GALILEO MINING LTD — Investor Presentation 2019

May 6, 2019

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7 May 2019 ASX: GAL

RIU SYDNEY RESOURCES ROUND-UP PRESENTATION

Corporate Directory

Directors

Non-Executive Chairman Simon Jenkins

Managing Director Brad Underwood

Technical Director Noel O’Brien

Fast Facts

Fast Facts
Issued Shares	120.4m
Share Price	$0.120
Market Cap Cash (31/3/19)	$14.5m $8.0m

Galileo Mining Ltd (ASX: GAL, “Galileo” or the “Company”) is pleased to advise of its participation in the RIU Sydney Resources Round-Up Conference where Managing Director Brad Underwood will be presenting.

Mr Underwood will be providing delegates with an overview of the Company and the current drilling campaign on its highly prospective Fraser Range tenements.

A copy of the presentation is provided in this announcement or alternatively on the company’s website: http://www.galileomining.com.au/

Projects

Norseman Cobalt Project Fraser Range Nickel Project

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

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Media:

David Tasker Managing Director Chapter One Advisors

E: dtasker@chapteroneadvisors.com.au T: +61 433 112 936

Contact Details

T: +61 8 9463 0063 E: info@galmining.com.au W: www.galileomining.com.au

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RIU SYDNEY RESOURCES ROUND-UP CONFERENCE PRESENTATION – MAY 2019

(ASX:GAL)

DISCLAIMER

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This Presentation (“Presentation” or the “Document”) has been prepared by Galileo Mining Ltd (ACN 104 114 132) (“Company”) and is general background information about the Company and its wholly owned subsidiaries activities as at the date of this Presentation. This Document is prepared for the benefit and internal use of the recipient (the “Recipient”). It is provided on a confidential basis and the Recipient cannot reproduce in whole or in part any information provided in this Presentation or communicate the information of this Presentation to any third party without the prior written consent of the Company. This Document has been prepared on the basis of publicly available information and certain confidential information. The Company has relied upon and assumed, without independent verification, the accuracy and completeness of all such information, including forecasts. It contains selected information and does not purport to be all inclusive or to contain all of the information that may be relevant to the Document. The Company, its affiliates, officers, directors, employees and agents do not accept responsibility or liability for this Presentation or its contents (except to the extent that such liability cannot be excluded by law). No representation or warranty is made as to the Presentation’s accuracy or completeness and the Company assumes no obligation to update the Presentation’s information contained herein. Any requests for information in connection with this Document should be addressed directly to the Company and to no other party.

This Presentation may contain forward-looking statements that involve risks, uncertainties and other factors concerning, among other things, the Company’s expected financial performance and strategic operational plans. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company. The Company’s actual results could differ materially from the results expressed or implied by such forward-looking statements, and reported results should not be considered as an indication of future performance. It is not possible to accurately predict the future revenues or profitability of the Company or whether any revenues or profitability will eventuate. The business of the Company is dependent upon a number of factors and many of these factors are outside the control of the Company. This Document is not a prospectus under Australian law.

This Document is provided to you on the basis that you are a sophisticated, professional or other investor who would not require a disclosure document because of section 708 of the Corporations Act 2001 (Cth). As it is not regulated by the Corporations Act, this Presentation does not purport to contain all of the information that would be contained in a prospectus or that recipients may require in order to evaluate whether to invest in the Company. Any recipient of this Presentation is responsible for conducting their own due diligence and other enquiries as well as making their own analysis and their own independent assessment of the information provided herein. You may wish to consult your broker, solicitor, banker, accountant or other professional advisor about its contents. Any decision to rely on the information contained in this Presentation is the sole responsibility of the recipient of this Document and the Company will not be responsible for any loss incurred by the Recipient as a result of any actions taken by them. The Company represents a speculative business and involves a high degree of risk.

Nothing in this Presentation constitutes the provision of financial or legal advice. The Recipient should consider its own financial situation, objectives and needs, and conduct its own independent investigation and assessment of the contents of this Document, including obtaining investment, legal, tax, accounting and such other advice as it considers necessary or appropriate. Further, nothing in this Presentation constitutes an offer for the sale of securities. This Presentation does not constitute an offer or invitation in any place in which, or to any person to whom, it would not be lawful to make such an offer or invitation. The distribution of this Presentation (including in electronic form) outside Australia may be restricted by law and persons who come into possession of this Presentation outside Australia should seek advice on and observe any such restrictions. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.

