Hello, welcome to Virtual Investor Conferences. On behalf of OTC Markets, we are very pleased you have joined us for the second day of our Precious Metals & Critical Minerals Virtual Investor Conference. The next presentation of the day is from Galantas Gold. Please note you may submit questions for the presenter in the box to the left of the slides. You could also view a company's availability for a one-on-one meeting by clicking Book a Meeting. At this point, I'm very pleased to welcome Mario Stifano, Chief Executive Officer and Director of Galantas Gold, which trades on the OTCQX Exchange under the symbol GALKF, and on the TSX-V under the symbol GAL, and on the AIM under the symbol GAL. Welcome back, Mario. Well, thank you for having me. I really appreciate it. Thank you for everyone who's listening to this presentation. I think this is a key turning point for Galantas. I've done a few of these in the past, and we focused on our project in Northern Ireland, which many of you may be quite familiar with. Galantas is now pivoting into Chile. I think, you know, what we have now in Chile is really a world-class asset, and I'll explain to you why this is gonna be one of the projects that's gonna capture the market's attention. I see us as being significantly undervalued relative to what we have on our books. A little bit of a background here. We acquired the Andacollo project in 2025. We actually closed our financing at the end of 2025 on December 31st, believe it or not. Andacollo, which I will go through some slides on Andacollo, we think that has potential for a multi-million ounce deposit, and it's currently 5 million tons, 350,000 oz of gold, and 65,000 tons of copper. We see that growing quite materially. In addition to that, in early 2026, we announced the acquisition of Andacollo Gold. Just to be clear, that acquisition has not closed as yet. The shareholder vote will be held on June 15th, for shareholders of record as of May 12th. We would hope to close that towards the end of June. We're off to the races on Andacollo Gold. Look, I gotta tell you, I love Indiana, and I don't want anyone to forget about Indiana, Andacollo Gold realistically has captured the market's attention, and it's a large scale asset. It's got 1,500,000 oz of gold approximately in the indicated category, and 4,500,000 oz of gold in the inferred category. Keep in mind, that is a constrained pit. It's got a long operating history. It was operated by Dayton Mining in the '90s and early 2000. That was a U.S. company. Lachlan Star, an Australian company. They all operated this asset in very low gold price environments. You know, I'll be the first to tell you at CAD 1,500 gold, Andacollo is not an exciting project. It would be marginal at best. At $4,500 gold or $3,000 gold, this is a fantastic asset. We're very lucky to have acquired Andacollo Gold. I am now gonna jump, 'cause we have a half hour, I wanna try and give everyone an opportunity to have a real good look at what this is all about, 'cause I do think the market's not fully appreciating what we have yet at Andacollo. We're currently trading, everyone understands where we are, at CAD 0.45 or around, you know, $0.28, let's call it, in American dollars. That's valuing us at around $35 per ounce US dollars. That is cheap. We've got 6,000,000 oz, even if we're valued at $100 an ounce, which I still think is cheap for an asset that's gonna go in production towards the end of the year or early next year. Again, I wanna remind everyone there's gonna be lots of forward-looking statements here. Please read the forward-looking statements for Galantas. I still think we got a long way to go here to create value for Galantas and our Galantas shareholders. This is Andacollo. This image doesn't do it true justice. Those leach pads that you're looking at there are 1.6 km long. Those are big, long pads. I'd stood there. You wouldn't even see me in that picture if I were standing on top of that pad. You'll see there on the bottom part of the screen called the ADR site, that's basically where the plant is, our office is. That give you an idea of scale. Just to the east of us, is, in the southeast of us, I guess, is Teck's Carmen de Andacollo mine. That's producing 45,000 tons per annum of copper, up to 50,000, 55,000 depending on the year as well. Last year they produced, based on their financial statements, $350 million of EBITDA. If you use today's spot price, they're likely, based on my estimates, gonna produce about $550 million of EBITDA. Combined between our asset and Teck's asset, all one system, all porphyry related, is over 1 billion tons, what's sitting there now and what's been mined in the past. These, both these deposits, ours and Teck's, are still open to depth and other opportunities to find additional resources on our ground. I'm extraordinarily excited here. This is one of those rare opportunities for Galantas, which has always been our strategy. Look for assets that are near-term producers, low capital cost, and significant exploration upside. Andacollo, our first acquisition, checked all those box, and definitely Andacollo checks all those boxes as well. You know, to get this up and running and restarted, we need about $60 million is what we're estimating. We'll be coming out with a PA later in the year, but that's, I think, a very fair estimate. Rio2, which is another Canadian company with a open pit deposit in Chile, they got about 5,000,000 oz, a