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30 April 2020 ASX: GAL

INVESTOR WEBINAR PRESENTATION

Corporate Directory

Directors

Chairman & Managing Director Brad Underwood

Technical Director Noel O’Brien

Non-Executive Director Mathew Whyte

Projects

Fraser Range Project Nickel-Copper

Norseman Project Cobalt-Nickel-Copper

Galileo Mining Ltd (ASX: GAL, “Galileo” or the “Company”) is pleased to announce its participation in the ShareCafé Small Cap “Hidden Gems” Webinar to be held on Thursday 30th April 2020 from 2:30pm AEST / 12:30pm AWST.

Managing Director Brad Underwood will provide an update on the company’s significant exploration programs underway at its Fraser Range joint venture project in Western Australia.

This FREE webinar is able to be viewed live via Zoom over the internet and will provide viewers the opportunity to hear from, and engage with, a range of ASX listed micro/small cap "hidden gems".

To access further details of event and to register (for FREE), please copy and paste the following link into your internet browser:

https://zoom.us/webinar/register/WN_mZo1EsyhTRK50gU81YN7nw

A recorded copy of the webinar will be made available following the event. A copy of the investor presentation to be delivered during the webinar is attached.

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Authorised for release by the Galileo Board of Directors.

Investor information: phone Galileo Mining on + 61 8 9463 0063 or email [email protected]

Media:

David Tasker Managing Director Chapter One Advisors E: [email protected] T: +61 433 112 936

Contact Details

T: +61 8 9463 0063 E: [email protected] W: www.galileomining.com.au 13 Colin St, West Perth, WA

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Page 1 |

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STRATEGIC FOCUS ON NICKEL, COPPER & COBALT IN TIER-1 MINING JURISDICTION

INVESTOR PRESENTATION – APRIL 2020 (ASX:GAL)

Disclaimer

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 29[th] April 2020. 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.

Investment Opportunity

Strong cash position ~$9.5M (following $5M placement[1] )
Nova-style high value nickel targets in the Fraser Range belt
All assets in Tier-1 mining jurisdiction of Western Australia
Strategic focus on drilling programs to create value through discovery
Active nickel/copper/cobalt exploration at Norseman
Mining entrepreneur Mark Creasy is the founder and shareholder with a major
26% holding[2]

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1. Refer to ASX announcement dated 23rd April 2020

2. Following completion of placement

Corporate Snapshot

Key Metrics

ASX Code GAL Shares on Issue[1] 143.1m Share price (as at 29 April 2020) 25.5c Market Cap (undiluted) $36.5m Cash[1] $9.5m (follows $5m placement) Enterprise Value $27.0m Options on Issue 15m @ $0.20 (vesting condition: 60 day VWAP > $0.60) 2.3m @ $0.44 per share Debt No debt

Shareholder Composition

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Share Price (six months)

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Major Shareholders[1]

Mark Creasy 26.1% Independence Group Limited (ASX:IGO) 8.9%

1. Following completion of $5 million placement. Refer to ASX announcement dated 23rd April 2020

Project Portfolio

 Strategic Commodity & District Focus

Nickel and cobalt
Numerous operating mines in the district with access to worldclass infrastructure (road, rail, Port of Esperance)

 Fraser Range JV Project *

Developing nickel province with two significant deposits so far
with track record in the Fraser with
Management proven Range the Silver Knight discovery**
Outstanding targets at the Lantern prospect, along strike from Legend Mining’s Mawson Prospect
8,000 metre drilling program currently underway

 Norseman Project

High grade cobalt resource of 25Mt JORC with 26,600t of contained cobalt & 122,500t of contained nickel[(1)]
Ongoing nickel/copper/cobalt exploration

67% Galileo Mining/33% Creasy Group JV

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(1) See slide 19 for details

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

Fraser Range Nickel Belt

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Fraser Range: Fast developing mineral province

