Galloper Gold Clarification Release

Core Viewpoint - Galloper Gold Corp. has been awarded the Exempt Mineral Lands (EML) Mineral Licence for the historic Lunch Pond South Extension (LPSE) Resource on Glover Island, which contains approximately 178,800 ounces of gold [1][2]. Summary by Sections Acquisition and Resource Details - The EML was awarded through a Request for Proposal (RFP) process that began in November 2024, covering an area of 1,926 hectares [2]. - The LPSE resource was delineated by Mountain Lake Minerals in 2012, with a total of ~178,800 ounces of gold indicated and inferred [2]. - The technical report from 2017 confirms the reliability of the historical estimate, as no exploration work has been conducted on the LPSE deposit since its release [3]. Geological Context - The LPSE deposit is situated in the southwestern part of an 11 km mineralized corridor known as the Glover Island Trend (GIT), which hosts 17 mineral prospects [4]. - The GIT is associated with significant mineralization, including gold and base metals, and is located near the Cabot Fault, which is known for its prolific mineralized nature [4]. Management Commentary - The CEO of Galloper Gold expressed enthusiasm about the acquisition, stating it positions the company for significant growth in gold deposits and mining development in Canada [5]. - The acquisition adds a known 43-101 resource to Galloper's portfolio, indicating a promising future for the company [5]. Resource Estimates - The mineral resource estimate includes: - Open Pit: 993,000 tonnes at an average grade of 1.72 g/t Au indicated and 1,703,000 tonnes at 1.59 g/t Au inferred [6][7]. - Underground: 36,000 tonnes at 2.99 g/t Au indicated and 373,000 tonnes at 2.78 g/t Au inferred [6][7]. - The total resource estimate combines both open pit and underground classifications, totaling 1,029,000 tonnes at an average grade of 1.76 g/t Au indicated and 2,076,000 tonnes at 1.81 g/t Au inferred [7]. Future Plans - An exploration program is set to begin in the fall, focusing on expanding the Lucky Smoke prospect and drilling the LPSE deposit and other prospects within the new Mineral Licence [11]. Company Overview - Galloper Gold Corp. is focused on mineral exploration in the Central Newfoundland Gold Belt, with its flagship Glover Island Property located 24 km southeast of Corner Brook [13].