TORONTO, ONTARIO--(Marketwired - Feb 4, 2015) - Galantas Gold Corporation (the 'Company') (TSX VENTURE:GAL)(GAL.L), the AIM and TSXV quoted gold producer and explorer with a 100% interest in Ireland's only gold mine, announces a proposed private placement of shares.

The private placement is for a minimum of 5 million shares at a price of UK£0.03 / CDN$0.055 per share (the "Placing") to raise not less than UK£150,000 / CDN$ 275,000. A four month hold period will apply to the shares and issuance will be subject to TSXV approval. The shares will rank parri passu with the existing Issued Shares.

The net proceeds raised by the Placing are intended to be used for working capital purposes and to finance the Company's continued commitments in regard to its underground planning application.

As announced on 9th January 2015, determination of the planning application is expected in the first quarter of 2015. The Company's expectations regarding timelines are not in its own control, as the planning process is being managed by the Department of the Environment (Northern Ireland) Planning.

Neither 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.

Galantas Gold Corporation's Issued and Outstanding Shares total 76,697,156.