Galactic Gold Announces Closing of Final Tranche of Private Placement for Gross Proceeds of C$2 Million

Vancouver, British Columbia--(Newsfile Corp. - May 15, 2026) - Galactic Gold Corp. (TSXV: GGAU) ("Galactic Gold" or the "Company") is pleased to announce the closing of the second and final tranche (the "Second Tranche") of its previously announced non-brokered private placement (the "Private Placement") of common shares in the capital of the Company (the "Common Shares") originally announced on April 7, 2026. The first tranche of the Private Placement (the "First Tranche") closed on April 29, 2026.

Under the Second Tranche, the Company issued 1,080,000 Common Shares at a price of C$0.25 per share, for gross proceeds of C$270,000.

Combined with the First Tranche, the Company issued a total of 8,230,000 Common Shares under the Private Placement, for gross proceeds of C$2,057,500.

All securities issued under the Private Placement are subject to a statutory hold period of four months, in accordance with applicable Canadian securities laws. In connection with the Second Tranche, the Company paid cash finder's fees of C$1,500 to certain eligible finders on a portion of the Private Placement, in accordance with the policies of the TSX Venture Exchange. The Private Placement remains subject to final acceptance of the TSX Venture Exchange.

Certain insiders of the Company participated in the Offering and subscribed for an aggregate of 240,000 Common Shares for gross proceeds of C$60,000. Such participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements under Sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as neither the fair market value of the securities issued to, nor the consideration paid by, such insiders exceeds 25% of the Company's market capitalization.

The Company intends to use the proceeds from the Private Placement for exploration activities related to the Hardrock West property, working capital and general corporate purposes.

None of the securities sold under the Private Placement have been or will be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Galactic Gold Corp.

Galactic Gold Corp. is a resource development company focused on unlocking the full potential of its 100%-owned Hardrock West Property, located in the top tier mining jurisdiction of Ontario. Galactic Gold is positioned between Equinox Gold Greenstone Mine and Equinox's Brookbank Deposit along what Laurentian University in its Metal Earth Research has identified super structures across the Galactic Gold Property underscoring the Project's strong value-creation potential.

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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's current plans and business objectives. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: assumptions regarding future metals prices, debt and equity financing market conditions, receipt of regulatory approvals, and other factors. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on its behalf. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward- looking statement, whether as a result of new information, future events or results or otherwise. More particularly, this news release contains statements concerning the anticipated Private Placement. Accordingly, there is a risk that the Private Placement will not be completely sold, or the Private Placement will be completed within the anticipated time or at all. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

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