Toronto, Ontario--(Newsfile Corp. - May 21, 2026) - Galleon Gold Corp. (TSXV: GGO) (OTCQX: GGOXF) (FSE: 3H90) (the "Company" or "Galleon Gold") is pleased to announce the first set of drill results from the 2026 drill program at its 100% owned West Cache Gold Project (the "Project" or "West Cache") in Timmins, Ontario.
The initial holes of the planned 18,000-meter drilling program were designed to test the down-dip extension of Zone #9 mineralization beneath the planned bulk sample stopes and investigate the geological controls on mineralization within the South Zone, which is directly to the south of Zone #9 and in close proximity to the planned bulk sample ramps. Five (5) holes with complete assay reporting are included in this press release, as well as partial results from two (2) holes.
Zone #9 Highlights
- WC-26-227 with 5.16 g/t Au over 3.00 m 25 m below surface and within an intercept of 2.14 g/t Au over 11 m.
- WC-26-234 with 5.04 g/t Au over 5.91 m within a broad intercept of 2.10 g/t Au over 22 m.
- WC-26-235 with 5.13 g/t Au over 9.97 m including 8.81 g/t Au over 4.1 m within a broader intercept of 3.00 g/t Au over 18.75 m.
South Zone Highlights
- WC-26-227 with 7.77 g/t Au over 1.00 m within an intercept of 3.87 g/t Au over 2.05 m.
- WC-26-227 with 2.61 g/t Au over 5.10 m including 6.15 g/t Au over 2.00 m.
"We are very pleased with these initial drill results, which confirm grade continuity below our planned bulk sample stope areas, as well as within the upper portions of Zone #9 near surface. In addition, the footwall and hanging wall of Zone #9 are consistently returning broad intervals grading 1 to 3 g/t gold surrounding a higher-grade core. These mineralized envelopes become increasingly significant in the current gold market," said David Russell, CEO of Galleon Gold. "We are just starting to scratch the surface in understanding the South Zone but are pleased to see the numerous mineralized intervals are being encountered at the predicted depths."
Overview of the Drill Holes
Holes WC-26-234 and WC-26-235 were designed to test both Zone #9 and the South Zones. The Zone #9 targets were aimed at evaluating mineralization down dip from the four stopes that comprise the Company's 86,500-tonne bulk sample program. Results from these holes indicate continuity of mineralization in this area and suggest that additional development could yield results comparable to those anticipated from the bulk sample. These holes were extended beyond the Zone #9 footwall so that they intersected mineralization within the Upper South Zones. Assay results for the South Zone intercepts are currently pending.
The Upper South Zones have shown continuity along strike and down-dip and are within 50-meters of the planned bulk sample ramps. The Company began the 2026 drilling program with the South Zone drilling to take advantage of winter access to the area south of Zone #9.
Holes WC-26-227 to 233 were designed to obtain information regarding the controls and strike extent of the South Zone mineralization. All holes intersected mineralization within the Upper, Mid, and Lower South Zones. Early review of the 2026 Mid South Zone intercepts indicate that the mineralized zones extend across the two dominant lithologies and over 100-meters to the east of a diabase unit that was previously interpreted to be the eastern margin of South Zone mineralization.
Five (5) of the South Zone holes were drilled at a 25-meter spacing along strike (west to east) for modelling purposes and to evaluate the up-dip control of high-grade mineralization seen in 2022 drill holes. Assays are pending from holes WC-26-232 and WC-26-233, which were drilled 50 meters to the west of intercepts reported in this press release.
Figures and Tables
Figure 1 shows a 3D cross sectional view of Zone #9, the South Zones, and the deeper, high-grade West Deep Zone. Figure 2 provides a cross section of 464,050E and the location of drill holes WC-26-234 and WC-26-235 as well as WC-26-230 and the lower part of WC-26-231. Figure 3 is a cross-sectional view of WC-26-227, 150 meters to the east of Figure 2. Table #1 includes a summary of selected gold intercepts announced in this press release.
