Remaining Interest Acquired In The Neal Idaho Gold Project

TORONTO - Galleon Gold Corp. has entered into an agreement with 2176423 Ontario Ltd., (a corporation that is beneficially owned and controlled by Eric Sprott), to acquire the 100% interest in a stockpile of mineralized material located on the Neal Idaho Project, 27 km southeast of Boise, Idaho, together with its 20% interest in the Project in consideration of the issuance by the Company to the Vendor of 2,000,000 common shares of Galleon Gold. Upon closing of the transaction, the Company will hold a 100% leasehold interest in the Project and Eric Sprott's ownership of Galleon Gold will increase to 21.45%.

The Stockpile, a 13,900-ton bulk sample, was derived from an open cut area in 2016-2017. As the material was trucked from the open cut to the Stockpile, approximately 741 samples were collected and assayed at an independent laboratory. Results of the sampling indicate the Stockpile graded at 0.132 opt (4.54 gpt Au), equivalent to approximately 1,835 ounces of gold in-situ. The Company is investigating various transport and processing options to determine the best means of handling the Stockpile material.

This transaction paves the way for a simpler operating structure for the Project, while enabling Eric Sprott to participate in the Project's advancement through his equity ownership in Galleon Gold.

The transaction is subject to final approval from the TSX Venture Exchange and the Shares are subject to a hold period of four months and a day under applicable Canadian securities laws.

David Russell, President and CEO of Galleon Gold, said, "We are very pleased that Eric continues to demonstrate his confidence in Galleon Gold. He has consistently supported the Company since 2019 through significant investments. We look forward to driving value for him and all our shareholders as we advance both the Neal and our West Cache Gold Projects."