Galore Resources Provides Comprehensive Update on Dos Santos Project Legal and Operational Progress
Vancouver, BC – June 11, 2026 – Leads & Copy — Galore Resources Inc. provided a comprehensive update on its Dos Santos Project in Zacatecas, Mexico, detailing progress on legal matters, concession regularization, financing, and asset preservation.
The company highlighted that various issues affecting the project have evolved over an extended period, involving legal proceedings, administrative reviews, concession duty obligations, financing requirements, and discussions with governmental authorities. Management has been actively addressing these matters, including a concession portfolio review conducted by RB Abogados, which was completed on May 7, 2026.
A significant development is the successful regularization of six key concessions through payments of concession duties current through the First Semester of 2026. Galore Resources believes the combination of the legal title review, court developments, concession regularization efforts, and related financing activities now provides a clearer basis for updating shareholders.
Recent material developments since the March 2, 2026 disclosure include the completion of the RB Abogados Legal Title Report, a favorable court judgment regarding the Sta. Fe 3 concession, continued advancement of administrative proceedings for Sta. Fe 4 Fracc. 2, progress in addressing registration matters for Los Gemelos I and Duende 7, the successful regularization of six concessions, and financial support from an existing shareholder.
The legal review by RB Abogados confirmed the status of the company’s concessions and provided opinions on ownership rights, assignment agreements, court proceedings, and administrative remedies. Regarding the Sta. Fe 3 concession, Minerales Galore filed a nullity action in March 2025 after the concession was cancelled due to outstanding mining duty payments, though the company claims it did not receive official notice of non-payment. A favorable judgment was issued by the Federal Administrative Court on October 29, 2025, and the company awaits administrative implementation.
For Sta. Fe 4 Fracc. 2, which was also cancelled due to unpaid duties, Minerales Galore has filed both an Administrative Appeal and an Annulment Demand, with these proceedings remaining pending. The company noted it did not receive official notice of non-payment for this concession either.
RB Abogados identified fraudulent activity involving falsified documentation with the Public Registry of Mines (PRM), leading to the registration of Los Gemelos I and Duende 7 under a third party’s name. However, the company maintains that the Assignment Agreement with Mr. Ezequiel Agüero Zamudio from June 7, 2011, remains valid. A favorable judgment was obtained on June 30, 2025, regarding a prior denial of registration for this agreement. RB Abogados advised that sufficient legal grounds exist to pursue cancellation of the current registration and re-registration in the name of Minerales Galore.
The six regularized concessions are Carbonerillas, San José, Los Gemelos I, Duende 4, Duende 5, and Duende 7. Management views this regularization as a significant milestone.
Financially, the company secured a US$150,000 loan from an existing shareholder to preserve key concessions. The loan carries a 12% annual interest rate and matures one year from advancement. Funds were used for concession preservation and regularization. Subject to TSX Venture Exchange acceptance, the company will issue 1,500,000 bonus warrants to the lender, exercisable at CAD$0.10 per share, subject to a four-month hold period.
Galore Resources’ focus remains on protecting its concession portfolio, completing regularization efforts, advancing discussions with government authorities, seeking financing, evaluating partnerships, and advancing exploration activities. The company believes these developments collectively strengthen its position for future project advancement.
Galore Resources Inc. is a Canadian-based exploration and development company focused on its Dos Santos gold-silver-copper project in Zacatecas, Mexico, which spans 14,400 hectares.
Source: Galore Resources Inc.
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