Trading Update

GALANTAS GOLD CORPORATION
                       TSXV and AIM:  Stock Symbol - "GAL"


           TRADING UPDATE : SECOND VEIN (KERR VEIN) EXPOSED FOR MINING

January  19th,  2010  :  Galantas Gold Corporation (the  Company)  has  received
provisional  production  statistics  for the  fourth  quarter  (October  through
December)  of  2009  from  its wholly owned subsidiary, Omagh  Minerals  Limited
(OML).   OML  operates  the only gold mine in Ireland producing  and  selling  a
flotation concentrate containing gold, silver and lead.

October's  shipments were 181.3 wet tonnes of concentrate.  November  saw  185.3
wet  tonnes shipped, with 157 tonnes shipped in December - for a total of  523.6
wet  tonnes  in  the quarter. Production (dry tonnes) in the fourth  quarter  at
504.7  tonnes was 24 % higher than in the fourth quarter of 2008 and 37 % higher
than in the third quarter of 2009.

While  definitive  estimates  of the metal content  of  the  concentrate  awaits
receipt  of  final  and agreed assays, it is anticipated that shipments  in  the
fourth  quarter  contained approximately 48.8 kg (1,570 troy  ounces)  of  gold,
100.6  kg  (3,235 troy ounces) of silver and 61.3 tonnes of lead. The  total  of
invoiced  provisional  concentrate sales for the  period  is  estimated  at  US$
1,266,000.  The production, metal weights and sales figures are provisional  and
subject  to  averaging or umpiring provisions under the terms of the concentrate
off-take contract with Xstrata Corporation as detailed in a press release  dated
3rd  October,  2007.  The financial results for the quarter and audited  results
for  2009  are  expected to be published in the usual timeframe by  the  end  of
April, 2010.

Mining  and  other  earth moving equipment was diverted in  the  first  part  of
October  and in the last operating week of December to till stripping to  extend
the  operating  length  of  the Kearney open pit. The Kerr  Vein  was  partially
exposed  in  December, readying it for mining in January, 2010, when  overburden
stripping  will  continue.  A  shortage  of  working  capital  prevented   these
activities being carried out independently of routine production. Backfilling of
the  southernmost  section of the Kearney pit, which  has  been  worked  to  its
permitted  base, continued in the quarter.  The recent Christmas shut  down  was
utilised  to replace and rotate worn ball mill lining using parts held in  stock
from  the  full  reline  at  Christmas 2008. Heavy  snow  caused  re-supply  and
operational difficulties on start up but the site is now operating normally.

The number of employees on the mine averaged 43 during the period.

The Omagh site suffered heavy rainfall, more than double the average, during the
period.   There was some soil cover washed away from the sound protection  berm,
and OML is  working with the N.I. Environmental Protection Agency to ensure that
there  are  no   adverse environmental consequences.  Tailings  cells  and  site
drainage  infrastructure  proved adequate to cope with the  adverse  conditions.
Consented  polishing  pond  outflow is expected to routine  test  within  normal
permitted limits.

This  disclosure  has been reviewed by Nicholas Hardie C. Eng,   FIMM,  (General
Manager),  a  qualified  person  under  the  meaning  of  N.I.  43-101,  who  is
responsible for the production related technical information in this disclosure.
Leo  O'Shaughnessy is responsible for the financial information. The information
is  based  upon  local  production  and  financial  data  prepared  under  their
supervision.

SPECIAL  NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release  contains
forward-looking  statements  within the meaning of  the  United  States  Private
Securities  Litigation  Reform  Act of 1995 and applicable  Canadian  securities
laws,  including revenues and production estimates, for the Omagh Gold  project.
Forward-looking  statements  are  based on estimates  and  assumptions  made  by
Galantas in light of its experience and perception of historical trends, current
conditions  and  expected future developments, as well  as  other  factors  that
Galantas  believes  are appropriate ini the circumstances.  Many  factors  could
cause  Galantas'  actual  results, the performance  or  achievements  to  differ
materially from those expressed or implied by the forward-looking statements  or
strategy,  including: gold price volatility; discrepancies  between  actual  and
estimated  production;  actual  and estimated metallurgical  recoveries;  mining
operational  risk;  regulatory restrictions including  environmental  regulatory
restrictions  and liability; risks of sovereign involvement; speculative  nature
of  gold  exploration; dilution; competition; loss of key employees;  additional
funding requirements; planning and other permitting issues; and defective  title
to  mineral  claims  or  property. These factors and others  that  could  affect
Galantas'  forward-looking statements are discussed in  greater  detail  in  the
section  entitled, "Risk Factors", in Galantas' Management Discussion & Analysis
of  the  financial statements of Galantas and elsewhere in documents filed  from
time  to  time  with  the Canadian provincial securities  regulators  and  other
regulatory  authorities.   These factors should  be  considered  carefully,  and
persons reviewing this press release should not place undue reliance on forward-
looking  statements.  Galantas has no intention and undertakes no obligation  to
update or revise any forward-looking statements in this pres release, except  as
required by law.

Galantas Gold Corporation Issued and Outstanding Shares total   190,100,055.

Neither TSX Venture Exchange not 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
Roland Phelps C.Eng - President & CEO

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

Blomfield Corporate Finance Ltd
Telephone: [phone]    Nick Harriss

Beaufort International Associates Ltd
Telephone: [phone]  Tanvier Malik