GALORE RES INC - GALOF STOCK NEWS

Galore Resources has scheduled its Annual and Special General Meeting for November 16, 2022, to be held electronically due to COVID-19 precautions. Additionally, the company announced the grant of 7,100,000 incentive stock options to directors and officers, exercisable at $0.10 for five years, pending ratification by shareholders. This option grant may allow some insiders to exceed 5% individual and 10% collective ownership of options relative to the company's share capital, highlighting corporate governance adjustments amid ongoing challenges.

Galore Resources Inc. has announced encouraging results from its San Jose drill program at the Dos Santos Project in Mexico. Three diamond drill holes (SJ20, SJ21, SJ22) confirmed the extension of previously identified structures, with significant mineralization observed. Notable intersections include up to 3.69 ppm gold and 120.55 ppm silver. The results are in line with past drilling data and indicate potential for resource calculation. The geological team is optimistic about expanding the mineralized area, targeting further drilling to assess continuity.

Galore Resources Inc. has entered into a significant Exploitation Agreement with Oztoc Metal Corporation, focusing on the Duraznillo Mine. This 5-year contract allows for gold extraction from Galore's concessions, with a 30/70 revenue split favoring Galore post-tax. Importantly, Galore retains 100% interest in the mine, while OZTOC will manage mining operations, including all related costs. Notably, this agreement proceeds without a feasibility study, highlighting inherent risks. Galore's management expresses confidence in OZTOC's capabilities as they prepare for production.

Galore Resources Inc. (TSXV:GRI)(OTCQB:GALOF) has provided an update on the drilling program at the Dos Santos Project, focusing on the San Jose and Los Gemelos claims. Drilling commenced on February 3, resulting in three completed holes totaling 664.2 meters. The visible characteristics in the core samples suggest geological and economic potential. Additionally, drilling has begun at Los Gemelos following the company regaining control of the mine. The results from these drilling activities are expected to clarify the structural setting of gold mineralization.

Galore Resources Inc. (OTCQB: GALOF) has corrected the start date for trading on the OTCQB to March 23, 2022, due to previous communication issues. The company expresses gratitude to shareholders for their patience. Trading will also continue on the TSX Venture Exchange under the symbol GRI. The company remains committed to its goals in 2022, including mineral exploration and development in Mexico. Galore Resources focuses on discovering significant gold deposits, notably at its Dos Santos Project, which aligns with major mining operations.

Galore Resources Inc. has successfully regained possession of the Duraznillo Ranch mining operation following a legal battle against URBYASA. The Mexican Courts granted the company a judicial resolution on December 8, 2021, allowing for peaceful repossession on March 8, 2022. The mining operation, which began in October 2018, faced disruptions due to a breach of contract. Management plans to assess the mining site and explore future operations with potential mining partners, ensuring transparency with shareholders moving forward.

Galore Resources Inc. has commenced diamond drilling at its San Jose Prospect, with initial results promising for mineralization. The company received permits for 4,000 meters of drilling at San Jose and El Alamo on its 100%-owned Dos Santos Property in Mexico. The first drillhole, SJ 021, targets a mineralized system at a depth of 250 meters. Galore's new geological team brings over 100 years of combined experience, enhancing exploration credibility. Additionally, Galore has begun trading on the OTCQB under the ticker GALOF.

Galore Resources has received approval for its drill permit applications, initiating a 4,000-meter diamond drill program at its Dos Santos property in Mexico. This program targets previously explored areas, particularly the El Alamo and San Jose prospects, to assess mineralization and hydrothermal systems. The company aims to enhance its understanding of mineralization at depth. Additionally, Galore has completed paperwork for its OTCQB listing and is awaiting review. Management expresses optimism for 2022, highlighting the support from shareholders.

Galore Resources Inc. (TSXV:GRI)(OTC PINK:GALOF) held its Annual and Special General Meeting on November 16, 2021, with 33,317,778 shares voted (23.51% of issued shares). All incumbent directors were reappointed, and DeVisser Gray, LLP was retained as the auditor. The company closed a private placement financing at $0.035, raising CAD $818,501.36 by issuing 23,385,752 shares. Directors purchased 22,271,447 of these shares. The company also repaid a USD $30,000 loan to a current shareholder.