Two significant nickel-copper-cobalt discoveries in past eight years (Nova & Silver Knight)
IGO: Nova nickel-copper-cobalt mine
14.4 Mt @ 2.3% Nickel, 0.9% Copper and 0.08 % Cobalt[(1)]
Silver Knight deposit, initial publicly disclosed resource
4.2 Mt @ 0.8% Nickel, 0.6% Copper, 0.04% Cobalt[(2)]
Legend Mining: Mawson prospect, multiple zones of mineralisation including

12.8m @ 2.76% Nickel, 1.36% Copper, 0.14% Cobalt[(3)]

Galileo has 605km[2] of prospective ground in two zones;
Lantern nickel prospect: 15km from the Trans-Australia Railway
Empire Rose nickel and gold prospect: 10km from the Eyre Highway

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

(2) See DMIRS website

(3) See Legend Mining ASX Announcement dated 21[st] April 2020

Similar to Canadian Nickel Belts

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Canadian Nickel Belts analogous to the Fraser Range Belt

Three world class nickel mining centres
Each Canadian nickel hub is on the margin of the Archean aged Superior Province
The Fraser Range is on the margin of the Archean aged Yilgarn Province in a similar geological environment
Decades of exploration and mining history in the Canadian examples
First discovery of economic nickel in the Fraser Range was in 2012
Further work in the Fraser is to uncover Range likely
new deposits

Thompson vs Fraser Range

Thomson Fraser Range Nickel Belt Nickel Belt  More than 10  Two deposits with deposits over over 150km of 100km of strike prospective strike length length  Total known  Total known vs resources of resources of 18Mt 146Mt with less than  eight years of Over 50 years of mining mining and exploration  Immature nickel belt with untapped potential

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Active Exploration Zone

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Galileo, Creasy, IGO and Legend Mining

Lantern Prospect is 50km along strike from Legend Mining’s Mawson (Area D) Prospect
IGO aggressively exploring in the Fraser Range with a $24 million regional exploration budget and a $26 million Nova near-mine exploration budget[(1)]
Galileo tenements surrounded by Legend Mining and IGO tenure[(2)]
First ever RC drilling at the Lantern Prospect discovers disseminated nickel-copper sulphide mineralisation[(3)]
Follow and around the drill up drilling geophysics planned discovery
hole
Additional early stage magnetic and gravity targets with ongoing aircore drilling programs
(1) See IGO ASX Announcement dated 15[th] October 2019
(2) See Legend Mining ASX Announcement dated 14[th] October 2019 (3) See Galileo Mining ASX Announcement dated 17[th] March 2020

Lantern Prospect Targets

Intrusions with the same host rocks as the Nova and Silver Knight deposits

Multiple highly prospective drill targets
Drilling and petrography shows gabbro, gabbro-norite and peridotite rocks with potential to host nickel-copper[(1)]
Right rock types in right location
Detailed magnetic and gravity data sets highlight extensive intrusions
Similar geometry to Nova with 2km by 2.3km intrusion (compare with Nova 2.4km by 1.2km)[(1)]
First round of RC drilling discovers disseminated nickel-copper sulphide[(2)]
(1) See GAL ASX Announcements dated 15[th] April 2020 for details
(2) See GAL ASX Announcement dated 17[th] March 2020 for details

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Lantern Sulphide Discovery

Disseminated nickel-copper sulphide mineralisation[(1)]

LARC003 returns significant intersection of;
12m @ 0.38% Ni & 033% Cu from 124 metres down hole

Including 5m @ 0.49% Ni % 0.46% Cu from 126m

Mineralisation open in all directions
Maximum values over one metre of 0.66% nickel and 0.75% copper (127 -128m)
Potential for a large mineralized system with over two kilometres of untested strike length

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(1) See GAL ASX Announcement dated 17[th] March 2020 for details

Accelerating Lantern Exploration

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Priority drilling campaign underway

$5 million placement allows aggressive expansion of exploration work
8,000m aircore program (doubled from 4,000m) currently underway to follow up along strike of sulphide mineralisation
Diamond drill hole planned to test beneath LARC003
Fixed Loop EM survey at the Lantern North Prospect
Additional drilling and geophysics to build a pipeline of new drill targets
Untapped greenfields potential in a new nickel province

