Galleon Gold Corp Stock Price, News & Analysis

Galleon Gold has announced the sale of its Milford Royalty to ETM UT for US$700,000. The royalty is associated with the Milford Copper Property in Utah, USA, which the company has held for over a decade.

CEO David Russell stated that this sale aligns with the company's strategic focus on their flagship West Cache Gold project in Timmins, Ontario. The transaction represents a successful monetization of a non-core asset, allowing Galleon Gold to redirect resources toward their primary operations.

The agreement demonstrates Galleon Gold's commitment to portfolio optimization and strategic resource allocation, as they continue to prioritize their Canadian gold mining interests.

Galleon Gold Corp (TSXV: GGO) has initiated surface site preparations for its advanced exploration development Bulk Sample project at the 100% owned West Cache Gold Project in Timmins, Ontario.

The company has received a Permit to Remove Forest Resources and begun timber harvesting operations, contracting Caron Equipment of Timmins. The harvested trees will be partially used for on-site construction, with the remainder sold to the lumber industry.

Knight Piésold will complete the Issued for Construction drawings and detailed Requests for Proposal for the box cut, pond, and water management systems, expected in June 2025. J.L. Richards and Associates will handle the final design and RFP for electrical distribution lines. The company is also processing operating permit applications for Environmental Compliance Approval and Permit to Take Water.

Galleon Gold (TSXV: GGO) has received important approval from Ontario's Ministry of Energy and Mines for its advanced exploration bulk sample program at the 100%-owned West Cache Gold Project in Timmins, Ontario. The approved closure plan enables the extraction of an 86,500-tonne bulk sample with an expected grade of 8.13 g/t gold, potentially containing approximately 22,600 ounces of gold before recoveries.

The comprehensive closure plan encompasses project construction, mining plans, baseline studies, rehabilitation and reclamation plans, and site monitoring programs. The data gathered from underground exploration, including drilling, mining methods, and mill processing, will be essential for pre-feasibility studies and help derisk future mine development.

With this approval, the company is now positioned to commence site preparation, surface work, and pre-development activities at the project.

Galleon Gold Corp (TSXV: GGO) has announced an agreement to acquire 66 mineral claims spanning 1,409 hectares in Godfrey and Bristol Townships, adjacent to its West Cache Gold Project in Timmins, Ontario. This strategic acquisition will expand the company's contiguous claim block to 11,570 hectares, located 13 kilometers West of Timmins.

The acquisition terms involve issuing 100,000 common shares to 2205730 Ontario Inc. to obtain 100% interest in the mineral claims. The transaction is expected to close by March 2025, subject to TSX Venture Exchange approval. The issued shares will have a four-month hold period under Canadian securities laws.

The company is currently planning an 86,500 tonne bulk sample at West Cache while maintaining focus on exploration opportunities in the Timmins mining camp.

Galleon Gold (TSXV: GGO) has completed its submission of the West Cache Project Closure Plan to the Ministry of Mines, including supporting documentation and Financial Assurance of $1,390,978. The Ministry has a 45-day review period to accept the plan for filing.

The company has granted 1,260,000 stock options to directors, officers, employees, and consultants. These options are exercisable at $0.28 per share, vest immediately, and will expire on February 21, 2030.

Additionally, Galleon Gold will be present at the PDAC convention, welcoming investors and shareholders at booth #2911 in the Investor Exchange, South Building at the Metro Toronto Convention Center from March 2-5, 2025.

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.