Galleon Gold’s Initial Metallurgical Studies Show High Gold Recovery for

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Algemeen advies 02/06/2021 14:26
TORONTO: June 2, 2021. Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon
Gold”) is pleased to announce positive results from the initial metallurgical test work (the “Study”) performed on samples from Zone #9 at its 100% owned West Cache Gold Project, Timmins, Ontario.
Whole Ore Cyanide Leaching Tests Recovered up to 96% Au
Note from the CEOR. David Russell CEO and President of Galleon Gold comments, “These initial test results are outstanding. We are very pleased with the recovery rates which indicate Zone #9 mineralized material will be easily recoverable using a standard processing route. The results are now in the hands of P&E Consultants who will be utilizing the data in the
upcoming PEA. We look forward to receiving the remaining results from the Met Study and will start to plan optimization studies that can be implemented during the bulk sample phase.”
Head Grade AnalysisThe Study was conducted on three nominal 50 kg composites that were selected from 1 meter sample intervals from four HQ-sized drill holes. Each of the composites were designed to test gold recoveries over a representative range of grades, mineralogic variation and sample location. All results used a standard cyanide bottle roll technique with carefully maintained concentrations and pH. Head grade analysis is reported as:
Low Grade Composite 1.77 g/t Au
Mid-Grade Composite 5.10 g/t Au
High Grade Composite 21.9 g/t Au
Multi element analysis based on XRF analysis indicates minimal arsenic (As) levels with As % measured at 0.002, 0.005 and 0.007 on the low, mid and high grade composites respectively.
Whole Ore CyanidationWhole ore cyanide leach testing using three grind sizes was conducted for each of the three composite samples. Results show that recoveries increased with finer grinds and that 24-30 hour retention time was optimal for recoveries. Interestingly, slightly higher recoveries were achieved on the highest grade test material. Results are shown in Figure 1, while Figure 2 shows a plan view of the HQ drillhole collars and intercepts that were
used to form the composite samples.

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Comments On All Drillhole Intercepts Noted AboveAll WC drillholes are south directed angle holes with initial inclinations of -45 to -60
degrees from horizontal. Most intercepts are near-perpendicular to the mineralized zone such that the drilled intercepts typically average 94-97% of the true thickness of the interval. Drillhole information in this new release is based on HQ sized equipment. A full copy of the assays and drill hole statistics from the current drill program is available and updated regularly on the Company’s website.

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