Pricing of Grant of Options

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

                                                                6th October 2008
                           PRICING OF GRANT OF OPTIONS

October 6th, 2008 - Galantas Gold Corporation (`Galantas' or the `Company') (GAL
- TSXV, GAL-AIM), which has a 100% interest in Ireland's only gold mine, advises
that  in connection with the press release issued on October 2nd, 2008 that  the
exercise  price  referenced  for the awarding of  one  million  incentive  stock
options  to Mr. O'Shaughnessy, newly appointed Chief Financial Officer, pursuant
to  policies of the TSX Venture Exchange, should have been Cdn.$0.10  per  share
and  not at Cdn.$0.05 as previously announced. The options are exercisable until
October 2, 2013 pursuant to the Company's incentive Stock Option Plan.

Galantas's  operational  open pit mine is situated near  Omagh,  County  Tyrone,
Northern  Ireland.  The mine produces a flotation concentrate  containing  gold,
silver  and  lead, which is exported and sold to a Canadian smelter.  Some  gold
from the mine is down-streamed into certified Irish gold jewellery which is sold
on-line at www.galantas.com and via leading UK & Irish retailers.

Galantas Gold Corporation Issued and Outstanding Shares total 175,675,855.

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
Jack Gunter P.Eng - Chairman
Roland Phelps C.Eng - President and CEO
Email : [e-mail]
Website : www.galantas.com
Telephone : [phone]

Blomfield Corporate Finance Limited
Nick Harriss
Telephone : [phone]

Lewis Charles Securities Limited
Kealan Doyle
Telephone : [phone]