GALILEO MINING LTD — Capital/Financing Update 2024

Sep 30, 2024

ASX Announcement

1 October 2024

ASX: GAL

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Exploration Results and Upcoming Drilling at Untested Target Zones

Highlights

• Results from recent RC drill campaign continue to show prospective zones of palladium-platinum close to the existing Callisto resource

• Drill results include wide zones of anomalous PGE;

• 8m @ 0.21 g/t 3E[1] from 128m (NRC505)

• 20m @ 0.18 g/t 3E from 180m (NRC502)

• 36m @ 0.14 g/t 3E from 128m (NRC501)

• Assay results demonstrate two target models for the Norseman Project: Callisto-style sulphide mineralisation at the base of intrusive sills and mineralisation at the interface between mafic and ultramafic rock units

• Mapping and geochemical analysis of the Mission Sill prospect, parallel to Callisto, highlights over ten km strike of untested target zone at the base of the intrusive sill

• Next drill campaign scheduled to commence in November with a 5,000 metre aircore program to be completed

Galileo Mining Ltd (ASX: GAL, “ Galileo ” or the “ Company ”) is pleased to provide assay results and drilling plans for the Company’s 100% owned Norseman project in Western Australia.

Galileo Managing Director Brad Underwood commented ; “Results from our RC drill campaign at Norseman continue to show prospective palladium and platinum assays. These results are highly encouraging as they display how widely distributed the mineralisation is within our Norseman project area. Our ground has never been systematically explored for palladium-platinum mineralisation and we are the first to realise the potential of this region. That understanding has

1 3E = Pd + Pt + Au expressed in g/t

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Registered Office: 945 Wellington St, West Perth, WA, 6005 Mailing Address: P.O. Box 415, West Perth WA 6872 Phone: +61 8 9463 0063 Email: info@galileomining.com.au Website: galileomining.com.au

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received a significant boost with the results from our mapping campaign and from computer processing of geochemical data at our Mission Sill prospect. This prospect is approximately six kilometres from Callisto with the same host rock sequence of ultramafic and mafic units. Geological mapping and geochemical analyses have now recognised the basal contact target at the Mission Sill as a similar stratigraphic position to that which hosts the Callisto palladium-nickel deposit. This zone is untested over ten kilometres of strike and will be targeted in the upcoming November drill campaign. Galileo is an active exploration company undertaking multiple drill campaigns each year with the aim of discovering new resources from our extensive tenement package and we look forward to the next drill program in this newly discovered mineral province.”

Approximately 2,100m of RC drilling was undertaken in August/September targeting a series of geophysical and geochemical anomalies. Disseminated sulphide minerals were intersected coincident with EM conductors, IP geophysical chargeable zones, and at geochemical targets. Several drill intersections in ultramafic and mafic rocks (the potential host units for economic mineralisation) contained anomalous palladium and platinum results (see Appendix 1).

NRC502 was drilled as a follow up to geochemical anomalies identified in NRC463 and NRC496 (Figure 1). This target is at a separate geological position to that of the Callisto deposit. Anomalous palladium and platinum at this position is occurring at the contact between ultramafic and mafic units within the host rock sill. This is a different geological target to Callisto style mineralisation which occurs at the base of the ultramafic sill. These results indicate the potential for additional styles of palladium-platinum mineralisation beyond that known to occur at the Callisto deposit and are an excellent sign for future exploration within the Norseman area.

Figure 1 –Chargeability IP model of 6,449,700N with anomalous drill results in NRC502 and previous drill results at the contact between ultramafic and gabbroic rocks units. Each hatched square is 50m.

NRC463: 132m @ 0.21 g/t 3E from 60m in ultramafic/gabbro NRC502: 20m @ 0.18 g/t 3E from 180m & 22m @ 0.14 g/t 3E from 212m in NRC496: 84m @ 0.13 g/t 3E ultramafic/gabbro from 208m in ultramafic 2 | P a g e

NRC463: 132m @ 0.21 g/t 3E from 60m in ultramafic/gabbro

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NRC501 was drilled 450m north along strike from NRC502 and confirmed the presence of anomalous palladium/platinum at the ultramafic/gabbro interface (see location plan map in Figure 5 and Appendices 1 and 2 for drill hole details).

