Aug 9 (Reuters) - Galane Gold Ltd GG.V
* Galane Gold Ltd announces the lapsing of the letter of intent for the proposed acquisition of Vantage Goldfields Limited
* Galane Gold - Galane, Vantage have been unable to conclude on execution of a binding acquisition agreement and therefore LOI has been terminated
* Says Galane has provided five extensions to original LOI, and will not extend further