Toronto, Ontario--(Newsfile Corp. - February 21, 2025) - Galleon Gold Corp. (TSXV: GGO) (FSE: 3H90) (the "Company" or "Galleon Gold") is pleased to inform, that further to its news release dated February 10, 2024, it has now completed its submission of the West Cache Project Closure Plan, along with supporting documentation and the Financial Assurance of $1,390,978 to the Ministry of Mines ("Mines"). Mines has up to 45 days of receipt to accept the Closure Plan for filing.
Option Grant
The Company announces that pursuant to the Company' stock option plan (the "Plan") a total of 1,260,000 stock options have been granted to directors, officers, employees and consultants of the Company. The options are exercisable into one common share of the Company at a price of $0.28, vest immediately and expire on February 21, 2030.
Galleon Gold at the PDAC
Galleon Gold invites investors and shareholders to visit booth #2911 at the Investor Exchange in the South Building at the Metro Toronto Convention Center from March 2 to 5, 2025.
About Galleon Gold
Galleon Gold is an advanced exploration and development company focused on the West Cache Gold Project in Timmins, Ontario. The West Cache Gold Project is located 7 km northeast of Pan American Silver's Timmins West Mine and 14 km southwest of Newmont's Hollinger Mine. A 2022 Preliminary Economic Assessment (PEA) for the Project demonstrates strong economics. The Company's planning for an 86,500-tonne underground bulk sample is well underway; it has recently submitted its Closure Plan and Financial Assurance for the Project.
For further information:
Galleon Gold
R. David Russell
Chairman and CEO
T. (416) 644-0066
info@galleongold.com
www.galleongold.com
Forward-Looking Statements
This news release contains certain "forward looking statements", as defined under applicable Canadian securities laws, that reflect the current views and/or expectations of Galleon Gold with respect to its long-term strategy, proposed work, plans, bulk sample program and other reports including the PEA for its projects. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which Galleon Gold operates. Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Galleon Gold are forward-looking statements that involve various risks. The following are important factors that could cause Galleon Gold's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions and uncertainty of access to additional capital, risks inherent in mineral exploration, delays in the receipt of government approvals, risks associated with development, construction, mining operations and third party contractor activities, risks related to unanticipated events related to health, safety and environmental matters. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Galleon Gold undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241914
SOURCE: Galleon Gold Corp.
