Galleon Gold Announces Results of Annual and Special Meeting of Shareholders

Toronto, Ontario--(Newsfile Corp. - November 24, 2020) - Galleon Gold Corp. (TSXV: GGO) (the "Company" or "Galleon Gold") is pleased to announce that all of the resolutions put forth at the Annual and Special Meeting of Shareholders (the "Meeting") held on November 24, 2020 were approved.

At the Meeting, shareholders elected the following directors to hold office for the ensuing year: R. David Russell, Christian Dupont, Thomas Kofman, James T. O'Neil Jr., Mario Colantonio, Gerhard Merkel, Michael Hobart and Richard F. Nanna.

Shareholders approved resolutions to re-appoint Grant Thornton LLP as independent auditors of the Company and for the continuation of the stock option plan. Shareholders also voted to approve a special resolution authorizing a consolidation of all of the issued and outstanding common shares of the Company as more fully described in the management information circular. At this time, the Company has no immediate plans to proceed with the consolidation.

Following the Meeting, the Company has authorized and approved the grant of 600,000 incentive stock options to new director Richard F. Nanna. The stock options are priced at $0.105, vest immediately and expire on November 24, 2025.

About Galleon Gold

Galleon Gold is a North American exploration and development company. Eric Sprott holds approximately 23% of the Company's outstanding common shares and is also the Company's partner on the Neal Gold Project in Idaho. Drilling is currently underway at the Company's flagship project, the West Cache Gold Project, located 13 km from Timmins, Ontario.

FOR FURTHER INFORMATION:
Galleon Gold
R. David Russell
Chairman and CEO
T. (416) 644-0066
[email protected]
www.galleongold.com

Forward Looking Statements

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, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68890