Kenglo One Limited / Baccata Trustees Limited - Report RE Extension of Expiry Date of Warrants of Galantas Gold Corporation

Pursuant to National Instrument 62-103

TORONTO, July 31, 2012 /CNW/ - On July 9, 2012 the expiry date of 24,550,000 common share purchase warrants (each a "Galantas Warrant") of Galantas Gold Corporation ("Galantas") held by Kenglo One Limited ("Kenglo"), Third Floor, Conway House, 7-9 Conway Street, St. Helier, Jersey, JE2 3NT,  was extended for one year from July 22, 2012 to July 22, 2013.  Kenglo originally acquired the Galantas Warrants, each exercisable into one common share in the capital of Galantas (each a "Galantas Share"), by private placement from Galantas on July 22, 2010.

On June 8, 2012, Kenglo exercised 20,560,340 common share purchase warrants of Galantas (the "June 2010 Galantas Warrants") into 20,560,340 Galantas Shares, which warrants were acquired by Kenglo by private placement from Galantas on June 8, 2010. In addition, 439,660 June 2010 Galantas Warrants held by Kenglo expired unexercised.   Therefore, on June 8, 2012, Kenglo's ownership, direction or control over Galantas Shares was reduced by 439,660 Galantas Shares.

As at the date hereof, Kenglo owns an aggregate of 66,110,340 Galantas Shares and an aggregate of 24,550,000 Galantas Warrants.  Therefore, as at the date hereof and assuming the exercise of the Galantas Warrants, Kenglo owns or exercises control or direction over 90,660,340 Galantas Shares, being 32.29% of the issued and outstanding Galantas Shares.

Kenglo is wholly-owned by Benbrack Charkit Limited, which is wholly-owned by the BBCK Settlement Trust (the "Trust"), the trustee of which is Baccata Trustees Limited (the "Trustee"), which has control or direction over the Trust.  The address of Trustee is as above.  The beneficiaries of the Trust are Christopher Brown, his issue and his remoter issue.

Kenglo may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over Galantas Shares or other securities of Galantas through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

SOURCE: Kenglo One Limited

For additional information or a copy of the corresponding early warning report, contact: Ann Williams (tel: [phone]).