TORONTO, Nov. 28, 2025 (GLOBE NEWSWIRE) — Galantas Gold Corporation (the “Company”) is pleased to announce its unaudited financial results for the quarter ended September 30, 2025.
Financial indicators
Key third quarter 2025 results expressed in Canadian dollars are summarized below:
| All figures are expressed in Canadian dollars (CDN$). | The quarter is over September 30 |
|||||
| 2025 | 2024 | |||||
| Income | $ | 0 | $ | 0 | ||
| Cost and costs of operations | $ | (15,569) | $ | (22,283) | ||
| Losing to the undervalued | $ | (15,569) | $ | (22,283) | ||
| Depreciation | $ | (90,576) | $ | (110 126) | ||
| General administrative expenses | $ | (1,761,260) | $ | (1,174,156) | ||
| Profit (loss) from exchange rate differences | $ | (106,064) | $ | (26,553) | ||
| Unrealized gain on derivative fair value adjustment | $ | (156,025) | $ | 592 489 | ||
| Profit on redemption of convertible bonds | $ | 10 470 | $ | 0 | ||
| Loss on disposal of shares in subsidiaries | $ | (2,885,663) | $ | 0 | ||
| Net (loss) for the quarter | $ | (5,004,687) | $ | (740 629) | ||
| Working capital deficit | $ | (2,557,662) | $ | (14,098,845) | ||
| Cash income/(loss) from operating activities before changes in non-cash working capital | $ | 146 134 | $ | 21 801 | ||
| Cash as of September 30, 2025 | $ | 19,943 | $ | 383 011 | ||
Sales revenue for the quarter ended September 30, 2025 was $nil, compared to $nil revenue for the quarter ended September 30, 2024. Concentrate shipments began in the third quarter of 2019. Provisional concentrate sales revenue was $566,000 for the third quarter of 2025, compared to $528,000 for the quarter ended September 30, 2025. third quarter 2024. Prior to the mine commencing commercial production, net proceeds from the sale of concentrate are offset against development assets.
Net loss for the quarter ended September 30, 2025 was $5,004,687 (2024: $740,629) and cash inflow from operating activities before changes in non-cash working capital for the quarter ended September 30, 2025 was $146,134 (2024: $21,801 inflow USA).
The Company's cash balance at September 30, 2025 was $19,943, compared to $383,011 at September 30, 2024. The working capital deficit at September 30, 2025 was $2,557,662, compared to a working capital deficit of $14,098,845 at September 30, 2024.
The Company reports a loss on disposal of interests in subsidiaries at the end of the quarter on September 30, 2025 of $2,885,663, compared to nil in the prior period. Flintridge and Omagh are now shown on the balance sheet under 'Investments in associates'.
Safety is a priority for the Company and we continue to invest in safety-related training and infrastructure. The zero lost time injury rate since the start of underground work has been maintained. Environmental monitoring demonstrates a high level of compliance with regulatory requirements.
Detailed results and Management Discussion and Analysis (MD&A) are available on the website www.sedar.com And www.galantas.com and the highlights in this release should be read in conjunction with the detailed results and MD&A. MD&A provides analysis of historical comparisons, trends affecting the business, and risk factors.
Qualified Person
The financial components of this disclosure have been reviewed by Alan Buckley (CFO) and the manufacturing and approvals components by Brendan Morris (Chief Operating Officer), both qualified persons within the meaning of NI. 43-101. The information is based on local production and financial data prepared under their direction.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including estimates of revenues and costs for the Omagh Gold Project. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Galantas believes are appropriate in the circumstances. Many factors could cause Galantas's actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements or strategy, including: gold price volatility; discrepancies between actual and estimated production, actual and estimated metallurgical recovery and productivity; mining operational risk, geological uncertainties; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign intervention; the speculative nature of gold exploration; dilution; competition; loss or absence of key employees; additional funding needs; uncertainties regarding planning and other permitting issues; and defective mineral title or property. These and other factors that may affect Galantas' forward-looking statements are discussed in more detail in the section entitled “Risk Factors” in “Galantas Management's Discussion and Analysis of Galantas' Financial Statements” and in other documents filed from time to time with Canadian provincial securities regulators and other regulatory authorities. These factors should be considered carefully and persons reviewing this press release should not place undue reliance on forward-looking statements. Galantas does not intend and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law.
Requests
Galantas Gold Corporation
Mario Stifano – CEO
E-mail: [email protected]
Website: www.galantas.com
Phone: 001 416 453 8433
Grant Thornton UK LLP (Nomad)
Philip Secret, Harrison Clarke, Elliot Peters
Phone: +44(0)20 7383 5100
JV Angel Corporate Finance LLP (AIM Broker)
David Hignell, Charlie Buvera (corporate finance)
Grant Barker (sales and brokerage)
Phone: +44(0)20 3470 0470
