New Risk • Mar 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$31.6m market cap, or US$22.3m). Announcement • Sep 03
Galileo Mining Ltd, Annual General Meeting, Oct 23, 2025 Galileo Mining Ltd, Annual General Meeting, Oct 23, 2025. Location: hlb mann judd, level 4, 130 stirling street, perth, western australia Australia Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Non-Executive Director Cecilia Camarri was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (AU$22.7m market cap, or US$14.1m). Announcement • Sep 04
Galileo Mining Ltd, Annual General Meeting, Oct 24, 2024 Galileo Mining Ltd, Annual General Meeting, Oct 24, 2024. Location: at the offices of hlb mann judd, level 4, 130 stirling street, western australia, perth Australia New Risk • Apr 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.9% per year over the past 5 years. Revenue is less than US$1m (AU$975 revenue, or US$637). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$59.3m market cap, or US$38.7m). Announcement • Sep 01
Galileo Mining Ltd, Annual General Meeting, Oct 19, 2023 Galileo Mining Ltd, Annual General Meeting, Oct 19, 2023, at 10:00 W. Australia Standard Time. Location: HLB Mann Judd, Level 4, 130 Stirling Street Perth Western Australia Australia New Risk • Aug 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$12m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$12m free cash flow). Earnings have declined by 7.5% per year over the past 5 years. Revenue is less than US$1m (AU$562k revenue, or US$362k). Minor Risk Market cap is less than US$100m (AU$89.9m market cap, or US$57.9m). Announcement • Feb 20
Galileo Mining Ltd Announces Metallurgical Test Work Results from Callisto Galileo Mining Ltd. announced initial metallurgical test work results from the Callisto palladium-nickel-copper-platinum-gold-rhodium discovery within the Company's 100% owned Norseman project in The initial metallurgical test work from Callisto shows that the disseminated sulphide mineralisation responds very well to sulphide flotation at industry standard conditions. Variability test work using additional drill holes will be a part of an ongoing metallurgical program along with the optimisation of flotation conditions seeking to further increase metal recovery. ALS Metallurgy Pty Ltd. was engaged by Galileo to undertake preliminary metallurgical testing and mineralogical studies on NQ half core diamond drill samples selected from NRCD337. A single bulk composite was obtained by sampling a nine-metre interval from 154 to 163 metres within the disseminated sulphide mineralised zone. Results of the flotation test are summarised in Table 1 with head assay grades and rougherrecoveries presented. Drill hole information for NRCD337 is presented in Appendix 1 and 2 with JORC details in Appendix 3. No significant levels of deleterious elements were measured in the rougher concentrate. Sighter flotation tests were conducted at a conventional grind of p80 = 75 microns in Perth tap water using a standard sulphide flotation reagent suite of copper sulphate activator (75 g/t), A3894 frother (55 g/t), and SIBX collector (19 g/t). The tests were done using pulps of 35% solids at pH 8.7 for 12 minutes. This sighter test has produced excellent recoveries of the base metals and the PGE (Platinum Group Elements). The correlation of assayed head values and the calculated head values is very high which provides further confidence that the mineralisation responded very well to conventional beneficiation by flotation.Samples of un-beneficiated ore have been sent for detailed mineralogical examination using QEMSCAN to understand the liberation sizes and association of PGE with sulphide minerals and host rock. Samples offlotation products have been sent for XRD analysis to identify the mineral species reporting to the various fractions. Mineralogical results are expected to be available in the first quarter of 2023.Metallurgical test work also included the measurement of physical properties - ultimate compressive stress (UCS), Bond crushing index (CWi), and Bond ball milling index (BBMi) at ALS, and the SMC Ab milling parameters at JK Tech in Brisbane. Both the UCS and CWi results indicate a soft to moderately hard material for crushing whereas the BBMi and SMC Ab values are at the upper end of moderately hard for milling to finer sizes.All results are well within normally acceptable metallurgical parameter ranges and do not present any anomalies in terms of equipment design or performance. It is noted that NQ half-core was used for the UCS tests and had to be sub-cored. Hence the results shouldbe taken as indicative only at this stage. Future Work: In order to assess whether a single bulk concentrate can be produced from the Callisto mineralisation, asequence of further work is being undertaken including cleaner flotation and magnetic test work.It was noted that physical properties were measured using NQ half-core which is only indicative for UCS as itrequires sub-coring to get a sample. Future measurements will need to be undertaken on full PQ core. Announcement • Jan 04
Galileo Mining Ltd Announces High Grade Drill Results Keep Coming at Callisto Galileo Mining Ltd. announced drill assays from diamond core drilling at the Callisto palladium-platinum-gold-rhodium-copper-nickel discovery within the Company's 100% owned Norseman project in Western Australia. Geological interpretation suggests that the Callisto rock unit originated further to the east and that the ultimate source of mineralization may yet be discovered at this location. Diamond core drilling is planned to resume in mid-January and the first program of drilling will test this concept with step out drilling. in addition to the drilling at Callisto, the first program of metallurgical work is underway using drill core from NRCD337. This initial sighter work will focus on flotation testing to determine recoveries of the key metals - palladium, nickel, copper, platinum, rhodium, and gold. Results from this work are expected within the first quarter of 2023. Drilling at Callisto is now focussed on determining the size and grade of the sulphide zone and understanding the relationship with the much larger host sill, while looking for a possible source of the discovery to the east. Assays are pending for more than 15 diamond core and RC drill holes. Announcement • Dec 13
Galileo Mining Ltd Announces High Grade Nickel Sulphide from Callisto Galileo Mining Ltd. announced drill assays from diamond core and RC drilling at the Callisto palladium-platinum-gold-rhodium-copper-nickel discovery within the company's 100% owned Norseman project in Western Australia. Highlights: New diamond drill assays show highest grades of nickel and copper from disseminated sulphides to date with 1.58% nickel, 0.93% copper, and 3.32 g/t 3E (1) over one metre in NRCD305; Peak nickel, copper, and palladium grades are interpreted as increasing at depth and to the east; Mineralised footprint developed over 500 metres from the parent host rock. Possible source of the mineralisation may be discovered further to the east; Diamond drill results also show grade continuity at depth; 23 metres at 1.41 g/t 3E (1.14 g/t Pd, 0.21 g/t Pt, 0.06 g/t Au), 0.28% Cu & 0.36% Ni from 248m (NRCD305) including 2 metres at 2.97 g/t 3E (2.16 g/t Pd, 0.66 g/t Pt, 0.15 g/t Au), 0.74% Cu & 1.29% Ni from 265m with 1 metre at 3.32 g/t 3E (2.76 g/t Pd, 0.48 g/t Pt, 0.07 g/t Au), 0.92% Cu & 1.58% Ni from 265m; 29 metres at 1.22 g/t 3E (0.99 g/t Pd, 0.17 g/t Pt, 0.06 g/t Au), 0.23% Cu & 0.24% Ni from 266m (NRCD306) including 11 metres at 1.70 g/t 3E (1.40 g/t Pd, 0.24 g/t Pt, 0.07 g/t Au), 0.32% Cu & 0.31% Ni from 280m; Results show the potential for substantial high-grade palladium-nickel-copper zones in disseminated sulphides at Callisto; First RC drill intersections from the start of a new line with; 19 metres at 1.15 g/t 3E (0.94 g/t Pd, 0.16 g/t Pt, 0.05 g/t Au), 0.20% Cu & 0.24% Ni from 163m (NRC358); 20 metres at 1.08 g/t 3E (0.88 g/t Pd, 0.15 g/t Pt, 0.05 g/t Au), 0.20% Cu & 0.23% Ni from 159m (NRC357); Diamond drilling currently targeting eastern zone where grades are increasing at depth; RC drilling currently targeting shallow sulphide zone to the west; Assays pending for over 20 RC and diamond drill holes with results expected over the New Year period and through January. Announcement • Nov 23
Galileo Mining Ltd Announces Rhodium Assays from Drilling At the Callisto Palladium-Platinum-Gold-Rhodium-Copper-Nickel Discovery Within Norseman Project in Western Australia Galileo Mining Ltd. announced rhodium assays from drilling at the Callisto palladium-platinum-gold-rhodium-copper-nickel discovery within the Company's 100% owned Norseman project in Western Australia. Highlights: Rhodium assays increasing at depth within high grade palladium-platinum seams. Drill intersection from NRCD279 contains rhodium grades up to 0.13 g/t over one metre with palladium grade of 3.82 g/t over the same interval; 1 metre @ 4.76 g/t 4E (1) (3.82 g/t Pd, 0.66 g/t Pt, 0.13 g/t Rh, 0.15 g/t Au), 0.70% Cu, & 0.59% Ni from 267m within wider zone of; 5 metres @ 3.36 g/t 4E (2.64 g/t Pd, 0.46 g/t Pt, 0.08 g/t Rh, 0.18 g/t Au), 0.54 Cu, & 0.45% Ni from 265m; Multiple RC drill intersections with positive rhodium assays. Significant RC results containing rhodium include 30 metres @ 2.14 g/t 4E (1) (1.69 g/t Pd, 0.30 g/t Pt, 0.05 g/t Rh, 0.09 g/t Au), 0.37% Cu, & 0.34% Ni from 149m (NRC299); 30 metres @ 1.92 g/t 3E (1.55 g/t Pd, 0.25 g/t Pt, 0.04 g/t Rh, 0.08 g/t Au), 0.32 Cu, & 0.32% Ni from 152m (NRC300). Rhodium price is approximately USD 13,400 per oz with high demand linked to its use in pollution control systems. Presence of rhodium is consistent with the interpreted style of mineralisation at Callisto. Petrography results confirm harzburgite and pyroxenite as the host rock to the mineralised Callisto intrusion. Same type of rock occurs at the South African Platreef deposits Latest rhodium assays and petrography results increase the fundamental prospectivity of Galileo's extensive 278km2 ground position Drilling continues at Callisto with further assays pending. Announcement • Nov 16
Galileo Mining Ltd Announces Drill Assays from Diamond Core Drilling At the Callisto Palladium-Platinum-Gold-Rhodium-Copper-Nickel Discovery Within Norseman Project in Western Australia Galileo Mining Ltd. announced drill assays from diamond core drilling at the Callisto palladium-platinum-gold-rhodium-copper-nickel discovery within the Company's 100% owned Norseman project in Western Australia. RC pre-collars have been drilled for holes NRCD329, NRCD330 and NRCD331, east of NRCD280. The diamond rig is now drilling NRCD331. 20 diamond core holes are awaiting assaying with results expected from late November through to January, dependent on the available laboratory turnaround times. Three metallurgical drill holes are awaiting assay (quarter core samples) prior to selection of composites for initial metallurgical test work. Quotes have been received for the metallurgical program which is expected to begin in December. All diamond core holes have been collared with RC drilling which saves time and capital. Announcement • Nov 03
