Galleon Gold Enters into Agreement to Repurchase Royalty on the West Cache Project

Core Viewpoint - Galleon Gold Corp has entered into an agreement to repurchase a 3% net smelter return royalty on its West Cache Gold Project from Newmont Corporation, which is expected to enhance the company's future economic position [1][2]. Group 1: Agreement Details - The agreement allows Galleon Gold to initially repurchase 1% of the 3% royalty for C$1,000,000, followed by a payment of C$10,000,000 for the remaining 2% [1]. - The transaction is anticipated to close on or before December 31, 2025 [1]. Group 2: CEO Commentary - The CEO of Galleon Gold expressed satisfaction with the agreement, noting that eliminating the royalty at a pre-development price could lead to significant future payouts from the West Cache project [2]. Group 3: Royalty Background - The royalty was originally granted to Placer Dome (CLA) Limited in 1999 and has changed hands through various agreements, with Newmont being the current holder [2]. Group 4: Investor Relations - Galleon Gold has retained North Star Investor Relations Inc. to provide comprehensive investor relations services, including outreach and marketing campaigns [3]. - The company will pay North Star IR a monthly retainer of $10,000 for a term of 12 months starting October 15, 2025 [4]. Group 5: Company Overview - Galleon Gold is focused on the West Cache Gold Project located in Timmins, Ontario, and is preparing for its first test mining with an 86,500-tonne underground bulk sample [5]. - The company's strategy includes derisking the project while pursuing grassroots exploration to enhance asset value [5].