little bit less than we do. Their grade is sitting around 0.35, so lower grade than what we have. They're at around 4,400 m elevation. We're at 1,000 m elevation. We have all the water rights here that we need to operate, lots of advantages for our project. They're trading at about CAD 1.5 billion. We're trading at about CAD 300 million, or let's call it $200 million. As I said, significant exploration upside. To get this up and running, Rio2 needed about $120 million to build their site. We need $60 million to refurbish our site, I think our estimate is very reasonable here. The only piece of equipment we need is the crushing plant, which was sold by the previous owners. We think we have a line of sight to acquire another crushing plant, which would really help us accelerate into production by the end of the year into early next year. We could always design build. They cost a little bit more, you do get a new plant as a result of that. We think finding a used plant is the right route to go, and we got a line of sight on two plants here that we can likely acquire. CAD 60 million is very low cost. How are we gonna finance that? You know, everyone assumes you're gonna go out and do equity. I think we are in this very unique situation with Galantas where we can actually raise this with debt. Sitting on these pads is over 300,000 oz of gold. I view this as inventory finance for ourselves. That gold's already been mined. It's been sitting there. The only reason it's not coming out is because when it was in bankruptcy and acquired in 2019, the pads stopped recirculating the cyanide. Our goal, obviously once we close this, will be to recommence circulating the cyanide solution and then recovering some gold. I view this as inventory finance, and I'm pretty confident I can raise CAD 60 million, CAD 50 million in debt to bring this asset back into production and avoid any additional equity. That's gonna be my goal here on trying to do this. I'm extraordinarily excited with what we have. This is our resource. I'm gonna be jumping around my slide deck here 'cause I don't need to do always a page flip. This is our resource. 6,000,000 oz, as I mentioned. 1.5 million approximately in the indicated. And that includes oxide and mixed material, and 4.5 million in the inferred. Again, oxide and mixed material. Just as importantly, like, I'm a firm believer of gold. I think we're going a lot higher. Even in a crazy scenario where we end up going lower, I'm just gonna point out the $2,500 gold price environment. We still have 4,500,000 oz of gold in a constrained pit. This is an extraordinarily robust, large, world-class asset that we have here at Galantas, and I think that's gonna make this asset one that many will look at in terms of how we advance this project moving forward and create value for our shareholders. What is the Andacollo Gold Project, and why is it interesting? This is an image. The area in blue is our exploitation license. We actually have some additional ground around here as well, like this is where our waste dumps are. This is ground that we have. This area in the light shaded blue is Teck. That is Teck's porphyry system. They are currently mining that asset. As I said, 45,000 tons per annum of copper, or 35,000 tons per day approximately. You can see our property lines bump up against each other, and that's very important because this is all one related system. What you had here from a geological perspective, you had your mineralizing event. The fluids were coming up. You got your porphyry formed. Part of those fluids, 'cause everything dips towards the east, those ore fluids go uphill, not downhill. That's how you got the gold deposit. We got the gold-rich deposit. Teck has the copper-rich part of it. We do believe, and I'll show you a slide, that there is real potential for the copper porphyry to extend onto our ground. I don't know how much, we're confident that there's real potential here for this copper to come onto our ground. We've also, back in 2012, Lachlan Star, who had this asset, they drilled for some copper, and they hit some grades similar and higher grade than what Teck has, which is to be expected. We also found some higher grade gold in this area. This is gonna be a key area for us to explore and follow up on with the drill bit. Now we've got 6,000,000 oz. We got a long, long, long, long life asset ahead of us, but doesn't mean we can't continue to drill and grow this. You know, you know, with some luck, You know, this has been down to 200 m depth. Teck has drilled down to 650 m depth. These fluids will go deep. You know, there's no reason why this doesn't go to 400 m depth, maybe deeper. You know, if that were the case and you got very similar mineralization to what you have closer to surface, you're looking to almost double your resource here. This is a big asset, and it's rare to have something like this in a junior company. Now, what makes this really intriguing, I don't know for sure. I would guess with my mining experience that a 45,000 ton per annum copper producer is probably not gonna be core for a merged Anglo-Teck. I don't know for sure, obviously. I would hope that if they decide to sell that asset, we'd be on the top of the list to acquire it, because I do think we are the only acquirers here that could create value for this combined company or combined asset, if we're so lucky as to have been able to acquire this from Teck. I'm showing you this image here 