TORONTO, ONTARIO--(Marketwire - Jan. 24, 2012) - Galantas Gold Corporation (TSX VENTURE:GAL)(AIM:GAL) (the 'Company'), the AIM and TSXV quoted producer/developer/explorer with a 100% interest in Ireland's only operating gold mine, has purchased through its wholly owned subsidiary, Omagh Minerals Limited, a strategic parcel of land near Omagh, County Tyrone, Northern Ireland.

The freehold land parcel is contiguous with the mine and lies to the north-west of the existing land holding. It comprises an area of approximately 52 acres and was purchased for £247,000. Part of the land overlies the Joshua Vein discovery, for which drilling results were recently detailed in the formal announcement of 12th January 2012.

Roland Phelps (President and CEO, Galantas Gold Corporation) commented, "This land purchase secures surface rights over the recently discovered northern extension to Joshua Vein and has been financed from cash generated from operations. I am very pleased that the Company managed to acquire the land as I expect it to be an important asset for the future."

Galantas Gold Corporation Issued and Outstanding Shares total 235,650,055.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:

Galantas Gold Corporation
Jack Gunter P.Eng
Chairman
+44 (0) 2882 241100

Galantas Gold Corporation
Roland Phelps C.Eng
President & CEO
+44 (0) 2882 241100
info@galantas.com
www.galantas.com

Maclir Consulting Ltd
Courtenay Heading
Investor Relations Consultant
(UK) +44 (0) 7624 424 455
c.heading@Galantas.com

Religare Capital Markets
Phil Davies
AIM Nominated Adviser
+44 (0) 20 7444 0800

Beaufort International Associates Ltd
Barry Gibb
Corporate Finance
+44 (0) 20 7930 8222

Beaufort International Associates Ltd
Saif Janjua
Corporate Finance
+44 (0) 20 7930 8222

Beaufort International Associates Ltd
Kenneth Pio D'Mello
Corporate Broking
+44 (0) 20 7930 8222