CorporateGalore Resources Inc. (TSXV:GRI)June 11, 2026 at 7:45 AM EDT

Galore updates Dos Santos concessions, legal developments, regularization

Source:

TheNewswire

goldsilvercopperenergy_transition

      Vancouver, BC – TheNewswire - June 11, 2026 – Galore Resources Inc. ("Galore" or the "Company") is pleased to provide shareholders with a comprehensive update regarding the status of the Dos Santos Project located in Zacatecas, Mexico, including recent legal developments, concession regularization activities, financing arrangements, and actions undertaken to preserve and advance the Company's mineral property interests.   DISCLOSURE CONTEXT The Company recognizes the importance of timely and accurate disclosure to shareholders. Various matters affecting the Dos Santos Project have evolved over an extended period and have involved ongoing legal proceedings, administrative reviews, concession duty obligations, financing requirements, and discussions with governmental authorities.   As previously disclosed in the Company's Management Discussion and Analysis for the nine months ended December 31, 2025, dated March 2, 2026, management has been actively addressing a number of concession-related, administrative, legal, and financing matters affecting portions of the Dos Santos Project.   While aspects of these matters have been disclosed through the Company's continuous disclosure record, management believed it was important to first obtain a comprehensive independent legal review of the concession portfolio and complete certain concession regularization activities before providing shareholders with a broader update.   Accordingly, the Company commissioned RB Abogados, corporate counsel to Galore Resources Inc. and general legal counsel to Minerales Galore S.A. de C.V., to conduct a comprehensive legal title review of the Dos Santos Project concession portfolio.  That review was completed on May 7, 2026.   In addition, the Company successfully completed the regularization of six key concessions through payment of concession duties current through the First Semester of 2026. Management believes the combination of the legal title review, court developments, concession regularization efforts, and related financing activities now provides a more complete factual basis upon which to update shareholders.   Throughout this period, management's primary objective remained the preservation of the Company's assets, concession rights, and long-term shareholder interests while addressing a number of legal, administrative, operational, and financing challenges affecting the project.   RECENT DEVELOPMENTS Management believes several material developments have occurred since the Company's March 2, 2026 disclosure, including:   •         Completion of the RB Abogados Legal Title Report; •         A favorable court judgment regarding the Sta.

Fe 3 concession; •         Continued advancement of administrative proceedings relating to Sta. Fe 4 Fracc. 2; •         Progress in addressing registration matters affecting Los Gemelos I and Duende 7; •         The successful regularization of six key concessions through payment of concession duties current through the First Semester of 2026; and •         Financial support provided by an existing shareholder to assist in preserving important project assets.   LEGAL TITLE REPORT RB Abogados completed a comprehensive Legal Title Report dated May 7, 2026 regarding the Dos Santos Project concession portfolio. The report was prepared following a review of records maintained by the Mexican Mining Bureau (" MMB "), the Public Registry of Mines (" PRM "), assignment agreements, court filings, and related concession documentation.   The legal review confirmed the status of the Company's concessions and provided legal opinions regarding ownership rights, assignment agreements, court proceedings, and available administrative remedies.   STA.

FE 3 On March 7, 2025, Minerales Galore filed a nullity action seeking revocation of cancellation of the Sta. Fe 3 concession (Title No. 233935) which occurred March 7, 2025 due to mining duty payments being outstanding and unpaid. However, we did not receive evidence of any official notice of non-payment issued by the Mexican Mines Bureau, nor any official notice initiating the cancellation process.     On October 29, 2025, the Federal Administrative Court issued a favorable judgment regarding Sta.

Fe 3. Minerales Galore is currently awaiting completion of the related administrative implementation process before the PRM.   Sta. Fe 3 comprises approximately 9,761 hectares and includes the La Palma target area, one of the principal exploration targets within the Dos Santos Project.   STA.

FE 4 FRACC. 2 Minerales Galore has filed both an Administrative Appeal (Recurso de Revisión) before the MMB and an Annulment Demand before the Administrative Federal Court regarding the cancellation of Sta. Fe 4 Fracc. 2 (Title No. 233865) which occurred June 26, 2024 due to mining duty payments being outstanding and unpaid.  However, we did not receive evidence of any official notice of non-payment issued by the MMB, nor any official notice initiating the cancellation process.     These proceedings remain pending and unresolved. No assurance can be given regarding the timing or outcome of these matters.   LOS GEMELOS I AND DUENDE 7 As part of its review of the Dos Santos Project concession portfolio, RB Abogados identified that Los Gemelos I (Title No. 216788) and Duende 7 (Title No. 226581) currently appear in the records of the PRM under the name of a third party.  In this review, legal counsel discovered a third party had acted fraudulently, filing falsified documentation with the PRM, transferring registration of these titles.     The most important fact is the distinction between registered ownership and beneficial ownership.  The Company is presently pursuing discussions with officials of the MMB and the PRM in an effort to resolve these matters through available administrative processes.   According to RB Abogados, the Assignment Agreement entered into between Minerales Galore and Mr. Ezequiel Agüero Zamudio on June 7, 2011 remains valid, binding, and enforceable under Mexican law.

