GALILEO MINING LTD — Capital/Financing Update 2022

Jul 13, 2022

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14 July 2022 ASX: GAL

Corporate Directory

Directors

Chairman & Managing Director Brad Underwood

Non-Executive Director Noel O’Brien

Non-Executive Director Noel O’Brien

Non-Executive Director Mathew Whyte

Projects

Fraser Range Project Nickel-Copper-Cobalt

Norseman Project Palladium-Nickel-CopperRhodium-Platinum-Gold

Completion of Placement and Cleansing Notice

Galileo Mining Ltd ( ASX : GAL, “ Galileo ” or the “ Company ”) advises that it has today issued the following fully paid ordinary shares (“ Shares ’):

• 17,000,000 Shares pursuant to the Placement to raise $20.4 million as announced on 6 July 2022: and

• 1,600,000 Shares on exercise and conversion of 1,600,000 Performance Rights (ASX: GALAD).

Cleansing Notice

The Company gives the following information pursuant to Section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ) in relation to the issue of the Shares:

1. The Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act.

2. As at the date of this notice, the Company has complied with: a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

   • b) Section 674 of the Corporations Act; and

3. As at the date of this notice, there is not any “excluded information” (within the meaning of Sections 708A(7) and 708A(8) of the Corporations Act) in relation to the Company.

Capital Structure

The Company’s capital structure following today’s issue of securities is as follows:

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ASX Code	Security	Number
Quoted
GAL	Fully Paid Ordinary Shares	197,408,260
Unquoted
GALAN	Options Ex $0.52/ Exp 15/9/2023	2,500,000
TBA by ASX	Options Ex $2.40/ Exp 14/7/2024	974,615

Please refer to the Company’s Appendix 2A Application for Quotation of Securities and Appendix 3G Notification of Issue of Unquoted Securities lodged with ASX today’s date for further information.

Authorised for release by the Galileo Board of Directors.

Investor information: phone Galileo Mining on + 61 8 9463 0063 or email info@galmining.com.au

Contact Details

T: +61 8 9463 0063 E: info@galmining.com.au W: www.galileomining.com.au 13 Colin St, West Perth, WA

Media:

David Tasker Managing Director Chapter One Advisors E: dtasker@chapteroneadvisors.com.au T: +61 433 112 936

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