GALILEO MINING LTD — Regulatory Filings 2021

Aug 22, 2021

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23 August 2021 ASX: GAL

MORE SULPHIDES IN DELTA BLUES DRILLING

Corporate Directory

Directors

Chairman & MD Brad Underwood

Non-Executive Director Noel O’Brien

Non-Executive Director Mathew Whyte

Projects

Fraser Range Project Nickel-Copper-Cobalt

Norseman Project Cobalt-Nickel-Palladium

Highlights

• Third RC drill hole at the Delta Blues DB2 target intercepts more sulphides expanding the mineralised strike length to a minimum of 210 metres

• Semi-massive sulphides from DBRC003 are predominantly pyrrhotite with minor chalcopyrite (copper sulphide) over interval from 154m to 157m within larger zone of disseminated sulphide

• Initial RC drill testing has been completed at DB1 target with drill hole DBRC004 touching only the very top of the EM model which was calculated to start between 175m and 255m below surface[1]

• Nickel prospective intrusive rocks intersected at DB1 and deeper diamond drilling is required to determine the conductive source

• No graphite or sulphidic sediment (false positives) in DBRC004 drill chips from the DB1 target

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Contact Details

T: +61 8 9463 0063 E: info@galmining.com.au W: www.galileomining.com.au 13 Colin St, West Perth, WA

• Diamond drilling is planned to assess economic potential at DB1 and DB2 post receipt of RC drill sample assays and EM surveying

Galileo Mining Ltd (ASX: GAL, “Galileo” or the “Company”) is pleased to provide an update on the reverse circulation (RC) drilling program at the Company’s Delta Blues prospect within the Fraser Range Belt in Western Australia.

Figure 1 - Drill chips from DBRC003; semi-massive sulphide from 154-157m

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154-155m 155-156m 156-157m
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(1) Refer to Galileo’s ASX announcements dated 4th May 2021

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Commenting on the first Delta Blues drilling program, Galileo Managing Director Brad Underwood said: “ It is very uncommon to come across sulphide mineralisation of the scale we see at the DB2 target. While the economic potential of the mineralisation will need to be further assessed, the results to date are highly encouraging for the prospectivity of our drill targets in the area.

“Initial RC drill testing of the DB1 target has been completed and was designed to intercept the very top of the EM model calculated to be between 175 and 255 metres below surface. The source of the conductive anomaly has yet to be explained and nickel prospective intrusive rocks were noted in the geology logs. Most importantly no sulphidic or graphitic sediments were recorded and the target remains strongly compelling due to its high modelled conductivity and geological setting.

Our immediate focus for Delta Blues now moves to the assay results and the results of additional geophysical surveying which will help define the deeper targets for diamond drill testing. We look forward to updating the market as these results become available.”

Figure 2 – RC Drill Hole Plan Location at Delta Blues DB2 with EM Target over TMI Magnetic Image

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210m
strike
length
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The first deep RC drilling campaign at the Delta Blues prospect is now complete with three drill holes at the DB2 target intercepting semi-massive sulphides over a minimum strike length of 210m (Figure 2).

The scale of the mineralised system at DB2 is substantial with modelled conductor dimensions up to 500m by 500m (Table 1). Only the very top of the conductor at DB2 has been drilled and deeper diamond drilling is required to determine economic potential of the prospect.

One drill hole (DBRC004) was completed at the DB1 target (Figures 3 & 4), with a second drill hole to the south (DBRC005) abandoned after drill rods became bogged due to running sands collapsing into the drill hole. Geological logging of DBRC004 records multiple units of intrusive rocks of the kind associated with known nickel-copper occurrences in the Fraser Range belt. Summary drill logs are provided in Appendix 1.

The cause of the conductive anomaly at DB1 was not identified and deeper diamond drilling is required to determine the source. It is important however to recognise that no graphite or sulphidic sediments were logged in the drill hole and that the strongly conductive source (Table 1) remains unexplained.

Figure 3 –– RC Drill Hole Plan Location at Delta Blues DB1 with EM Target over TMI Magnetic Image

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Samples from the RC drilling have been submitted for analysis to the laboratory in Kalgoorlie with results expected in September. Timing of diamond drilling is subject to rig availability as Western Australia continues to be affected by labour shortages which limit the ability of contractors to undertake Galileo’s drill programs.

