Galleon Gold Corp

Galleon Gold’s West Cache Gold Project in Timmins, Ontario is located between Pan American Silver’s Timmins West Mine and Discovery Silver’s Hollinger Mine. Led by perennial mine builder David Russell, the Company is gearing up for its first test mining on the project. The 86,500 tonne underground bulk sample is expected to produce approximately 20,000 ounces of gold, adequately covering the development costs, and will provide valuable data for pre-feasibility studies. Galleon Gold’s strategy is to systematically de-risk the project while continuing to grow the asset through exploration.

Management Profile

David Russell, CEO & President

David Russell is a seasoned mining executive with a track record of leading companies through project development, mine construction and strategic transitions. He holds a B.Sc. in Mining Engineering from Montana Tech. Prior to this, he founded and led Apollo Gold where he acquired the Black Fox Mine bringing it into production. Mr. Russell has held senior roles at companies including Getchell Gold, LAC Minerals / Barrick, Hecla, and Independence Mining.

What is your rationale for taking part in 121 Mining Investment?

Galleon Gold is looking to increase awareness of the project with institutional and HNW investors to help support and participate in the growth of the company as it develops its West Cache Gold Project in the Timmins mining camp.

What recent news would you like to highlight to investors attending?

• August 13, 2025 – Galleon Gold Welcomes Strategic Investment by Pan American Silver and Signs an MOU for Toll Processing at the Bell Creek Mill.
• April 9, 2025 – Galleon Gold Receives Closure Plan Permits for West Cache Bulk Sample Project

What are your key goals for the next 3, 6 and 12 months?

3 Months

Initiate surface work (roads, boxcut, electrical) for bulk sample. Award underground mining contract. Finalize toll milling agreement with Pan American Silver

6 Months

Continue surface work, initiate ramping and underground development. Conduct exploration program on other areas for the project.

12 Months

Extraction of bulk sample material 86,500 tonnes for delivery to mill; first gold pour.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Securing the workforce required to complete the bulk sample and escalating costs associated with manpower in an inflationary environment.

What do you think makes your company such a compelling investment?

Galleon Gold's West Cache Project sits between two major producing mines in a known mining camp. The project has incredible economics (PEA) and has key permits in place.

Pan American is a key component to the equity side of our company's story as they need our ore for their hungry mill, and our resources to replenish their own (they are below 1MM ozs in reserves). As much as we want to build this project on our own, we wouldn't be surprised if a bigger company like PAAS made a move to acquire the company in the not too distant future.

Beyond our existing resources, there is substantial exploration upside.

What are the top 3 key investor takeaways?

1. Strategic Asset in a Strategic Location - Timmins Mining Camp, adjacent to major producers who need what we have

2. Strategic Investors - Pan American Silver investment with rights up to 19.9 % fully diluted; Eric Sprott (19%)

3. Strong Scalability - Project is only 8% drilled with huge blue-sky potential; Bulk Sample will derisk the project