GALILEO MINING LTD — Capital/Financing Update 2025

Nov 11, 2025

ASX Announcement

12 November 2025

ASX: GAL

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Large Scale Gravity Survey Underway at Norseman Project

Highlights

• Detailed ground gravity survey at Norseman has commenced

• Geophysical survey is designed to increase understanding of geological structures associated with palladium-gold-platinum mineralisation

• Field work is expected to be completed in November with results in December/January

• Upcoming drill program scheduled to commence in late November to follow up high grade gold-palladium results including[1] ;

• 7m @ 3.87 g/t 3E[2] from 28m (NAC759)

• includes peak gold assay of 1m @ 13.74 g/t Au with 3.21 g/t Pd and 0.2 g/t Pt (from 28m, NAC759)

• 1m @ 3.35 g/t 3E from end of hole with 0.94 g/t gold and 2.21 g/t Pd (from 72m, NAC756)

• 1m @ 1.62 g/t 3E with 1.26 g/t gold and 0.28 g/t Pd (from 17m, NAC801)

• Over 250 km[2] project area with 20km of prospective strike around the 17.5Mt[3] Callisto deposit and 12km of strike at the parallel Mission Sill prospect

• Excellent potential for new high-grade discoveries in underexplored region

Galileo Mining Ltd (ASX: GAL, “ Galileo ” or the “ Company ”) is pleased to announce geophysical gravity surveying has commenced at the Company’s 100% owned Norseman project in Western Australia.

1 See ASX announcement dated 30th October 2025 for details

2 3E = Pd + Pt + Au expressed in g/t

3 See Table 2 and ASX Announcement dated 2 October 2023 for JORC resource

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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 6285 5622 Email: info@galileomining.com.au Website: galileomining.com.au

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Galileo Managing Director Brad Underwood commented ; “Gravity surveying is now underway at our Norseman Project as we seek to unlock the undiscovered mineral potential of our significant project area. Our discovery of the 17.5 Mt Callisto PGE-nickel-copper deposit in 2022 highlighted the previously unrecognised potential of this new mineral province and we aim to make further discoveries by collecting high quality geophysical and geological data sets to improve our understanding of the key controls on mineralisation.

At the same time, we are preparing to undertake follow up RC drilling at our Mission Sill prospect where our most recent results returned high grade gold assays up to 13 g/t accompanied by robust palladium and platinum grades. RC drilling is scheduled to commence in late November with a program designed to test multiple targets.

We look forward to our ongoing work programs at Norseman and are excited to be exploring a mineral province with such strong potential to deliver additional discoveries.”

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Figure 1: Norseman Project outline (blue line) with gravity survey (black dashed line), Callisto Deposit (red star) and prospects requiring follow up drilling (grey stars).

The Callisto prospective trend extends over 20km and the Mission Sill trend has over 12km of prospective strike (see also Figure 3).

The Callisto Deposit was discovered in 2022 and has a 17.5Mt sulphide resource with palladium-platinumgold-rhodium-nickel-copper mineralisation.

Upcoming drilling is targeting gold-palladiumplatinum results from aircore adrilling at the Mission Sill South prospect.

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Approximately 3,000 gravity stations will be surveyed on a 400m by 100m spacing across the prospective areas of mafic-ultramafic sill complexes within the Norseman Project area. Sulphide mineralisation at the Callisto deposit occurs as a basal unit of an ultramafic sill and its occurrence may be localised by controlling cross-structures. The overall sill complex extends over 20km of strike around the Callisto resource and the presence of high grade Pd-Pt-Au-Ni-Cu may reflect late-stage structures along which magma has intruded. Gravity surveying is designed to cover the prospective zones at a project scale to assist in understanding the structures which have formed both the mafic-ultramafic host sill complex and the mineralisation itself. Acquisition of field data is due for completion in November with final data delivery and interpretation of results to occur in December/January.

Figure 2 – September/October 2025 anomalous aircore drill results from the Mission Sill prospect. See ASX announcement dated 30[th] October 2025 for details.

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Section 4: NAC801
15m @ 0.42 g/t 3E PGE
(aqua regia); 1m @ 1.26 g/t
gold from 17m (fire assay)
7m @ 3.87 g/t 3E PGE from
28m including 1m @ 13.7 g/t
gold from 30m (fire assay)
Section 3: NAC759
Section 2: NAC756
1m @ 3.35 g/t 3E PGE from
72m (end of hole – fire assay)
4m @ 1.11 g/t 3E PGE
from 52m (fire assay)
Section 1: NAC694
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An RC drill program is scheduled to commence in late November to target selected sections along the 10km Mission Sill Eastern Contact (see Figures 2 and 3). Initial RC drilling will consist of short overlapping RC drillholes to focus on the high-grade gold-PGE results and to determine the location of the ultramafic/mafic contact in fresh bedrock. Current targeting suggests that basement mineralisation of economic significance may be located at or close to this rock boundary. PGE deposits around the globe are known to occur close to a similar mafic/ultramafic rock contact and the presence of highgrade results in Galileo’s recent drill samples indicates the possibility of high-grade gold-PGE seams and veins at the Mission Sill prospect.

Figure 3 – Drilling at the Mission Sill prospect showing over 10km of anomalous PGE results along the Eastern Contact Zone target. See ASX announcement 30[th] October 2025 for details.

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Jimberlana South
Prospect
Mission Sill South
Prospect
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Figure 4 – Callisto deposit and prospective geological trends at Galileo’s Norseman project.

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Figure 5 – 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 2 - 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.

The information in this report that relates to Galileo’s Mineral Resource for the Callisto Deposit is from a previous report released to the ASX by Galileo Mining (2[nd] October 2023) based on information complied by Paul Hetherington, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Hetherington 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 Hetherington consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Mr Hetherington has advised that this consent remains in place for subsequent releases by Galileo of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent.

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 6285 5622 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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