Toronto, Ontario--(Newsfile Corp. - September 23, 2025) - Galleon Gold Corp. (TSXV: GGO) (FSH: 3H90) (the "Company" or "Galleon Gold") is pleased to announce it has initiated a soil sampling program at its 100% owned West Cache Gold Project ("West Cache" or the "Project") in Timmins, Ontario. The purpose of the program is to follow up on previous soil programs to further define potential drill targets on untested parts of the property. The Company anticipates collecting approximately 1,000 samples for MMITM (Mobile Metal Ion) analysis. MMITM is a method of soil geochemistry known to be capable of detecting buried mineralization.
The Company sees significant exploration upside at West Cache, with the potential to extend mineralization along strike 1.5-kilometers to the southwest towards Pan American Silver's property and to the north into metavolcanic stratigraphy known to host gold deposits elsewhere in the Timmins camp. Exploration along both regional geological trends (southwest-northeast) and potential 'feeder' trends (northwest-southeast) around the current Mineral Resource Area is planned as part of a grassroots program to compliment the ongoing work toward the Company's bulk sampling program.
West Cache - Gold Under Cover
Extensive overburden cover at West Cache, in part, is why the Project remained relatively undeveloped until nearly a century after the Timmins camp was discovered. Early exploration techniques such as prospecting and trenching are generally not feasible due to glacial cover, and while some historic mines in the camp were discovered by visible gold at surface, there is no known outcrop within the Porcupine Basin at West Cache. The gold mineralization in the existing Mineral Resource Area was initially identified with geophysics and shallow drilling by Dome Canada in the mid-1980s.
From 2021 to 2024 the Company collected and analyzed approximately 2,200 soil samples to evaluate geochemical responses over known gold zones and develop a reconnaissance grid over approximately nine square kilometers of the Porcupine Metasedimentary Basin in areas that have seen little to no 'boots on the ground' exploration. Using results from the previous soil programs, which are presented in Figure 1, the 2025 program aims to infill and refine existing multi-element anomalies in four main areas.
CEO Comment
David Russell, President and CEO of Galleon Gold commented, "We have spent considerable effort on permitting and engineering for our planned 86,500 tonne bulk sample at West Cache, but with less than 10% of the Project drill-tested, the untapped opportunities and the possibility of uncovering valuable resources need to be prioritized as well. Geochemical sampling is an inexpensive grassroots exploration technique that can assist with focusing drill targets as we systematically explore around and outside the bounds of our existing Mineral Resource area. While future drilling within and at the margins of the mineralized areas will likely expand our resource base, exploration drilling in other areas may lead to other important discoveries that can help us unlock the full potential of the Project."
Previous Soil Sampling Programs
The Company completed an MMITM orientation soil sampling program over three known gold zones in 2021 to determine elemental responses over different styles and depths of known mineralization at West Cache. Over subsequent programs outside of the Mineral Resource Area, geochemical sampling grids covering the regional geological trend were sampled to better understand soil types encountered on the property, B-horizon depth and possible locations for till sampling. All samples were analyzed by Aqua Regia ("AR") digestion with a subset of samples undergoing MMITM analysis. Figure 1 summarizes the results of the previous soil programs and identifies the main areas (A1-A4) that will be the focus of the 2025 soil sampling program. The anomalies in Figure 1 were interpreted by plotting response ratios generally greater than the 90th percentile and considered proximal samples above the 80th percentile response.
Figure 1 - Soil Anomalies and 2025 Sampling Areas
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Even if not enriched in mineralized zones in bedrock, pathfinder elements such as Ag, Cu, and Mo are more mobile than Au in the surface environment and can assist with target generation. The predominant sulphides associated with gold zones at West Cache are pyrite and sphalerite, thus zinc and cadmium (as a proxy for sphalerite) anomalies were heavily weighted as focused soil anomalies exist for those elements above known shallow gold zones.
Summary of New Target Areas
Anomaly A1 was identified approximately 1.5 kilometers to the southeast of Zone #9 (a high-grade gold zone that is the focus of the current bulk sample program). In 2024, reconnaissance Aqua Regia samples returned anomalous copper and silver values in sandy B-horizon soil that generally responded with nil to low values in sand elsewhere on the property. MMITM follow-up returned response ratios up to 50X background for gold (2.5 ppb) and up to 42X for zinc, which are comparable to responses seen over Zone #9. Twelve out of forty-seven samples yielded MMITM response ratios above 10X background for silver and zinc. Figure 2 compares combined Cu+Pb+Zn and Ag responses for both Aqua Regia and MMITM analyses at Anomaly A1 and outlines the 2025 sampling area.
