Galantas Gold Corporation (the Company), which has a 100% interest in Ireland’s only gold mine, has received consent from the TSX Venture Exchange in regard to the issue of Company shares for debt, on terms previously disclosed on 30th December 2008. The creditor, who supplied drilling services, has exchanged £78,355 of debt for 3,134,200 units. Each unit comprises one share and one warrant, such warrant being exercisable for one year at a price of UK Sterling £0.05.

The shares exchanged for debt are subject to a four month hold period in Ontario, Canada, which will expire May 15th, 2009. An application will be made to admit shares issued under the placing to trading on London’s AIM on the same day that they become free trading on the TSX Venture Exchange.

Galantas Gold Corporation Issued and Outstanding Shares following the shares for debt exchange total 190,100,055.

Galantas Gold Corporation announces a move of its Toronto Corporate and Registered Office with immediate effect to :-

50 Richmond Street East, Suite 101, Toronto, Ontario, M5C 1N7 Canada.

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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