Galactic Gold Company (TSXV: GGAU) (“Galactic Gold” or the “Company”) is pleased to announce the commissioning of a Helicopter-Borne VTEM and horizontal magnetic gradiometer geophysical survey designed to investigate mineral potential across the Company’s Hardrock West properties in the Geraldton, Ontario area. The Company is also pleased to announce a non-brokered private placement offering (“Private placement“) of the Company’s common stock at a price of $0.25 per common share for aggregate gross proceeds of up to $1,000,000.
The approximately 2,000 line/km (150 m span) airborne geophysics program will evaluate major mountain faults encompassing more than 85 km of strike length at the Hardrock West properties. In addition, high-resolution data is expected to identify secondary structures, conductive and magnetic anomalies, and improve drilling targets.
The airborne program will also provide critical data to support the previously announced integrated interpretation (News of March 3, 2026) of historical exploration data and area-wide structural and geophysical analysis. This extensive data collection work conducted by Exploration Machine Inc. Property-wide controls on gold mineralization link multiple target areas across the property and provide an important framework for generating targets and setting exploration priorities.
Priority goals
The property area was divided into 19 sub-areas and systematically evaluated. The following high-priority goals have been identified for near-term progress:
1 – Installation objectives (drilling in the near term)
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- Kowalski Lake: Strong historical training objections from a system so inexperienced that the recommended follow-up was never completed. Suitable structural setting near the Paint Lake Fault anticline and major fault intersections.
- Pillars of Solomon: A strong soil anomaly coincided with a historical prospect in the Watson Lake Fault, where the recommended follow-up was never completed. Favorable structural geometry including flexure and divergence development, with very limited drilling within the anomaly to date.
- Level 2 – High priority targets (progress towards drilling)
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- Moat lake: High-quality surface results repeated over decades along the Paint Lake Fault corridor. Historical excavation is incomplete with parts not evaluated.
- Türkiye Lake and the Southern Wildgoose: In trend with the nearby Hardrock Gold camp, with high-quality historical drilling near the claims boundaries. Structurally favorable but masked by encumbrances. Prominent lake sediment anomalies.
- Angel Watson Lake: Along the same structure as the previously producing mines west of the property. Numerous high-grade surface events and gold system demonstrated with arsenic-pyrite association.
- Lake Kenneth Daphne: A large unexplored area with multiple deposit styles and nearby high-grade events, including shear-hosted and intrusion-related gold systems.
- Coral Lake: Anomalous drilling results within a structurally complex area east of Lake Kowalski. There is no recent follow-up.
Original gold metal mounted constructions
Ken Perry, CEO of Galactic Gold, commented: “Located within the prolific Hardrock West property, which includes over approximately 85 kilometers of rock faults and is located adjacent to major gold deposits and a productive mine, the Hardrock West property remains largely unexplored by modern standards compared to the surrounding land.“
$1 million private placement without a broker
The Company intends, on a best efforts basis, to complete a private placement of the Company’s common shares (each “Shared share“) at a price of $0.25 per common share for gross proceeds of $1,000,000.
Net proceeds from the Private Placement will be used for exploration activities related to the Hardrock West property, working capital and general corporate purposes.
The securities to be issued pursuant to the Private Placement will be offered by way of the Private Placement in each province of Canada, other than Quebec, and in such other jurisdictions as the Company may designate, in each case, subject to applicable exemptions from prospectus requirements under applicable securities laws.
The Private Placement is expected to close on or before April 30, 2026, or as otherwise determined by the Company (“closing”) and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. The Shares to be issued under the Private Placement will have a hold period of four months and one day of closing.
In connection with the Private Placement, remote seekers may receive a cash fee in respect of their subscribers equal to 6.0% of the gross proceeds.
The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and, therefore, may not be offered or sold within the United States except in accordance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
Qualified person
Jason Arnold, P.Geo., President of DCX Geological Consulting and an Independent Qualified Person as defined in National Instrument 43-101 – Standards for Disclosure for Mineral Projects, has reviewed and approved the geological information contained in this press release. The qualified person has not completed sufficient work to verify historical mine production, is not considered to be in compliance with NI43-101 and may not represent the results expected at the subject property. Mineralization found on adjacent and/or nearby properties, especially in relation to adjacent mineral reserves/resources, is not necessarily indicative of mineralization that may be present on the Company’s properties.
About Galactic Gold Company
Galactic Gold Corp is a resource development company focused on unlocking the full potential of its 100% owned Hardrock West Property, located in Ontario’s Class A mining district. Over 57km of combined strike length along two major gold-bearing structures and 10km of Equinox Gold’s greenstone mine. Galactic Gold is located between the Equinox Gold Greenstone Mine and Equinox’s Brookbank deposit along what Laurentian University identified in its Metal Earth research, superstructures across the Galactic gold property underscoring the project’s strong potential for value creation.
Neither the 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.
Cautionary statement regarding forward-looking information
This press release may contain forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are often characterized by words such as “plans,” “expects,” “plans,” “intends,” “believes,” “anticipates,” “estimates,” “proposes,” “indicates” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, but are not limited to, statements regarding the Company’s current plans and business objectives. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events or results to differ materially from events or results estimated, anticipated, implied or expressed in such forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are based on a number of assumptions that may prove incorrect, including, but not limited to: assumptions regarding future metal prices, debt and equity financing market conditions, receipt of regulatory approvals, and other factors. All forward-looking statements attributable to the Company and persons acting on its behalf are qualified by cautionary statements. Any forward-looking statement speaks only as of the date on which it is made, and except as required by applicable securities laws, the Company disclaims any intention or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. More specifically, this news release contains statements regarding an anticipated private placement. Accordingly, there is a risk that the Private Placement will not be fully sold, or the Private Placement will be completed within the expected time or at all. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events may differ materially from those anticipated in such statements. Accordingly, undue reliance should not be placed on such statements due to their inherent uncertainty.
