Licence 28001 Update, Western Foreland, NW Zambia

The Company is pleased to provide an update on exploration and drilling on Licence 28001 - HQ - LEL in Northwest Zambia. The Licence located within the Western Foreland geological domain is targeting combinations of lithology typically associated with redox fronts analogous to Kamoa-Kakula-type copper mineralisation.

Highlights

• Drilling of two holes totalling 706.4m successfully established the stratigraphy of the wider licence area and have informed future exploration with regard to hole location and priority stratigraphic sequences most likely to generate redox fronts and therefore potential copper mineralisation.
• Detailed ground geophysics, interpretation of historical geophysical data, mapping and stream sediment sampling has established that portion of the Licence most likely to host the geological and architectural features required for Kamoa - Kakula-type mineralisation.
• Priority areas within the Licence have been identified and planning for follow-up work is underway to ensure exploration can commence at the end of the current rainy season with the aim of identifying focussed targets for drill testing.

Colin Bird Chairman & CEO said: "Galileo is undertaking geological exploration in its truest sense in the Western Foreland where it has been necessary to first drill to verify that the Licence is located within the Western Foreland domain. The potential benefits for successful exploration and discovery is significant particularly as the Western Foreland in neighbouring DRC hosts the second richest copper mines in the world. We have now reduced our search area to the most prospective parts of the Licence and look forward to the next exploration campaign after the rainy season".

Western Foreland Exploration

The Licence overlays the Western Foreland geological domain. The known extent of the Western Foreland overlies Northwestern Zambia, neighbouring DRC and Angola (Figure 1).

Figure 1: Galileo Licence (blue outline) and boreholes drilled in 2024.

Recent discoveries by Ivanhoe, within the DRC's extension of the Western Foreland, reaffirmed the stratabound nature of mineralisation, governed by redox fronts associated with particular combinations of overlying strata.

Mapping, geophysical interpretation and focused ground magnetic surveying was undertaken to infer stratigraphy and determine the best locations for diamond drilling. Two diamond core holes, totalling 706.4m were drilled. The holes established the stratigraphy of the targeted area and will help direct future drilling.

The 2025 exploration programme will focus on the potential redox boundaries inferred from the defined stratigraphy. A focused soil and stream sediment survey, followed by ground electro -magnetic (EM) surveying is planned. Positive results will be followed up with diamond core drilling.

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