New drill programme for Shinganda

The Board of Galileo Resources Plc ("Galileo" or the "Company") is pleased to confirm the granting of a contract to undertake the Shinganda Phase 3 drill programme to assess up to 10km strike length of Cu - Au mineral-bearing fault structures broadly defined by the Company to date.

Highlights

• The planned Reverse Circulation (RC) drilling programme will focus on delineating further shallow, open-pittable copper-gold mineralisation along a combined strike length of about 10km on the Shinganda Main Fault and Splay structures
• The programme objective is to define a substantial resource of supergene mineralisation ranging up to 2% CuEq grade at shallow depths, following on from previous drill intercepts, such as 50.3m @ 1.77% CuEq from 21m depth in Galileo hole SDDD002 and 17m @ 2.00% CuEq from 7m depth in historic Vale hole DH0004.
• Drilling profiles have been selected based on the recommendations of a recently completed geophysical modelling study on the airborne magnetic data as well as knowledge gained from the earlier drill phases.
• Drilling is scheduled to commence about mid-August 2024, with an initial programme of up to 30 holes for 2,400m and possible additional meterage to be determined by the results of the Phase 3 programme.

Colin Bird, Executive Chairman said: "The Shinganda exploration area has met all our expectations and still presents a number of mineral styles to be explored. We have however homed in on zones of clearly defined, structurally controlled copper-gold bearing iron carbonate alteration close to surface with significant strike potential. The drill programme is expected to commence shortly, and we are excited about the specific concession target and the licence area in general. We will keep the market informed of the outcome of the drilling and field work as we progress."

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