NRC499 and NRC500 were drilled into a conductive target identified through down hole electromagnetic (DHEM) surveying (see ASX announcement dated 22[nd] July 2024). Both drill holes intercepted disseminated sulphides in ultramafic rock units overlying sediments, the same geological configuration as that seen at the Callisto deposit. This corresponded to the interpreted prospective basal position of the ultramafic units however the accompanying sulphides did not contain anomalous levels of economic mineralisation. Overall drill results from the program demonstrate the value of targeting geophysical anomalies (EM & IP) as these can accurately identify the geological positions where economic metals may occur.

Figure 2 – Modelled conductive target zone and interpreted basal contact unit targeted by NRC499 and NRC500. Resistivity background image (low resistance = red colour, related to higher conductivity zones)

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Near surface
anomaly in
weathered zone
Modelled conductor - drill target
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Drill hole NRC505 was directed at a geophysical Induced Polarisation (IP) chargeable zone and as a follow up to NRC498 which intersected anomalous palladium and platinum (Figure 3 and ASX announcement dated 12[th] June 2024). NRC505 intersected weakly disseminated sulphides within an interpreted structure with anomalous palladium and platinum over eight metres. These results support the use of IP surveying to define prospective sulphide zones within the Norseman project area.

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Figure 3 – Chargeability IP model of 6,449,100N (dipole-dipole data) with anomalous drill results in drill hole NRC505 and previous drill hole NRC498.

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NRC505: 8m @ 0.21 g/t
3E from 128m in
ultramafic Sediment geophysical
chargeable anomaly
NRC498: 64m @ 0.22 g/t
3E from 104m in
ultramafic
Geophysical
chargeable anomaly
target zone
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Mission Sill Prospect Planned Drilling

The Mission Sill prospect is a mafic-ultramafic sill complex parallel to the Callisto sill unit and located approximately 3km to the east of the southern end of the Callisto sill (see location map in Figure 6). Geological prospect mapping undertaken by Model Earth Pty Ltd at a 1:10,000 scale has accurately identified the basal position of the Mission Sill over a 10km strike length. This zone has not been targeted for palladium or platinum with previous drilling at the prospect restricted to laterite drilling and base metal/PGE drilling within the centre of the sill. Positive signs for the fertility of the Mission Sill have been recorded from the central part of the Mission Sill which was drilled prior to the discovery of Callisto in 2022. Anomalous palladium/platinum results reported in early 2022 include;[2]

• 8 metres @ 1.44 g/t 2E (palladium + platinum, NAC151)

• 20 metres @ 0.32 g/t 2E (palladium + platinum, NAC149)

• 7 metres @ 0.40 g/t palladium (NAC025)

• 18 metres @ 0.29 g/t palladium (NAC017)

Following the Callisto discovery, and the much-increased understanding of the prospective geology, the basal unit of the Mission Sill is now recognised as having significant capacity for Callisto style sulphide deposits. This interpretation is further supported by geochemical analyses of nickel/chrome ratios from surficial samples with the western margin of the Mission Sill having strong ratios > 1, indicative of potential for nickel sulphide related deposits (Figure 4).

1 See ASX announcements dated 8th March 2022 and 24th March 2022

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Figure 4 – Ni/Cr ratios at the Mission Sill with magnetic TMI2VD image on the left and 1:10,000 scale mapping on the right. Both Ni/Cr ratios and geological mapping imply the basal unit of the Mission Sill as most prospective for Callisto style sulphide deposits. Red hatched lines on both images shows the position of the basal unit of the intrusive sill complex.

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An aircore drilling program of 5,000 metres has been designed to drill test the basal unit of the Mission Sill at multiple positions along the 10km strike length. This program will be looking for palladium, platinum and nickel enrichment which may be linked to economic sulphide mineralisation. The next drill program is scheduled to commence in November 2024.

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Figure 5 – North Callisto prospect with sulphide target zone and location of recent drilling. TMI magnetic background image.

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Figure 6 – Callisto deposit and prospective geological trends at Galileo’s Norseman project.

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Figure 7 – Norseman project location map with a selection of mines, resources, and infrastructure in the region.

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About Galileo Mining:

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Galileo Mining Ltd (ASX: GAL) is focussed on the exploration and development of PGE (palladiumplatinum), nickel, copper, and cobalt resources in Western Australia. GAL’s tenements near Norseman are highly prospective for new discoveries as shown by the Callisto deposit. GAL also has Joint Ventures with the Creasy Group over tenements in the Fraser Range which are prospective for nickelcopper sulphide deposits similar to the operating Nova mine.