Table 1: Delta Blues modelled conductors:

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

Figure 4 –– Cross Section of Drill Hole DBRC004 with EM Target at the Delta Blues DB1 Prospect

DBRC004

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Figure 5 – Delta Blues Conductors with Aircore Drilling and Neighbouring Prospects (TMI Magnetics)

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Figure 6 – Galileo Prospect Locations in the Fraser Range Nickel Belt

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Competent Person Statement

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 Managing Director Chapter One Advisors E: dtasker@chapteroneadvisors.com.au T: +61 433 112 936

About Galileo Mining:

Galileo Mining Ltd (ASX: GAL) is focussed on the exploration and development of nickel, copper, cobalt and palladium resources in Western Australia. GAL has Joint Ventures with the Creasy Group over tenements in the Fraser Range which are highly prospective for nickel-copper sulphide deposits similar to the operating Nova mine. GAL also holds tenements near Norseman with over 26,000 tonnes of contained cobalt, and 122,000 tonnes of contained nickel, in JORC compliant resources (see Figure 7 below).

Figure 7: JORC 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/asx-announcements/). Galileo confirms that all material assumptions and technical parameters underpinning the Estimates continue to apply and have not materially changed).

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

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Appendix 1 –– Delta Blues Prospect RC Drill Hole Summary Logs

DBRC003 Preliminary Drill Log Summary (DB2 Target). Thin section petrography required to determine precise rock classifications.

From (m)	To (m)	Comment
0	39	Transported and sediment cover
39	70	Quartz-garnet-biotite gneiss
70	78	Quartz-garnet gneiss
78	110	Quartz-garnet gneiss, minor mafic granulite bands
110	141	Mafic granulite and quartz gneiss
141	148	Mafic intrusion (logged as gabbro)
148	160	Mafic intrusion with disseminated sulphide (semi-massive sulphide from 154m to 157m)
160	178	Mafic intrusion with felsic (quartz rich) intrusive bands
178	213	Quartz-garnet gneiss

DBRC004 Preliminary Drill Log Summary (DB1 Target). Thin section petrography required to determine precise rock classifications.

From (m)	To (m)	Comment
0	43	Transported and sediment cover
43	59	Saprolite clays
59	119	Mafic intrusion (logged as gabbro)
119	139	Quartz-garnet gneiss
139	178	Quartz-feldspar intrusion (possible layered intrusion)
178	190	Intermediate intrusion (possible layered intrusion)
190	200	Mafic intrusion (possible layered intrusion)

Appendix 2 –– RC Drillhole Collar Details at the Delta Blues Prospect

Hole ID	Prospect	East	North	RL	Dip	Azimuth	Depth (m)
DBRC001	Delta Blues (DB2)	583488	6544022	231	-70	270	214
DBRC002	Delta Blues (DB2)	583495	6544110	229	-70	270	214
DBRC003	Delta Blues (DB2)	583467	6543902	232	-60	270	213
DBRC004	Delta Blues (DB1)	578820	6547155	226	-80	270	200
DBRC005	Delta Blues (DB1)	578740	6546800	224	-80	270	46 (Abandoned)

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Appendix 3:

Galileo Mining Ltd – Fraser Range 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. •Each RC bag was spear sampled to provide a 3-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 sample intervals sent to laboratory for analysis with remainder of drill hole assayed using 3m composite samples •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. •Assay results are pending
Drilling techniques	• Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is _oriented and ifso, by what method, etc). _	•RC drilling was undertaken using a 5.25“ face sampling drill bit completed by Hagstrom Drilling Pty Ltd.
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.	•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 otherwise deemed necessary. •No relationship has been determined between sample recoveries and grade and there is insufficient data to determineifthereis 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	•Preliminary geological logging of drill holes was done on a visual basis including lithology, grainsize, mineralogy, colour and weathering. •Logging of drill chips is qualitative and based onthe presentationofthe1m

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	Criteria	JORC Code explanation	Commentary
		nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant _intersections logged. _	samples in the chip trays. •All 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 initial RC drill samples were collected using a PVC spear as 3m composites (2-3kg). Other composites of 2m and individual 1m samples were collected where required ie, at the bottom of hole. •Selected 1m samples for intervals deemed of interest by the Geologist supervising the drill rig were submitted to the assay laboratory. These 1m samples were collected at the time of drilling from the drill rig mounted cone splitter. •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.
	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. _	•NA –assay results pending
	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. Data is then sent to the Galileo database manager for validation and upload into the database.
	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 from surface.

