I recently attended a presentation by Galantas Gold in London, and was very impressed with their potential.

Galantas is planning to commence gold production at it's Irish mine in 2Q 2006.



Some bullet points from the meeting;

- Galantas will be the first gold miner in Ireland.

- Mine construction is budgeted at under $1 million.

- AIM listing planned for the near future.

- Initial production plan for 30,000 ozs gold PA.

- Low cost producer, budget is for < $150 per ounce!




Galantas is currently listed on the Toronto Stock Exchange, but is planning a secondary listing on AIM, either late 2005 or early 2006.



An excellent recent article by Stephen Clayson of Resourceinvestor.com can be read below.

By Stephen Clayson
26 Sep 2005 at 08:55 AM EDT

LONDON (ResourceInvestor.com) -- Galantas Gold [TSXv:GAL], previously known as European Gold Resources, is entering the run up to early stage gold production from its Omagh project in County Tyrone, Northern Ireland, and intends to list on Londons AIM by the early part of next year to help facilitate its further ambitions.

Galantas CEO Roland Phelps sees AIM as Galantas natural home, and reports strong approval amongst current investors for an AIM listing. The company will look to raise its profile and broaden its institutional shareholder base through its AIM flotation, taking advantage of the greater depth of the London market.

The primary focus of Galantas right now is the establishment of gold concentrate production by the first quarter of next year from the Omagh project, which is slated to initially yield around 30,000oz per annum of gold from an open pit. A small, inexpensive plant will be constructed on site composed mostly of used, reconditioned machinery, and the company expects the cost of this to come in at less than $1m.

Phelps reports that Galantas has received firm offers from European smelters for concentrate from the Omagh mine, funding and government permits for the construction of which are already lined up, and predicts operating costs of less than $150/oz gold.

The successful establishment of gold production from the Omagh project would make it Irelands first gold mine, and would deliver a boost to those hoping to mine the yellow metal elsewhere in the Emerald Isle, the gold deposits of which can be seen as geologically related to those of Scandinavia. The gold mineralisation of the Omagh property was first discovered in the 1980s by Rio Tinto, and whilst falling below its required size threshold for development may still prove a solid asset for a company like Galantas.

The Omagh project presently hosts around 447,000oz of gold reserves and resources scattered across several deposits. Of these the largest, and that which is intended to support the first mining, is the Kearney deposit, which is estimated to contain 88,827oz of Proven/Probable Ore Reserve in material grading 7.52g/t and 267,150oz of Indicated Resources in rock grading 7.02g/t. Other deposits on the Omagh property are estimated to contain together 71,041oz of Indicated Resources in material graded at 6.72g/t and 20,399oz of Inferred Resource in rock graded at 4.68g/t.

Aside from the advent of cash flow from the mining of the Kearney deposit, what could offer notable upside to investors in Galantas is the expansion of the Omagh projects reserves and resources through further exploration. To this end, Europes first VTEM (Versatile Time-Domain Electro Magnetics, a proprietary airborne geophysical surveying technology of consultancy firm Geotech) survey was conducted recently on the Omagh property, and the selection and drilling of targets on the basis of this and previous geological work is Galantas next intended step after getting the mining of the Kearney deposit up and running.

A further positive aspect for investors in Galantas is the companys namesake brand of jewellery, which is currently sold through a small network of shops in Ireland. However, expansion is planned by Galantas into the U.K. and also into the U.S., the latter in the hope that Americans of Irish ancestry, initially marketed to in cities such as Boston and Chicago, will find the line particularly appealing.



Shares in Galantas presently trade pretty quietly in Toronto, where Phelps feels that perhaps a bias towards North America focused mining companies along with limited promotion has let Galantas remain somewhat unnoticed amid the crowd. This might in part explain the limited share price growth that the company has exhibited of late, despite edging nearer and nearer to production.