Norseman (100% GAL)

The wholly owned Norseman project contains the Callisto Discovery and adjacent regional prospects Jimberlana and Mission Sill with potential for palladium, platinum, nickel, copper, cobalt, and rhodium mineralisation. Galileo’s tenure at Norseman comprises mining, exploration, and prospecting licenses covering a total area of 255 km[2] .

The Callisto deposit was discovered in 2022 and is the first deposit of its type identified in Australia, analogous in mineralisation style to the Platreef deposits found in South Africa. An initial Mineral Resource Estimate was reported in 2023 with 17.5 Mt @ 1.04g/t 4E[1] , 0.20% Ni, 0.16% Cu (2.3g/t PdEq[2] or 0.52% NiEq[3] ).

Table 1 - Callisto Deposit Maiden Mineral Resource Estimate (JORC 2012) (see ASX announcement: 2 October 2023)

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Metal equivalent price assumptions of Callisto Resource released on 2[nd] October 2023

Based on metallurgical test work completed to date, the Company believes that Callisto’s mineralisation is amenable to concentration using a conventional crushing, milling and flotation process and has Reasonable Prospects for Eventual Economic Extraction.

Metallurgical recovery assumptions used for metal equivalent value calculations were: Pd – 82%, Pt – 78%, Au – 79%, Rh – 63%, Ni – 77%, Cu – 94%

Metal price assumptions, based on 12 month calculated averages to 11[th] September 2023, were used for metal equivalent values: Pd – US$1,600/oz, Pt – US$975/oz, Au – US$1,870/oz, Rh – US$9,420/oz, Ni - US23,800/t, Cu – US$8,420/t

Fraser Range (67% GAL / 33% Creasy Group JV)

Galileo is actively exploring for magmatic massive sulphide- nickel-copper deposits across its Fraser Range tenements covering over 600km[2] of highly prospective ground in the Albany-Fraser Orogen. The project is well positioned within the nickel-copper bearing Fraser Range Zone, with the Nova-Bollinger mine located between 30km and 90km from Galileo tenure.

14E = Palladium (Pd) + Platinum (Pt) + Gold (Au) + Rhodium (Rh) expressed in g/t

2 PdEq (Palladium Equivalent) = Pd (g/t) + 0.580 x Pt (g/t) + 1.13 x Au (g/t) + 4.52 x Rh (g/t) + 4.34 x Ni (%) + 1.88 x Cu (%)

3 NiEq (Nickel equivalent) = Ni % + 0.230 x Pd (g/t) + 0.133 x Pt (g/t) + 0.259 x Au (g/t) + 1.04 x Rh (g/t) + 0.432 x Cu (%)

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Competent Person Statement

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The information in this report that relates to Exploration Results is based on, and fairly represents, information and supporting documentation prepared by Mr Brad Underwood, a Member of the Australasian Institute of Mining and Metallurgy, and a full time employee of Galileo Mining Ltd. Mr Underwood has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Underwood consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

With regard to the Company’s ASX Announcements referenced in the above Announcement, the Company is not aware of any new information or data that materially affects the information included in the Announcements.

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

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

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Appendix 1: Anomalous RC Drill Hole Intersections

>0.1g/t 3E cut-off over minimum 8 metre interval (2 x 4m composite samples), no internal dilution. Reported as downhole width, true width unknown. 3E = Palladium (Pd) + Platinum (Pt) + Gold (Au); expressed in g/t.

Hole ID	From (m)	To (m)	Interval (m)	3E (Pd+ Pt+ Au; g/t)	Palladium (g/t)	Platinum (g/t)	Gold (g/t)	Nickel (%)
NRC501	128	164	36	0.14	0.07	0.04	0.03	0.09
NRC502	180	200	20	0.18	0.06	0.11	0.01	0.02
and	212	234	22	0.14	0.02	0.10	0.02	0.02
NRC503	112	120	8	0.12	0.09	0.02	<0.01	0.08
NRC505	128	136	8	0.21	0.12	0.09	<0.01	0.13

Appendix 2: Drill Hole Collar Details

Hole ID	East	North	RL	Azimuth	Dip	Total Depth (m)
NRC499	373148	6453211	323	320	-64	450
NRC500	372756	6453199	317	249	-69	246
NRC501	373470	6450125	367	271	-60	246
NRC502	373462	6449673	349	271	-55	234
NRC503	373260	6448842	174	336	-75	174
NRC504	372795	6448331	120	316	-60	120
NRC505	372450	6449070	352	92	-64	258
NRC506	372100	6449070	340	269	-60	348

Note: Easting and Northing coordinates are GDA94 Zone 51.