The information contained in this Presentation is prepared as of 6th May 2019. Neither the delivery of this Presentation nor any offer, issue or sale contemplated by this Presentation at any time implies that the information contained in it is correct, that any other information supplied in connection with an offer of shares is correct or that there has not been any change (adverse or otherwise) in the financial conditions or affairs of the Company at any time subsequent to the preparation date. In particular, the Company is not under any obligation to any person to update this Presentation at any time including after an issue of shares.

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A SIGNIFICANT INVESTMENT OPPORTUNITY

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• $8.0 million in cash - fully funded exploration programs for the next two years

• Successful mining entrepreneur Mark Creasy is the founder and major shareholder with 31% holding

• Nickel and cobalt assets in Tier-1 mining jurisdiction

• Currently drilling highly prospective Fraser Range nickel targets

• Norseman Cobalt Project with 25Mt resource base

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PROJECT PORTFOLIO

 Western Australia focus

• Stable jurisdiction

• Battery metal mines driven by Electric Vehicle demand

 **Fraser Range JV Project ***

• Developing nickel province with two significant deposits so far

• with track record of in

• Management proven discovery the Fraser Range**

• Outstanding targets at the Empire Rose, Lantern and Yardilla South prospects

• Diamond core drilling campaign targeting nickel and gold underway this week

 Norseman Cobalt Project

• 25Mt JORC resources

• 26,600t Cobalt & 122,500t Nickel

• Ongoing metallurgical test work

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• 67% Galileo Mining/33% Creasy Group JV

** Galileo’s exploration team helped discover the Silver Knight deposit when they were part of Creasy Group

EXPLORATION VALUE CREATION

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SIRIUS RESOURCES* – DISCOVERY TIMELINE

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Ni-Cu-Co Geophysical results RC drilling Major Ni-Cu discovery anomalies show a strong EM at ‘The Eye” announced with significant identified in conductor returns first assay result of 4m @ first drilling at associated with Cupositive 3.8% Ni & 1.4% Cu from ‘The Eye’ Ni anomalies results 191m (SFRC 024)

Oct 2011

Apr 2012

May 2012

Jul 2012

From first drilling to the declaration of a major discovery in 9 months

*Acquired by IGO in 2015 Source: ASX Releases

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GALILEO MINING – EXPLORATION TIMELINE

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Follow up First aircore drilling Geophysics results show geophysical delivers anomalous a strong EM conductor survey shows a assays of 0.2% Ni associated with mafic Diamond drill strong IP Empire Rose over a 36m rocks (host rocks to the testing of EM chargeable intersection in ERAC Nova ore body) conductor anomaly linked 015. to the EM Target commences Aug 2018 Oct 2018 Jan 2019 Mar 2019 May 2019 Initial aircore drilling EM and gravity reveals anomalous Ni-Cu Lantern Prospect surveys identified from results and identification scheduled to Lantern regional of prospective mafic begin rocks over a 7km horizon. magnetic and Best result 27m @ 0.18% gravity data Ni & 0.17% Cu from 47m (LAAC 041)

EM and gravity surveys scheduled to begin

Source: ASX Releases

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FRASER RANGE PROJECT

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Fraser Range: Fast developing nickel and copper province

• Two significant nickel discoveries in past seven years (Nova & Silver Knight)

• Independence Group: Nova nickel-copper-cobalt mine

14.4 Mt @ 2.3% Nickel, 0.9% Copper and 0.08 % Cobalt[(1)]

• Empire Rose and Yardilla South prospects: 30km from the Nova mine site

• Lantern & Nightmarch prospects: 60km from the Silver Knight deposit

• No previous nickel drilling on Galileo tenements provides a first mover advantage

(1) See IGO ASX Announcement dated 3[rd] November 2015

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EMPIRE ROSE & YARDILLA SOUTH

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• Best intercept from maiden drilling completed in October 2018 was 36m @ 0.2% Nickel from 18m (drill hole ERAC015)[(1)]

• Electro-magnetic (EM) survey delineated a strongly conductive target with a modelled depth of 250 metres below surface[(1)]