However, the prospect of a producing gold mine, albeit a small one, in the British Isles might garner quite some interest on Londons AIM. Coupled with the potential for significant exploration upside and increased revenue from jewellery sales driven by the rollout of the Galantas brand to new markets, this might make Galantas Gold a notable flotation for London investors next year, or for Toronto investors an investment worth considering right now.

Article reproduced by kind permission of Resourceinvestor.com.

Resourceinvestor.com homepage CLICK HERE




Latest pictures of the mine showing the completed processing plant.

For Galantas Gold Corp. corporate website, click HERE

Video of Galantas' Omagh operations - CLICK HERE

Email : info@galantas.com





UK investors visit the Galantas Minesite 26th May 2006.

I think the Resourceinvestor.com article I have added to the header above accurately portrays exactly where Galantas are now, and where they plan to go in the future.

Raising money in the AIM listing should enable them to move to a three shift system quicker than originally planned, and therefore achieve the 30,000 ozs PA target production in the mid term IMO.

Hree's the latest 1 year chart, momentum seems to be building up as the AIM flotation approaches.

Galantas presented at Minesite last week, and people seem impressed with the progress made.

In particular, the higher price of gold will ensure a higher profit once the mine actually starts producing Q2 2006.

I believe the AIM float will be in March.

Today's Sunday Times carries the following article!


The Sunday Times January 22, 2006

Omagh mine to start gold rush with 1.5m AIM float
Ciaran Hancock

GALANTAS Gold, a Northern Ireland-based gold exploration company with a stock market listing in Toronto, is planning to float on the Alternative Investment Market in London in February.

Galantas, which is headed by Jack Gunter, has a goldmine in Omagh, Co Tyrone. Gold produced at the mine is used to manufacture its own range of gold jewellery.

The flotation on AIM is designed to enable its shareholders in Ireland and the UK a trading platform closer to home, according to Moe Lavigne, Galantas vice-president.

Weve hundreds of Irish shareholders and this will allow them to follow the stock closely, he said. We listed in Toronto first because its the worlds biggest stock market for mining and mineral exploration companies.

The Omagh-based company, with a market value of C$18m (12.8m), hopes to raise 1m (1.5m) from the new listing. About a quarter will be swallowed up by listing costs with the balance used to accelerate development of the companys mine, the only gold producer in Ireland and Britain. ARM Corporate Finance in the UK will handle the flotation.

Lavigne said the company would begin production at Omagh before the summer and it will produce about 30,000 ounces a year.

Galantas received the planning green light for Omagh in 1995 but gold prices worldwide were depressed, making it uneconomical to mine. Prices have since doubled to a 20-year high of $553 an ounce.

In the mean time, Galantas used the gold samples recovered during the exploration phase in Omagh to create an exclusive line of high-quality, 18-carat gold jewellery. The jewellery is sold by eight retailers in the UK and two in Ireland. Lavigne said it has so far earned about C$500,000 in sales from this range, but supplies have dried up.

This one doesn't do it for me either..........double top and all the rest....back down heavily soon again Andy. Picking too many duffers.

Sue,

Mine construction nearly complete, on schedule, and under budget of 1 million.(They said it couldn't be done!)

AIM listing in March.

Cost per oz <$150

The price of gold still increasing, now around $550.

Reasonable profit there then!

Galantas are then going to take some of their production, and manufacture Irish Gold jewellery, adding an "obscene" additional value!

The double top doesn't do it for me I'm afraid, I'm looking at facts and fundementals here, and they say Galantas will be successful and enhance shareholder value.

The increasing price of gold just makes this story more compelling, added profit straight to the bottom line!

AIM listing seems on schedule, now we have a NOMAD!

-------------------------------------------------------------




Subject : Galantas Press Release Feb 9th 2006



9th February 2006 TSX Venture Exchange -"GAL"



GALANTAS APPOINTS LEWIS CHARLES SECURITIES AS BROKER FOR
LONDON AIM ADMISSION



Galantas announced today that it has appointed Lewis Charles Securities Ltd as Broker for its proposed admission to trading on Londons AIM market in the first quarter of 2006. Companies quoted on AIM are required to retain a Member Firm of the London Stock Exchange as their Broker, who will act as a conduit between the Company and the market.