Galileo Mining Ltd Announces Assays Confirm New Nickel Sulphide Discovery Galileo Mining Ltd. announced drill assays from regional exploration drilling north of the Callisto palladium discovery within the Company's 100% owned Norseman project in Western Australia. The style of metal enrichment identified has higher nickel content than Callisto and lacks the PGE metals seen to the south. It also occurs within a discrete gabbroic rock unit and the Company believes this represents a previously unknown intrusive nickel target within a newly identified and highly fertile mineral province. The assays for the disseminated sulphide zone intercepted in NRC346 with displaying the cross section. A maximum nickel grade of 0.74% was recorded between 123 and 124 metres downhole. Mulitple intervals above 0.4% nickel occur within the larger 50 metre sulphide zone. The nickel sulphides are associated almost exclusively with a gabbroic unit within a larger mafic-ultramafic intrusion. MgO levels average 6.9% over the mineralised gabbroic interval with a high MgO (>20%) ultramafic rock directly underneath. A large ovoid magnetic anomaly 100 metres north of NRC346 is interpreted to be caused by a mafic/ultramafic intrusion which disrupts the typically linear magnetic pattern of the sills and flows in the district. NRC346 was part of a regional scout drilling campaign on existing tracks. The area to the north of NRC346 is now a priority target for follow up drilling and the upcoming drill holes will focus on defining the sulphide zone and its potential relationship with the interpreted intrusion. Follow up RC drilling is planned to commence in late November. This round of drilling will include down hole EM surveying to look for massive sulphide accumulations beneath the conductive sediment layer. Announcement • Oct 28
Galileo Mining Ltd Announces Increasing Palladium Grades from Callisto Diamond Drilling Galileo Mining Ltd. announced drill assays from diamond core drilling at the Callisto palladium-platinum-gold-rhodium-copper-nickel discovery within the Company's 100% owned Norseman project in Western Australia. The section on line 6,448,000 north, where the current assays have been returned from drill hole NRCD279. Assays for adjacent core drill holes NRCD278 and NRCD280 are pending with assays from the RC pre-collar on NRCD278 available and shown on the section. An increase in palladium-platinum-gold-copper-nickel grades in NRCD279 appears to be related to a flatter section of the underlying stratigraphy beneath the ultramafic sill which hosts the mineralisation. 25 NQ diamond core holes have been drilled for a total of 3,699 metres. Three drill holes are twin core holes of existing RC drilling (discovery hole NRC266, NRC274, and NRC275). These drill holes will be sampled and assayed prior to a selection of core being used for metallurgical testing. Metallurgical test work is expected to begin in early December. All diamond core holes have been collared with RC drilling which saves time and capital. Disseminated nickel sulphides have been discovered north of Callisto and assays are expected in early to mid-November from the most prospective of the drill holes completed in scout drilling within this new area. Announcement • Oct 13
Galileo Mining Ltd Announces Drill Assays from the First Massive Sulphides Intersected at the Callisto Palladium-Platinum-Gold-Rhodium-Copper-Nickel Discovery at Norseman Project in Western Australia Galileo Mining Ltd. announced drill assays from the first massive sulphides intersected at the Callisto palladium-platinum-gold-rhodium-copper-nickel discovery within the Company's Norseman project in Western Australia. The presence of cobalt in the massive sulphide unit, with high grades up to 0.18%, is new for Callisto where cobalt grades in the palladium rich sulphide zone are most often around 0.01%. The massive sulphide texture, the high grades of cobalt recorded, and the physical separation between the two zones of metal enrichment, all point towards the discovery of a new style of mineralisation at Callisto. Down hole EM surveying is planned to look for a potential source of the massive sulphide as the massive sulphide unit will provide a much stronger conductive response than the deeper, palladium rich, disseminated sulphides. Disseminated nickel sulphides have been discovered north of Callisto; massive sulphide discovered above Callisto in NRCD293; and mineralisation continues to extend to the northwest. All of these newly discovered zones of mineralisation demonstrate the opportunity for growth, through a combination of drilling out the known metal rich sulphide zones, and the potential for new discoveries in the five kilometres of prospective ground to the north. Announcement • Oct 12
Galileo Mining Ltd Provides High Grade Assays Continue At Callisto Galileo Mining Ltd. announced drill assays from the ongoing RC drill program at the Callisto palladium-platinum-gold-rhodium-copper-nickel discovery within the Company's 100% owned Norseman project in Western Australia. Two rigs (one RC and one diamond drill) are continuing to drill at the Callisto discovery with assays received for RC drilling from the northern line 6,448,100N. Results from NRC309 on the western end of the line show that the sulphide zone is gently folded and that the grade in the west-northwest direction appears to be increasing. No drilling exists west or north of NRC309 and this area is now a priority target for follow up RC drilling. The appearance of disseminated nickel sulphides 300 metres to the north of NRC309 is particularly encouraging for the prospectivity of this location. The occurrence of a three-metre seam in NRC309 with higher values of palladium, platinum, and gold, is also interpreted as a positive sign for the potential grade distribution in the new zone to the northwest. Metal zonation at Callisto is interpreted to be plunging in a west- northwest to east-southeast orientation. The new nickel sulphide zone to the north may be a separate mineralised pulse from Callisto and, if this were the case, the possibility of further mineralised events along the five-kilometre zone to the north would consequently be interpreted as even more likely. Announcement • Oct 10
Galileo Mining Ltd Announces New Nickel Sulphide Zone Discovered North of Callisto Galileo Mining Ltd. provided an exploration update from ongoing RC drilling north of the Callisto palladium- platinum-gold-rhodium-nickel-copper discovery within the Company's 100% owned Norseman project in Western Australia. To date the company have undertaken scout RC drilling up to 500 metres north of Callisto with plans to extend this to 1,000 metres in the current program. The recent approval of proposed drill programs from the Department of Mines now allows for systematic drilling of the prospective geological horizons up to 3.5km north. At the same time the diamond drill rig continues to drill down dip of Callisto where the mineralisation is interpreted to continue into Galileo's tenements. Scout RC drilling undertaken on an existing track 400 metres north of Callisto discovery drill hole NRC266 intersected disseminated nickel sulphide mineralisation with total sulphide content estimated at 5% over the logged interval in NRC346.(3) An adjacent drill hole 100m to the east (NRC347) also intersected disseminated sulphides with a lower overall abundance of logged sulphides. Two further drill holes were then completed with an 85-degree dip to establish the geometry and extent of mineralisation on the drill line (NRC353 and NRC354). Portable XRF analyses has confirmed the presence of nickel sulphides which were logged in drill chips. Copper values registered on the pXRF were not significant and it is unknown whether the new nickel sulphide zone represents a similar style of mineralisation to that discovered at Callisto or a new mineralised domain. Diamond drilling continues at the Callisto discovery with the extent of sulphide mineralisation, and the geometry of metal distribution within the sulphide zones, yet to be determined. Current interpretation of the metal enriched sulphide zone at Callisto implies that the high value metals are contained within a west- northwest to east-southeast trending corridor, open in both directions. Samples from the new zone of nickel sulphide have been submitted to the laboratory with first results expected in approximately five weeks. Exploration RC drilling will meanwhile continue to the north, targeting the interpreted prospective geological horizons on Galileo's tenements. Announcement • Sep 20
Galileo Mining Ltd Announces Drill Assays from the Ongoing RC Drill Program at the Callisto Palladium- Platinum-Gold-Rhodium-Copper-Nickel Discovery Within the Company's 100% Owned Norseman Project in Western Australia Galileo Mining Ltd. announced drill assays from the ongoing RC drill program at the Callisto palladium- platinum-gold-rhodium-copper-nickel discovery within the Company's 100% owned Norseman project in Western Australia. Assays from the diamond core drill tails are currently pending along with multiple other drill holes. To date approximately 1,400 meters of diamond core drilling (all as drill tails) has been completed at Callisto. Assay results for diamond core are dependent on laboratory turnaround times with current expectations that the first diamond core assays will be available in late September to October. Approximately 8,600 meters of RC drilling has been undertaken since the current round of RC drilling began in August with the vast majority of assay results still outstanding. Of note is the development of a new ‘seam’ of PGE-Cu-Ni within the ultramafic rock above the lower zone. This mineralization is consistent between drill holes at a 0.5 g/t 3E cut-off and peaks at 8m @ 1.39 g/t 3E in NRC303 where it dips shallowly to the east. The significance of this particular new zone will depend on the assay results from down-dip drill holes (NRC304, NRC305, NRC306). However, as a generalization, the observation of new and distinct mineralized units within the large ultramafic sill is a positive development for the prospectivity of the overall five-kilometer-long host rock target zone. This is because the host rock is demonstrating that it can accommodate multiple mineralized units adjacent to, and at some distance from, the underlying sedimentary rock unit. for the current assay release. Announcement • Aug 30
Galileo Mining Ltd Provides Drilling Update from the Callisto Palladium-Platinum-Gold-Rhodium-Copper-Nickel Discovery Galileo Mining Ltd. provided a drilling update from the Callisto palladium-platinum-gold-rhodium-copper-nickel discovery within the company's 100% owned Norseman project in Western Australia. 582 metres of diamond core drilling has been completed of the initial planned 2,000 metre program. Five diamond core tails have been finished with every core hole intersecting sulphide mineralisation. Fifteen more diamond core tails are scheduled for completion over the coming six weeks. Drill core has been preliminarily logged with detailed lithological and structural logging to be undertaken prior to cutting, sampling, and assaying. Assay results for diamond core are dependent on laboratory turnaround times with current expectations that the first diamond core assays will be available in late September. 1,349 metres of additional RC drilling has been completed since the previous ASX update on the 18th of August 2022. Six drill holes were completed to full depth through the disseminated sulphide zone within the ultramafic sill. One drill hole was installed as a pre-collar for a diamond core drill tail. 3,828 metres of the planned 10,000 metre program have now been completed with the option of extending the program as required. Assay results from the current RC drill program are expected to start coming back from the laboratory in mid-September. Announcement • Aug 18