Figure 1 - 3D Cross Section Looking East
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Figure 2 - Cross Section 464,050E
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Figure 3 - Cross Section 464,200E
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Table 1 - Assay Results
| Zone #9 Intercepts | ||||||||
| Hole ID | Azimuth | Dip | TD¹ | From (m) | To (m) | Length (m) | Length(TT)² | Au (g/t) |
| WC-26-227 | 180 | -50 | 444 | 26.00 | 37.00 | 11.00 | 9.97 | 2.14 |
| including | 26.00 | 29.00 | 3.00 | 2.72 | 5.16 | |||
| WC-26-227 | 44.00 | 53.00 | 9.00 | 8.46 | 0.47 | |||
| WC-26-234³ | 182 | -52 | 459 | 242.00 | 264.00 | 22.00 | 21.25 | 2.10 |
| including | 253.00 | 262.97 | 9.97 | 9.63 | 3.56 | |||
| including | 257.06 | 262.97 | 5.91 | 5.71 | 5.04 | |||
| WC-26-235³ | 182 | -52 | 528 | 287.25 | 306.00 | 18.75 | 18.58 | 3.00 |
| including | 296.03 | 306.00 | 9.97 | 9.88 | 5.13 | |||
| including | 298.05 | 302.15 | 4.10 | 3.94 | 8.81 | |||
| Upper South Zone Intercepts | ||||||||
| Hole ID | Azimuth | Dip | TD¹ | From (m) | To (m) | Length (m) | Length(TT)² | Au (g/t) |
| WC-26-227 | 180 | -50 | 444 | 149.50 | 154.50 | 5.00 | 4.53 | 0.72 |
| including | 153.00 | 154.50 | 1.50 | 1.36 | 1.18 | |||
| WC-26-227 | 211.00 | 215.00 | 4.00 | 3.06 | 1.06 | |||
| including | 212.00 | 213.20 | 1.20 | 0.92 | 3.23 | |||
| WC-26-227 | 219.00 | 221.05 | 2.05 | 1.68 | 3.87 | |||
| including | 220.05 | 221.05 | 1.00 | 0.82 | 7.77 | |||
| WC-26-228 | 180 | -52 | 369 | 21.90 | 23.40 | 1.50 | 1.30 | 1.50 |
| WC-26-231 | 180 | -51 | 393 | 89.15 | 90.00 | 0.85 | 0.74 | 2.26 |
| WC-26-231 | 109.00 | 112.00 | 3.00 | 2.82 | 1.00 | |||
| Mid South Zone Intercepts | ||||||||
| Hole ID | Azimuth | Dip | TD¹ | From (m) | To (m) | Length (m) | Length(TT)² | Au (g/t) |
| WC-26-227 | 180 | -50 | 444 | 272.70 | 277.80 | 5.10 | 4.62 | 2.61 |
| including | 275.80 | 277.80 | 2.00 | 1.81 | 6.15 | |||
| WC-26-228 | 180 | -52 | 369 | 230.50 | 240.25 | 9.75 | 8.84 | 0.51 |
| including | 234.50 | 238.75 | 4.25 | 3.85 | 0.99 | |||
| WC-26-229 | 180 | -52 | 369 | 230.20 | 232.20 | 2.00 | N/A | 1.01 |
| WC-26-230 | 180 | -52 | 372 | 208.50 | 225.60 | 17.10 | 15.50 | 0.43 |
| including | 219.40 | 225.60 | 6.20 | 5.62 | 0.58 | |||
| WC-26-230 | 251.50 | 267.55 | 16.05 | 14.55 | 0.40 | |||
| including | 262.00 | 267.55 | 5.55 | 5.03 | 0.55 | |||
| WC-26-231 | 180 | -51 | 393 | 203.00 | 204.00 | 1.00 | 1.00 | 1.98 |
| WC-26-231 | 213.30 | 219.00 | 5.70 | 5.51 | 0.78 | |||
| WC-26-231 | 241.97 | 247.20 | 5.23 | 4.91 | 0.93 | |||
| WC-26-231 | 253.00 | 255.00 | 2.00 | 1.88 | 1.75 | |||
| Lower South Zone Intercepts | ||||||||
| Hole ID | Azimuth | Dip | TD¹ | From (m) | To (m) | Length (m) | Length(TT)² | Au (g/t) |
| WC-26-228 | 180 | -52 | 369 | 291.50 | 299.00 | 7.50 | 7.05 | 1.23 |
| including | 291.50 | 294.65 | 3.15 | 2.96 | 2.06 | |||
| WC-26-229 | 180 | -52 | 369 | 298.30 | 301.00 | 2.70 | N/A | 0.76 |
| WC-26-231 | 180 | -51 | 393 | 330.60 | 334.60 | 4.00 | 3.86 | 0.67 |
| ¹TD is the Total Depth of the Drill Hole ²Length (TT) is the intercept's true thickness, calculated from mineralization angles relative to core axis; Zone #9 true thickness is an average of 96%; South Zone true thickness is an average of 90% ³Assays pending from Upper South Zone | ||||||||
The Company is currently drilling on the down-plunge projection of Zone #9 approximately 450 vertical meters below surface. Assays are pending for the drill holes in that area.
