GALILEO MINING LTD — Investor Presentation 2021

Aug 31, 2021

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MINERAL EXPLORATION FOR A SUSTAINABLE FUTURE: NICKEL, COPPER, COBALT & PALLADIUM IN WESTERN AUSTRALIA Mines & Money Online Connect September 2021 ASX:GAL

Disclaimer

This Presentation (“ or the “ has been prepared by Galileo Mining Ltd (ACN 104 114 132 ))(“ 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 “ 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

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 31[st] August 2021. 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

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 (As it is not regulated by the Corporations Act, this Presentation does

High value nickel targets, palladium targets, and an existing cobalt/nickel resource

Investment Opportunity

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Campaign drilling programs throughout the year

All assets are in the Tier-1 mining jurisdiction of Western Australia

Strong cash position with~$5.4M[1]

Pre-discovery market valuation and highly leveraged to success

Well supported – successful mining investor Mark Creasy and major mining company IGO are the largest shareholders

(1) As at 30[th] June 2021

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Future Facing Metals

LME NICKEL (12 months)

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LME COBALT (12 months)
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LME COPPER (12 months)

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LBMA PALLADIUM (12 months)

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3.0
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• Increasing demand for sustainable metals

• 12-month price increase in nickel, copper, cobalt & palladium

• Forecast step change in demand for EV battery technology

• Limited new mine development for key commodities

• Exploration required now for the next generation of deposits

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Source: LME website

Corporate Snapshot

Share Price (twelve months)

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Source: ASX

JORC Resources (slide 23 for details) Cobalt 26,600 tonnes Nickel 122,500 tonnes

Key metrics

Key Metrics	Key Metrics
ASX Code	GAL
Shares on Issue	143.1m
Share price (@ 31st August 2021)	32c
Market Cap	$45.8m
Cash (at 30th June 2021)	$5.4m
Enterprise Value	$40.4m
Options on Issue	12.5m @ $0.20; 2.3m @ $0.44 per share
Debt	No debt

Major Shareholders	Major Shareholders
Mark Creasy	26.1%
IGO Ltd (ASX:IGO)	8.9%

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Hi hl Ex erienced Board g y p

• Over 18 years’ experience in exploration, prospecting and mining.

• 2010 – 2018 worked for Mark Creasy as General Manager of several private companies.

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

• Chairman & MD  Bachelor of Science in Geology and a Post Graduate Diploma in Geology from the University of Auckland, Master of Science (Distinction) in Mineral Economics from Curtin University.

• A metallurgist with wide international and corporate experience.  Served on the board of a number of ASX listed companies over the past 9 years.

• Noel O’Brien  Currently technical advisor to several listed companies.  Metallurgical Engineering degree from the University of Melbourne, an MBA from Witwatersrand

• Non-Executive Director University and a Fellow of the AusIMM.

• CPA and a Chartered Secretary (FGIA), with over 25 years’ experience. 

• Mathew Whyte Held senior executive roles on a broad range of Australian listed entities. Non-Exec Director &  Served as Director and Company Secretary on multiple ASX company boards over the past 10 years. Company Secretary

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Project Portfolio

• Strategic Commodity & District Focus • Numerous operating mines in the district with access to world-class infrastructure (road, rail, Kalgoorlie, Port of Esperance)

**Fraser Range JV Project ***

• Developing nickel province with two significant deposits so far at Nova and Silver Knight

• Management with extensive Fraser Range experience

• Most recent drill program at the Delta Blues Prospect shows sulphide hosted in prospective rock units

• Developing targets at the Easterly and Green Moon Prospects

Norseman Project **

• Focussed on palladium, nickel and cobalt exploration

• High grade cobalt laterite resource of 25Mt JORC with 26,600t of contained cobalt & 122,500t of contained nickel[(1)]

• Improving cobalt price now ~ US$50,000/tonne

• 67% Galileo Mining/33% Creasy Group JV ** 100% Galileo Mining (1) See slide 23 for details

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Fraser Range Project

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Thompson (Canada) vs Fraser Range (Australia)

Thomson Nickel Belt

 More than 10 deposits over 100km of strike length

 Total known resources of 146Mt

 Over 50 years of mining and exploration

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Fraser Range Nickel Belt  Two deposits with over 150km of prospective strike length  Total known resources of 18Mt with less than ten years of mining  Immature nickel belt with untapped potential

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Fraser Range Mineral Belt

Fraser Range: Developing Mineral Province

• Two nickel-copper-cobalt resources discovered since 2012 (Nova mine & Silver Knight deposit)

• IGO: Nova nickel-copper-cobalt mine, pre-mining resource of

• 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 massive sulphide mineralisation[(3)]

• Galileo has 602km[2] of prospective ground in two zones;

• Delta Blues, Easterly and Lantern prospects: 15km from the TransAustralia Railway (90km from Nova mine site)

• Empire Rose prospect: 10km from the Eyre Highway (30km from Nova)

