| | October 6th, 2008 - Galantas Gold Corporation (‘Galantas’ or the ‘Company’) (GAL – TSXV, GAL-AIM), which has a 100% interest in Ireland’s only gold mine, advises that in connection with the press release issued on October 2nd, 2008 that the exercise price referenced for the awarding of one million incentive stock options to Mr. O’Shaughnessy, newly appointed Chief Financial Officer, pursuant to policies of the TSX Venture Exchange, should have been Cdn.$0.10 per share and not at Cdn.$0.05 as previously announced. The options are exercisable until October 2, 2013 pursuant to the Company’s incentive Stock Option Plan.
Galantas’s operational open pit mine is situated near Omagh, County Tyrone, Northern Ireland. The mine produces a flotation concentrate containing gold, silver and lead, which is exported and sold to a Canadian smelter. Some gold from the mine is down-streamed into certified Irish gold jewellery which is sold on-line at www.galantas.com and via leading UK & Irish retailers.
Galantas Gold Corporation Issued and Outstanding Shares total 175,675,855.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
Enquiries
Galantas Gold Corporation
Jack Gunter P.Eng – Chairman
Roland Phelps C.Eng – President & CEO
Email: info@galantas.com
Website: www.galantas.com
Telephone: +44 (0) 2882 241100
Blomfield Corporate Finance Ltd
Nick Harriss
Telephone: +44 (0) 207 489 4500
Lewis Charles Securities Limited.
Kealan Doyle
Telephone: +44 (0) 207 456 9100
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