Technical Content and Qualified Person
The technical content of this news release has been reviewed and approved by Leah Page, P.Geo, Vice President, Exploration and a Qualified Person ("QP") as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Quality Assurance (QA) / Quality Control (QC)
Quality Control and Assurance procedures and protocols are executed to ensure sampling and analysis of all exploration work is conducted in accordance with best practices. Core produced at the West Cache Property is delivered to the Company's Timmins logging facility by the drill contractor with all logging, cutting, labeling, and bagging completed under supervision of Qualified Geologists. NQ sized core is predominantly sawn in half with one half of the core prepared for shipment, while the other half is retained for future assay verification.
Core samples are transported from the Company's Timmins logging facility to AGAT Laboratories in Thunder Bay, Ontario for both prep and 30g fire assay analysis. Results are reported in batches of 60-72 samples and average 4-5 QC samples per certificate. Commercially prepared certified reference material (CRM) and duplicate samples are inserted at an average rate of 6% to 8%. At least one blank, standard and duplicate (pulp or coarse) is inserted for every 50 samples and additional QC samples are inserted at the Geologist's discretion. All samples reported have been checked against the Company's internal, and the Lab's, quality control samples.
About the West Cache Gold Project
The West Cache Gold Project is an advanced-stage gold exploration project covering approximately 11,600 ha located 13 km west of Timmins, Ontario on Provincial Highway 101. It is situated in the Western Porcupine Gold Camp along the Destor-Porcupine Fault Zone within the Abitibi greenstone belt, approximately 7 km northeast of Pan American Silver's Timmins West Mine. The mining lease area hosts the current Mineral Resource Estimate near the center, with additional exploration targets to the north and south. The Mineral Resource Estimate is contained within the Porcupine Sedimentary Basin, a favourable litho-structural corridor with over 5 km of strike-length on the Property. Mineralization is open in all directions and at depth.
About Galleon Gold
Galleon Gold is advancing the West Cache Gold Project with a disciplined, de-risking strategy centered on resource growth and an upcoming 86,500-tonne bulk sample program, positioning the Company to unlock long-term shareholder value.
For further information:
Galleon Gold
R. David Russell
Chairman and CEO
T. (416) 644-0066
info@galleongold.com
Graham Farrell
Investor Relations
T. (416) 842-9003
grahamfarrell@galleongold.com
Forward-Looking Statements
This news release contains certain "forward looking statements", as defined under applicable Canadian securities laws, that reflect the current views and/or expectations of Galleon Gold with respect to its long-term strategy, financing plans, proposed work, plans, bulk sample program and other reports including the PEA for its projects. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which Galleon Gold operates. Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding the use of the proceeds of from the Facility, the sufficiency of funds to complete and the completion of the potential mineralization and resources, exploration results, expectations, plans, and objectives of Galleon Gold are forward-looking statements that involve various risks. The following are important factors that could cause Galleon Gold's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions and uncertainty of access to additional capital, risks inherent in mineral exploration, delays in the receipt of government approvals, risks associated with development, construction, mining operations and third party contractor activities, risks related to unanticipated events related to health, safety and environmental matters. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Galleon Gold undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Source: Galleon Gold Corp.