• Induced Polarisation (IP) survey demonstrated a highly chargeable response, coincident with the results of the EM survey

• completed in 2018[(1)]

• Yardilla South identified from historic drilling targeting a gold prospect[(2)]

• Empire Rose and Yardilla South are 30km from IGO’s Nova nickel mine (see slide 8 for location)

(1) See GAL ASX Announcements dated 30[th] October 2018 and 21[st] January 2019 for details (2) See GAL ASX Announcement dated 29[th] April 2019 for details

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EMPIRE ROSE DRILL TARGET

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Drill Target Section

• Drilling program has commenced at the Empire Rose with drill holes designed to intersect the conductive and chargeable target 250m below surface

• Geophysical signature consistent with that expected from sulphide source

• Possibly related to magmatic or VMS style of sulphide mineralisation

• RC pre-collars have been drilled ready for diamond drill core tails through the target zone

• Diamond drilling program underway this week

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YARDILLA SOUTH DRILL TARGET

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Drill Target Section

• Historic data review shows a high quality

• untested gold target 150m below surface

• Old drill holes contained anomalous above a

• geochemistry geophysical chargeable target

• a

• Geology suggests potential gold system hosted in Banded Iron Formation

• Geophysical signature consistent with that expected from sulphide source

• RC pre-collars have been drilled ready for diamond drill core tails through the target zone

• Diamond drilling program underway this week

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LANTERN PROSPECT

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Interpreted intrusion with similar size to Nova host rock

• Magnetic signature indicates layered intrusion with potential for mineralisation

• Excellent structural location for the intrusion of prospective rocks

• First pass aircore drilling confirms the right host rocks for magmatic sulphide deposits

• Best aircore results were 27m @ 0.18% Ni and 0.17% Copper from 47m (LAAC041)[(1)]

• Follow up electro-magnetic and gravity geophysical surveys starting in May

• (1) See GAL ASX Announcements dated 26[th] March 2019 for details

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NORSEMAN PROJECT

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Substantial cobalt-nickel resource

• 25.1Mt @ 0.11% cobalt and 0.49% nickel[(1)]

• 26,600 Tonnes of contained cobalt and 122,500 Tonnes of contained nickel

• World class infrastructure adjacent to the town of Norseman

• “BMW to buy cobalt direct from Australia”[(2)]

• Provides leverage to increasing cobalt demand

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• Recently completed airborne magnetic survey highlights additional prospectivity

• Ongoing metallurgical test work on the cobalt resources and prospect development for other commodities

• (1) See slide 19 for details

• (2) Source: Reuters April 23, 2019

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VALUE DRIVERS

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2019 QUARTER 1 2019 QUARTER 2 2019 2nd HALF
FRASER RANGE PROJECT
Empire Rose
Geophysics surveys
Target definition
Diamond drilling
Yardilla South
Historic data review
Diamond drilling
Lantern
Aircore driling Discovery
Focussed
Geophysics surveys
Target definition
Drill testing
NORSEMAN PROJECT
Cobalt Project
Flow sheet design
Metallurigcal testwork
Norseman Exploration
Detailed magnetic surveys
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Prospect development (Co, Ni, Li)
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A SIGNIFICANT INVESTMENT OPPORTUNITY

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• $8.0 million in cash - fully funded exploration programs for the next two years

• Nickel and cobalt assets in Tier-1 mining jurisdiction

• to nickel and cobalt in a

• Strongly leveraged period of increasing demand from battery technology and electric vehicles

• Fraser Range exploration with highly prospective targets

• Galileo management with a track record of discovery in the Fraser Range

• Drilling is underway on high priority Fraser Range nickel and gold targets

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APPENDIX - CORPORATE SNAPSHOT

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Key Metrics
ASX Code	GAL
Shares on Issue	120.4m
Share price (as at 6 May 2019)	12.0c
Market Cap (undiluted)	$14.5m
Cash (31/03/19)	$8.0m
Enterprise Value	$6.5m
Options on Issue	15m @ $0.20 (vesting condition: 60 day VWAP > $0.60)
Debt	No debt

Shareholder Composition

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Share Price (six months)

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Resource Summary (full details on slide 19)

Norseman Cobalt Project (0.06% cut-off) 25.1Mt @ 0.11% Co & 0.49% Ni Contained Cobalt (0.06% cut-off) 26,600 tonnes Contained Nickel (0.06% cut-off) 122,500 tonnes

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APPENDIX – GALILEO BOARD

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• Simon Jenkins  Mr Jenkins has been a director of corporate law firm Price Sierakowski Corporate since 2005 and has experience in a broad range of corporate transactions including takeovers, mergers and capital raisings both in Australia and overseas.