The legal report further notes that Minerales Galore obtained a favorable judgment on June 30, 2025 regarding the prior denial of registration relating to the assignment agreement.   Based upon its review, RB Abogados has advised the Company that sufficient legal grounds exist to pursue cancellation of the current registration of Los Gemelos I and Duende 7 and registration of those concessions in the name of Minerales Galore, subject to compliance with applicable administrative requirements.  The Company intends to then initiate litigation regarding the matter, however, no assurance can be provided regarding the outcome or timing of these efforts.   CONCESSION REGULARIZATION The Company is pleased to report that six strategically important concessions have now been brought current through the First Semester of 2026.   The concessions include: •         Carbonerillas (Title 218125) •         San José (Title 218126) •         Los Gemelos I (Title 216788) •         Duende 4 (Title 218328) •         Duende 5 (Title 218329) •         Duende 7 (Title 226581)   Management believes the regularization of these concessions represents a significant milestone in preserving and strengthening the Company's concession portfolio.   SHAREHOLDER FINANCING In the most recent quarter, the Company entered into a loan agreement with an existing shareholder (the “ Lender ”) pursuant to which the Lender agreed to provide financing in the amount of US$150,000 for the purpose of preserving key concessions within the Dos Santos Project.   The loan bears interest at a rate of 12% per annum and matures one year from the date of advancement of the loan. Funds associated with the loan and were utilized in connection with concession preservation and regularization activities.   The Company's Mexican advisors simultaneously pursued reductions in applicable surcharges associated with the concession obligations.  Following completion of that process, concession duty payments relating to the six concessions identified above were completed on May 26, 2026, bringing those concessions current through the first quarter of 2026.   Subject to acceptance by the TSX Venture Exchange and applicable securities laws, the Company has agreed to issue to the Lender a bonus of 1,500,000 share purchase warrants exercisable into 1,500,000 common shares at a price of CAD$0.10 per common share (“ Bonus Warrants ”).   The Bonus Warrants and common shares issuable thereunder will be subject to a hold period under applicable securities laws, which hold period will expire four months plus one day from the date of issuance of the Bonus Warrants.     PROJECT STATUS AND OUTLOOK Management believes the developments outlined in this release represent meaningful progress toward reducing historical uncertainties affecting portions of the Dos Santos Project.   The Company remains focused on: •         Protecting and preserving its concession portfolio; •         Completing remaining concession regularization efforts; •         Advancing discussions with government authorities regarding concession registration matters; •         Pursuing strategic financing opportunities; •         Evaluating potential partnership and joint venture opportunities; and •        Advancing exploration activities across the Dos Santos Project.   Management believes that the favorable legal developments, concession regularization activities, shareholder support, and independent legal review completed by RB Abogados collectively strengthen the Company's position and provide a clearer foundation for future project advancement.   About Galore Resources   Galore Resources Inc. is a Canadian-based exploration and development company focused on advancing its Dos Santos gold-silver-copper project in Zacatecas, Mexico. The property hosts multiple mineralized targets across 14,400 hectares in one of Mexico’s most prolific mining districts.   ON BEHALF OF THE BOARD   “Michael McMillan” President, CEO and Director   For Further Information: Please call Mike McMillan, CEO Galore Resources Inc. @ (210)-860-9212 or email mike@galoreresources.com with any questions or comments .   Neither the 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 includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements in this news release include, but are not limited to, the estimation of mineral resources; magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; future operations; mine plans; future exploration prospects, the Company’s receipt of the assays and quality of results from those assays; the completion and timing of technical reports; future growth potential of Galore Resources and future development plans for the Dos Santos project; the ability of the Company to obtain the requisite staffing, bonding and financing therefor; and the potential impact of seasonal drilling restrictions on the ability of the Company to effectively carry out such programs.  In addition, the Company’s ability to raise funds necessary to continue to conduct further drill programs at its Mexican mineral properties and the timing thereof, the prospective deposits, targets and mineralization at the properties and the anticipated receipt and timing of necessary governmental or third-party approvals and permits.   In addition, the Company’s ability to raise funds necessary to continue to conduct further drill programs at its Mexican mineral properties and the timing thereof, the prospective deposits, targets and mineralization at the properties and the anticipated receipt and timing of necessary governmental or third-party approvals and permits.   Such forward-looking information reflects management’s current beliefs and is based on a number of estimates and assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information is neither a promise nor guarantee, and is subject to known and unknown risks and uncertainties including, but not limited to, delays in obtaining governmental or third party approvals and permits, actual results of exploration activities, unanticipated geologic formations, structures and characteristics, environmental risks, future prices of base and other metals, operating risks, accidents, labor issues, and other risks in the mining industry as well as general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets and lack of available capital. All forward-looking information contained in this news release is qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com .

For OTCQB quotes and filings, please visit www.otcmarkets.com . Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.