Galileo Mining Ltd Provides Exploration Update at the Callisto Palladium-Platinum-Gold-Rhodium-Copper-Nickel Discovery Within Norseman Project Galileo Mining Ltd. provided an exploration update including the start of diamond drilling at the Callisto palladium-platinum-gold-rhodium-copper-nickel discovery within the Company's 100% owned Norseman project in Western Australia. Highlights: Diamond drilling has commenced at the Callisto palladium discovery with the first diamond drill tail to be undertaken on NRC278 which ended in mineralization: 18 metres @ 1.02 g/t 3E (0.83 g/t Pd, 0.15 g/t Pt, 0.05 g/t Au), 0.20% Cu & 0.24% Ni from 214m (NRC278) and 3 metres @ 1.62 g/t 3E (1.33 g/t Pd, 0.23 g/t Pt, 0.06 g/t Au),0.20% Cu & 0.21% Ni from 255m (drill hole ended in mineralisation); Diamond drilling designed to target down dip extensions at depthwhere the mineralisation continues to be open; Up to 2,000 metres of diamond drilling to be undertaken in the current program with the option of extending the drill contract; RC drill rig continues to operate and is 25% of the way through a 10,000-metre drill program with the option of extending the drill contract as required; Eight RC drill holes completed to date in the current program with each drill hole intercepting sulphides. Four RC pre-collars installed in preparation for diamond drill core tails; Disseminated sulphide zones between 16 and 48m thick were logged in completed drill holes.(2) Drill samples submitted tolaboratory with assays expected in September; RC drilling is targeting both the known mineralisation at a 50m spacing and the along strike potential up to one kilometre north; A sequence of 12 RC drill holes is planned between 300m and 1,000m north of the current drilling with the opportunity for additional new discoveries to be made; Further drill assays received from the previous RC program with drilled intersections at a 0.5 g/t 3E cut-off including: 33 metres @ 1.03 g/t 3E (0.84 g/t Pd, 0.15 g/t Pt, 0.04 g/t Au), 0.16% Cu & 0.22% Ni from 192m (NRC284). Announcement • Aug 06
Galileo Mining Ltd, Annual General Meeting, Sep 22, 2022 Galileo Mining Ltd, Annual General Meeting, Sep 22, 2022, at 13:00 W. Australia Standard Time. Location: The offices of HLB Mann Judd, Level 4, 130 Stirling Street Perth Western Australia Australia Announcement • Aug 05
Galileo Mining Ltd Announces Rhodium Assays from First Four RC Holes of the Second RC Drill Program At Norseman Project Galileo Mining Ltd. announced rhodium assays from the first four RC holes of the second RC drill program at the Callisto palladium-platinum-gold-copper-nickel discovery within the Company's 100% owned Norseman project in Western Australia. Highlights: First four drill holes of the second RC program at the Callisto palladium discovery have returned consistent rhodium grades over the previously reported mineralised intervals (1) Updated down hole drilled intersections with rhodium include (2) (true thickness not yet known); 23 metres @ 2.19 g/t 4E (1.74 g/t Pd, 0.30 g/t Pt, 0.09 g/t Au, 0.06 g/t Rh), 0.35% Cu & 0.35% Ni from 144m (NRC274); 29 metres @ 2.28 g/t 4E (1.80 g/t Pd, 0.33 g/t Pt, 0.09 g/t Au, 0.05 g/t Rh), 0.32% Cu & 0.31% Ni from 143m (NRC275); 20 metres @ 1.83 g/t 4E (1.47 g/t Pd, 0.25 g/t Pt, 0.07 g/t Au, 0.04 g/t Rh), 0.27% Cu & 0.30% Ni from 150m (NRC276); 12 metres @ 1.86 g/t 4E (1.48 g/t Pd, 0.25 g/t Pt, 0.08 g/t Au, 0.05 g/t Rh), 0.31% Cu & 0.30% Ni from 147m (NRC277) and o 22 metres @ 1.72 g/t 4E (1.33 g/t Pd, 0.23 g/t Pt, 0.11 g/t Au, 0.05 g/t Rh), 0.27% Cu & 0.27% Ni from 177m (NRC277) Occurrence of rhodium builds confidence in the interpreted mineralisation model at Callisto Rhodium analysis is now routinely being carried out for high grade palladium zones intersected in ongoing drilling Rhodium price is approximately US$14,500 per oz (3) with increasing demand for rhodium linked to its use in pollution control systems. Announcement • Aug 03
Galileo Mining Ltd Announces Drill Assays from A Further Eight RC Holes of the Second RC Drill Program At the Callisto Palladium-Platinum-Gold-Copper-Nickel Discovery Galileo Mining Ltd. announced drill assays from a further eight RC holes of the second RC drill program at the Callisto palladium-platinum-gold-copper-nickel discovery within the Company's 100% owned Norseman project in Western Australia. Highlights: Further eight RC drill holes from the second RC program at the Callisto palladium discovery have returned significant palladium-platinum-gold-copper-nickel assays; Mineralisation on the northern sections is continuing towards the surface with the shallowest intersection to date at approximately 110m depth (NRC285 and NRC287); Major down hole drilled intersections at a 0.5 g/t 3E cut-off include; 27 metres @ 1.44 g/t 3E (1.18 g/t Pd, 0.20 g/t Pt, 0.06 g/t Au), 0.23% Cu & 0.25% Ni from 125m (NRC282); 29 metres @ 1.41 g/t 3E (1.13 g/t Pd, 0.20 g/t Pt, 0.07 g/t Au), 0.24% Cu & 0.24% Ni from 127m (NRC281); 28 metres @ 1.20 g/t 3E (0.97 g/t Pd, 0.17 g/t Pt, 0.06 g/t Au), 0.25% Cu & 0.26% Ni from 118m (NRC285); 25 metres @ 1.18 g/t 3E (0.94 g/t Pd, 0.18 g/t Pt, 0.06 g/t Au), 0.20% Cu & 0.25% Ni from 132m (NRC287); 18 metres @ 1.02 g/t 3E (0.83 g/t Pd, 0.15 g/t Pt, 0.05 g/t Au), 0.20% Cu & 0.24% Ni from 214m (NRC278) and 3 metres @ 1.62 g/t 3E (1.33 g/t Pd, 0.23 g/t Pt, 0.06 g/t Au), 0.20% Cu & 0.21% Ni from 255m (drill hole ended in mineralisation). Mineralisation is open in all directions and now extends over 300 metres across strike on the southern and central lines and over 200 metres across strike on the northern line 10,000 metre RC drill program currently underway with drilling planned to target both the known mineralisation and along strike potential up to one kilometre to the north Samples from reported intersections will now be analysed for rhodium content. Assays from four RC drill holes of the second program are still pending. Announcement • Aug 02
Galileo Mining Ltd Announces Extensive Drill Campaign Begins At Callisto Discovery Galileo Mining Ltd. to announced RC drilling has recommenced at the Company's 100% owned Callisto discovery near Norseman in Western Australia. The drill program is designed to follow up on the widespread and consistent palladium-platinum-gold-copper- nickel sulphide intersections reported to the ASX in May, June, and July 2022. The drill campaign consists of 50-metre spaced drill holes around the known mineralisation combined with regional scale drilling up to one kilometre north of the existing drill holes. Recent Insider Transactions Derivative • Jul 21
Board Member exercised options and sold AU$549k worth of stock On the 18th of July, Mathew Whyte exercised options to acquire 450k shares at no cost and sold these for an average price of AU$1.22 per share. This trade did not impact their existing holding. Since September 2021, Mathew has owned 200.00k shares directly. Company insiders have collectively bought AU$2.0m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jul 13
Galileo Mining Ltd Announces Geological Results from the Second Reverse Circulation Drilling Program Galileo Mining Ltd. announced geological results from the second Reverse Circulation (RC) drilling program at the Callisto discovery within the Company's 100% owned Norseman project in Western Australia. Eleven additional drill holes have been completed with each drill hole intersecting disseminated sulphide mineralisation geologically consistent with the first round of drilling. The first round of drilling (2), and the first assays from the second round of drilling (3), showed the sulphide layer at the base of the layered ultramafic sill to be associated with palladium, platinum, gold, rhodium, nickel and copper metal. The second round of RC drilling at Callisto is now complete with a total of 3,939 metres drilled over 16 drill holes and three pre-collars. Each pre-collar has been designed to allow for the completion of a diamond drill tail into the east dipping section of the mineralisation. The geometry of the sulphide mineralisation appears to be flat lying before it begins to dip to the east. Mineralisation is not yet closed off on the flat lying areas to the west with the possibility of extensions to the west at a relatively shallow depth below surface. Mineralisation is also open to the north, south and east. The next round of RC drilling aims to expand the known mineralisation along strike and to the west. Diamond drilling will focus on the down dip zones to the east. Announcement • Jul 12
Galileo Mining Ltd Announces Drill Assays from the First Four RC Holes of the Second RC Drill Program At the Callisto Palladium-Platinum-Gold-Copper-Nickel Discovery Within the Company's 100% Owned Norseman Project in Western Australia Galileo Mining Ltd. announced drill assays from the first four RC holes of the second RC drill program at the Callisto palladium-platinum-gold-copper-nickel discovery within the Company's 100% owned Norseman project in Western Australia. Highlights: First four RC drill holes (1) of the second RC program at the Callisto palladium discovery have returned significant palladium- platinum-gold-copper-nickel assays. High grade palladium and platinum assays recorded to date with 8.25 g/t Pd & 1.94 g/t Pt over one metre in NRC275 (2); High grade palladium and platinum results show potential for the occurrence of high-grade zones within the overall mineralised system; Major down hole drilled intersections at a 1.0 g/t 3E cut-off (2) (true thickness not yet known); 23 metres @ 2.12 g/t 3E (1.74 g/t Pd, 0.30 g/t Pt, 0.09 g/t Au), 0.35% Cu & 0.35% Ni from 144m (NRC274); 29 metres @ 2.22 g/t 3E (1.80 g/t Pd, 0.33 g/t Pt, 0.09 g/t Au), 0.32% Cu & 0.31% Ni from 143m (NRC275); 20 metres @ 1.79 g/t 3E (1.47 g/t Pd, 0.25 g/t Pt, 0.07 g/t Au), 0.27% Cu & 0.30% Ni from 150m (NRC276); 12 metres @ 1.81 g/t 3E (1.48 g/t Pd, 0.25 g/t Pt, 0.08 g/t Au), 0.31% Cu & 0.30% Ni from 147m (NRC277) and 22 metres @ 1.67 g/t 3E (1.33 g/t Pd, 0.23 g/t Pt, 0.11 g/t Au), 0.27% Cu & 0.27% Ni from 177m (NRC277). Samples from reported intersections are now being analysed for rhodium content. Assays expected in August. Wider intervals of sulphide mineralisation with down hole drilled intersections at a 0.5 g/t 3E cut-off (3) (true thickness not yet known) reported as; 36 metres @ 1.63 g/t 3E (1.33 g/t Pd, 0.23 g/t Pt, 0.07 g/t Au), 0.27% Cu & 0.28% Ni from 138m (NRC274); 38 metres @ 1.84 g/t 3E (1.49 g/t Pd, 0.28 g/t Pt, 0.08 g/t Au), 0.26% Cu & 0.28% Ni from 136m (NRC275); 37 metres @ 1.26 g/t 3E (1.04 g/t Pd, 0.18 g/t Pt, 0.05 g/t Au), 0.25% Cu & 0.22% Ni from 146m (NRC276); 17 metres @ 1.50 g/t 3E (1.22 g/t Pd, 0.21 g/t Pt, 0.07 g/t Au), 0.25% Cu & 0.26% Ni from 142m (NRC277) and 31 metres @ 1.40 g/t 3E (1.11 g/t Pd, 0.19 g/t Pt, 0.09 g/t Au), 0.22% Cu & 0.24% Ni from 169m (NRC277). Mineralisation is open in all directions and now extends over 300 metres across strike on section 6,448,000N. Second drill program nearly complete with next assays expected in August 2022. Announcement • Jul 07
Galileo Mining Ltd announced that it has received AUD 20.4 million in funding from IGO Limited Galileo Mining Ltd announced a private placement of 17,000,000 shares at a price of AUD 1.2 per share for gross proceeds of AUD 20,400,000 to institutional and sophisticated investors on June 7, 2022. The company also issued 974,615 unquoted options with an exercise price of AUD 2.40 per Option and an expiry date of July 13, 2024. The transaction included participation from existing shareholders Mark Creasy and IGO Limited of AUD 8,700,000. Allotment of the placement shares will take place on or about July 13 2022. The transaction was oversubscribed. Announcement • Jun 21
