TORONTO: September 29, 2020. Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon Gold”) is pleased to announce results that confirm the discovery of a new high-grade gold zone, adding an exciting new dimension to its 100% owned West Cache Gold Project, Timmins, Ontario.
•WC-20-42 has intersected 7.44 g/t Au over 10.7 meters, including separate sub-intervals of 3.3 m at 8.88 g/t Au and 2.9 m of 10.19 g/t Au. More detailed assay, drillhole and geologic data is provided in Table 1 below.

WC-20-042 (Hole 42) was drilled to offset WC-20-030 (Hole 30) which returned results of 7.16 g/t Au over 9.7 m with a sub-interval of 3.0 m of 14.75 g/t Au (see press release dated September 9, 2020). Hole 42 is located approximately 50 meters along strike to the west of the Hole 30, the “discovery hole” for Zone #9.

Galleon Gold President and CEO, R. David Russell, comments, “These latest results are a major confirmation that larger and higher grade gold zones can occur within 300 meters of the surface. The robust grades and widths to the mineralization in these areas will be key contributors in driving project economics at West Cache. We are well located on a major gold belt and have top notch geologists who have a very good understanding of the dominant geological factors, which has allowed us to get off to a great start with our Zone #9 high grade intercepts.”

The location and orientation of Shear Zone #9 up-dip from the West Deep area discovered in 2010, suggests that the recently discovered Hole 30 and 42 mineralization may be linked to the West Deep. Geologic similarities linking the new discovery to the much deeper West Deep zone, include: 1) host rock lithology, 2) a strong sulfide association, and 3) similar gold grades and widths. Interestingly, West Deep “discovery hole” TPW-10-30 intercepted 9.21 g/t Au over 11.0 meters (0.268 opt Au over 36 feet). A cross sectional view of WC-20-042 and how it relates to WC-20-030 and the West Deep area is shown in Figure 1 below. An updated drillhole plan map is provided on the Company website at: www.galleongold.com

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