GALLEON GOLD CORP - PNCKF STOCK NEWS

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.

Galleon Gold Corp. (TSXV: GGO) has initiated the formal permitting process for the West Cache Gold Project in Timmins, Ontario. The company submitted the Notice of Project Status - Form 1 - Mining Act, marking the transition from exploration to advanced exploration status. CEO David Russell highlighted the significance of this milestone, emphasizing the test mining program and pre-feasibility work. The Notice of Project Status is a critical step in the permitting process, and the company is also finalizing the Closure Plan and other necessary permits. Galleon Gold is in the advanced stages of compiling permit applications for Environmental Compliance Approvals (ECA) and various construction permits. The bulk sample for the project is designed for approximately 86,500 tonnes grading 8.13 g/t gold and containing an estimated 22,600 ounces of gold. Underground drilling from the bulk sample ramp is planned to ascertain the zone's stratigraphic and structural relationship to deeper gold zones known to exist at depths of 550 to over 1 kilometer.

Galleon Gold Corp. (TSXV: GGO) is advancing its West Cache Gold Project in Timmins, Ontario, targeting a bulk sample production of 86,500 tonnes @ 8.13 g/t Au, yielding 22,600 ounces of gold. The company expects gross revenue of C$50 million at gold prices above US$1,900/ounce. Detailed engineering designs are nearing completion, and the permit application process is underway, targeting a fall submission for the Closure Plan and various other permits. The company is also engaging in public consultations and baseline environmental studies.