Galileo Mining Ltd Announces Geological Results from the Ongoing Reverse Circulation Drilling Program at the Callisto Discovery Within the Company's 100% Owned Norseman Project in Western Australia Galileo Mining Ltd. announced geological results from the ongoing Reverse Circulation (RC) drilling program at the Callisto discovery within the Company's 100% owned Norseman project in Western Australia. Four drill holes have been completed with each drill hole intersecting disseminated sulphide mineralisation geologically consistent with the first round of drilling. The first round of drilling showed the sulphide layer at the base of the layered ultramafic sill to be associated with palladium, platinum, gold, rhodium, nickel and copper. Drilling production rates have been slowed by high rainfall and a second rig is scheduled to arrive on site on 22nd of June 2022. The second rig will speed up drilling rates with approximately 16 further drill holes planned for the current program bringing the total to 20 holes for this campaign. Laboratory assays are estimated to be available in late July for the drilling completed to date. Highlights: First four RC drill holes of the ongoing RC program at the Callisto palladium discovery have all intersected wide zones of disseminated nickel and copper sulphide mineralization. RC drilling is a follow up to the discovery drilling announced in May 2022 with numerous intercepts including; 33 metres @ 2.05 g/t 4E (1.64 g/t Pd, 0.28 g/t Pt, 0.09 g/t Au, 0.05 g/t Rh), 0.32% Cu & 0.30% Ni from 144m (NRC266). Portable XRF analyses confirm the presence of nickel and copper sulphides. Mineralised sulphide zone is now interpreted to extend at least 250 metres across strike. Disseminated sulphide zones up to 28 metres drilled thickness (NRC274 and NRC276) and disseminated sulphide zones over 20 metres drilled thickness in every drill hole. Samples from first four drill holes have been submitted for laboratory analysis with results expected in late July. Drilling has been impacted by high rainfall. Second rig to be mobilised to site to increase production rates. Announcement • Jun 08
Galileo Mining Ltd. Appoints Cecilia Camarri as an Independent Non-Executive Director Director Galileo Mining Ltd. announced the appointment of highly experienced mining lawyer Cecilia Camarri as an Independent Non-Executive Director of the Company. Cecilia is Special Counsel at a WA law firm and has extensive experience specialising in the mining industry. Cecilia acts as a legal adviser to private and listed mining companies and has both operational and management experience. She began her mining career in 1996 at the historic Great Fingall Gold Mine at Day Dawn near Cue in WA. Following this Cecilia undertook community and public relations management roles at the Super Pit /Mt Charlotte underground mine and Alcoa's Wagerup Refinery before becoming a lawyer. Cecilia has acted for many WA based exploration and mining companies and was the In-House Counsel for the Creasy Group between 2012 and 2016. Cecilia has a Bachelor of Laws, a Graduate Diploma in Journalism, a Bachelor of Arts, and is a member of the Australian Institute of Company Directors. Announcement • Jun 07
Galileo Mining Ltd Announces RC Drilling Has Commenced At the Company's 100% Owned Callisto Discovery Within the Norseman Project Area in Western Australia Galileo Mining Ltd. announced that RC drilling has commenced at the Callisto discovery with a 4,000- metre program planned to run for approximately five weeks Priority targets to be tested as follow up of palladium-platinum- gold-nickel-copper-rhodium intersections from shallow depths; (1) o 33 metres @ 2.05 g/t 4E (2) (1.64 g/t Pd, 0.28 g/t Pt, 0.09 g/t Au, 0.05 g/t Rh), 0.32% Cu & 0.30% Ni from 144m (NRC266) o 22 metres @ 1.60 g/t 3E (2) (1.32 g/t Pd, 0.21 g/t Pt, 0.07 g/t Au), 0.25% Cu & 0.26% Ni from 135m (NRC269) o 28 metres @ 1.58 g/t 3E (1.29 g/t Pd, 0.22 g/t Pt, 0.07 g/t Au), 0.27% Cu & 0.26% Ni from 137m (NRC268) o 19 metres @ 1.69 g/t 3E (1.38 g/t Pd, 0.23 g/t Pt, 0.09 g/t Au), 0.24% Cu & 0.28% Ni from 124m (NRC267) Results to be provided when available with laboratory assays expected from late July 2022. Galileo Mining Ltd. announce RC drilling has commenced at the company's 100% owned Callisto discovery within the Norseman project area in Western Australia. The drill program is focussed on the Callisto discovery where six drill holes reported to the ASX in May 2022 each intersected palladium-platinum-gold-copper-nickel sulphide intersections. NRC266 was additionally analysed for rhodium with positive results released to the market on the 27 May 2022. Announcement • May 29
Galileo Mining Ltd Reports Rhodium Assays Drill Hole NRC266 from the Callisto Discovery At 100% Owned Norseman Project in Western Australia Galileo Mining Ltd. reported rhodium assays in previously announced drill hole NRC266 from the Callisto discovery at the Company's 100% owned Norseman project in Western Australia. Initial interpretation of results from the Callisto discovery continue to show similarities with South Africa's Platreef deposits with disseminated sulphide mineralisation hosted in the lower unit of a layered ultramafic sill. Drill assays from NRC266 now confirm the presence of rhodium in addition to palladium-platinum-gold-copper- nickel. These metals also occur in the Platreef deposits in a similar disseminated mineralisation style and in a similar host rock. Petrographical examination of drill chips from NRC266 is ongoing with the intention of describing the host rock in more detail. Deeper diamond core drilling is planned for later in the year which will allow a broader interpretation of the mineralisation setting, and a better understanding of the regional potential for more discoveries. RC drilling is planned to resume on Thursday 2nd June subject to weather conditions and the drill rig mobilising to site. 20 drill holes are planned for approximately 4,000 metres of drilling with the priority target zones located across strike to the east of the current drilling. Drill holes in the imminent campaign will be spaced roughly 50m apart in order to define grade variation across strike prior to step out drilling along strike. Individual rhodium assays per one metre interval. Ruthenium, osmium, and iridium assays were not significant and were all less than 20ppb. Recent Insider Transactions Derivative • May 29
Chairman & MD exercised options to buy AU$14m worth of stock. On the 27th of May, Richard Underwood exercised options to buy 8m shares at a strike price of around AU$0.24, costing a total of AU$2.0m. This transaction amounted to 2,773% of their direct individual holding at the time of the trade. Since June 2021, Richard has owned 300.00k shares directly. Company insiders have collectively bought AU$2.6m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • May 27
Galileo Mining Ltd Announces the Drill Assays from Five of the Six RC Holes Completed at the Callisto Palladium-Platinum-Copper-Nickel Discovery at Norseman Project Galileo Mining Ltd. announces drill assays from five of the six RC holes completed at the Callisto palladium-platinum-copper-nickel discovery at the Company's 100% owned Norseman project in Western Australia. Galileo's Managing Director Brad Underwood commented; "The assays from all drill holes undertaken at Callisto contain significant zones of mineralisation and confirm initial results from the discovery drill hole NRC266. Today's results are a very important step forward as shown the sulphides are carrying high value metals in all six drill holes completed. The next round of RC drilling is due to begin late next week with a focus on drilling across strike to determine the thickest and highest grades in the easterly direction. The same program of drilling will then continue to the north as aimed to move from discovery drilling to advanced and detailed resource drilling. Six holes for 1,142 metres were drilled at Callisto with discovery hole NRC266 recorded the widest interval of sulphide mineralisation. Figure 1 shows the drill section through 6,448,000 north with NRC266 and the assays from NRC264 and NRC265. The zone to the east of NRC266 is now a priority target and will be tested in the drill program due to commence next week. Figure 3 shows a plan view of the existing drill holes with the target zone for the upcoming drilling. The target zone is a sulphide mineralised unit developed at the base of an ultramafic sill where it intrudes into a package of sedimentary rocks. Encouragingly, every drill hole exhibits a consistent geological mineralisation pattern. Drill holes in the initial program were completed on two east-west lines spaced 50 metres apart with a 50-metre drill spacing along the lines. Drill holes in the upcoming program will continue to be spaced approximately 50m apart with the intention of defining the grade variation across strike prior to step out drilling along strike to the north. Initial interpretation of results from the Callisto discovery continue to show similarities with South Africa's Platreef deposits with disseminated sulphide mineralisation hosted in the lower unit of a layered ultramafic sill. The initial samples from NRC266 are currently at the laboratory for nickel sulphide collection fire assay with assays pending (to test for rhodium, osmium, ruthenium, iridium). Significant prospectivity could be added to the area if the samples are found to contain rhodium or other PGE metals. Down hole EM surveying of NRC266 and NRC269 has been completed with a strong EM response below the holes modelled as a single large plate and interpreted to represent a sediment. Deep diamond drilling is planned for later in the year to explore for additional mineralisation below the sediment. Announcement • May 12
