Metallurgical Study At The West Cache Gold Project

TORONTO - Galleon Gold Corp. reported the initiation of a metallurgical study at the Company's 100% owned West Cache Gold Project. The primary purpose of the Study is to determine the optimal flow sheet parameters for Zone #9 mineralized material, the results are expected to be incorporated into the preparation of the Company's upcoming 2021 Preliminary Economic Assessment (PEA).

Four HQ drillholes from Zone #9 were selected to compile samples for the Study: WC-21-172 at 6.1 g/t Au over 15.0 m (230 to 245 m) including 9.89 g/t Au over 7.0 m (231 to 238 m); true thickness estimated at 98% - WC-21-173 at 9.37 g/t Au over 6.0 m (63.6 to 69.6 m) including 13.19 g/t Au over 4.0 m (63.6 to 67.6 m); true thickness of estimated at 94% - WC-21-174 at 8.28 g/t Au over 13.04 m (211 to 224.04 m) including 14.58 g/t Au over 6.04 m (218 to 224.04 m); true thickness estimated at 98% - WC-21-191 at 6.88 g/t Au over 7.0 m (188 to 195 m) including 13.83 g/t Au over 2.0 m (192 to 194 m); true thickness estimated at 94%.

The Study will be conducted on approximately 50 kg of representative core drawn from the four drillholes and divided into three composite samples: 1) high-grade at 15.31 g/t Au, 2) mid-grade at 5.52 g/t Au, and 3) low-grade at 1.40 g/t Au. Drillhole targeting for the metallurgical holes was designed to: 1) fill gaps in the drillhole pattern, 2) provide test material over a planned vertical and horizontal range, 3) test the full range of mineralogic variation, 4) compare three grade ranges, and 5) include select wallrock samples. Hole 173 targeted near surface mineralization (50 m below surface), while holes 172 and 191 intersected the structure 150 to 200 m below surface. Hole 174 tested the lesser drilled western side of the shoot where higher-grade spikes have been encountered.

R. David Russell, CEO and President, said, "Previous metallurgical work on the project was based on core from the proposed pits and underground, hosted largely in the Quartz-Feldspar Porphyry units. In this study, we are focused solely on the Zone #9 mineralized shoot - hosted in the greywacke-argillite dominant sediment package south of the Porphyry. These results will be important to the valuation and economics of the project and will be included in the PEA. We will also be able to use this data when evaluating custom milling options for the bulk sample."