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Appendix 3:

Galileo Mining Ltd – Norseman Project

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	•Reverse Circulation (RC) drilling was used to obtain one metre individually bagged chip samples from pre-collars and RC test drill holes. •Each RC bag was spear sampled to provide a 4-metre representative composite sample for analyses. •A 1m sample split for each metre is collected at the time of drilling from the drill rig mounted cone splitter. •Selected 1m split sample intervals were selected from zones of interest and sent to the laboratory for analysis with remainder of drill hole assayed using 4m composite samples. •QAQC standards (blank & reference) and duplicate samples were included routinely with 1 per 20 samples being a standard or duplicate. •Samples were sent to an independent commercial assay laboratory. •All assay sample preparation comprised oven drying, pulverising and splitting to a representative assay charge pulp. •A 50g Lead Collection Fire Assay with ICP-MS finish is used to determine Au, Pt and Pd results. •A four acid digest is used for sample digest with a 48 element analysis suite including Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr by ICP-OES finish. •QAQC standards (blank & reference) and duplicate samples were included routinely with 1 per 20 samples being a standard or duplicate. •Samples have been sent to an independent commercial assay laboratory
Drilling techniques	• Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details(eg core diameter, triple	•RC drilling was undertaken by Top Drill using a 5.5“ face sampling drill bit. •All RC holes were surveyed during

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Criteria
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Criteria	JORC Code explanation	Commentary
	or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).	drilling using a GyroMaster north seeking gyro tool
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	•RC sample recoveries are visually estimated for each metre with poor or wet samples recorded in drill and sample log sheets. •The sample cyclone was routinely cleaned at the end of each 6m rod and when deemed necessary. •No relationship has been determined between sample recoveries and grade and there is insufficient data to determine if there is a sample bias.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	•Geological logging of RC drill holes was done on a visual basis with logging including lithology, grainsize, mineralogy, texture, deformation, mineralisation, alteration, veining, colour and weathering. •Logging of RC drill chips is qualitative and based on the presentation of representative drill chips retained for all 1m sample intervals in the chip trays. •All RC drill holes were logged in their entirety
Sub- sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	•All RC assays reported are from 1m cone split samples. •1m cone split samples were collected for all metres at the time of drilling from the drill rig mounted cone splitter. •Selected 1m cone split samples for intervals deemed of interest by the geologist supervising the drill rig were submitted for priority assay. •The samples are dried and pulverised before analysis. •QAQC reference samples and duplicates are routinely submitted with each batch. •The sample size is considered appropriate for the mineralisation style, application and analytical techniques used. •QAQC standards (blank & reference) and duplicate samples were included routinely with 1 per 20 samples being a standard or duplicate. •Samples have been sent to Intertek- Genalysis, an independent commercial assay laboratory where the samples areweighed to thenearest gram.

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Criteria
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Criteria	JORC Code explanation	Commentary
		•The samples are dried, crushed to nominal 2mm and pulverised to nominal 85% passing 75um before analyses. •QAQC reference samples and duplicates are routinely inserted for submission with each batch.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	•RC Chip and diamond core samples are analysed for a multielement suite (48 elements) by ICP-OES following a four-acid digest. Assays for Au, Pt, Pd are completed by 50gram Fire Assay with an ICP-MS finish. The assay methods used are considered appropriate. •QAQC standards and duplicates are routinely included at a rate of 1 per 20 samples •Further internal laboratory QAQC procedures included internal batch standards and blanks •Sample preparation was completed at Intertek Genalysis Laboratory, (Kalgoorlie) with digest and assay conducted by Intertek-Genalysis Laboratory Services (Perth) using a four acid (4A/MS48) for multi-element assay and 50gram Fire Assay with an ICP-MS finish for Au, Pt, Pd, (FA50/MS). •A Niton portable handheld XRF (pXRF) has been used only to assist field logging and as a guide for sample selection. No pXRF values are reported.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	•Field data is collected on site using a standard set of logging templates entered directly into a laptop computer. Data is then sent to the Galileo database manager for validation and upload into the database. •Assays are as reported from the laboratory and stored in the Company database and have not been adjusted in any way.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	•Drill hole collars are surveyed with a handheld GPS with an accuracy of +/- 5m which is considered sufficient for drill hole location accuracy. •Co-ordinates are in GDA94 datum, Zone 51. •Downhole depths are in metres measured downhole from the collar locationonsurface.