Galantas is building Irelands first gold mine, with production scheduled to commence in Spring 2006 (2nd Quarter) and has sufficient funds to achieve production.


The corporate aim is to increase the resource base on the property through exploration and mine development, to expand mine production in stages, and to add value to the Companys production by marketing and selling certified Galtas Irish gold jewellery.



The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. This press release includes certain Forward-Looking Statements within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are Forward-Looking Statements that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these Forward-Looking Statements.



For further information, please contact:


Galantas Gold Corporation Telephone: +44 (0) 2882 241100

Jack Gunter P.Eng Executive Chairman

Roland Phelps C.Eng President & CEO

Moe Lavigne P.Geo Vice President

Email: info@galantas.com

Website: www.galantas.com


Bishopsgate Communications Ltd. Telephone: +44 (0) 207 430 1600

Dominic Barretto

Nick Rome

Website: www.bishopsgatecommunications.com

The announcement of the NOMAD seems to have perked up the price, now over C$0.20!

Listing on AIM is due in March, and with some publicity I think we will see a higher price as the listing is confirmed and the date approaches.

The uniqueness of being Ireland's only gold mine, and the fact that they will add considerable value by producing and selling their own jewellery, accompanied by the increasing price of gold, make this look like a decent stock IMO.

The CEO has excercised some warrants, giving some useful cash to the coffers.

Maybe they have a couple of exploratory drills planned?
----------------------------------------------------------------

GALANTAS GOLD CORP Quick Quote: GAL 0.20 (-0.00)

Galantas President Exercises Placing Warrants
2/13/06

TORONTO, ONTARIO and OMAGH, NORTHERN IRELAND, Feb 13, 2006 (CCNMatthews via COMTEX) --

Galantas (TSX VENTURE:GAL) President and CEO, Roland Phelps, notified the company today of the exercise of 1,771,019 warrants, with payment of $265,652.85. Mr Phelps obtained the warrants by participation in a private placing in April 2005. The warrants were due to expire on April 4th 2006 and had a strike price of 15c. Mr. Phelps' exercise is in addition to the exercise of warrants having the same terms, by other warrantholders of a further 345,250 warrants for $51,787.50.

Galantas Gold Corporation is building Ireland's first gold mine on its 189 sq km exclusive Prospecting Licence. The corporate aim is to increase the resource base on the property through exploration and mine development, to expand mine production in stages, and to add value to the Company's production by marketing and selling certified Galantas(TM) Irish gold jewellery.

Galantas exploration update 16/02/2006.
-------------------------------------------

Subject : Galantas Press Release 16th Feb 2006



16th February 2006 TSX Venture Exchange -"GAL"



GALANTAS REPORTS EXPLORATION ON ITS OMAGH LICENCE



Galantas Gold Corporation announces that its programme to expand reserves and resources on its Omagh gold property is underway. Overburden stripping has been completed on a 25 metre long southern extension of the 850 metre long Kearney vein. Assays from three channels samples taken for ore characterization purposes confirmed the continuation of the gold bearing structure.



Results of the characterization samples were as follows :



Channel #1 11.8 grams per tonne gold over 0.35 metres

32.64 grams per tonne gold over 0.92 metres



Channel #2 8.97 grams per tonne gold over 1.05 metres

30.88 grams per tonne gold over 0.84 metres



Channel #3 13.64 grams per tonne gold over 0.50 metres



Following these positive results, detailed channel samples at 1 metre intervals are being cut to provide engineering quality data, enabling ore in the extension to be incorporated into the mining plan. This ore will be additional to that reported in ACA Howes 43-101 compliant ore reserve statement of 2004.