Galileo Mining Ltd Announces the Discovery of Significant Palladium-Platinum-Copper-Nickel-Sulphide At the Company's 100% Owned Norseman Project in Western Australia Galileo Mining Ltd. announced the discovery of significant palladium-platinum-copper-nickel-sulphide at the Company's 100% owned Norseman project in Western Australia. Six holes for 1,142 metres were drilled at Callisto. The target is a mineralised sulphide unit developed at the base of an ultramafic sill where it intrudes into a package of sedimentary rocks. Every drill hole exhibits a consistent geological pattern in downhole logging weak disseminated sulphides/disseminated sulphides/weak disseminated sulphides/(ultramafic)/sediment. Drill holes were completed on two east-west lines spaced 50 metres apart with a 50-metre drill spacing along the lines. Drill hole NRC266 recorded the widest interval of sulphide mineralisation with sulphide abundance increasing to the east in the drilling. The zone to the east of NRC266 is now a priority target for drill testing. Laboratory assays for the remaining drilling at Callisto (NRC264, NRC265, NRC267-NRC269, and remaining sections of NRC266) are expected in approximately six weeks. The initial samples from NRC266 have been re-submitted to the laboratory for nickel sulphide collection fire assay (to test for rhodium, osmium, ruthenium, iridium, palladium, platinum, gold). Significant prospectivity could be added to the area if the samples are found to contain rhodium or other PGE metals. Down hole EM surveying of NRC266 and NRC269 is currently underway with survey results to assist with the design of upcoming drilling. RC drilling will resume at Callisto as soon as possible and with the expectation that this will occur in mid-June. Initial appraisal of the results from Callisto indicates similarities in mineralisation style to the Platreef deposits on the northern limb of the Bushveld Complex in South Africa. Mineralisation at Platreef is contained within disseminated sulphides of less than 1% to more than 25% with very rare massive sulphide. Drilling to date at Callisto has intercepted disseminated sulphide of less than 5% with sulphides increasing to the east. The Platreef deposits are very large in nature and have combined indicated resources of >700Mt at a 1 g/t 3PE+Au cut off. Contained metals at Platreef include palladium, platinum, gold, rhodium, copper, and nickel. Forward work program in 2022 at the Norseman project: Assaying of all drill holes from the current RC program; Down hole EM surveying of selected drill holes to assist with next stage of drill targeting; Petrography of selected samples to determine precise rock classifications (as a guide to mineral fertility and prospectivity); 2,000 to 5,000 metre RC drill program at the Callisto priority sulphide zone; RC drilling of EM and geochemical targets at the Jimberlana prospect; IP and surface EM surveying of geological and geochemical targets at the Mission Sill prospect; Aircore drilling of 4 km untested prospective contact zone at the Mission Sill prospect; RC drill testing of geophysical and geochemical targets at the Mission Sill prospect. Announcement • Apr 21
Galileo Mining Ltd Announces RC Drilling Commenced At Norseman Project Located Within the Prolific Norseman-Wiluna Greenstone Belt of Western Australia Galileo Mining Ltd. announced RC drilling has commenced at the Company's 100% owned Norseman project located within the prolific Norseman-Wiluna greenstone belt of Western Australia. The drill program is concentrated on the sulphide intersections identified by previous Galileo drilling at the Mt Thirsty and Jimberlana prospects. Early indications of economic sulphides have been reported in aircore and RC drilling, and the current program aims to confirm mineralisation whilst aiming to define zones of higher palladium and nickel metal content. Highlights: RC drilling has commenced at the Norseman Project with a 1,600-metre program planned to run for approximately two weeks.Priority palladium-nickel targets to be tested as follow up of sulphide intersections at shallow depths; 27 metres @ 0.58 g/t Pd, 0.12 g/t Pt, 0.18% Ni & 0.13% Cu from 123m (MTRC096) including 3 metres @ 1.1 g/t Pd, 0.19 g/t Pt, 0.26% Ni & 0.23% Cu; and 24 metres @ 0.51 g/t Pd, 0.08 g/t Pt, 0.15 % Ni & 0.10% Cu from 132m (MTRC086). Additional twin drill hole planned to follow up on aircore drilling which intersected massive sulphide at bottom-of-hole with; 1 metre @ 0.24% Ni, 0.35% Cu, 0.04% Co and 0.25 g/t Pd from 60m (NAC105). Market update with geological results to be provided after completion of drilling. Laboratory assay results expected in May/June 2022. Announcement • Mar 29
Galileo Mining Ltd Announces Assay Results from Aircore Drilling At Norseman Project in Western Australia Galileo Mining Ltd. announced further nickel, cobalt, palladium, and platinum assay results from aircore drilling at the Company's 100% owned Norseman project in Western Australia. Laboratory results from aircore drilling at the Jimberlana prospect and from the northern end of the Mission Sill prospect have been received. The high nickel and cobalt results in NAC126 were drilled in a zone on the northern margin of the Jimberlana Dyke where it comes in contact with the Mission Sill prospect. NAC126 is approximately 800m east of NAC105 which intersected massive sulphides in bottom of hole chips (Figure 2). Subsequent EM surveying around NAC105 delineated large EM conductors beneath drill hole NAC105. Additional EM surveying and IPsurveying is now planned to follow up the results from NAC126. NAC126 aircore chips with nickel/cobalt/palladium & platinum. Iron rich weatheredultramafic (saprolite) - 4 metres @ 1.66% nickel, 0.16% cobalt, .31 g/t 2E from 32m. See Tables 1 & 2 for assay details. Metre numbers are the end of the interval ie. 33 denotes the interval from 32 to 33m. Assay results demonstrate the continuity of palladium mineralisation over 9km of strike length at the Mission Sill prospect of which 4km remains untested by drilling (Figures 2 and 4). IP surveying and RC drilling will be used to explore this extensive zone looking for disseminated sulphides at depth that could represent economic accumulations of palladium and/or nickel. Figure 4 shows the extent of Mission Sill with the prospective target zone and the four kilometres of untested strike length with no palladium exploration. This unexplored contact position will be targeted with first pass aircore drilling, IP surveying, and follow up RC drill testing. RC drilling of palladium-nickel targets at the Mt Thirsty prospect (follow up of drill results including 27m @ 0.58g/t Pd, 0.12 g/t Pt, 0.13% Cu and 0.18% Ni; is planned for April while additional drill testing of the Jimberlana and Mission Sill prospects will be undertaken after the completion of heritage surveys and receipt of statutory approvals. Announcement • Mar 10
Galileo Mining Ltd Announces Highly Prospective Palladium Assays from Norseman Drilling Galileo Mining Ltd. announced palladium assay results from aircore drilling at the Company's 100% owned Norseman project in Western Australia. Partial results from 2021 drilling at the Norseman project's Mission Sill prospect have been received with further assay results expected over the coming weeks. Numerous aircore drill holes from the Mission Sill prospect have returned anomalous palladium results greater than 0.1 g/t Pd. Drill holes were undertaken on drill lines between 200 and 800 metres apart with a nominal drill spacing of 50 metres along the line. The target zone is the contact between the ultramafic and mafic units of the Mission Sill. This contact can be delineated in the magnetic imagery and previous RC drilling at this margin has encountered disseminated sulphides in fresh rock (up to 5% in patches, with up to 74m @ 0.19 g/t Pd in fresh rock) (3). The purpose of the recent aircore drilling was to define palladium anomalism within the regolith in order to guide the location of RC drilling targeting sulphide mineralisation in fresh rock. Analyses of multi-element data and petrography of selected samples will be undertaken to assist in this process. Magnetic interpretation will also be utilised to select areas with the potential for higher grade mineralisation along the contact position. Those assays considered to be significantly anomalous contain greater than 0.1 g/t Pd over the width of the assay interval. Most assays were received from four metre composite samples with three, two or one metre samples used where required by the end depth of the drill hole. Figure 1 shows the location of anomalous aircore drill holes at the southern end of the Mission Sill. Figure 2 shows the extent of the Mission Sill with the prospective target zone and the four kilometres of untested strike length with no palladium exploration. This unexplored contact position will be targeted with first pass aircore drilling and follow up RC drill testing. Statutory approvals have been received for RC drilling at the Mt Thirsty prospect. Work is expected to begin in April 2022, subject to drill rig availability, with approximately 1,000 metres of drilling planned. Previous drilling by Galileo beneath the cobalt-nickel laterite resource at Mt Thirsty intersected a zone of sulphide containing highly anomalous levels of palladium, platinum, copper, and nickel. This sulphide zone occurs within an ultramafic rock unit interpreted to be an apophysis from the Mt Thirsty sill. The contact between the intruding sill and the flat lying stratigraphy is the prospective target zone with potential for higher grade mineralisation. The grade within the sulphide zone increases towards the east, supporting the idea that more mineralisation occurs within the target zone. Announcement • Mar 04
Galileo Mining Ltd Announces Nickel-Copper-Cobalt-Palladium Assay Results from Aircore Drilling at it's 100% Owned Norseman Project in Western Australia Galileo Mining Ltd. announced nickel-copper-cobalt-palladium assay results from aircore drilling at the Company's 100% owned Norseman project in Western Australia. Partial results from the 2021 drill campaign at the Norseman project have now been received with further results expected over the coming weeks. Multiple aircore drill hole assay results have been received with anomalous nickel-copper-cobalt-palladium values. Those assays considered to be significantly anomalous contain greater than 0.1% copper and/or greater than 0.1 g/t palladium over the width of the assay interval. Copper and palladium have been selected as those elements are more likely to be related to bed rock sulphide mineralisation. Most assays were received from four metre composite samples with three, two or one metre samples used where required by the end depth of the drill hole. Significant assays from drill holes around the southern EM conductor are listed in Table 1. Of particular note is the presence of nickel, copper, cobalt and palladium in NAC068 which is located up dip of the J1 conductive target. Results from neighbouring drill holes NAC066 and NAC076 also support the drill target at the modelled conductor. Results from drill holes adjacent to the previously reported massive sulphide intercept in NAC105 (2) have not yet been reported from the laboratory. However, the existence of sulphide and the strength of the conductive anomalies demonstrates that this is a priority area for follow up drilling. Announcement • Feb 22
Galileo Mining Ltd Announces Drill Targets At the Fraser Range Project in Western Australia Galileo Mining Ltd. announced drill targets at the Company's Fraser Range project in Western Australia are ready to be tested with the drill contractor expected to commence work in February. Galileo's previous drilling at the Empire Rose prospect in 2018 and 2019 showed anomalous nickel and gold results.1 A review of results has revealed untested targets down dip of aircore drilling as well as along strike of prospective mafic and ultramafic intrusive rocks. These new targets are the subject of the upcoming drill campaign. The Empire Rose prospect is located at the southern end of the Fraser Range and is just 30km from IGO's operating Nova nickel mine in a highly prospective section of the mineral belt. Five targets are planned for testing in the imminent drill campaign. Two targets are related to geological positions developed from aircore drilling and the remaining three targets have been established through a combination of EM surveying and magnetic interpretation. The best nickel result from aircore drilling was 36m @ 0.2 % nickel in saprolite. An RC drill hole has been planned to test beneath ERAC015 to assess the potential for disseminated nickel sulphides in the large and strike extensive sill. Aircore drilling also identified a pyroxenite sill with petrographical work showing the rock to most likely be of cumulate origin. The presence of minor pyrrhotite in the petrographic sample also suggests the possibility for this unit to contain disseminated mineralisation in fresh rock at depth. An RC drill hole has been designed to drill beneath the aircore intersection to test the pyroxenite unit for nickel sulphide fertility. Three targets adjacent to a large magnetic anomaly have been defined utilising EM data in conjunction with magnetic and geological interpretation. The EM targets are moderately to weakly conductive models that may represent accumulations of disseminated to semi-massive sulphides. Diamond drilling in 2019 showed that previously tested EM anomalies in the area were related to sulphide mineralisation with minor gold anomalism. Geological review of all available data suggests that the targets currently been considered may be caused by sulphide mineralisation however EM anomalies can result from a variety of sources including non-economic sulphides, graphite, or sulphidic sediments. The initial program includes a single drill hole into each of these target zones with follow up drilling as required. Multi-element assaying, petrographical analysis, and down hole EM surveying will be undertaken upon the completion of drilling. Laboratory assays are expected to be received in April/May as the continued high demand for laboratory services results in longer than standard turnaround times. Announcement • Feb 09
