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Award of Incentive Stock Options

Friday 9th September 2011

Galantas Gold Corporation, (the Company) a gold mine producer and explorer in Northern Ireland, reports that it has awarded 4,200,000 incentive stock options on the Company’s common shares to Directors, officers , consultants and key employees, in accordance with the terms of the Company’s incentive Stock Option Plan. The exercise price for the options, which expire on September 6th, 2016 is 10 cents Canadian per share. These options will vest as to one third immediately, one third on September 6th , 2012 and the remaining third on September 6th , 2013.

The individual awards to Directors are :-

Roland Phelps Director, President and CEO 1,000,000 options
Jack Gunter Director and Chairman 500,000 options
James Golla Director 250,000 options
James Clancy Director 250,000 options
Ronald Alexander Director 250,000 options
Norman Brewster Director 250,000 options

The total number of incentive stock options awarded under the scheme to Directors, officers, consultants and key employees stand at 15,750,000, with exercise prices of between 10 cents and 23 cents Canadian per share.

This disclosure has been authorised by Roland Phelps (President & CEO) Galantas Gold Corporation.

Galantas Gold Corporation Issued and Outstanding Shares total 235,650,055

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Share Price

TSX-V (CDN $): 0.09

AIM (£ p): 4.875

Gold Price (oz)

USD : 1,272.50

GBP : 960.99

The figures presented here are for informational purposes of current trends only and should not be considered an exact count

This page and other parts of the website contain statements relating to the intentions of the management to develop mine production and jewellery production. Such statements are forward looking and readers are cautioned that these statements are subject to risk and uncertainties as further detailed in quarterly Management Discussion and Analysis published on www.sedar.com

Approved for website uploading : R.Phelps