To start its outlying discovery programme, the Company has secured land access agreements to test high priority targets. The first is a 23 gram per tonne gold soil anomaly coincident with a +100 metre long VTEM conductor, located 1.5 kms from the Omagh Mine. The VTEM conductor was detected in the Companys 2005 aerial survey and may represent a sulphide rich segment of a quartz-sulphide vein system. There is an established correlation of gold with sulphides in the area. The soil anomaly was discovered by Rio Tinto. An early trenching programme is scheduled.



The Qualified Person responsible for exploration is Maurice Lavigne, P.Geo, who supervised the program, including transport and security. Assays were and are being done by OMAC Laboratories of Galway, Ireland.



The corporate aim is to increase the resource base on the property through exploration and mine development, to expand mine production in stages, and to add value to the Companys production by marketing and selling certified Galtas Irish gold jewellery.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. This press release includes certain Forward-Looking Statements within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are Forward-Looking Statements that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these Forward-Looking Statements.



For further information, please contact:



Galantas Gold Corporation Telephone: +44 (0) 2882 241100

Jack Gunter P.Eng Executive Chairman

Roland Phelps C.Eng President & CEO

Moe Lavigne P.Geo Vice President

Email: info@galantas.com

Website: www.galantas.com

AIM listing appears to be imminent!


"EXPECTED ADMISSION DATE: 31 March 2006"


Plaudits to Rambutan 2 over the road.




AIM
15 March 2006


ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2

ALL APPLICANTS MUST COMPLETE THE FOLLOWING:

COMPANY NAME: Galantas Gold Corporation

COMPANY ADDRESS: 360 Bay Street Suite 500, Toronto, Ontario, Canada

COMPANY POSTCODE: M5H 2V6

COUNTRY OF INCORPORATION: Canada

COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED IN
ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES: Galantas is a gold resource company in Northern Ireland. Galantas is currently constructing a plant which will have the capacity to process 30,000 oz of gold annually. The Company expects to commence production in the second quarter of 2006.

DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares): 129,635,458 Common Shares of Nil nominal value, all of which are already issued.

CAPITAL TO BE RAISED ON ADMISSION: Nil

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:
Roland Frank Gerard Phelps (President & CEO)
Maurice Jean Lavigne (Vice President)
Lionel John Gunter (Chairman)
Ronald Ernest Alexander (Non Executive Director)
Norman Emerson Brewster (Non Executive Director)
James Bernard Clancy (Non Executive Director)
James Imrich Golla (Non Executive Director)

PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL
BEFORE AND AFTER ADMISSION:
Roland Phelps - 23.09%*
Jack Gunter - 11.73%
Kevin Martin - 10.25%**
Solitaire Investments Limited - 6.71%

CDS & Co NCI Account - 50.51%***

***The Canadian Depository for Securities Limited (CDS) is Canada's national securities depository, clearing and settlement hub. CDS supports Canada's equity, fixed income and money markets.

CDS is owned by major Canadian chartered banks, members of the Investment Dealers Association of Canada and TSX Inc (the operator of the Toronto Stock Exchange). It is regulated by the Ontario and Quebec securitiescommissions and the Bank of Canada, with working and reporting relationships with the Canadian Securities
Administrators, other provincial securities commissions and the Office of the Superintendent of Financial Institutions.

Under Canadian securities requirements, shareholders in a public company holding over 10% of the issued share capital of that company must file insider reports. No reports have been filed in relation to the individual holdings held by CDS & Co NCI Account (except where included above, which may involve a degree of double
counting). All CDS & Co NCI Account holdings are all for and on behalf of third party beneficial interests.
However, the Company cannot be sure that an individual holding included in the CDS & Co NCI Account holding does not represent more than 3% of the Common Shares following Admission.

*this includes 7,105,338 Common Shares held by Welsh Gold plc, a company of which Roland Phelps is a director and controlling shareholder.