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

• 2) Acquired by IGO – IGO ASX Announcement dated 27[th] July 2021. See DMIRS website for resource. 3) Legend Mining ASX Announcement dated 12[th] October 2020

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Exploration in the Fraser Range

Prospective Proterozoic beneath Eocene sediments

• Targeting magmatic intrusions with sulphide mineralisation

• High-grade granulite facies metamorphism

• Interpretation mostly from detailed aeromagnetic data

• Aircore drilling of intrusions used as a first pass test for area

• prospectivity; provides data on lithology, depth of cover, and Proterozoic regolith

• Followed by Moving Loop EM surveying to define conductors

• RC and diamond drilling of geochemical targets from aircore

drilling and conductive targets from geophysical surveying

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Drilling Activity – Lantern Prospect

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RC and diamond drilling campaigns

• First RC and diamond drilling programs at Galileo’s Fraser Range project intersect sulphides

• 23m @ 0.19% Ni & 0.14% Cu from 133m in disseminated nickel-copper sulphides from ultramafic host rock at Lantern South (LARC013D)[1]

• 41m @ 0.19% Ni & 0.14% Cu from 55m (LARC012)[[1]]

• 5m @ 0.49% Ni & 0.46% Cu from 124m including

• 1m @ 0.66% Ni & 0.75% Cu from 127m (LARC003)[[1]]

• Increased confidence in regional

prospectivity

(1) See GAL ASX Announcements dated 17[th] March 2020, 29[th] September 2020 and 28[th] October 2020 for details

Delta Blues Prospect

Multiple EM targets within zone of prospective intrusions

• Two highly significant EM conductors

• Shallow aircore drilling showed nickel prospective intrusive rock units[1]

• Weathered sulphides (0.5 – 1%) observed in petrographic samples of cumulate intrusions

• Prospective area with Legend Mining’s Crean Prospect 4 km along strike

• S2 Resources identified sulphides in drilling 300m from conductor DB2

• Conductors likely associated with sulphide minerals

Prospect	Conductivity	Length	Height	Depth to Top
DB1	10,000S to 25,000S	800m to 900m	25 to 40m	175m to 255m
DB2	1,500S to 5,000S	350m to 500m	250m to 500m	125m to 185m

1) See GAL ASX Announcements dated 3[rd] December 2019 and 12[th] April 2021

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Delta Blues Drilling – Sulphides Intersected

Drilling at DB2 intersects semi-massive sulphide mineralisation[1,2]

• 3 drill holes intercepted semi-massive sulphides over minimum 210m strike length

• Semi-massive sulphides intersected from 190 -192m (DBRC001), 167 - 170m (DBRC002) and 154 -157m (DBRC003) within larger zone of disseminated sulphide

• Sulphides dominantly pyrrhotite with minor chalcopyrite

• Assays pending from initial drilling with only very top of conductor drilled to date

• Scale of mineralised system is substantial with modelled dimensions up to 500m by 500m

• Deeper diamond drilling is required to assess economic potential of the prospect.

190-191m 191-192m 154-155m 155-156m 156-157m

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RC Drill Hole Plan Location at Delta Blues DB2 with EM Target over TMI Magnetic Image

RC Drill chips from DBRC001 with semi-massive sulphide from 190-192m, photo is 14cm across

Drill chips from DBRC003; semi-massive sulphide from 154-157m

1. Refer to ASX announcement dated 11 August 2021 2. Refer to ASX announcement dated 23 August 2021

Delta Blues Drilling – Prospective Rocks

Drilling at DB1 intersects highly prospective intrusive rocks[1,2]

• Initial RC drill testing has been completed at DB1 with drill hole DBRC004 touching only the very top of the EM model which was calculated to start between 175m and 255m below surface

• Nickel prospective rocks intersected with conductive source yet to be determined

• Deeper diamond drilling is required to determine the conductive source

• No graphite or sulphidic sediment (false positives) in DBRC004 drill chips

• Samples from all RC drilling have been submitted for analysis to the laboratory in Kalgoorlie with results expected mid to late September

FURTHER DRILLING PLANNED AT DB1 & DB2

• To assess economic significance of DB1 and DB2 post receipt of RC drill sample assays and additional EM surveying

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RC Drill Hole Plan Location at Delta Blues DB1 with EM Target over TMI Magnetic Image

1. Refer to ASX announcement dated 11 August 2021 2. Refer to ASX announcement dated 23 August 2021

Developing Prospects

Ongoing target generation work delivering results

• Shallow, large, and conductive target at the Easterly Prospect

• Along strike from Lantern South Prospect where previous drilling intersected nickel-copper sulphides[1]

• 41 metres @ 0.19% nickel & 0.14% copper (LARC012)

• 5 metres @ 0.49% nickel & 0.46% copper including  1 metre @ 0.66% nickel & 0.75% copper (LARC003)

• Modelled EM conductor is a large-scale target 750 metres long and only 165 metres below surface