Galileo Mining Ltd Announces the Results of EM Surveying at the Company's 100% Owned Norseman Project in Western Australia Galileo Mining Ltd. announced the results of EM surveying at the Company's 100% owned Norseman project in Western Australia. EM surveying was designed to target prospective areas on the margin of the largescale Jimberlana Dyke where recent aircore drilling intercepted massive sulphide mineralisation at 60 metres downhole.(1) Interpretation of EM data shows that the sulphide occurrence in drill hole NAC105 is located at the confluence of two large and highly conductive bodies. A separate conductive target has been identified on the southern margin of theJimberlana Dyke with extremely high modelled conductivities interpreted to represent a significant source thickness. A coincident magnetic anomaly at thislocation adds support to the target. Conductive EM targets can result from a variety of sources including economicnickel-copper-cobalt-palladium mineralisation, non-economic sulphides, graphite or sulphidic sediments. Drill testing is required to determine the source of theconductors identified at Norseman. Announcement • Jan 24
Galileo Mining Ltd Announces Em Surveying of Massive Sulphide in Aircore Drilling Has Commenced At the Company's 100% Owned Norseman Project in Western Australia Galileo Mining Ltd. announced EM surveying of massive sulphide in aircore drilling has commenced at the Company's 100% owned Norseman project in Western Australia. Drilling in November identified sulphide mineralisation just 60 metres down hole with assays reporting prospective early results of 1 metre @ 0.24% nickel, 0.35% copper, 0.04% cobalt and 0.25 g/t palladium.EM surveying is a very useful tool in exploration due to the conductive response of sulphide minerals that can contain nickel, copper, cobalt and palladium. Massive and semi-massive nickel deposits frequently exhibit conductive signatures when a current is passed through the earth. However, disseminated sulphides, and d eposits with complex geometry, may only provide subdued conductive responses. As the sulphides in aircore drilling at Norseman are at shallow depth, a moving loop survey using a 100m loop size has been designed to maximise any subtle change in response that may be related to accumulations of massive, semi-massive and/or disseminated sulphides. Announcement • Dec 15
Galileo Mining Ltd Provides Update on Exploration Activities at its Fraser Range and Norseman Projects in Western Australia Galileo Mining Ltd. provided an update on exploration activities at the company's Fraser Range and Norseman projects in Western Australia. The first diamond drilling campaign at the Delta Blues prospect is now complete with two holes drilled at the DB2 target. Drill holes DBDD001 and DBDD002 were designed to test a conductive target beneath sulphide mineralisation previously intercepted in RC drilling. While matrix, stringer, and disseminated sulphides were intercepted in both drill holes it is unsure whether the modelled conductor can be adequately explained by the mineralisation intercepted or is in part related to graphite which accompanies some sections of the sulphide mineralisation. Observed sulphides are predominantly pyrrhotite with minor chalcopyrite. Down hole EM surveying and laboratory assaying will be required to determine whether there are further targets for drilling within the prospect area. Geological logging recorded typical Fraser Range meta-sediments and mafic granulites as well as units of felsic (tonalite) intrusive rocks. The intrusive units occur proximal and adjacent to the sulphides and may have a causative relationship. Felsic intrusive samples from RC drill hole DBRC001 were examined petrographically under the microscope and were determined to be trondhjemite, a variety of tonalite. Regional aircore drilling at Norseman has now been completed with 8,700 metres drilled at multiple new nickel and palladium drill targets. Massive sulphide was intercepted in drill hole NAC105 with the drill bit unable to break through the mineralisation. Assay results showed values of 0.24% nickel. 0.35% copper, 0.04% cobalt and 0.25 g/t palladium over the final metre of the drill hole at just 60m downhole depth. This new zone of sulphide mineralisation will be followed up with EM surveying scheduled to commence in January. The ground EM survey is designed to define further drill targets for RC drill testing in 2022 with the initial and outstanding drill target being the down dip and along strike continuation of the sulphides identified in NAC105. Aircore drill samples from the majority of the drilling at Norseman are expected to start coming back from the laboratory in mid-January. Sample batches were submitted to the lab each week as drilling progressed and assay returns are expected weekly from mid-January onwards. Any material results from the aircore drilling will be released to the market as the assays are returned. Announcement • Nov 29
Galileo Mining Ltd Announces Fraser Range Diamond Drilling Underway Galileo Mining Ltd. announced diamond core drilling is underway at the Company's Delta Blues prospect within the Fraser Range region of Western Australia. Diamond core drilling has commenced at the Delta Blues prospect in the Fraser Range. Minimum program of two drill holes for 1,000m designed to test for mineralisation beneath initial RC drill intercepts: 4 metres @ 0.29 g/t gold and 0.29% copper from 188m (DBRC001) including; 1 metre @ 0.61 g/t gold and 0.66% copper from 190m, 5 metres @ 0.10 g/t gold and 0.25% copper from 167m (DBRC002), 4 metres @ 0.21 g/t gold and 0.27% copper from 154m (DBRC003). Drilling is expected to take three to four weeks to complete with a market update and assays to follow. Recent Insider Transactions • Sep 22
Independent Non-Executive Director recently bought AU$94k worth of stock On the 20th of September, Noel O'Brien bought around 350k shares on-market at roughly AU$0.27 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Sep 13
Galileo Mining Ltd Announces Assay Results from Three Reverse Circulation Drill Holes Completed at the Company's Delta Blues DB2 Prospect Within the Fraser Range Belt in Western Australia Galileo Mining Ltd. announced assay results from three reverse circulation (RC) drill holes completed at the Company's Delta Blues DB2 prospect within the Fraser Range Belt in Western Australia. All three drill holes targeted the very top of a large electro-magnetic (EM) conductor and all three holes recorded sulphide intercepts with anomalous amounts of copper and gold. Diamond drill core testing is now required to test for economic mineralisation beneath the currently reported intercepts at DB2 and to determine the source of the strong EM conductor at the DB1 target. Geology logging at DB2 recorded a thin layer of sediment cover overlying typical Fraser Range meta- sediments and mafic granulites near surface. Small units of mafic (gabbro) intrusive rocks within the meta- sediments were noted prior to the sulphide zones. The sulphide mineralisation in all drill holes occurs as semi- massive bands surrounded by disseminated sulphide within a mafic intrusion adjacent to a medium grained felsic intrusion. These intrusions have been preliminarily logged on site as a gabbro and a tonalite with petrography underway to determine the precise rock classifications. One metre split samples from RC drillholes DBRC001, DBRC002, and DBRC003 were sent to the laboratory for priority analyses. These samples were collected between 179m and 200m (DBRC001), 160m and 180m (DBRC002) and 146m and 186m (DBRC003). Assays are reported in Appendix 3 where copper values are greater than 0.1% and are summarised in the highlights section at the beginning of this announcement. The sections of these three drill holes outside of the priority zones, and the single drill hole completed at DB1 (DBRC004), were sampled with three metre composites. Assay results from these samples are still pending. Drill hole collar details and summary drill logs are reported in Appendices 1 and 2 respectively. The economic implications of the assay results from DB2 are at this stage uncertain with deeper diamond drilling required to test the better parts of the EM conductor at depth. The scale of the modelled EM conductor at Delta Blues DB2 is substantial with dimensions up to 500m by 500m (Table 1). The initial three drill holes completed at DB2 have confirmed sulphide mineralisation over a minimum strike length of 210m. Only the very top of the conductor has been drilled and down hole EM surveying will be undertaken to refine the targets prior to diamond drill testing. Timing of diamond drilling is subject to rig availability as Western Australia continues to be affected by labour shortages which limit the ability of contractors to undertake Galileo's drill programs. One drill hole (DBRC004) was completed at the DB1 target (Figure 4). Geological logging of DBRC004 records multiple units of intrusive rocks of the kind associated with known nickel-copper occurrences in the Fraser Range belt.1 The cause of the conductive anomaly at DB1 was not identified and deeper diamond drilling is required to determine the source. It is important to recognise that no graphite or sulphidic sediments were logged in the drill hole and that the strongly conductive source remains unexplained. Announcement • Sep 08
Galileo Mining Ltd announced that it expects to receive AUD 6.5 million in funding Galileo Mining Ltd announced a private placement of 25,000,000 ordinary fully paid shares at a price of AUD $0.26 per share for gross proceeds of AUD 6,500,000 on September 8, 2021. The transaction will include participation from from sophisticated and institutional investors qualifying under s708 of the Corporations Act 2001. The transaction is expected to close on September 15, 2021. Announcement • Jul 24
Galileo Mining Ltd Sets to Kick Off New Rounds of Drilling At Its Fraser Range Nickel-Copper-Cobalt and Norseman Nickel-Cobalt-Palladium Projects in Western Australia Galileo Mining Ltd. is all but set to kick off new rounds of drilling at its Fraser Range nickel-copper-cobalt and Norseman nickel-cobalt-palladium projects in Western Australia. Announcement • Jun 30