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Criteria
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Criteria	JORC Code explanation	Commentary
		•Topographic control has an accuracy of 2m based on detailed satellite imagery derived DTM or on laser altimeter data collected from aeromagnetic surveys
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	•Drill hole spacing was designed to target potential mineralisation as indicated by previous drilling and geological interpretation. •This spacing has been deemed adequate for first pass assessment only and is not considered sufficient to determine JORC Compliant Inferred Resources and therefore laboratory assay results and additional drilling would be required. •RC drill holes were sampled from surface on a 4m composite basis or as 1m, 2m, or 3m samples as determined by the end of hole depth or under instruction from the geologist supervising the program. •1m cone split RC samples were collected through zones of geological interest.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	•It is unknown whether the orientation of sampling achieves unbiased sampling as interpretation of quantitative measurements of mineralised zones/structures has not yet been completed. •The drilling is oriented either perpendicular to the lithological strike and dip of the target rock or as holes adjacent to previous aircore drilling.
Sample security	• The measures taken to ensure sample security.	•Each sample was put into a tied off calico bag and then several placed in large plastic “polyweave” bags which were zip tied closed. •Samples were delivered directly to the laboratory in Kalgoorlie by Galileo staff.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	•Continuous improvement internal reviews of sampling techniques and procedures are ongoing. No external auditshave beenperformed.

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Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

(Criteria listed in	the preceding section also apply to this section.)
Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	•The Norseman Project comprises two exploration licenses, eighteen granted prospecting licenses and two mining leases covering 255km2 •All tenements within the Norseman Project are 100% owned by Galileo Mining Ltd. •A 1% Net Smelter Royalty is payable to Australian Gold Resources Pty Ltd on mine production from within the Norseman Project (NSR does not apply to production from any laterite operations) •The Norseman Project is centred around a location approximately 10km north-west of Norseman on vacant crown land. •All tenements in the Norseman Project are 100% covered by the Ngadju Native Title Determined Claim. •The tenements are in good standing and there are no known impediments.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	Between the mid-1960’s and 2000 exploration was conducted in the area for gold and base-metals (most notably Ni sulphides). Exploration focussed on the Mt Thirsty Sill and eastern limb of the Mission Sill. Central Norseman Gold Corporation/WMC (1966-1972) •Explored the Jimberlana Dyke for Ni-Cu- PGE-Cr. Soil sampling generated several Cu anomalies 160-320ppm Cu. Barrier Exploration and Jimberlana Minerals Between (1968 and 1974) • Explored immediately south of Mt Thirsty for Ni-Cu sulphide. IP, Ground Magnetic Surveys, Soil Sampling, Soil Auger Sampling and Diamond Drilling was completed. Resolute Limited, Great Southern Mines Ltd and Dundas Mining Pty Ltd (1993-1996) •Gold focussed exploration. Several gold anomalies were identified in soil geochemistry but were not followed up. Resolute assayed for Au, Ni, Cu, Zn but did not assay for PGE. •ResoluteLimited drilledlateriteregolith

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Criteria
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	Commentary
	profiles over the ultramafic portions of
	the Mt Thirsty Sill and identified a small
	Ni-Co Resource with high Co grades.
Kinross Gold Corp Australia (1999)
•	Completed a 50m line spaced
	aeromagnetic survey.
2000-2004
•	Australian Gold Resources (“AGR”) held
	“Mt Thirsty Project” from 2000 to 30th
	June 2004. Works identified Ni-Co
	resources on the Project.
•	Anaconda Nickel Ltd (“ANL”) explored
	AGR Mt Thirsty Project as part of the
	AGR/ANL Exploration Access
	Agreement 2000-2001.
AGR/ANL (2000-2001)
•	Mapping focussed on identifying Co-Ni
	enriched regolith areas.
•	RC on 800mx100m grid at Mission Sill
	targeting Ni-Co Laterite (MTRC001-
	MTRC035). Nickel assay maximum of
	0.50%, Co 0.16%, Cu to 0.23%.
•	Concluded the anomalous Cu-PGE
	association suggested affinity with
	Bushveldt or Stillwater style PGE
	mineralisation. A lack of an arsenic
	correlation cited as support for
	magmatic rather than hydrothermal
	PGE source.
AGR (2003-2004)
•	Soil sampling over the Mission Sill and
	Jimberlana Dyke.
•	RC drilling (MTRC036-052) confirmed
	shallow PGE anomalism with best
	results of 1m at 2.04 combined Pt-Pd in
	MTRC038 from surface.
•	Petrography identified sulphide textures
	indicative of primary magmatic
	character.
•	Sixty samples were re-assayed for PGE
	when assays returned >0.05% Cu. A
	further 230 samples were re-assayed
	based on the initial Au-Pd-Pt results.
	The best combined result for Au-Pd-Pt
	was 5.7g/t.
Galileo
•	Galileo commenced exploration on the
	Norseman Project from 30th June 2004
	after sale of the tenements by AGR.