Prospect	Conductivity	Length	Height	Depth to Top
Easterly	1,140 S	750m	134m	165m

• Infill EM surveying and advanced target modelling to be undertaken prior to drill testing

• Target generation EM surveying continuing in the Fraser Range

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New Nickel Target (Easterly Prospect) in the Fraser Range over TMI Magnetics 16 1. Refer to ASX announcement dated 30 August 2021

Norseman Project

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Norseman Project

Highly prospective ground next to town of Norseman

• 278km[2] of prospective ground at the southern end of the prolific Norseman-Wiluna greenstone belt

• Premier project location:

• Multiple mine sites between Norseman and Kalgoorlie

• • 10km from Norseman and the historic 5Moz Norseman gold mine

• • Adjacent to sealed Coolgardie-Esperance Highway

• • Access to gas, water, road and rail infrastructure

• • 180km from the deep-water Port of Esperance

• Tenements are prospective for palladium, nickel sulphide, gold, and nickel-cobalt laterite mineralisation

• Current JORC compliant 25Mt nickel-cobalt laterite resource

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Norseman Project

Palladium Targets Identified from Existing Drilling

• High palladium & rhodium assay results identified from historical analysis beneath & adjacent to existing cobalt resources[1]

• 35 RC holes - anomalous palladium >0.4 g/t in regolith, 16 RC holes - anomalous palladium >0.2 g/t in fresh rock

• Best palladium results from weathered rock;

• 48m @ 0.89 g/t Pd, 0.45 g/t Pt, 0.1 % Cu & 0.37% Ni from 3m (MTRC112) incl. 5m @ 2.1 g/t Pd, 1.4 g/t Pt, 0.13% Cu & 0.23% Ni from 31m

• Best palladium results from fresh rock;

• 27m @ 0.58 g/t Pd, 0.12 g/t Pt, 0.13 % Cu & 0.18% Ni from 123m (MTRC096) incl. 3m @ 1.1 g/t Pd, 0.19 g/t Pt, 0.23% Cu & 0.26% Ni from 135m

• 2m @ 2.39 g/t Pd, 0.63 g/t Pt, < 0.01 % Cu & 0.11% Ni from 92m (MTRC128) incl. 1m @ 4.3 g/t Pd, 1.1 g/t Pt, < 0.01% Cu & 0.12% Ni from 92m

• Two drill holes assayed for rhodium - prospective max. grades of 0.36 g/t Rh in weathered rock & 0.18 g/t in fresh rock

• Multiple drill ready targets with +5km of prospective strike length at Mt Thirsty & +10km of prospective strike length at Mission Sill

• Refer to ASX announcement dated 17[th] May 2021

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Drill Section with Palladium Mineralisation and Target Zone at the Mt Thirsty Prospect

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Drill Section with Basement Palladium Mineralisation and Target Contact Zone at the Mission Sill Prospect

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Norseman Project

Two Priority Drill Targets from New Soil Sampling[1]

• New sampling shows two zones of strong palladium/platinum potential with extensive strike lengths of ~400m and 800m respectively: 1) Mission Sill at an ultramafic/mafic contact 2) Jimberlana Dyke at a particular unit within the layered intrusive

• Maximum values from soil sampling include:

• Palladium value of 0.81 g/t,

• Platinum value of 0.26 g/t,

• Nickel value of 0.42%,

• Copper value of 0.11%

• 44 samples from a total of 458 returned palladium values greater than 0.1 g/t

• • Currently planned 10,000m aircore drilling program updated to include new targets in upcoming drill program (approx. start date in late Sept/Oct 2021)

Mission Sill & Jimberlana Prospects at Norseman with Soil Sampling Location (TMI mag)

1. Refer to ASX announcement dated 25[th] August 2021

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Norseman Project

Nickel and Cobalt Deposit

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

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

• Shallow, flat lying deposit, 20 - 80 metres deep

• Contiguous high-grade cobalt mineralisation

• Close to existing infrastructure within a mining focused district of Western Australia

• Marketing website for cobalt project at https://www.auscobalt.com.au/

• Provides leverage to increasing cobalt demand from EV battery technology

1) See slide 23 for details

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Well supported junior exploration company

A Significant Investment Opportunity

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Highly leveraged to discovery success

Fraser Range and Norseman projects with strong potential for new resource discoveries Active explorer with experienced management and team Focused on discovery of sustainable technology metals – nickel, copper, cobalt & palladium

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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).

JORC Resources

Cut-off	Class	Tonnes Mt		Co		Ni
Cobalt %			%	Tonnes	%	Tonnes
MT THIRSTY SILL
0.06 %	Indicated	10.5	0.12	12,100	0.58	60,800
	Inferred	2.0	0.11	2,200	0.51	10,200
	Total	12.5	0.11	14,300	0.57	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

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 Presentation, the Company is not aware of any new information or data that materially affects the information included in the Announcements.

Investor Information: Website www.galileomining.com.au email info@galmining.com.au phone +61 8 9463 0063

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