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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 for the individual drill holes was not grid based. The holes were placed to target potential mineralisation as indicated by geophysical methods (EM) and geological interpretation. •Drill spacing is insufficient for the purposes of Mineral Resource estimation.
	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 regional lithological strike and dip or perpendicular to the modelled EM conductor.
	Sample security	• The measures taken to ensure sample security.	•Each sample was put into a pre- numbered draw string calico bag, tied off and then several placed in a large plastic “polyweave” bag which was zip tied closed. For transport, samples were placed on a clean ute tray and covered with a cargo cover to ensure no loss of material. •Samples were delivered directly to the laboratory in Kalgoorlie by Galileo staff orcontractors.
	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 audits have beenperformed.

Section 2 Reporting of Exploration Results

(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 nationalpark	•The Fraser Range Project comprises six granted exploration licenses, covering 602km2 •Kitchener JV tenement E28/2064 (67% NSZ Resources Pty Ltd, 33% Great Southern Nickel Pty Ltd). •Kitchener tenements E28/2912 and E28/2949 (100%NSZ Resources PtyLtd)

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	Criteria	JORC Code explanation	Commentary
		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.	•Yardilla JV tenements: E63/1539, E63/1623, E63/1624 (67% FSZ Resources Pty Ltd, 33% Dunstan Holdings Pty Ltd) •NSZ Resources Pty Ltd & FSZ Resources Pty Ltd are wholly owned subsidiaries of Galileo Mining Ltd. •Great Southern Nickel Pty Ltd and Dunstan Holdings Pty Ltd are entities of Mark Creasy •The Kitchener Area is approximately 250km east of Kalgoorlie on vacant crown land and on the Boonderoo Pastoral Station. •The Yardilla Area is approximately 90km east of Norseman on vacant crown land and on the Fraser Range Pastoral Station. •Both the Kitchener Area and the Yardilla Area 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.	•NA - no previous nickel exploration on the tenements
	Geology	• Deposit type, geological setting and style of mineralisation.	•The target geology is indicative of magmatic nickel- copper sulphide mineralisation hosted in or associated with mafic-ultramafic intrusions within the Fraser Complex of the Albany-Fraser Orogeny. •The underlying unweathered lithology is granulite facies metamorphosed and partially retrogressed sedimentary, mafic and ultramafic igneous rocks as determined by petrographic work.
	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 drill hole collar table in Appendix 1

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	Criteria	JORC Code explanation	Commentary
	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.	•NA – no assays reported
	Relationship between mineralisation 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’).	•NA – assays not reported •The drilling is oriented perpendicular to the regional lithological strike and dip or perpendicular to the modelled EM conductors
	Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any 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. •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,	•Detailed 50m line spaced aeromagnetic data has been used for interpretation of underlying geology. Data was collected using a Geometrics G-823 Caesium vapor magnetometer at an average flying height of 30m. •Modelling and interpretation of MLEM geophysical data was undertaken by Spinifex Gpx Pty Ltd and Geopotential Pty Ltd. •All MLEM geophysical interpretations were

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	Criteria	JORC Code explanation	Commentary
		geotechnical and rock characteristics; potential deleterious or contaminating substances.	completed independently to provide models to assist drill targeting. •Detailed gravity data has been used for interpretation of underlying geology. Data was collected using Scintrex CG-5 Autograv gravity meters positioned using a Leica GX1230 receiver and GNSS base station.
	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. _	•Assaying of samples from the DB1 & DB2 prospects •Petrographical examination of selected intervals of RC chips •Down hole EM surveying at the Delta Blues DB2 prospect •Surface EM surveying at the DB1 prospect •Diamond drill testing of the DB1 and DB2 targets

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