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Galleon Gold (OTCQX: GGOXF) amended its credit agreement with Pan American Silver to remove the lender's right to accept common shares for interest and standby fees. All interest and standby fee obligations will now be payable exclusively in cash.
All other material terms remain unchanged. Pan American is a related party and the Company relied on MI 61-101 exemptions. The Company also granted 875,000 stock options at $0.98 per share, vesting immediately and expiring March 31, 2031.
Galleon Gold (OTCQX: GGOXF) provided a corporate and operational update for the West Cache Gold Project on March 25, 2026. The company received Category 2 and Category 3 PTTW permits, hydro line installation is substantially complete with energization expected in early April, and box cut excavation and berm/drainage works are progressing.
Other milestones: temporary water treatment commissioning is underway, an RFP for underground development was issued, exploration drilling has started targeting high‑grade extensions, and Leah Page and Lisa Buchan were named to senior roles to support development and strategy.
Galleon Gold (OTCQB: GGOXF) received a Category 3 Permit to Take Water permitting primary box cut excavation at the 100%-owned West Cache Gold Project in Timmins, Ontario, enabling underground access and a planned 86,500-tonne bulk sample.
Permitting from the Ontario MECP includes monitoring and mitigation conditions; surface works (site clearing, erosion controls, road upgrades) are underway and hydro pole installation is ~60% complete. West Cache covers ~11,600 hectares with a mineralized corridor over 5 km of strike, located ~7 km NE of Timmins West Mine.
Galleon Gold (OTCQX: GGOXF) will start phase one of a 2026 diamond drill program at its wholly owned West Cache gold project in Timmins, Ontario on February 23, 2026. NPLH Drilling has been contracted to complete an 18,000-metre program running through winter and spring.
The program targets extensions of known high-grade zones to expand or upgrade existing Mineral Resources and tests high-confidence targets identified by prior drilling, geological and geophysical work. Assay results will be released as received and validated. Technical content reviewed by Qualified Person Leah Page, P.Geo.
Galleon Gold (OTCQX: GGOXF) qualified to trade on the OTCQX Best Market and began trading on January 27, 2026, after graduating from the OTCID Basic Market. U.S. investors can access the company's financial disclosure and Real-Time Level 2 quotes on otcmarkets.com. The company said the OTCQX listing is expected to increase visibility, improve trading liquidity, and expand the shareholder base. OTCQX eligibility requires meeting higher financial standards, adopting best-practice corporate governance, and complying with applicable securities laws, enabling streamlined access to U.S. capital markets for companies listed on qualified international exchanges.