Galantas Gold Corporation (TSX VENTURE:GAL) (AIM:GAL) is pleased to announce a
summary of an updated resource estimate relating to its wholly owned,
operational, gold project at Omagh, County Tyrone, Northern Ireland.


The resource estimate is based on drilling results received up to 5th May 2013.
The following table summarises the block model estimate and compares it to the
previous estimate by ACA Howe, which was based on drilling results up to 8th
June 2012 :




                           ACA Howe 2012 report       Galantas 2013 report  
                        Drilling to 8th June 2012   Drilling to 5thMay 2013 
MINERALISED  RESOURCE   CUT-OFF 2.5 g/t Au (gold)  CUT-OFF 2.5 g/t Au (gold)
ZONE         CATEGORY               Grade                      Grade        
                           TONNES (Au g/t) Au ozs     TONNES (Au g/t) Au ozs
KEARNEY      MEASURED           0       0       0     55,896    6.09  10,941
KEARNEY      INDICATED    270,900    7.94  69,000    327,542    6.56  69,057
KEARNEY      INFERRED     490,000    8.54 135,000    831,860    6.16 164,651
JOSHUA       MEASURED      13,000    6.48   2,800     59,002    4.92   9,331
JOSHUA       INDICATED     66,800    6.27  13,000    250,140    5.32  42,804
JOSHUA       INFERRED     173,000    8.48  47,000    395,886    6.45  82,148
ELKINS       INDICATED     68,500    4.24   9,000     68,500    4.24   9,000
ELKINS       INFERRED      20,000    5.84   3,800     20,000    5.84   3,800
KERR         MEASURED       2,250    6.75     500      2,250    6.75     500
KERR         INDICATED      5,400    5.03     900      5,400    5.03     900
KERR         INFERRED      26,000    4.58   4,000     26,000    4.58   4,000
GORMLEYS     INFERRED      75,000    8.78  21,000     75,000    8.78  21,000
GARRY'S      INFERRED           0    0.00       0          0    0.00       0
PRINCES      INFERRED      10,000   38.11  13,000     10,000   38.11  13,000
SAMMY'S      INFERRED      27,000    6.07   5,000     27,000    6.07   5,000
KEARNEY      INFERRED      18,000    3.47   2,000     18,000    3.47   2,000
 NORTH                                                                      
                                                                            
TOTALS       MEASURED      15,250    6.52   3,300     77,919    5.87  20,772
             INDICATED    411,600    7.01  92,000    651,582    5.85 121,761
             INFERRED     839,000    8.53 231,000  1,403,746    6.54 295,599
Note: Rounded numbers, gold grades capped at 75g/t. Cut-off grade of 2.5g/t 
Au & a minimum mining width of 0.9 metres. Mineral resources that are not   
mineral reserves do not have demonstrated economic viability.               



The drilling program, subsequent to June 2012, was targeted to increase the
amount of Measured and Indicated Resources, to increase the confidence of loan
finance providers, related to the potential development of an underground mine.
The drilling target was achieved. There has been an overall increase in
Resources classified as Measured and Indicated from a total of 95,300 troy
ounces gold (2012) to 142,533 troy ounces gold (an increase of 50%) and a 28%
increase in Resources classified as Inferred, from 231,000 troy ounces gold
(2012) to 295,599 troy ounces gold (2013). The overall increase is 34%. The
unaudited, estimated cost of the drilling program (subsequent to 8th June 2012)
was approximately GBP 927,000.


The database used in the 2013 resource estimate contains results from 299
surface diamond drill holes and 540 channels. Sampling methodology, security &
verification followed standard procedures previously detailed on April 5th 2006
and the samples were analysed (gold by fire assay with atomic absorption finish
and other metals by ICP-ORE) at OMAC Laboratory Ltd (now ALS Minerals Division),
an independent, ISO 17025 laboratory, of Galway, Ireland. The core drilling
methodology was that as described on 15th September 2011.


The Company intends to file a complete Technical Report on SEDAR within 45 days
of this release, as required by NI 43-101.


Roland Phelps, President & CEO, Galantas Gold Corporation commented, "The 2013
Resource Estimate is an important milestone in the development of an underground
gold mine on our Omagh site. A revised economic study can now be initiated and
loan finance discussions will continue when that is complete. Planning permits
continue to progress, with final additional information now being prepared for
consultation."


Roland Phelps, B.Sc., C.Eng, MIMMM, President & CEO, Galantas Gold Corporation
is the Qualified Person (QP) for the NI.43-101 Report on the Resource Estimate
of the Omagh Gold Deposit (2013). Data collection procedures and the preparation
of the resource estimate has been carried out under his supervision and he has
reviewed and approved the contents of this press release. The QP is not
independent of the Company. The financial component of this disclosure has been
reviewed by Leo O' Shaughnessy (Chief Financial Officer, Galantas Gold
Corporation) and is based upon local financial data prepared under his
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 drilling intersections and analyses, 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 geological interpretation,
historical trends, current conditions and expected future developments, as well
as other factors that Galantas believes are appropriate in 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, including: gold price volatility; discrepancies between
actual and estimated production, actual and estimated metal grades and
geologically interpreted widths, actual and estimated metallurgical recoveries;
actual and estimated costs; 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's 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 press release, except as required by law.


Galantas Gold Corporation Issued and Outstanding Shares total 256,210,395.

FOR FURTHER INFORMATION PLEASE CONTACT: 
Galantas Gold Corporation
Jack Gunter P.Eng
Chairman
+44 (0) 2882 241100


Galantas Gold Corporation
Roland Phelps C.Eng
President & CEO
+44 (0) 2882 241100
info@galantas.com
www.galantas.com


Investor Relations :
Courtenay Heading (Maclir Consulting Ltd)
(UK) +44 (0) 7624 424 455
c.heading@galantas.com


Charles Stanley Securities (Nominated Adviser)
Mark Taylor
+44 (0)20 7149 6000

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