GALANTAS GOLD CORPORATION
TSXV and AIM: Stock Symbol – “GAL”
CLEAN ENVIRONMENTAL REPORTS ON OMAGH GOLD-MINE
24th June 2013 : Galantas Gold Corporation is pleased to receive from its wholly owned subsidiary, Omagh Minerals Ltd, some additional environmental studies at its Northern Ireland goldmine, located near Omagh, County Tyrone.
The first of these studies prove conclusively that the country rock found at the mine is not acid forming and that some of the rocks are indicated to be potentially acid neutralising. The sampling was carried out by independent, environmental monitoring company Pentland Macdonald Ltd of Belfast. They undertook the collection of a representative set of 100 samples, with analysis taking place at the SGS Minerals Services Ltd laboratory in Cornwall. This extensive study is consistent with the results of earlier studies, which also showed no acid generation potential.
The latest study is particularly important because, at the public enquiry into the A5 road scheme, two Omagh residents made allegations regarding the rock and its use on the A5, which this study and earlier studies prove incorrect. The residents alleged potential environmental impact from acidic drainage and the allegations are specifically proven false by the study.
The study will be sent to Minister Kennedy of the Department for Regional Development, who is responsible for the Road Service Agency, to be available as part of the supporting environmental evidence for the A5 road scheme re-determination.
In a second report, a detailed Northern Ireland Environment Agency (NIEA) water study (June 2013) has declared Galantas subsidiary, Omagh Minerals Ltd, operator of the Omagh gold-mine, fully compliant with its water outlet requirements.
The NIEA study, which is the second one of its type on the gold-mine property with similar results, backs up routine sampling data with more detailed continuously recorded information and also demonstrates that no acidic drainage from the mine takes place.
Roland Phelps, (President and CEO Galantas Gold Corporation) said, “Environmental protection is a core feature of our mining operations at Omagh. The local Omagh team deserve congratulations for again maintaining a clean sheet and good compliance. This has been achieved through employing safe, well designed systems of work and ensuring those are rigorously maintained and monitored. The Omagh team have proven that gold operations and the maintenance of high water quality standards are both consistently achievable. ”
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including drilling intersections and analyses, for the Omagh Gold project. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of geological interpretation, historical trends, current conditions and expected future developments, as well as other factors that Galantas believes are appropriate in the circumstances. Many factors could cause Galantas’ actual results, the performance or achievements to differ materially from those expressed or implied by the forward looking statements , including: gold price volatility; discrepancies between actual and estimated production, actual and estimated metal grades and geologically interpreted widths, actual and estimated metallurgical recoveries; actual and estimated costs; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration; dilution; competition; loss of key employees; additional funding requirements; planning and other permitting issues; and defective title to mineral claims or property. These factors and others that could affect Galantas’s forward-looking statements are discussed in greater detail in the section entitled “Risk Factors” in Galantas’ Management Discussion & Analysis of the financial statements of Galantas and elsewhere in documents filed from time to time with the Canadian provincial securities regulators and other regulatory authorities. These factors should be considered carefully, and persons reviewing this press release should not place undue reliance on forward-looking statements. Galantas has no intention and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law.
Galantas Gold Corporation Issued and Outstanding Shares total 256,210,395.
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.
Galantas Gold Corporation
Jack Gunter P.Eng – Chairman
Roland Phelps C.Eng – President & CEO
Investor Relations : Courtenay Heading (Maclir Consulting Ltd)
Email : email@example.com
Telephone : (UK) +44 (0) 7624 424 455
Charles Stanley Securities (Nominated Adviser)
Mark Taylor : Telephone +44 (0)20 7149 6000