**controlled through family members and through Hubark Properties Limited.

NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

ANTICIPATED ACCOUNTING REFERENCE DATE: 31 December

EXPECTED ADMISSION DATE: 31 March 2006

NAME AND ADDRESS OF NOMINATED ADVISER:
ARM Corporate Finance Limited
12 Pepper Street
London E14 9RP

NAME AND ADDRESS OF BROKER:
Lewis Charles Securities Ltd
4-7 Chiswell Street
London EC1Y 4UP

DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT
THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
Copies of the Admission Document, which will contain full details about the Applicant and the Admission of its
securities will be available from:
ARM Corporate Finance Limited
12 Pepper Street
London E14 9RP

www.armcf.com

DATE OF NOTIFICATION: 15 March 2006

NEW/ UPDATE (see note): New

QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES HAVE BEEN TRADED:

THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:

CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS ADHERED TO ANY LEGAL AND REGULATORY
REQUIREMENTS INVOLVED IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET:

AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE APPLICANT HAS MADE PUBLIC OVER THE
LAST TWO YEARS (IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE:

DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING COMPANY, DETAILS
OF ITS INVESTMENT STRATEGY:

A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS OCCURRED
SINCE THE END OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED:

A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT THE WORKING CAPITAL AVAILABLE TO
IT OR ITS GROUP WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:

DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES:

A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S SECURITIES:

A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S SECURITIES:

INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT CURRENTLY PUBLIC:

A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A
FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION AND FULLY AUDITED INTERIM RESULTS WHERE
APPLICABLE. THE ACCOUNTS MUST BE PREPARED ACCORDING TO UK OR US GAAP OR INTERNATIONAL ACCOUNTING STANDARDS:

THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:


This information is provided by RNS
The company news service from the London Stock Exchange

Shares magazine has an excellent write up of the Galantas flotation, confirmed for end of March 2006!

Some snippets from the article (page 39 Shares Mag)
=============================================

Irish resources group Galantas is set to make headlines by opening the
UKs only producing gold mine this spring.

It has a prospecting licence for a 189 sq km region near Omagh in Northern
Ireland, with proven reserves of 367,310 tonnes at 7.52 grams per tonne
(g/t) of gold. There is also a further indicated resource of 1.18 million
tonnes at 7.02 g/t.


Galantas has already started to generate revenue from gold. It processed 101 tonnes of ore from bulk sampling and raised nearly CA$600,000. It plans to bring the mine
into full production this year.

A second revenue stream will come from jewellery. Chief executive Roland
Phelps says Galantas will use 4% of its produce for the sideline operation.

Subject : Galantas Press Release 22nd Mar 2006


22nd March 2006 TSX Venture Exchange -"GAL"



BARCLAYS FINANCES GALANTAS GOLD MILL

Barclays Bank plc, through its subsidiary, Barclays Mercantile Business Finance Ltd, has provided a sale and lease back facility for crushing, grinding, flotation and other equipment at the Omagh Mine of Galantas Gold Corporation. Approximately half the cost of the equipment has been financed by cash with the remainder coming from the sale and lease back arrangement. The sum financed is 180,000 (CDN$ 359,252) against an equipment cost of 358,903 (CDN$716,315). A lease purchase payment of 5577.78 (CDN$11,132) is payable monthly for 36 months. Galantas has the right to purchase the equipment for a nominal sum at the end of the 3 year term. The sale and lease back is the second deal with Barclays, the first arrangement being used to purchase open-pit mining equipment.

The equipment purchased includes Denver Float Cells, Denver Ball Mill, Eimco Thickeners, Mirrlees lackstone generator, A40 Volvo articulated dumptruck, Volvo EC140 Excavator and other equipment. The milling equipment was sourced in Canada and refurbished to a good standard prior to shipment to Ireland. The Volvo equipment was purchased in the UK and although to be initially used in construction, will permit equipment to be released for the ongoing exploration program. The additional finance will enhance working capital. In order to protect the company against currency losses due to a strong Canadian dollar, the cash required to make Canadian purchases was maintained in CDN$

Barclays Bank plc is a UK-based financial services group, with a very large international presence in Europe, the USA, Africa and Asia. It is engaged primarily in banking, investment banking and investment management. In terms of market capitalisation Barclays is one of the top ten largest banks in the world.

