Galantas Gold (GAL) investor relations material

Andacollo restart and production

• Historical mine with 6M oz of resources: ~1.5M indicated and 4.5M inferred; prior operators produced over 1M oz, with peak output above 130,000 oz.

• Restart capital estimated at $60M–$70M; management said financing is in place, with existing infrastructure including heap-leach pads and an ADR plant.

• ADR plant refurbishment was targeted for completion by late November to mid-December 2026; the 20,000-ton/day replacement crusher from Mexico is the main commissioning gate.

• Crusher disassembly and shipment to Chile are underway; the plant is permitted, with customs cited as a potential delay risk. Management hoped the project would be ready by end-March 2027.

• Plan is to bring the crusher to site in early 2027, commission it, and begin stacking pads in Q2; gold production is targeted in 2027, with cyanide circulation on existing pads by late 2026 treated as upside, not base case.

Resource and strategic upside

• Heap-leach metallurgy has a production history; management expects 70%–75% recovery and cited 300,000–400,000 oz previously defined in historical pads.

• Resource is drilled to ~250 m; management sees potential to extend it at depth and grow through drilling, including high-grade zones and oxide copper near the property boundary.

• About 90M tons containing 1.2M oz of gold have been drilled beyond the constrained pit boundary but are not included in the resource; mining access would require resolving the boundary with Teck.

• Management wants to explore possible cooperation or an acquisition of Teck’s adjacent Carmen de Andacollo asset, conditional on an opportunity arising; it views the combined area as one large porphyry-related system.

Indiana exploration

• Historical resource across Bondadosa and Flor de Espino is ~5M tons, ~330,000 oz of gold at 2.25 g/t and ~65,000 tons of copper at 1.3%; mineralization is open at depth and along strike.

• Mapping and trenching identified additional north-south structures and disseminated mineralization; an aggressive drill program will test potential for a larger, bulk-mineable resource before a full production push.

• Capital allocation is focused ~90% on Andacollo and 10% on Indiana; Indiana plans call for exploration and limited underground development, keeping cash burn minimal.