Galleon Gold Corp - PNCKF STOCK NEWS

Galleon Gold (TSXV: GGO) has received an invitation from the Ministry of Mines to submit a Closure Plan for a bulk sample program at its 100% owned West Cache Gold Project in Timmins, Ontario. The plan requires a financial assurance of $1,390,978 for property restoration.

The bulk sample program is designed to extract approximately 86,500 tonnes grading 8.13 g/t gold, containing an estimated 22,600 ounces of gold before recoveries. The sample will be taken from Zone #9, a high-grade metasedimentary-hosted gold zone extending from bedrock to 350 meters depth, with gold recoveries up to 98%.

The company must wait 45 days for MINES to accept the Closure Plan before beginning surface work. Additional permits being processed include Environmental Compliance Approval and Permit to Take Water for underground mine workings.

Galleon Gold (TSXV: GGO) has issued 564,796 common shares to satisfy an interest payment of $163,742.47 on convertible debentures issued in April 2024. The shares will be subject to a four-month hold period ending March 19, 2025. The transaction, which involves certain company insiders and officers, qualifies as a related party transaction but is exempt from minority approval and formal valuation requirements under MI 61-101 as it falls below 25% of the company's market capitalization.

Galleon Gold Corp. (TSXV: GGO) has announced it will pay interest on its convertible debentures through the issuance of common shares. For debentures issued in April 2024 totaling C$3.0 million, the company will issue 377,588 common shares to satisfy $110,722.61 in interest. For debentures issued April 29, 2024 worth C$1.41 million, 187,208 common shares will be issued to cover $53,019.86 in interest. The share issuance requires TSX Venture Exchange approval and will have a four-month hold period. The transactions qualify as related party transactions but are exempt from minority approval requirements.

Galleon Gold Corp. (TSXV: GGO) (FSE: 3H90) announces the passing of Chief Operating Officer Timothy G. Smith. With over 30 years of experience, Smith was a key figure in the mining industry and had been with Galleon Gold since 2021. He held several leadership roles throughout his career, including Vice President at Apollo Gold and COO at Fire River Gold. His passing is a significant loss to the company and the industry. Galleon Gold's CEO David Russell expressed deep condolences to Smith's family, highlighting his valuable contributions and trusted technical expertise.

Galleon Gold has announced the successful approval of all resolutions at its Annual and Special Meeting of Shareholders held on May 28, 2024. The elected directors for the upcoming year include R. David Russell, Thomas Kofman, James T. O'Neil Jr., Mario Colantonio, Gerhard Merkel, Michael Hobart, and Richard F. Nanna. Shareholders also re-appointed Grant Thornton LLP as independent auditors and approved the continuation of the stock option plan. Galleon Gold will participate in the Canadian Mining Expo in Timmins, Ontario, from June 5 to June 6, 2024.

Galleon Gold Corp. announces excellent results from recent metallurgical test work on a composite sample, indicating high gold recoveries from flotation and gravity-flotation methods. The study conducted by SGS Canada's Lakefield laboratory shows up to 98.5% gold recovery in rougher flotation and up to 97.1% recovery in gravity tailings flotation.

Galleon Gold Corp. receives new Exploration Drilling Permit for West Cache Gold Project in Ontario, expanding exploration area and enhancing potential for new discoveries. CEO David Russell emphasizes focus on grassroots exploration and future resource expansion.

Galleon Gold Corp. has engaged ICP Securities Inc. for automated market making services, agreeing to pay a monthly fee of C$7,500 plus taxes. The initial term is for three months and automatically renews for subsequent one-month terms. ICP will correct temporary imbalances in the supply and demand of the company's shares, with no performance factors or stock options involved. ICP Securities Inc. is a Toronto-based IIROC dealer-member specializing in automated market making and liquidity provision, with a proprietary market making algorithm called ICP Premium™.

Galleon Gold Corp. (TSXV: GGO) plans to move towards a bulk sample program at its West Cache Gold Project in Timmins, Ontario. The company aims to systematically de-risk the project with an 86,500-tonne bulk sample of high-grade Zone #9 mineralized material. The company has completed the work required for its Closure Plan application, Environmental Compliance Approvals, and the Permit to Take Water. Additionally, the company has contracted SGS Canada to conduct additional metallurgical studies and has granted 1,800,000 stock options to directors, officers, employees, and consultants of the Company.