'cause this is really important. It's in our technical report, Section 14. It's on our website or go onto SEDAR if you'd like to see it on the regulatory filings. It is on our website. This is really important. This is our pit at Tres Perlas. This is a constrained pit. DRA, which did the 43-101 wanted to note, and I think this is really important for people to understand, the pit starts theoretically at the property line, as it should. As you start to design a pit, you got a 50-degree angle, let's call it, you start moving away from the property line. What ends up happening as you're doing that, 'cause you can only start on your own property line, you end up leaving quite a bit of potential mineralization underneath your hanging wall. This area in orange was identified by DRA as another 90 million tons of resources in, within a pit, or almost 1,200,000 oz of additional resources. This is not in our official MRE, but DRA did put this in our 43-101 so the market and readers understand there is quite a bit of additional ounces that we can add if we are so lucky as to be able to expand the pit, this point here, over onto Teck's side. Just like we've got that issue 'cause of the property line, so does Teck. I don't know how much copper or gold is sitting below their pit, but just as, just like us, they have to start their pit wall on the property line, start moving away from the property, and you got this big triangle sitting below these two pits. Well, if this were one asset, you've got one big super pit. As I said already, there's 1 billion tons that have been, combination have been mined and sitting in resources. We're almost sitting on this scenario, almost 500 million tons of resources. You know, Teck has got, you know, 400 million tons approximately. You probably have another deposit sitting here. This is what's gonna be really exciting for us if we're so lucky somewhere down the road to work with Teck to figure out how to create value for this combined asset, 'cause this is one key big resource. As I mentioned earlier, there's a lot of operating history here at Andacollo. This is mined and operated by Dayton Mining in the late 1990s, early 2000s. I'm not sure many remember, but in the 1990s, late 2000s, you were at, you know, CAD 200, CAD 400, CAD 500 gold in early 2000s. I remember during my Noranda days, things were tough back then, I gotta tell you. In 2010 when Lachlan Star bought it, you know, I was CFO of Lake Shore Gold at the time, trying to raise money to put Lake Shore into production was not the easiest. We did it. We found the money. At $1,100 gold, $1,200 gold, you know, unless you had grade, it was difficult to operate a low-grade deposit. You know, give Lachlan Star Limited, they operated for over four years in a very tough environment. Even they couldn't make a go of it at $1,200, $1,300 gold, so went into bankruptcy. It was acquired in 2019 by a local Chilean, Luis Catril, who's now gonna become our largest shareholder. You know, kudos to Luis. He probably made the acquisition of a lifetime buying this asset out of bankruptcy. I'm sure he's somewhat surprised as well, like many of us, how the gold price has moved. You know, if you're a long-term bull, you would've seen this. It probably came a little bit quicker than some of us anticipated, but this is now a great acquisition for Luis, a great acquisition for Galantas, and Luis will be one of our key shareholders, and he's looking at this long term because we all see the great value that we'll be able to generate. Because this has got an operating history, you know, we know the metallurgy here. We know what was recovered. It recovered between 70%-76% in the oxides, and there's just under 1,000,000 oz of oxides left. Then in the mixed material, it would recover between 65% and 70%. We know the metallurgy here. We know how to operate this. There's a lot of information here. There's over 280,000 m of drilling to put this resource together. This is not a new asset. Don't get me wrong, new assets are great, you know. If you can get a historical asset with a world-class resource like we just did with Andacollo, I think you end up with a very, very special project. I'm gonna show you before I get to Andacollo, 'cause I don't want anyone to forget about Andacollo. At Andacollo, as I mentioned, there is potential for additional mineralization. You know, we still think this thing could grow much bigger. Lachlan Star was able to drill some much higher grade gold. You can see their 175 m of 0.9, 130 m of 0.8, and 99 m of 1.5 g gold. Just as importantly, they were drilling copper. This is where we think you have the potential for the copper porphyry extension onto our ground, and we'll be following up on this. You can see those grades there. The resource at Teck is 0.35% copper, 0.1 g gold. You can see some of the copper grades that was being drilled by Lachlan Star, 37 m of 1.8, 30 m of 0.5, 30 m of 0.5 type hits. We do think there's gonna be potential for a rich chalcocite blanket here, which is gonna make this really exciting in the sense that, you know, we can build a sizable copper deposit here on our ground, with some potential high grade. How we process it, that's to be determined. This is a gold project with a gold heap leach. Teck is next door, and maybe somewhere down the road, you know, with the copper we build plus the copper they have, we could all figure out how to be friendly partners here and create value for