holes 25, 27 and 29
testing on-strike and down-dip extensions are being sampled.

   KEARNEY VEIN - CORE DRILLING RESULTS, June, 2007

 Hole ID       From       To    Width*    Grade       Grade       Grade
                (m)      (m)     (m)   (g/t gold) (g/t silver)  (% Lead)

OM-DD-07-17    54.58    54.84    0.26     4.27         <5         <.01
        And   119.21   120.10    0.89     7.73      14.25         1.21
  Including   119.53   119.84    0.31    14.12         35         3.39
        And   133.60   133.76    0.16     7.64         10         0.02
        And   153.51   153.74    0.23     4.98         14         0.07

OM-DD-07-18    86.30    86.65    0.35     3.35         <5         0.02
        And   104.22   104.72    0.50     3.01       2.97         0.48
        And   123.50   125.55    2.05     3.47       7.42         0.74
  Including   124.80   125.00    0.20    10.96         32         2.55


   ELKINS ZONE - CORE DRILLING RESULTS, June, 2007

 Hole ID       From       To    Width*    Grade     Grade       Grade
                (m)      (m)     (m)   (g/t gold)(g/t silver) (% Lead)

OM-DD-07-21    15.05    18.35    3.30     4.09       0.65         0.13
  Including    17.99    18.35    0.36    10.80       5.95         0.11

OM-DD-07-23    22.16    22.33    0.17     2.44         <5         0.01
        and    34.05    34.81    0.76    10.82      21.09         0.58
  including    34.05    34.38    0.33    13.20      17.16         0.12

*The  angle  between  the  vein and the drill hole is greater  than  75  degrees
therefore drilled width approximates true width.

The samples were taken by geological staff under the supervision of M.J. Lavigne
P.Geo,  (Vice  President,  Galantas Gold Corp), the  Qualified  Person  for  the
program.   Sampling  methodology,  security  &  verification  followed  standard
procedures  previously detailed on April 5th 2006 and the samples were  analysed
(gold  by  fire  assay and other metals by ICP-ORE) at OMAC Laboratory  Ltd  (an
independent, certified CCRMP & ISO 17025 laboratory) in Galway, Ireland.

Galantas Gold Corporation Issued and Outstanding Shares total 167,535,855.

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
Maurice Lavigne P.Geo - Vice President

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

ARM Corporate Finance Limited            Telephone:  [phone]
Nick Harriss

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