Galantas Gold Corporation is building Irelands first gold mine on its 189 sq km exclusive Prospecting Licence. The corporate aim is to increase the resource base on the property through exploration and mine development, to expand mine production in stages, and to add value to the Companys production by marketing and selling certified Galtas Irish gold jewellery.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. This press release includes certain Forward-Looking Statements within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are Forward-Looking Statements that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these Forward-Looking Statements.

Galantas have added potential resources!

Galantas Discovers 53 Gold Targets on Irish License

TORONTO, Mar 29, 2006 (BUSINESS WIRE) --
Galantas Gold Corporation (TSX VENTURE:GAL) announces that it has completed the integration of exploration data on its Crown Prospecting Licence in County Tyrone, N.Ireland. The data included the results of soil and stream sediment geochemistry, geological mapping, induced polarisation, VTEM and magnetic surveys.

An independent report, prepared by ACA Howe International, has been filed today on www.sedar.com as an appendix to a Galantas Technical Report. The Howe report also serves as the "Competent Persons Report" in regard to the upcoming dual listing of Galantas shares on London's AIM market. The report comments on exploration potential. Fifty three gold targets have been identified and priorities assigned.

Howe grouped the targets on a priority of 1-10. Scores have been assigned which reflect technical merit and the likelihood of contributing to resources in the short term. Eight gold-rich veins of the Kearney swarm have been classified as very high priority resource augmentation targets with scores of 9 and 10, for further exploration in the near future. These are: Kearney, Joshua's, Kerr's, Gormley Main, Elkin's, Gormley West 2, Princes and Garry. These contain relatively high grade channel sample and/or drill intercepts and reserves (1995) and resources (1995 and 2004). Eight other veins of the Kearney swarm not yet drilled or drilled with lower grades have target scores of 5 to 8. The remaining targets, of which there are 37, comprise one target scoring 6, 6 scoring 5, four targets scoring 4, eleven targets scoring 2 and seven targets scoring 1.

Howe considers that the targets scoring 3 to 8 present some excellent opportunities for new discoveries on or near known vein structures of the Kearney swarm and elsewhere in the greater part of the licence area. Howe also considers it likely that aggressive exploration will add substantially to the reserves and resources and that it is possible that structures similar to the Kearney vein lie undiscovered in the identified target area. Further, Howe considers that the high gold grades and the widths and continuity of the present reserves and resources indicate that there is potential for underground production in the future, following exploratory drilling.

Galantas Gold Corporation is building Ireland's first gold mine on its 189 sq km exclusive Prospecting Licence. The corporate aim is to increase the resource base on the property through exploration and mine development, to expand mine production in stages, and to add value to the Company's production by marketing and selling certified Galantas (TM) Irish gold jewellery.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".

Galantas

Is the big s.p.drop just a70/1 split on joining aim,saw a2/1 split in a bank share a few years back ,it causd a 50 throretical s.p. drop on the day ,of course shares holding doubled,in the case of Gal shares will increase by 70 times,i estimate,any views.

mbugger,

there is no "big sp drop" that I can see, where are you seeing that please?

Accourding to the share price it appears to have droped to apr 11.5p could this be to get investors into the Co & interested to see if this is a bargin of the day?

ABIG DROP WAS SHOWING AT aroud 9.30 to10.30,adrop of 98.5p.c.,was top faller .

See advfn bb,put in GAL,BIG DROP STILLTHERE,look andy.

mbugger,

Sorry but that is wrong!

GAl were Canadian $0.22 last night, around 11p.

They opened around that price MID here, there has been no dramatic drop.