both of our assets. I am now going to move to Andacollo, because I think this is also a very critical asset for us. As I mentioned, the updated 43-101 is 5 million tons. That represents 350,000 oz of gold and 65,000 tons of copper. The deepest drill hole here on the average is 300 m, and if you can envision you're at the bottom of a valley with the mountain of, in, on, you know, in front of you're drilling 300 m up into the mountainside or you're drilling 300 m down into the ground from the valley floor, or a combination of two, so very shallow drilling. We think this could go down to 1,000 m+. Our resource only includes seven hole or seven veins. We think there are 29 veins so far that we've been able to identify that are likely mineralized. In this part of Chile, because there's quite a bit of gravel and cover, for every vein you find exposed, you might have three, four, or five veins below surface. We're drilling here as we speak, so I'm really excited. We'll hope to have some drill results here at Andacollo towards the end of May, early June. Keep, you know, pay attention to this 'cause I think this is clearly in my mind a multi-million-ounce deposit. The reason why we originally did this Andacollo deal is exactly for that. You know, the three part strategy we have, near term producer, check mark for Andacollo, low CapEx, check mark for Andacollo, 'cause we'll direct ship ore like it was done in the past, the third key point here is significant exploration upside, I'm convinced there is significant exploration upside at Andacollo. I think obviously, and rightly so, everyone's really focused on Andacollo, once we close Andacollo, we'll be off to the races. I don't want anyone to figure out or forget what we have at Andacollo, because I am extraordinarily excited about this. You can sort of see some of the ore here on this slide here. This is type of stuff that at times would get direct shipped to ENAMI. They're about 45km, 50 km away from the plant. ENAMI is a state-owned processor, a lot of small-scale miners use ENAMI to process their ore rather than having to build a mill at your project site, that makes it really exciting. That is our plan here. We want to direct ship some ore to ENAMI, we'll look to build our, I shouldn't say build, but actually we probably will build somewhere down the road, a plant at our site. You know, in the short term, we might look to acquire or invest in a small mill in the town of Copiapó, which is about 40 km away, so we can produce some of our own concentrate here. Nonetheless, you know, we think we can get this up to 300 tons per day, and we think we can get this then to eventually 1,000 tons per day within 18 months. You add that up with Andacollo, again, this is gonna be a forward-looking statement for Andacollo. I'm targeting 50,000 oz-70,000 oz next year, and a run rate somewhere around 70,000 oz-90,000 oz per annum at 20,000 tons per day. Everything's obviously dependent on the grade. You know, we got so many ounces in our resource, we'll be looking to expand at some point down the road Andacollo as well. You know, we have infrastructure to produce up to 200,000 oz of gold. Keep in mind there is a lot of potential here to grow not only Ireland, but also Andacollo, and create Galantas into, you know, 100,000 oz+ producer. In this kind of market with these kind of margins, I think we're just at the very tip of the iceberg of where we think Galantas will be. Very quickly, finally, I'll start answering some of the questions, capital structure, 'cause this is really important. We've got about 600 million shares outstanding. This is gonna be pro forma after closing of the Andacollo transaction. Luis Catril will get 91 million shares. We've got strong, significant shareholders here from Luis Catril I've met multiple times, fantastic gentleman, and I think he's very excited, putting this asset into Galantas and what we could all create here together. I'm really happy to have Luis join our team here. Melquart is a U.K. family office. Eric Sprott, everyone knows Eric Sprott. He's a big shareholder. Ocean Partners, also a big shareholder. I think we've got a Tier 1 investor base, and Tier 1 assets. Andacollo I know sounds a little small to begin with, but give it time, 'cause I'm, I mean, convinced it's gonna be another Tier 1 asset. You know, not too far away, is Candelaria, which is the big Lundin copper gold project. I'm just gonna answer some questions. I got about seven minutes left. Someone asked, you know, how having a multi-asset company and a junior de-risk the company? Look, I think juniors have always been known in their, you know, focus on one asset. Yes, that is a good strategy at times. By the way, if you're in a similar country, similar jurisdiction, having multi-assets de-risks you in many ways. I'm really viewing in many ways, other than having a shared senior management team in Chile, both of these assets are separate assets. There's no direct synergies between these 2 assets. However, being in Chile, 1's high grade underground, 1 is lower grade, large scale open pit. Both have very low CapEx. We're in a very strong gold price environment, and the ability to bring both these assets to cash flowing within the next six months, I think just de-risks the company and really puts Galantas well beyond the junior sphere into that mid-tier sphere. You know, if we're lucky enough at some point to be able to go after the Teck asset and we're