Figure 2 - Anomaly A1 Soil Results from 2024 Program
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Anomalies A2 and A3, along the regional geological trend to the west of two known gold zones, are planned to be followed up with MMITM analysis as part of the 2025 program. Approximately 1.5-kilometers of strike exists from known gold zones to the western property boundary that has not been drill-tested where soil anomalies appear to be consistent with potential VTEMTM conductors. Aqua Regia sampling on the western trend returned a broad anomaly of elevated Cu, Ag, Zn, Cd, Pb and multiple other pathfinder elements. When data was normalized by soil type and expected underlying bedrock geology, the anomalies concentrated around geophysical anomalies and coincided with some areas of elevated AR gold-in-soil.
Anomaly A4, to the north of Highway 101 and within Tisdale metavolcanic stratigraphy near the Rusk contact, returned the highest density of anomalous MMITM gold- and tellurium-in-soil outside of the Mineral Resource Area. Seven out of thirty samples returned over 5X background response for Au (up to 32X) and nine samples ran 10 to 30 ppb Te. A second anomaly 600 meters to the east of A4 may be evaluated if time permits in the 2025 field season where an area of sixteen MMITM samples yielded five values over 20 ppb Mo and up to 44 ppb (23X background) and eight values over 3,000 ppb Cu and up to 6,230 ppb (35X background). MMITM and AR interpretations generally aligned at Anomaly A4, and lines are planned to extend into 'background' and infill samples to a denser spacing.
Technical Content and Qualified Person
The technical content of this news release has been reviewed and approved by West Cache Gold Project Manager Leah Page, P.Geo (ON, NS) a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Technique and Data Integrity
Samples weighing approximately 250 grams were collected 10-20 cm below the organic-inorganic interface (B-horizon). Whenever possible, small pits were dug and sample material extracted with a plastic trowel and bagged at the sample site into plastic Ziploc-type bags. In areas of thicker organics, an auger was utilized to collect the sample and was cleaned between sites. Duplicate samples were collected at a rate of approximately one in every fifty samples. Sealed samples were sent to SGS Canada in Burnaby, BC for analysis by GE-MMIM (53-elements). MMITM is a proprietary analytical method that measures metal ions that move up-dip from buried bedrock sources and become loosely bound to soil grains. Aqua Regia samples were collected in the same manner and were analyzed at AGAT Laboratories in Thunder Bay, ON by method 201-073 (36-elements) or 201-074 (51-elements).
Due to elemental response variability within different soil and overburden types, datasets were normalized by soil type, and an average background value was calculated to determine a sample's response ratio. Generally, clay-rich samples or those under deep organics tend to have greater adsorption of heavy metals that can also be indicators of gold mineralization (i.e. copper and lead). Target identification was based on both normalized response ratios and raw values and considered Quaternary geology and glacial features and their potential influence on metals and metal ions in the surface environment.
About the West Cache Gold Project
The West Cache Gold Project is an advanced-stage gold exploration project covering approximately 11,580 ha located 13km west of Timmins, Ontario on Provincial Highway 101. It is situated in the Western Porcupine Gold Camp along the Destor-Porcupine Fault corridor within the Abitibi Greenstone Belt, approximately 7 km northeast of Pan American Silver's Timmins West Mine. The Mining Lease area hosts the current Mineral Resource near its center, with additional exploration targets to the north and south. The Mineral Resource Estimate is contained within the Porcupine Metasedimentary Basin, a favourable litho-structural corridor with over 5 km of strike length within the Project. Mineralization is open in all directions and at depth.
About Galleon Gold
Galleon Gold is an advanced exploration and development company focused on the West Cache Gold Project in Timmins, Ontario. The Project is located 7 km northeast of Pan American Silver's Timmins West Mine and 14 km southwest of Discovery's Hollinger Mine. The Company is gearing up for its first test mining at West Cache. The 86,500-tonne underground bulk sample is designed to provide valuable data for pre-feasibility studies. Galleon Gold's strategy is to systematically derisk the Project while continuing to grow the asset through grassroots exploration.
For further information:
Galleon Gold
R. David Russell
Chairman and CEO
T. (416) 644-0066
info@galleongold.com
www.galleongold.com
Forward-Looking Statements
This news release contains certain "forward looking statements", as defined under applicable Canadian securities laws, that reflect the current views and/or expectations of Galleon Gold with respect to its long-term strategy, proposed work, plans, bulk sample program and other reports including the PEA for its projects. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which Galleon Gold operates. Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Galleon Gold are forward-looking statements that involve various risks. The following are important factors that could cause Galleon Gold's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions and uncertainty of access to additional capital, risks inherent in mineral exploration, delays in the receipt of government approvals, risks associated with development, construction, mining operations and third party contractor activities, risks related to unanticipated events related to health, safety and environmental matters. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Galleon Gold undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Galleon Gold Corp.