Galileo Mining Ltd. Announces Exploration Update Galileo Mining Ltd. advised drilling at the Delta Blues Prospect in the Fraser Range nickel belt is close to commencing with the drill rig prepared to mobilize from Kalgoorlie. The drill contractor has informed Galileo that labour shortages have prevented an immediate start however all other preparations have been completed. A firm start date has not been provided at this stage and an ASX announcement will be made when drilling has commenced on site. Two high priority nickel targets at DB1 and DB2 will be tested with 1,000 meters of diamond drilling planned for the initial program. Two drillholes are planned at the DB2 prospect and one hole planned at the DB1 prospect as a first pass test. Further drilling will be undertaken as and where required. The target generation process has involved EM surveying, aircore drilling, magnetic modelling, and gravity interpretation2. The combined data sets provide a strong case for potential mineralization and drilling is designed to test the prospects for economic metal content. Ongoing EM surveying in the Fraser Range is now focused on a highly prospective area along strike of the Lantern East and Lantern South prospects where previous drilling intersected 41m @ 0.19% nickel and 0.14% copper1. EM surveying is a key technique used in undercover nickel exploration as massive nickel sulphide deposits often exhibit a strongly conductive signature. The prospective geology of the Fraser Range means that any conductive anomalies identified in the surveying will represent high priority nickel sulphide targets. Announcement • May 18
Galileo Mining Ltd Announces Drill Ready Palladium Targets at Norseman Galileo Mining Ltd. announced target generation work at the Norseman Project has identified significant intersections of palladium from the Company's existing drill hole database. Multiple drill ready targets have been developed through geological interpretation of the prospective contact zones which host palladium in association with copper sulphide mineralisation. Highlights: High palladium and rhodium assay results identified in Galileo's database of previous RC drilling beneath and adjacent to existing cobalt resources at Norseman; Palladium and rhodium are high value "green" metals critical for pollution reduction; 35 RC drill holes with anomalous palladium greater than 0.4 g/t in regolith and 16 RC drill holes with anomalous palladium greater than 0.2 g/t in fresh rock; Best palladium results from weathered rock; 48 metres @ 0.89 g/t Pd, 0.45 g/t Pt, 0.1 % Cu & 0.37% Ni from 3m (MTRC112) including 5 metres @ 2.1 g/t Pd, 1.4 g/t Pt, 0.13% Cu & 0.23% Ni from 31m. Best palladium results from fresh rock; 27 metres @ 0.58 g/t Pd, 0.12 g/t Pt, 0.13 % Cu & 0.18% Ni from 123m (MTRC096) including 3 metres @ 1.1 g/t Pd, 0.19 g/t Pt, 0.23% Cu & 0.26% Ni from 135m; 2 metres @ 2.39 g/t Pd, 0.63 g/t Pt, < 0.01 % Cu & 0.11% Ni from 92m (MTRC128) including 1 metre @ 4.3 g/t Pd, 1.1 g/t Pt, < 0.01% Cu & 0.12% Ni from 92m. Palladium occurs in association with rhodium. Only two drill holes assayed for rhodium - prospective maximum grades of 0.36 g/t Rh in weathered rock and 0.18 g/t in fresh rock; Multiple drill ready targets with over 5km of prospective strike length at Mt Thirsty and over 10km of prospective strike length at Mission Sill; Palladium in fresh rock is related to copper sulphide mineralization. Announcement • Mar 17
Galileo Mining Ltd Provides Exploration Update Fraser Range Galileo Mining Ltd. advised that one diamond drill hole has been completed at the Company's Lantern South prospect in Western Australia's Fraser Range region. The drill hole was completed to check for mineralisation beneath RC drill hole LARC012 and to establish a platform for down hole EM surveying. Two zones of heavily disseminated sulphide were intercepted within drill hole LADD003 from 110.5m to 111.35m and from 169m to 171.3m. Sulphides were predominantly pyrrhotite (iron sulphide) with minor pentlandite (nickel sulphide) and minor chalcopyrite (copper sulphide). At the Company's Delta Blues prospect, infill EM surveying has resulted in updated models for two targets at DB1 and DB2. DB1 displays a particularly strong conductivity of 11,000 Siemens and DB2 also has a high modelled conductivity of 3,300 Siemens. While conductive targets can have multiple sources, it is encouraging that weathered sulphides have been recorded in aircore drilling less than 400 metres away from DB1. Meanwhile target DB2 occurs less than 300 metres from sulphides intersected in drilling by S2 Resources. Announcement • Mar 09
Galileo Mining Ltd Announces Fraser Range Exploration Update Galileo Mining Ltd. advises that two diamond drill holes have been completed at the Company's Lantern East prospect. The drill holes targeted an EM anomaly on the margin of a major intrusive rock unit. Drillhole LADD001 tested a Fixed Loop EM model2 and intersected a complex package of intrusive rock units on the margin of the regionally large gabbronorite intrusion at approximately 210m downhole. No significant sulphides were recorded in this drill hole. Drillhole LADD002 tested a Moving Loop EM model2 and intersected the same complex package of intrusive rock units at the contact with the gabbronorite. Minor bands of pyrrhotite (iron sulphide) were noted from 190m downhole which corresponded well with the modelled source of the EM anomaly at this location. Although the structure and geology of the Lantern East prospect is compelling, the sulphide recorded so far is pyrrhotite dominant and does not contain significant nickel or copper mineralisation. A downhole EM survey will be completed to check for off-hole anomalies. Drilling is set to commence at the Lantern South prospect to test for mineralisation beneath LARC012 which intersected 41 metres @ 019% nickel and 0.14% copper. This drill hole is expected to be completed within one week. Announcement • Feb 08
Galileo Mining Ltd Announces Results from EM Surveying over the Delta Blues Prospect in the Fraser Range Region of Western Australia Galileo Mining Ltd. announce results from EM surveying over the Delta Blues Prospect in the Fraser Range region of Western Australia. Three large and strong conductors have been modelled from the EM data at shallow depths between 95 and 170 metres below surface. Infill EM surveying of the newly identified targets is planned to be undertaken in conjunction with ongoing regional surveying at the Delta Blues Prospect. Infill surveying is expected to be completed this quarter with drill planning to commence upon receipt and interpretation of the supplementary data. Aircore drilling at the Delta Blues prospect in late 2019 intersected nickel prospective host rocks with weathered sulphides observed in petrology samples1. Petrographic description of rock chips from DBAC002 identified a metamorphosed cumulate mafic granulite with minor goethised sulphides. Goethised sulphide grains (0.5 - 1%) form 1mm clusters within the sample. This rock unit appears to have intruded a metamorphosed volcano-sedimentary package in a similar geologic environment to magmatic systems with known nickel sulphide mineralisation in the Fraser Range. Modelling of EM data at anomalies DB1a and DB1b show strong conductors of 4,100 Siemens and 2,500 Siemens respectively. Conductor DB1a is 600 metres northwest of drill hole DBAC002 and conductor DB1b is 300 metres west-northwest of DBAC002. Both of these targets are located approximately 4km along strike from Legend Mining's Crean Prospect where drilling has identified ultramafic intrusive rock units prospective for nickel sulphide mineralisation 3. The presence of sulphides in DBAC002 and in S2 Resource's drilling suggests that the cause of the conductive anomalies may well be related to additional sulphide mineralisation. However, conductive anomalies can also be formed by non-economic rock units including graphitic or sulphidic sediments. Further regional EM surveying and infill EM surveying is underway and is expected to be completed this quarter. Drilling programs will be planned following the receipt and interpretation of infill survey data. Announcement • Jan 21
Galileo Mining Ltd Commences 2021 Exploration Field Programs at Fraser Range Nickel Project in Western Australia Galileo Mining Ltd. announced 2021 exploration field programs at the Company's Fraser Range nickel project in Western Australia have commenced. Geophysical survey teams are now undertaking electro-magnetic (EM) programs aiming to define conductive anomalies associated with nickel sulphide mineralisation for drill testing. EM surveying is underway at the Delta Blues prospect where drilling in late 2019 intersected nickel prospective host rocks with weathered sulphides observed in petrology samples. Large areas of prospective ground have yet to be covered and surveying is designed to continue until at least the end of April with the expectation that new conductive targets will be generated for drill testing. EM surveying is a very useful tool in the exploration for nickel sulphide mineralisation due to the conductive response of sulphide minerals that contain nickel. Massive and semi-massive nickel deposits regularly exhibit conductive signatures when a current is passed through the earth. When the surface input current is switched off the secondary current produced in the conductive body can be measured. The decay of the secondary current is then recorded at surface and the observed measurements are modelled by a geophysicist to provide the targets for drill testing. An RC drilling rig is contracted to undertake a drilling program at the Lantern Prospects commencing in mid-February. Approximately 1,200 metres of drilling is planned at the Lantern East and Lantern South prospects. Initial drilling at Lantern East was unable to determine the source of the conductive anomaly and subsequent EM surveying provided additional data to allow for remodelling of the targets. The revised models have conductivities ranging from 2,500 Siemens to 3,925 Siemens and with the top of both bodies less than 180 metres below surface. See Figure 3 for planned drillholes. Drilling is planned at the Lantern South prospect to follow up on sulphide mineralisation previously intercepted. Drillholes are planned to the south of LARC012 to expand the known area of mineralization along the margin of the ultramafic intrusion. Previous intercepts at this prospect include 41 metres @ 0.19% nickel and 0.14% copper from 55m in LARC012. Announcement • Jan 13