	Growth through Discovery	Growth through Discovery	Growth through Discovery	Growth through Discovery	Growth through Discovery	Growth through Discovery	Growth through Discovery	Growth through Discovery	Growth through Discovery	Growth through Discovery	Growth through Discovery
	Extensive Drilling Programs
	Exploration is our business – high levels of					in ground expenditure
	Ten drilling programs in under		2 years since listing
	Aircore, RC and diamond drilling planned over						coming		months
	Improved chances of discovery through targeted drilling campaigns
						2019											2020
	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep
	First Lantern Aircore Drilling
	Ground EM Survey
	Gravity Survey
 	EIS Drill Funding Approval POW Approvals															Drilling and Geophysical
 	Second Lantern Aircore Drilling Petrology Confirms Targeting															Survey of Key Fraser
	New Delta Blues Prospect															Range Nickel			Targets
	Magnetic Data Defines New Targets
	POW Approvals
	First RC Drillingat Lantern
	Third Lantern Aircore Drilling Program
	Geophysical Surveying (EM)
	RC & Diamond Drilling Programs

Empire Rose Prospect

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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 250 metres below surface[(1)]
Diamond drilling showed anomalous gold associated with sulphide mineralisation[(2)]
Empire Rose is 30km from IGO’s Nova nickel mine and just 10km from the Eyre Highway (location map on slide 11)
Over nine kilometres of prospective unexplored ground (magnetic image to left)
New EM surveys planned to target potential mineralisation along strike
(1) See GAL ASX Announcements dated 30[th] October 2018 and 21[st] January 2019 for details (2) See GAL ASX Announcement dated 4[th] July 2019 for details

Norseman Project

278 square kilometres of prospective ground at the southern end of the prolific Norseman-Wiluna greenstone belt
Tenements are prospective for komatiite hosted nickel sulphide, VMS copper-gold and nickel-cobalt laterite mineralisation
Current 25 Mt nickel-cobalt laterite resource[(1)]
Drill for Woodcutters and programs designed
Gremlin prospects
Premier project location:
10 km from the town of Norseman
Adjacent to sealed Coolgardie-Esperance highway
Access to gas, water and rail infrastructure
180km from the deep-water Port of Esperance

(1) See slide 18 for details

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A Significant Investment Opportunity

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$9.5 million in cash = well funded junior exploration company
Active explorer with experienced management and team focussed on making discoveries
to nickel and cobalt in a
Highly leveraged period of increasing demand
Fraser Range exploration with strong potential for new high value nickel deposits
Norseman exploration with a 25Mt nickel/cobalt resource and new nickel/copper/cobalt targets
Drilling programs underway with multiple programs planned for 2020

Appendix – Galileo Board

Brad Underwood Chairman & Managing Director

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Mr Underwood is a geologist with over 18 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 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 Technical Director

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Mr O’Brien is a metallurgist and processing expert with over 40 years’ experience in the design and construction of mineral processing plants. He has a deep understanding of metallurgy and possesses processing expertise in smelting, gravity separation, flotation, leaching and solvent extraction.
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 is currently a Technical Director of Metals Tech (ASX:MTC) and Non-Executive Director at Mali Lithium Limited (ASX:MLL).
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.

Mathew Whyte Non-Exec Director

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& Company Secretary
Mr Whyte is a CPA and a Chartered Secretary (FCIS) . He has over 25 years’ commercial experience in the financial management, direction and corporate governance of ASX listed companies.
Mr Whyte has held senior executive roles on a broad range of Australian listed entities with operations in Australia and overseas in the mining exploration, mining services, power infrastructure and technology development industries.
Mr Whyte has served as a Director and Company Secretary on multiple ASX listed company boards over the past 10 years.

ix – JORC	ix – JORC	Resources	Resources	Resources		Ni Tonnes 60,800 10,200 71,100 35,000 16,400 122,500
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

Appendix – JORC Resources

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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P: +61 8 9463 0063 E: [email protected] W: http://www.galileomining.com.au/