Trading Statement

Galantas Gold Corporation
01 May 2008

                           GALANTAS GOLD CORPORATION

                           TSX Venture Exchange: GAL

                         London Stock Exchange AIM: GAL

                               Trading Statement

Dated: 01 May 2008

Galantas Gold Corporation ('Galantas' or the 'Company') has announced audited
results for the year ending 2007.

Total Revenue for the year was C$654,142 and produced a net Loss of C$2,165,656
after tax.   Shipments of gold concentrate were reduced in the fourth quarter
due to a shortage of ore and a scheme was put in place to make more ore
accessible. Cash flow in the quarter was also reduced by the shipment of three
containers of gold concentrate to a specialist refiner for the production of
certified Irish gold jewellery metal.

The results for the full year are summarised as follows :-

Gold Concentrate Sales* :                       C$ 619,434

Total Sales :                                   C$ 654,142

Cost of Concentrate Sales :                     C$ 862,709

Gross Margin Loss **(concentrate)               C$(243,275)

Production :                                    376.8  (wet tonnes)

*Concentrate sales do not include four containers sent for separate gold
processing to jewellery metal.

**Reflects higher amortization costs

The concentrate produced in the quarter is calculated to contain, using
provisional assays all of which have not yet been agreed with the customer,
approximately 29.6 kgs (950.8 troy ounces) of gold, 69.0 kgs(2,219.0 troy
ounces) of silver and 27.4 tonnes of lead. The metal quantities are provisional
and subject to change.

A number of measures to enhance profitability, described in an Operational
Update of 31st March 2008, have been put in place. These are designed to
increase the amount of ore available from the open pit, reduce the dilution of
ore with adjacent barren country rock, improve mill handling / crushing and
increase the grade of gold concentrate shipped.

Results demonstrated to date in April give management cautious optimism that the
measures described are showing signs of success in the achievement of their
designed objectives, although it will require the results of a full quarter
before a proper appraisal can be made.

The results to date in April indicate that sufficient ore has been available for
parts of the month to run the process plant for prolonged periods at between
approximately 8 and 9 tonnes per hour. The gold grade of ore fed to the mill has
improved and is estimated at between 8 and 9 grammes per tonne (g/t) of gold***.
Concentrate grades are currently on an increasing trend, with recent shipments
estimated to contain gold between 100 and 110 g/t gold***. The greatest hurdle
to maintaining the rate of improvement is considered to be in the area of pit
development and this continues to receive management focus.

***The results are the product of back calculation and include the use of
estimates that, of their nature, contain uncertainties.

The full text of the Management Discussion and Analysis and the Annual Accounts
are to be found on www.sedar.com and www.galantas.com .

The estimation of tonnage, feed grade and concentrate grade has been carried out
under the supervision of Mr. Nicholas Hardie C.Eng FIMMM, General Manager, who
is a qualified person for the purposes of this disclosure. The financial data
has been reviewed by Mr. Brent Routledge CA, Chief Financial Officer, who is a
qualified person for the purposes of this disclosure.

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.


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
production activity or estimates of performance 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

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]


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