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Tag: Galleon Gold Corp.

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Galleon Gold Corp. (TSXV:GGO) – Exploration and Development Plans Picking up for 2022

Galleon announced its exploration and permitting plans for 2022 at its West Cache Au project in the Timmins, Ontario area. The company recently closed a $3.5M flow-through and non-flow-through financing, thus it is funded for its 2022 plans. We have adjusted our target price to take into account the financing and share consolidation. Galleon is funded for exploration and permitting work, including drilling at high-grade targets as well as early-stage exploration on newly acquired properties that expand its West Cache project. We continue to believe there is significant upside potential as the company continues to advance West Cache toward a bulk sample program.

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Red Cloud | redcloudfs.com

Galleon Gold Corp. (TSXV:GGO) – Robust Economics Unveiled in Maiden West Cache PEA

Galleon Gold released a maiden PEA including an updated mineral resource estimate (MRE) for its 100%-owned West Cache Au project in the Timmins area of Ontario. The results outline an after-tax NPV5% of C$240M with indicated resources of ~472koz Au and inferred resources of ~1.1Moz Au. This represents a further 20% upside to the September 2020 MRE. With a realistic time frame to initial production, manageable initial capex, and plenty of exploration planned over the next two years, we believe this PEA demonstrates robust economics and blue-sky potential at West Cache. We have updated our valuation with a mine model to come up with a revised target for Galleon.

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Red Cloud | redcloudfs.com

Red Cloud Oktoberfest: Fall Mining Showcase 2021 – Day One Recap

Yesterday, Red Cloud hosted the first day of its three-day 2021 Oktoberfest Fall Mining Showcase, which featured 26 presenting companies including our keynote speaker Dr. Thomas Brady, Managing Director of Capitalight Research Inc., and had over 1,000 participants registered in advance of the event. With this note, we want to provide a quick recap of the highlights from the conference for those who were unable to attend the live event. If you would like to attend Day Two and Three of Red Cloud’s Oktoberfest Fall Mining Showcase, register here. Replays are available on the Red Cloud website.

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Red Cloud | redcloudfs.com

Q3 Producer Preview & Commodity Price Update – Lowering Gold Price Forecasts While Most Commodities Increased

Q3 operating and financial results are to be announced over the next few weeks. While gold is out of favour, prices have been trading within a narrow window that have allowed companies to continue to turn profits, despite an uncertain outlook. Late summer was hard on most commodities as precious and industrial metals alike fell on a slowdown in global economic growth due to surging fuel prices, Chinese power restrictions, labour shortages, disrupted global supply chains and a stronger USD. Metal prices came under further pressure as major property developer Evergrande missed further bond payments, impacting iron ore and copper prices. With this update, we provide new commodity price and FX forecasts, updated coverage estimates, and a fresh set of top picks.

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Red Cloud | redcloudfs.com

Galleon Gold Corp. (TSXV:GGO) – MRE at West Cache Increases by 20%

Galleon Gold provided an updated mineral resource estimate (MRE) for its 100%-owned, West Cache Au project near Timmins, Ontario. The new MRE of ~1.3M oz Au represents a 20% increase in contained ounces over the previous resource estimate largely by incorporating more open pit material, and overall, it is in line with our expectations. We view the completion of the MRE as an important milestone for Galleon, as it will form the basis for the upcoming PEA on the project.

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