Galileo Mining Ltd Announces Norseman Exploration Update Galileo Mining Ltd. provided a summary of assay data received from soil sampling undertaken at its Norseman Project in Western Australia. Soil sampling at Norseman was primarily undertaken to identify areas with prospectivity for nickel sulphide mineralisation. Integration of soil sampling data with geophysical data, hyperspectral data, geological data, topographical data, and satellite imagery will now be undertaken to give the sample assays context and meaning. A specialist remote sensing company has been contracted to collect hyperspectral data and to integrate the new mineral mapping information with existing data sets, including the recently received soil assays. The initial phase of this contract has been completed with the collection of the airborne data. Data interpretation utilising machine learning and Artificial Intelligence (AI) software is ongoing. A follow up exploration program will be devised upon the completion of all data integration and analysis. This is expected to occur in late February with the results to be utilised in the planning of drill programs scheduled for Second Quarter 2021. The Norseman Project occurs at the southern end of the prolific Norseman-Wiluna greenstone belt. Numerous nickel, gold, and lithium mines occur in the area with Figure 1 indicating the location of selected mine sites and the large amount of existing infrastructure in the region. The closest significant nickel occurrences occur 40 to 50 km along strike to the north where the Cassini, Mariners, and Wannaway deposits are located. Galileo owns 100% of two exploration licenses, 18 prospecting licenses and one mining lease, covering 278km2 of ground prospective for nickel, cobalt, copper, lithium, and gold. 1,726 soil samples (1,620 unique sample locations) targeting areas with potential for nickel were recently collected and analysed. The maximum assay for nickel was 3,945ppm (0.39% Ni), for platinum the maximum was 173 ppb (0.17 g/t), for palladium the maximum was 314 ppb (0.31 g/t), for copper the maximum was 640ppm (0.06%) and for gold the maximum was 83 ppb (0.08 g/t). DiMap Spectral GmbH, a German founded remote sensing and data integration specialist, has been contracted to collect and interpret multispectral, hyperspectral data. The data collection phase of this contract has now been undertaken with the airborne survey completed. This data will be used for remote sensing mineral analyses and then prepared for the interface into the machine learning procedures. Further input layers include detailed 50m airborne magnetic and radiometric data, gravity, EM, drill hole geology/assays, and soil assay data. Drill hole data is used for the determination of ore bearing domains and for specification of training areas of the machine learning process. The key deliverable from the process is a mineral prospectivity map highlighting zones within the project area with the greatest potential for mineralisation. The timetable for completion is three months from data collection (completed in December) with results expected in late February. Results will be utilised in the planning of drill programs scheduled for Second Quarter 2021. Is New 90 Day High Low • Jan 12
New 90-day high: AU$0.31 The company is up 22% from its price of AU$0.26 on 14 October 2020. The Australian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Metals and Mining industry, which is also up 22% over the same period. Announcement • Dec 16
Galileo Mining Ltd Announces Fraser Range and Norseman Exploration Update Galileo Mining Ltd. provided an exploration update on field activities at both the Fraser Range and Norseman Projects in Western Australia. RC drilling of priority Fraser Range nickel targets at the Lantern East and Lantern South prospects has been scheduled for mid-February 2021. Approximately 1,200 metres of drilling is planned to test EM conductors at Lantern East and for deeper sulphide mineralisation at Lantern South. Nickel sulphide exploration near Norseman has also been progressed with a large soil sampling program completed and work started on integrating data for processing using machine learning and AI software. An RC drilling rig is scheduled to undertake a program of drilling at the Company's Fraser Range project. Approximately 1,200 metres of drilling is planned at the Lantern East and Lantern South prospects. Initial drilling at Lantern East was unable to determine the source of the conductive anomaly and subsequent EM surveying provided additional data to allow for remodelling of the targets. The revised models have conductivities ranging from 2,500 Siemens to 3,925 Siemens and with the top of both bodies less than 180 metres below surface. Drilling is planned at the Lantern South prospect to follow up on sulphide mineralisation previously intercepted. Drillholes are planned to the south of LARC012 to expand the known area of mineralisation along the margin of the ultramafic intrusion. Previous intercepts at this prospect include 41 metres @ 0.19% nickel and 0.14% copper from 55m in LARC012. EM surveys at the Fraser Range project are ongoing with the field crew currently on break for the Christmas period. Surveying is planned to recommence in mid-January at the Delta Blues prospect. Large areas of prospective ground have yet to be covered and surveying is designed to continue until at least the end of March with the expectation that new conductive targets will be generated for drill testing. The Norseman Project occurs at the southern end of the prolific Norseman-Wiluna greenstone belt. Numerous nickel, gold, and lithium mines occur in the area with Figure 4 indicating the location of selected mine sites and the large amount of existing infrastructure in the region. The closest significant nickel occurrences occur 40 to 50 km along strike to the north where the Cassini, Mariners, and Wannaway deposits are located. Galileo owns 100% of two exploration licenses, 18 prospecting licenses and one mining lease, covering 278km2 of ground prospective for nickel, cobalt, copper, lithium, and gold. 1,726 soil samples have recently been collected targeting areas with strong potential for nickel. Laboratory assays are pending for the samples with fully interpreted results expected to be available in mid-January. DiMap Spectral GmbH, a German founded remote sensing and data integration specialist, has been contracted to collect multispectral, hyperspectral data. This data will be used for remote sensing mineral analyses and then prepared for the interface into the machine learning procedures. Further input layers include detailed 50m airborne magnetic and radiometric data, gravity, EM, drill hole, and assay data. Assay data is used for the determination of ore bearing domains and for specification of training areas of the machine learning process. The key deliverable from the process is a mineral prospectivity map highlighting zones within the project area with the greatest potential for mineralisation. The timetable for completion is three months with results expected in late February. Results will be utilised in the planning of drill programs scheduled for Second Quarter 2021. Announcement • Nov 19
Galileo Mining Ltd Announces Results from a Large Program of Ongoing Electro-Magnetic Surveying Surrounding the Lantern Prospect in the Fraser Range Region of Western Australia Galileo Mining Ltd. announced results from a large program of ongoing electro-magnetic (EM) surveying surrounding the Lantern Prospect in the Fraser Range region of Western Australia. Surveying at the Green Moon prospect has identified another strong EM conductor to complement the existing targets at the Lantern East/South and North prospects. Ongoing EM surveying on Galileo's exploration ground has uncovered a large and strong conductor approximately six kilometres from the Lantern Prospect where sulphides have previously been intersected. The new conductor is at the Green Moon prospect where near surface aircore drilling has previously defined mafic intrusive rock types prospective for magmatic nickel-copper deposits. The recently completed section of the EM survey covered 77.2km of survey lines being 790 stations over an area of approximately 31km2. The survey crew have now moved to the south and are estimated to have covered 50% of the new survey area. The southern survey is scheduled for completion in November. Modelling of the Green Moon anomaly shows a strong conductor of 4,000 Siemens with a strike length of 300 metres at a depth of 545 metres below surface. Table 1 shows the parameters of the new conductor at Green Moon along with the existing conductors at adjacent prospects. Announcement • Oct 05
Galileo Mining Ltd Announces Fraser Range Exploration Update Galileo Mining Ltd. announced RC drilling results from the Company's Lantern prospect within the Fraser Range Nickel Belt of Western Australia. RC drilling was undertaken in August to expand the known area of mineralised ultramafic target rocks at the Lantern South prospect, to investigate the stratigraphy at the Lantern East prospect, and to establish pre- collars for a diamond drilling program which has subsequently been completed. Assays from LARC012 showed anomalous nickel and copper over 41 metres from the shallow depth of 55 metres downhole. Importantly, nickel and copper were also associated with anomalous gold, platinum and palladium which are significant indicators of magmatic nickel-copper systems. Previous nickel and copper intersected at a similar depth in LARC002 was found to be related to sulphide mineralisation at depth in LARC003 and LARC013D. This strongly suggests that sulphide mineralisation will exist beneath LARC012. The sulphide target zone on the western margin of the ultramafic unit continues to be open further to the south. 1,181 metres of RC drilling was completed, split between four targeted RC drill holes and three pre-collars designed for diamond core tails. Location and target details of the drill holes are included. 416 metres of diamond core tails were drilled into three areas with two of the three diamond drill holes intersecting significant sulphide (1). The drill hole into the magnetic embayment target (LARC011D) intersected a distinct change in lithology however this contact was not found to be associated with sulphide mineralisation. All logging of the diamond drill core has now been undertaken and samples sent to the laboratory with assays pending. Due to a substantial build-up of samples at the laboratory it is anticipated that assays will take a minimum of four weeks to be returned. Logging of diamond core has provided a large amount of structural and lithological data which will greatly assist in building up the exploration model for the area. LARC013D was drilled approximately 10 metres along strike from LARC003 and will help establish whether a plunge component to the mineralization exists. RC drillhole LARC009 was abandoned, due to a shanked bit downhole, before it could fully test the sulphide target zone. This zone will need to be assessed in a later drilling program. RC drill hole LARC007 and diamond drill hole LARC008D targeted the Lantern East prospect where a conductive response was observed in Moving Loop and Fixed Loop surface EM surveys (2). LARC007 tested the up-dip stratigraphy of the conductive model and LARC008D was drilled through the model. Drilling did not intersect any conductive lithologies and this area remains a focus for further work. It is noteworthy that no sulphidic or graphitic sediments have been observed which increases the likelihood that the conductive response is related to a sulphide source hosted within intrusive rock units. Lantern East will be subject to further EM surveying with the new data to be used in better constraining the conductive model prior to a second round of drill testing. Upcoming work programs planned at the Lantern Prospect include: Assaying of diamond drill core, petrographic examination of rocks, and analyses of sulphide mineralogy including nickel tenors; Integration of diamond drilling data with geological exploration models; and Drill testing of sulphide targets at Lantern South and revised modelled conductor at Lantern East. Is New 90 Day High Low • Sep 30
New 90-day low: AU$0.21 The company is down 5.0% from its price of AU$0.22 on 02 July 2020. The Australian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 6.0% over the same period. 