Eric Sprott Announces Changes to His Holdings in Galleon Gold Corp.

Core Viewpoint - Eric Sprott, through 2176423 Ontario Ltd., acquired 5,000,000 units of Galleon Gold Corp. for $3,000,000, indicating a significant investment in the company [1] Group 1: Acquisition Details - The acquisition was made at a price of $0.60 per unit, with each unit consisting of one common share and one-half of a share purchase warrant [1] - Each whole warrant allows the holder to acquire one share at an exercise price of $0.75 until December 4, 2026 [1] Group 2: Ownership Changes - Prior to the acquisition, Sprott owned 13,958,510 shares, $2,000,000 in convertible debentures, and 3,030,000 warrants, representing approximately 18.0% of outstanding shares undiluted and 29.2% on a partially diluted basis [2] - Post-acquisition, Sprott's holdings increased to 18,958,510 shares and 5,530,000 warrants, representing approximately 14.9% undiluted and 23.7% partially diluted [2] - The acquisition, along with other share issuances, resulted in a decrease of approximately 6.7% in holdings on a partially diluted basis since the last early warning report [2] Group 3: Investment Intentions - The securities are held for investment purposes, with a long-term view, and Sprott may acquire additional securities or sell existing ones depending on market conditions [3]