Progress On Underground Bulk Sample Permitting At West Cache Gold Project

TORONTO - Galleon Gold Corp., reported positive progress of permitting activities at its West Cache Gold Project in Timmins, Ontario. R. David Russell, President and CEO, said, “Permitting for test mining is always an exciting time in the life cycle of a junior mining company, it is the definitive start of transitioning from an exploration story to a bona fide exploration and development company. We initiated baseline studies soon after we acquired the West Cache project in 2020, and this early work has been invaluable in our approach to developing the project in a responsible manner. It is rewarding to see the detailed design work for the box cut, decline, stopes and site plan coming together. We look forward to a busy 2023 as we complete the permitting process, engage with our local communities and plan to break ground on Timmins' newest gold mine."

The proposed West Cache Advanced Exploration Program, includes: 1) the development of a ramp and portal to access the Zone #9 deposit, 2) collection of a bulk sample and 3) exploration drilling at depth. The Company is pleased to report progress on the following initiatives: Design of Raise, Portal and Decline - Detailed engineering for the main ramp, vent raise, cut-outs for muck bays as well as diamond drill stations has been completed. The mine plan has been developed for single panel transverse longhole open stoping based on a two-production level and four stope plan. The bulk sample is estimated at 86,500 tonnes of ore @ 8.13 g/t for 22,600 ounces of gold.

Crown Pillar Assessment - A geomechanical core drill hole program has been completed under the supervision of Knight Piesold (9 holes for approximately 900m). The information gathered in this drill program is being used to complete the crown pillar stability report and ground control support plan for the excavation work for the box cut and portal.

Design of Mine Service Infrastructure / Site Plan - The Site Plan has been designed to include administrative buildings (core shack, assay lab, mine dry /rescue buildings and a mechanic shop) along with surface stockpile areas (both ore and waste), haul roads and explosive magazines and ponds. A geotechnical overburden drill program will commence in early December over the planned infrastructure areas, approximately 22 geotechnical overburden holes will test the overburden/soil profile up to and including the first few meters of bedrock. In addition, approximately 20 geotechnical test pits will be dug with an excavator in order to reveal the near surface soil conditions across the site. Test pits are a relatively low-cost solution to gather subsurface conditions for siting shallow foundations, the test pits are backfilled upon completion to return the ground to pre-existing conditions.

Hydrogeology Assessment & Power Grid Evaluation - The hydrogeology assessment has been completed including the water balance assessment and pump sizing. This information is currently being used in the electrical layout and power grid connection evaluation which will establish the peak site electrical load, horsepower ratings for the largest motors, and then develop a preliminary high and medium voltage power distribution system single line drawing for the site. A System Impact Assessment (SIA) application will then be compiled and submitted to the IESO (Independent Electricity System Operator) and Hydro One Networks for review and analysis.