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Galleon Gold Gets Approval to get Conversion associated with West Cache Gold Task Mining States Land Rent Status

Galleon Precious metal Corp. (TSXV: GGO) (the Company or even Galleon Gold) provides the subsequent corporate plus project up-date on the West Cache Gold Task (the Task or the Property), Timmins Ontario. West Cache Gold Task Granted Property Lease Standing The Company is extremely pleased to document that the study plan for switching the Western Cache Precious metal Project exploration claims to property lease standing (Lease) continues to be approved by the particular Ministry associated with Northern Growth and Mines and is becoming submitted towards the Land Registry Office with regard to filing. It is really an important part of the development of the Task. A Rent grants the owner name and possession to the property and allows the taking out and sale for extracted assets. The Company are now able to proceed along with applications intended for permits in order to commence the bulk example and arrange for mine growth, including facilities development, ramp construction plus ore removal. The Rent expires every single 21 yrs unless it really is renewed. Determine 1 offers an overview of the particular Lease as well as the Projects place in relation to some other mines within the Timmins get away. Comments in the CEO Jesse Russell, Chief executive and TOP DOG of Galleon Gold left a comment, I am incredibly happy to end up being closing away 2021 using the West Cache Project being qualified for Rent status. Whilst our drill down results have now been the stars of the show, the task undertaken on the conversion of the mining claims to a Lease was a significant endeavour and can be an important milestone for us. Recently has been an exciting time for Galleon Gold. We completed 22, 000 meters of drilling on the West Cache Gold Project and were very successful in advancing the Projects resource and identifying new mineralized areas that hold great promise for future drill programs. Importantly, the basics of the Project remain unchanged; we have been located in a premiere gold camp and mining jurisdiction and have increased the Projects combined gold resource. Since Galleon Gold took custody of the Project 24 months ago, our objective has visited complete the task required to give you the market with the Projects first economic valuation in a Preliminary Economic Study (PEA). As we close in on that goal, we continue steadily to advance our baseline studies, consult with all stakeholders and plan a bulk sample. We are looking towards 2022 and expect it to be a pivotal year for the Company In my opinion we have laid the groundwork to just take the West Cache Project forward on a responsible and expedited path. Analysis 2021 Achievements Drilling Results The Company completed its 46, 300-meter drill program (2020-2021) at the West Cache Gold Project mid-2021 and contains since been working toward the Projects first Preliminary Economic Assessment. Figure 2 provides a Plan Map indicating the area of drill-defined mineralization and location of drill holes on the Property. A few of the 2021 drilling highlights include: Effectively infilled the known mineralization in the East and West Pit areas Traced the near surface expression of Zone no. 9 mineralization from the bedrock interface to over 325 meters in vertical depth WC-20-080intersected8. 25g/t Au over 9. 0mfrom 190 to 199m WC-20-081intersected8. 68g/t Au over 10. 0mfrom 276 to 286m WC-20-082intersected9. 40g/t Au over 10. 0mfrom 310 to 320m WC-20-097intersected7. 66g/t Au over 10. 0mfrom 224 to 234m WC-21-115intersected11. 25g/t Au over 6. 0mfrom 75 to 81m Extended the eastern flank of the East Pit mineralization an additional 350 meters along strike Discovered the South Area with multiple gold zones highlighting the immense potential for the southern part of the property which includes not been drill tested Metallurgical Testing A comprehensive metallurgical study on Zone no. 9 mineralized material yielded outstanding results. All three processing paths indicate strong gold extractions is possible on all the low (1. 77g/t), mid (5. 10g/t) and high (21. 9g/t) grade portions of the recently identified Zone number 9 gold mineralization. Highlights using this work, include: Whole Ore Leach: Gold Extraction which range from 83% to 97% according to grind size and composite feed grade Gravity Whole Ore Leach: Gold Extraction of 95% to 97% Gravity Flotation Concentrate Leach: Gold Extraction of up to 97% Updated Mineral Resource Estimate The Company published a NI 43-101 Technical Report for the West Cache Gold Project on October 22, 2021. The updated mineral resource estimate increased the historical resource by 20% (see press announcements dated September 8 and October 22, 2021). The organization expects the resource to develop with additional data contained in new modelling for the PEA study that is increasingly being finalized. Preliminary Economic Assessment Update The organization initiated the initial Preliminary Economic Assessment (PEA) for the Project having an initial assay cut-off date in June 2021. Subsequently, additional drill hole and assay data has been included pushing the final data cut-off to the early fourth quarter 2021. The extended cut-off data date allowed key brings about be included and expand the resource modelling exercise for additional gold ounce inclusion also to complete trade off scenario studies between an all-underground mine versus an open pit & underground mine. In addition , mine design scenarios of constructing a borehole hoist versus trucking for transporting the underground ore to surface has been analyzed and costing for toll milling versus constructing a new mill on site are underway. The Company expects the PEA results to prepare yourself in January 2022. Figure 3 supplies a cross sectional view looking east of the mineralized gold zones and highlights a portion of Zone 9 currently targeted for a bulk sample and initial mine development. Technical Content and Qualified Persons The technical content of this news release has been reviewed and approved by West Cache Gold Project Manager Leah Page, P. Geo. (APGNS #217) and West Cache Gold Resource Geologist, Rochelle Collins, P. Geo (PGO #1412), both Qualified Persons as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects. About Galleon Gold Galleon Gold is a United states exploration and development company. Eric Sprott holds approximately 23% of the Companys outstanding common shares and it is the Companys partner on the Neal Gold Project in Idaho. A Preliminary Economic Assessment

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