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Criteria	JORC Code explanation	Commentary
Geology	• Deposit type, geological setting and style of mineralisation.	•The Norseman target geology and mineralisation style is PGE-nickel- copper mineralisation related to layered intrusions (sills and dykes) and komatiite nickel sulphide mineralisation occurring within the GSWA mapped Mount Kirk Formation (and intrusions into this formation) •The Mount Kirk formation is described as “Acid and basic volcanic rocks and sedimentary rocks, intruded by basic and ultrabasic rocks”
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	•Refer to Appendices 1and 2.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	• Tables of relevant assay intervals of significance are included in previous releases. • Parts-per-billion and parts-per-million data reported from the assay laboratory have been converted to grams-per-tonne for Au, Pd, Pt. • Parts-per-million data reported from the assay laboratory for Cu and Ni have been converted to percent values and reported as percent values rounded to 2 decimal places. 3E intercepts have been calculated as the sum of Au, Pd and Pt assays in grams-per-tonne.
Relationship between mineralisatio n widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	•The drilling is oriented perpendicular to the lithological strike and dip of the target rock unit •It is unknown whether the orientation of sampling achieves unbiased sampling of possible structures as no measurable structures are recorded in drill chips. •No quantitative measurements of

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Criteria	JORC Code explanation	Commentary
		mineralised zones/structures exist, and all drill intercepts are reported as down hole length in metres, true width unknown.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	•Project location map and plan map of the drill hole locations with respect to each other and with respect to other available data are included in the text. •Drill hole locations have been determined with hand-held GPS drill hole collar location (Garmin GPS 78s) +/-5m in X/Y/Z dimensions
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	•All available relevant information is presented.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	•Detailed 50m line spaced aeromagnetic data has been used for interpretation of underlying geology. Data was collected by Magspec Airborne Surveys Pty Ltd using a Geometrics G-823 caesium vapor magnetometer at an average flying height of 30m. •28 lines (for 657 stations) of 200m or 400m line x 100m station spaced Moving Loop Electromagnetic survey data was collected over the prospect using a 200m loop. Data was collected using a Smartem receiver and Fluxgate receiver coil at base frequencies of 1.0Hz to 0.25Hz and 28-30 Amp current. Two conductor plates were modelled. Based on the available drill logs these conductors appear to represent the position of sulphide rich sediment beneath the target mafic- ultramafic intrusion. •Consultants from Omni GeoX delineated the layered units within the sill using geochemical relationships identified by K-means cluster analysis and manual geochemical interpretive workflows. • Pole-Dipole Induced Polarisation (IP) survey data was collected using a pole- dipole array with a SMARTem 16 channel 24-bit receiver system (EMIT). A Search-Ex WB50 50KVA transmitter was utilised with a 100m receiver spacing. • Dipole-Dipole Induced Polarisation (IP) survey data was collected using a dipole-dipole arraywitha SMARTem

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Criteria	JORC Code explanation	Commentary
		16 channel 24-bit receiver system (EMIT). A Search-Ex WB50 50KVA transmitter was utilised with a 50m receiver spacing. •Modelling and interpretation of IP survey geophysical data was undertaken by Terra Resources •Mapping of the Norseman Project Area prospective for PGE-nickel was undertaken at a 1:10,000 scale by Model Earth Pty Ltd •Consultants from Omni GeoX undertook geochemical analyses of available surface and drill hole samples from the Mission Sill prospect. Ni-Cr ratios were plotted and sued to define the western contact of the Mission Sill intrusive complex.
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	•RC drill testing •Air core drill testing •Additional Dp-Dp IP surveying

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