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Galantas Announces Strategic Land Purchase

24th January 2012

GALANTAS GOLD CORPORATION

TSXV and AIM:  Stock Symbol – ’GAL’

 

GALANTAS ANNOUNCES STRATEGIC LAND PURCHASE

Date : 24th January 2012.  Galantas Gold Corporation (the ‘Company’), the AIM and TSXV quoted producer/developer/explorer with a 100% interest in Ireland’s only operating gold mine, has purchased through its wholly owned subsidiary, Omagh Minerals Limited, a strategic parcel of land near Omagh, County Tyrone, Northern Ireland.

The freehold land parcel is contiguous with the mine and lies to the north-west of the existing land holding. It comprises an area of approximately 52 acres and was purchased for £247,000. Part of the land overlies the Joshua Vein discovery, for which drilling results were recently detailed in the formal announcement of 12th January 2012.

Roland Phelps (President and CEO, Galantas Gold Corporation) commented, “This land purchase secures surface rights over the recently discovered northern extension to Joshua Vein and has been financed from cash generated from operations. I am very pleased that the Company managed to acquire the land as I expect it to be an important asset for the future.”

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.

 

Enquiries

Galantas Gold Corporation
Jack Gunter P.Eng – Chairman                                                    Investor Relations Consultant
Roland Phelps C.Eng – President & CEO                                                 Courtenay Heading (Maclir Consulting Ltd)
Email: info@galantas.com                                                            Email : c.heading@Galantas.com
Website: www.galantas.com                                                      Telephone : (UK) +44 (0) 7624 424 455
Telephone: +44 (0) 2882 241100

 

Religare Capital Markets (AIM Nominated Adviser)
Telephone: +44 (0) 20 7444 0800 Phil Davies

 

Beaufort International Associates Ltd
Telephone: +44 (0) 20 7930 8222 Barry Gibb/Saif Janjua (Corporate Finance)

Kenneth Pio D'Mello (Corporate Broking)

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