Galantas Gold Corporation

Management Reports • Mar 13, 2017

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RNS Number : 1761Z

Galantas Gold Corporation

13 March 2017

GALANTAS GOLD CORPORATION

TSXV and AIM:  Stock Symbol - 'GAL'

GALANTAS COMMENCES UNDERGROUND DEVELOPMENT AT OMAGH GOLD MINE

13th March 2017 : Galantas Gold Corporation (the Company) is pleased to announce that underground development has commenced on the Omagh gold property, County Tyrone, Northern Ireland.

The initial works are for the formation of a portal (initial tunnel entry area) in the western side wall at the base of the Kearney open pit. When the portal works are complete, the underground development will continue in order to access ore beneath a crown pillar retained in the base of the open pit. It is expected that ore zones are likely to be reached within 6 months.

The works have commenced using the underground mining equipment purchased last year (reported 9th August 2016) by the Company's Northern Ireland operating subsidiary.

Roland Phelps, President & CEO, Galantas Gold Corporation said, "This is an important milestone in the development of the Omagh underground gold mine. We are pressing ahead with mine development, in accordance with our planning permission. We await a judgement on the judicial review of that permission, for which no date has yet been advised to us.

So far, we have boosted our local workforce to 17, including some former colleagues, who were previously laid off during planning delays."

Neither TSX Venture Exchange nor 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.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Enquiries : Galantas Gold Corporation

L. Jack Gunter P.Eng - Chairman,  Roland Phelps C.Eng - President & CEO

Email: [email protected]  Telephone: (UK) +44 (0) 2882 241100

Website: www.galantas.com 

Grant Thornton UK LLP (Nomad)

Philip Secrett, Richard Tonthat: Telephone: +44(0)20 7383 5100

Whitman Howard  Ltd (Broker & Corporate Adviser)

Nick Lovering, Grant Barker: Telephone: +44(0)20 7659 1234

This information is provided by RNS

The company news service from the London Stock Exchange

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