Trading Statement

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

Galantas announces progress towards  production and commencement of  concentrate
payments from Falconbridge.

20th April 2007

Galantas  Gold  Corporation  (the "Company"),  which  has  a  100%  interest  in
Ireland's  only  gold  mine,  today announced continued  progress  towards  full
production at its Omagh Mine.

The processing plant has been producing concentrate during the first quarter  of
2007  on  a  slow  and  irregular basis (as anticipated in press  release  dated
January 8th 2007). Initial training of operating personnel is complete to enable
staffing the plant for 96 hours per week. Plant improvements have been made, the
latest  of  these  in the week ending 14th April 2007. Initial  testing  of  the
modifications indicate that the flotation part of plant is operating as expected
but  the  comminution  section remains below expectation.  Further  changes  are
underway.  GBM Minerals Engineering Consultants have been engaged to  work  with
the project team.

Most  of  the on-site environmental and production testing laboratory  has  been
commissioned.  In  accordance with Canadian securities regulations,  drill  core
assays will continue to be measured by an independent laboratory.

Three  containers  with  a  total of 60 (wet) tonnes of  concentrate  have  been
shipped  to  Falconbridge Ltd (a subsidiary of Xstrata plc)  and  payments  from
Falconbridge under the contract announced on February 14th 2007 have  commenced.
A fourth container of concentrate has been produced to be used to supply gold to
the jewellery marketing subsidiary of Galantas.

Discussions are well advanced with Goldsmiths Group plc with a view to  Galantas
branded, certified Irish gold, 18 carat jewellery being available within certain
UK stores. The Goldsmiths Group is a high-quality jewellery retailer, which owns
the Mappin & Webb chain amongst a total of 187 prestige jewellery stores.

Definition drilling continues on the Kearney vein. A second drill rig  has  been
mobilized  and  has  resumed operations on the Elkins  discovery.  A  number  of
mineralized  intersections are pending sampling and  assaying.  Drill  hole  and
interpretive  geological plans for the Elkins discovery have been  prepared  and
will  be posted on the Company's website www.galantas.com and on  www.sedar.com.
Maurice Lavigne P.Geo is the qualified person responsible for the interpretation
and drill hole and anomaly plan.

A  small quantity of cloudy water, resulting from insufficiently settled  pumped
water,  was mistakenly discharged from the site on 27th January 2007, through  a
temporary  settling arrangement. The water contained a small  quantity  of  fine
natural  silt  in  suspension.  No  process  water  was  involved.  Although  no
environmental  damage  was  done, the Company has  reported  to  the  regulating
agency. Internal controls have been reviewed and strengthened.

The  date  for the Annual General Meeting has been fixed as June 15th  2007,  in
Toronto at a venue to be determined. The record date of notice is May 11th 2007,
which is also the record date for voting.

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.
This  press  release  includes certain "Forward-Looking Statements"  within  the
meaning  of  the US Private Securities Reform Act of 1995. Other than statements
of  historical fact, all statements such as those referring (but not limited) to
specific   drilling,   production  or  construction   activity   or   geological
interpretations are "Forward-Looking Statements" that involve such various known
and  unknown  risks, uncertainties and other factors. There can be no  assurance
that such statements will prove accurate. Results and future events could differ
materially  from  those anticipated in such statements. Readers  of  this  press
release  are  cautioned  not to place undue reliance on  these  "Forward-Looking
Statements".

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