Exploration Update from Ferber Property, Nevada

Galileo Resources Plc ("Galileo") is pleased to report completion of the planned Phase 1 exploration programme aimed at delineating priority drill targets at its' 100% owned Ferber Property ("the Property") under the terms of a Royalty and Exploration Agreement with Bronco Creek Exploration Inc. ("BCE"), a wholly-owned subsidiary of Elemental Royalty Corporation (TSX-V: ELE, NASDAQ: ELE).

Highlights

• Work completed as part of the Phase 1 Target Generation programme include:

o Mapping over a total area of approximately 70km2, with collection of 109 rock grab samples for assay.

o Following discovery of mineralised workings and bedrock alteration west of the existing claim holding, a further 89 claims were staked to extend the property.

o Soil sampling programme carried out traversing the property - analytical results to be collated.

o Completion of a ground gravity survey highlighting major structures and potential drill targets.

• Further historic data was obtained, including full airborne and ground magnetic coverage, IP survey results and additional drill data.
• New data generated by the Phase 1 Galileo/BCE work will be integrated with the historic exploration information and modelled to develop Phase 2 priority Reconnaissance Drilling targets in line with the agreement between the companies.
• Once Phase 1 data integration is completed BCE will provide Galileo with a final data compilation and a Targeting Report and in return Galileo will grant a 0.33% perpetual NSR Royalty.
• The Phase 2 Reconnaissance Drilling program is anticipated in the first half of 2026, as soon as weather, permitting, and drill availability allow.

Colin Bird Chairman & CEO said: "We are very pleased with the results of the field work carried out under our agreement with BCE. Exploration has extended the target area, encompassing some 10km of strike extent, with additional results to come. We are working towards identification of initial reconnaissance drill targets and shareholders will be kept up to date as the project advances further."

Galileo/BCE Royalty and Exploration Agreement Summary

Please refer to RNS dated 13 May 2025

Ferber Project Background

The Property, located 40 kilometres south of Wendover in Elko County, Nevada, comprises a series of patented and unpatented claims covering an area of about 30 square kilometres.

The Ferber District consists of a multi-phase Eocene igneous complex intruding Pennsylvania-Permian age carbonates. The limestone units are domed around the intrusive. Marble and skarn are developed at the margin of the intrusive complex. The sedimentary and intrusive rock is cut by faults of various orientations. Polymetallic mineralisation occurs as contact skarn and replacement in limestone and the intrusive. Possible structurally controlled sediment hosted gold deposits are present, as well as a porphyry base metals/gold target.

Copper-lead-silver-gold deposits were discovered in the area in the 1880s. Ore was shipped from the Martha Washington, Big Chief, Regent and other small mines intermittently over the years. Limited production figures for the mines list 97,878 pounds copper, 192,613 pounds lead, 11,851 ounces silver. Cordex Exploration, Royal Gold and FMC Corporation have conducted exploration in the area since 1980s-1990s.

Numerous surface samples have been collected during historic exploration along with limited, mostly shallow, drilling. Reported drill intercepts include 2.37g/t Au over 4.6m and 0.59g/t Au over 10.7m as well as 0.83% Cu over 12.0m. Individual grab samples collected by Galileo from old workings and dumps have ranged up to 10.8g/t Au, 674g/t Ag, 4.19% Cu, 8.71% Pb and 7.62% Zn. In addition, assaying for a limited range of other elements has shown anomalous levels of bismuth and arsenic which are on the US list of critical minerals.

Technical Sign-Off

You can also follow Galileo on Twitter: @GalileoResource

Technical Glossary