lucky enough to win a bid if they ever decide to sell that asset, I really hope so. Hopefully, they're listening and they determine that asset to be non-core. We'll be at the top of the list to pound on the door and say, let's, let's try and figure out how to negotiate a deal. If we were able to get Teck, we're clearly generating the next Canadian metals producer, and I'd be more than honored to be able to lead that kind of company. Again, someone's asking, what are the operating costs, all-in sustaining costs for both projects? Again, we're working on the PA for both Indiana and Andacollo. For Indiana, I would guesstimate around CAD 1,500 an ounce for Andacollo, and the reason for that, and I think that's extraordinarily reasonable. Rio 2, with their feasibility study, they were even last year, late last year, they were estimating CAD 1,200 an ounce for their project. As I said, you know, we have a lot of advantages at our project being at low elevation. We have water. We don't have to truck in our water. I think that is very reasonable for Andacollo. For Andacollo, you know, as we're ramping up, you'll have higher costs. It might be CAD 1,500-CAD 1,900 an ounce all in. By the time we ramp up to 1,000 tons per day, I would expect that cost to be CAD 1,500 per ounce as well. We think in this environment, both assets will create quite a bit of margin. Geez, all these questions are coming in pretty quick here, let me try and I think we're up to 30 questions or 40 questions. Okay, someone asked, Andacollo produced 1,100,000oz historically with production 135 oz per year. What gives you confidence you can restart efficiently? Great question. Look, this is a restart. I mean, this is in the desert of Chile. You don't have issues with rainwater. You don't have the same issues you have with rust as you would in, you know, somewhere that's along the sea. Everything was in good order. The only thing we need is this crushing plant. Once we have our crushing plant, we think by the end of the year we'll be able to restart and get producing gold at Andacollo. I'm extraordinarily confident that we'll be able to get this up and running towards the end of the year, early next year. You know, that 135,000 oz per year that was produced by Dayton Mining, that was at a higher gold price. I will tell you, in the coming years, we will exceed that amount because I fully expect to increase the overall throughput at Andacollo. Look, I'm not here to mine this for the next 60 years. We want to increase this to 40, maybe eventually 60,000 tons per day. We have capacity at site to do 200,000 oz somewhere in the future. Don't know yet when, we'll get to those levels as we're able to increase our throughput of ore at Andacollo. All right. Another question, Eric Sprott just exercised 30 million warrants. Someone's asking, Eric Sprott just exercised some warrants. What does that mean as a vote of confidence? I think that's a huge vote of confidence from Eric Sprott. You know, he's the premier mining investor. Everybody knows him. You know, for Eric to have exercised his warrants early I think is a great vote of confidence. He knows what we have at Andacollo, 'cause we're really keen to be drilling that and advancing that project. He also knows what we have at Andacollo, and we'll get that closed by the end of June. You know, within Galantas, I mean, there's not many companies out there with existing infrastructure, CAD 60 million -CAD 70 million to get, you know, two assets into production, you know, 6,000,000 oz. There's not many juniors out there like us. We're trading at $35-$40 an ounce. We should be trading at $100 an ounce. That only puts that at a $600 million U.S. market cap. You know, theoretically, once we're in production, we should be at $500 an ounce. You know, we'll be generating. I wanna make this very clear, this is a 6,000,000 oz deposit. There should be option value on this gold as well. This is not a 10-year mine life or 15-year mine life. I mean, theoretically, you can mine this for 40 years because you can continue to mine deeper and drill deeper here. This is not a cash flow that you're gonna try and value something for 10 years and that's it, right? You got your NPV. In our particular case, you should have, at the end of 10 years when your NPV becomes and your discount becomes less relevant, you should start being adding option value to Galantas because of the amount of gold that we have here. Right? 30 years from now, you know, someone will still be talking about Andacollo and Galantas. I think I have time for one more question. Someone mentioned about the copper potential at Galantas and Andacollo. Yes, we do see some real potential for high-grade chalcocite. Teck started seeing it around that 80 m-100 m depth. We're not there yet at Tres Perlas. We think we're probably maybe 10 m away, maybe 20 m, but we'll get there very shortly. We can't process that. I wanna make that very clear. We don't have the processing facility to process copper. At some point, if we're able to work with Teck on that, there's lots of opportunity there, or somewhere down the road we could always look for a processing plant in the region to send our copper. Yes, I do think we have potential for another copper asset and mine, if you wanna think of them separately, at Andacollo. That's it. Thank you, everyone. I really appreciate it. Always feel free to send me an email, or give us a call if you have any other questions.