Galleon Gold Receives Closure Plan Approval for West Cache Gold Project

Bulk Sample Program to Deliver Pre-feasibility Data and Derisk Mine Development

Toronto, April 9, 2025 - Galleon Gold Corp. (TSXV: GGO) (FSE: 3H90) (the "Company" or "Galleon Gold") is pleased to announce a major advancement in the development of its 100%-owned West Cache Project in Timmins, Ontario ("West Cache" or the "Project"). The Company has received formal approval from Ontario's Ministry of Energy and Mines to proceed with an advanced exploration bulk sample program at the Project. The approval of the closure plan ("Closure Plan") is a key step in unlocking the full potential of this promising gold asset.

David Russell, President and CEO of Galleon Gold commented, "We are very pleased to have reached this important milestone for the West Cache Project. This approval is a testament to the tremendous effort from our team and the experts at the Ministry of Energy and Mines. We are grateful for the continued support of our local Indigenous communities, the town of Timmins and the Ontario government. With this approval in hand, we are now poised to advance surface work and begin pre-development activities. We look forward to providing updates accordingly."

Closure Plan Approval - Key Step for West Cache

On April 9, 2025, the Company received confirmation that Ontario's Ministry of Energy and Mines has accepted and filed the Closure Plan for the West Cache Project. This approval allows the Company to initiate an advanced exploration program that includes the extraction of an 86,500-tonne bulk sample. The bulk sample is expected to grade 8.13 g/t gold and to contain an estimated 22,600 ounces of gold (before recoveries).

The data obtained from this underground exploration, including drilling, mining methods, and mill processing, will be integral for pre-feasibility studies and will play a key role in derisking the Project's progression toward future mine development.

The Closure Plan is a comprehensive document covering project construction, mining plans, baseline characterization studies, rehabilitation and reclamation plans, and site monitoring programs to be implemented throughout advanced exploration activities and after closure.

Looking Ahead

With the bulk sample approval, Galleon Gold is now positioned to begin site preparation, surface work and pre-development activities at the Project. The Company will be providing updates as work progresses throughout the bulk sample program.

Technical Content and Qualified Person

The technical content of this news release has been reviewed and approved by West Cache Gold Project Manager Leah Page, P. Geo. (GNS #217) a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

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. The Company's Closure Plan for an 86,500-tonne underground bulk sample has been accepted and initial work at the Project site will commence accordingly.

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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/247909