Galantas Gold (GAL) investor relations material

Strategic shift and asset overview

• Pivoting focus from Northern Ireland to Chile, highlighting the acquisition of the Andacollo project, expected to close by end of June 2026 after a shareholder vote.

• Andacollo Gold features 1.5 million oz indicated and 4.5 million oz inferred gold, with significant exploration upside and a long operating history.

• Current valuation is considered low at $35/oz, with potential for re-rating as production nears and resources are expanded.

• The project is adjacent to Teck’s Carmen de Andacollo mine, forming part of a larger porphyry system with over 1 billion tons combined resources.

• Both deposits remain open at depth, offering further exploration potential.

Development plans and financing

• Targeting production restart at Andacollo by late 2026 or early 2027, requiring an estimated CAD 60 million, primarily sought through debt financing backed by existing gold inventory.

• Only major equipment needed is a crushing plant, with options identified for acquisition.

• Plans to recommence cyanide leaching to recover gold from existing pads, leveraging historical recovery rates of 70%-76% for oxides.

• Exploration drilling ongoing, with results expected by early June, aiming to expand the resource base.

• Short-term ore processing to be done via direct shipping to ENAMI or a small mill in Copiapó, with long-term plans for an on-site plant.

Resource potential and operational outlook

• Andacollo resource stands at 6 million oz gold (1.5 million indicated, 4.5 million inferred), with potential to double through deeper drilling and pit expansion.

• Additional copper porphyry potential identified, with historical drill results showing promising grades.

• Combined gold production target of 50,000–70,000 oz in the first year, ramping to 70,000–90,000 oz per annum, with infrastructure to support up to 200,000 oz in the future.

• All-in sustaining costs estimated at CAD 1,500–1,900/oz during ramp-up, stabilizing at CAD 1,500/oz at full scale.

• Multi-asset strategy in Chile seen as de-risking, with both assets expected to be cash-flow positive within six months of closing.