Toronto, Ontario – May 1, 2026 – Galleon Gold Corp. (TSXV: GGO) (OTCQX: GGOXF) (FSE: 3H90) (the “Company” or “Galleon Gold”) announces that under the terms of the convertible debentures (the “Convertible Debentures”) issued on April 12, 2024, April 19, 2024 and April 29, 2024 (see news releases dated April 12, 19, and 29, 2024) it has elected to satisfy its obligation to pay interest accrued by issuing common shares (the “Common Shares”).

Under the terms of the Convertible Debentures, no fractional Common Shares will be issued upon payment of the interest obligation.  The Common Shares will be priced based on the greater of the Market Price (as defined in the policies of the TSXV) and the 15-day volume-weighted average closing price of the Common Shares on the TSXV preceding the applicable interest payment date.

The issuance of Common Shares in payment of interest remains subject to the approval of the TSX Venture Exchange (the “Exchange”). The Common Shares to be issued in respect of the Interest Payment will be subject to a hold period of four months from the date of issuance.

Convertible Debentures issued on April 12, 2024 and April 19, 2024

An aggregate of $86,537 in interest accrued on the Convertible Debentures will be satisfied by issuing to such debenture holders for the interest payment due April 12, 2026 and April 19, 2026, an aggregate of 83,551 common shares of the Company.

Convertible Debentures issued on April 29, 2024

An aggregate of $27,861 in interest accrued on the Convertible Debentures will be satisfied by issuing to such debenture holders for the interest payment due April 29, 2026 an aggregate of 27,315 common shares of the Company.

Certain officers and an insider and of the Company are holders of the Convertible Debentures.  As a result, the Interest Payment is considered to be a “related party transaction” under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”).  The Interest Payment in respect of this individual is exempt from the minority approval and formal valuation requirements of MI 61-101 pursuant to subsections 5.5(b) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the debt, nor the fair market value of the shares to be issued in settlement of the debt, exceeds 25% of the Company’s market capitalization.

About Galleon Gold

Galleon Gold is advancing the West Cache Gold Project with a disciplined, de-risking strategy centered on resource growth and an upcoming 86,500-tonne bulk sample program, positioning the Company to unlock long-term shareholder value.  

For further information:
Galleon Gold
R. David Russell
Chairman and CEO
T. (416) 644-0066
info@galleongold.com

Graham Farrell    
Investor Relations
T. (416) 842-9003
grahamfarrell@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, financing plans, 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 the use of the proceeds of from the Facility, the sufficiency of funds to complete and the completion of the 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.