• Chairman  He has extensive experience in a range of industries including the resource, energy and telecommunications sectors. He has acted for Australian and internationally listed companies as well as for a number of large private enterprises.

• Mr Jenkins has a Bachelor of Laws from the University of Western Australia and is a recommended Mergers and Acquisitions Lawyer by Doyle's Guide

• Brad Underwood  Mr Underwood is a geologist with over 15 years’ experience in exploration, prospecting and mining. He has been involved in copper, gold, nickel and cobalt discoveries and the development of numerous prospects over a variety of

• Managing Director commodities.

• Between 2010 and 2018 Mr Underwood worked for prospector and mining entrepreneur Mark Creasy as General Manager of several private exploration companies. During this time Mr Underwood’s responsibilities included the exploration of the Fraser Range tenements surrounding the Nova mine site as well as the development of Galileo’s projects near Norseman.

• Mr Underwood played a key role in the discovery of the Silver Knight nickel-copper deposit in the Fraser Range and the discovery of Galileo’s Mission Sill cobalt resources.

• Mr Underwood has a Bachelor of Science in Geology and a Post Graduate Diploma in Geology from the University of Auckland, and a Master of Science (Distinction) in Mineral Economics from Curtin University.

• Noel O’Brien  Mr O’Brien is a metallurgist and processing expert who is currently Chief Technical Officer at Tawana Resources Limited (ASX:TAW) and a Non-Executive Director at Birimian Ltd (ASX:BGS).

• Technical Director 

• He was formerly Managing Director in South Africa for SNC-Lavalin Inc, a leading global engineering and construction group, and was responsible for delivering base metal smelters and refinery projects across Africa.

• Mr O’Brien has a deep understanding of metallurgy and possesses processing expertise in smelting, gravity separation, flotation, leaching and solvent extraction.

• Mr O’Brien holds a Metallurgical Engineering degree from the University of Melbourne, an MBA from Witwatersrand University and is a Fellow of the AusIMM.

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APPENDIX - NICKEL AND COBALT

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Global Nickel Use 2010 – 2018 (nickel kilo-tonnes)

Global Cobalt Use 2010 – 2017 (cobalt tonnes)

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2,500 120,000
100,000
2,000
80,000
1,500
60,000
1,000
40,000
500
20,000
0 0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2010 2011 2012 2013 2014 2015 2016 2017
Stainless steel Alloy steels and castings Non-ferrous alloys Plating Batteries Other Batteries Nickel-base alloys Tool materials Pigments Catalysts & Magnets Other
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Source: Roskill

Source: Roskill

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APPENDIX – JORC RESOURCES

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JORC 2012 RESOURCES

Cut-off Cobalt %	Class	Tonnes Mt		Co		Ni
			%	Tonnes	%	Tonnes
MT THIRSTY SILL
0.06 %	Indicated Inferred Total	10.5 2.0 12.5	0.12 0.11 0.11	12,100 2,200 14,300	0.58 0.51 0.57	60,800 10,200 71,100
MISSION SILL
0.06 %	Inferred	7.7	0.11	8,200	0.45	35,000
GOBLIN
0.06 %	Inferred	4.9	0.08	4,100	0.36	16,400
TOTAL JORC COMPLIANT RESOURCES
0.06 %	Total	25.1	0.11	26,600	0.49	122,500

Mineral Resource Estimates for the Norseman Cobalt Project (“Estimates”) (refer to ASX “Prospectus” announcement dated May 25[th] 2018 and ASX announcement dated 11[th] December 2018, accessible at http://www.galileomining.com.au/investors/asxannouncements/). Galileo confirms that all material assumptions and technical parameters underpinning the Estimates continue to apply and have not materially changed).

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THANK YOU

P: +61 8 9463 0063

E: info@galileomining.com.au

W: http://www.galileomining.com.au/

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