GALIANO GOLD ANNOUNCES POSITIVE INITIAL DEEP DRILLING RESULTS AT ABORE INCLUDING 36m @ 2.5 g/t Au

Rhea-AI Summary

Galiano Gold (NYSE: GAU) announced significant results from its deep step-out drilling program at the Abore deposit in Ghana's Asanko Gold Mine. The program, consisting of four holes totaling 1,907 meters, successfully intercepted mineralization across a 1,200-meter strike length.

Key highlights include an impressive intercept of 36 meters at 2.5 g/t gold from 370m depth, including 22 meters at 3.8 g/t gold. The program confirmed that the Abore granite and mineralizing system extends 200 meters below the current Mineral Reserve pit shell and remains open in all directions, suggesting potential for bulk underground mining development.

The Abore deposit currently holds Measured and Indicated Mineral Resources of 638,000 ounces at 1.24 g/t Au and Inferred Mineral Resources of 78,000 ounces at 1.17 g/t Au as of December 31, 2024.

Positive

• All four deep holes successfully intercepted mineralization, confirming system continuity
• High-grade intercepts including 36m @ 2.5 g/t Au suggest potential for bulk underground mining
• Mineralization remains open in all directions, indicating significant expansion potential
• System extends 200m below current Mineral Reserve pit shell across 1,200m strike length

Negative

• None.

Insights

Mining Exploration Geologist

Galiano's deep drilling at Abore revealed significant gold mineralization below current reserves, demonstrating substantial underground expansion potential.

The recent deep step-out drilling program at Galiano's Abore deposit has delivered exceptionally promising results that materially improve the mine's long-term prospects. The program successfully intercepted mineralization across a 1,200-meter strike length in all four test holes, confirming that the mineralizing system extends at least 200 meters below the current reserve pit shell.

The intercept quality is particularly impressive - hole ABDD25-350 returned 36m @ 2.5 g/t gold including 22m @ 3.8 g/t, while ABPC25-356 showed 16m @ 3.1 g/t. These widths and grades are significantly above the current Abore resource grade of 1.24 g/t and suggest potential for bulk underground mining scenarios that could substantially extend mine life.

What makes these results especially valuable is the continuity demonstrated across all four widely-spaced holes. This indicates a robust mineralizing system rather than isolated pockets. The mineralization remains open in all directions, providing multiple vectors for future resource growth.

The geological context here is critical - the mineralization is primarily contained within a granite intrusion along its contact with sedimentary rocks, typically hosting west-dipping quartz vein arrays. This predictable structural control increases confidence in targeting future drilling and potential resource conversion.

Combined with Galiano's previously announced discovery of a high-grade zone (50m @ 3.2 g/t) from their Q1 2025 drilling, these results represent a potential step-change in Abore's economic profile. The deposit, currently hosting 638,000 ounces of Measured and Indicated resources, now shows clear pathways to significant resource growth and potentially higher-grade mining scenarios.

VANCOUVER, BC, July 14, 2025 /PRNewswire/ - Galiano Gold Inc. ("Galiano" or the "Company") (TSX: GAU) (NYSE American: GAU) today announced positive results from a deep step-out drilling program at the Abore deposit, with mineralization intercepted in all four holes across a 1,200 meters ("m") strike length. This drilling campaign reinforces Abore's expansion potential at depth and provides a foundation for future deep drilling programs to further test for mineralization below the boundaries of the current Mineral Reserve and Mineral Resource. Abore is a cornerstone deposit at the Asanko Gold Mine ("AGM"), located in Ghana, West Africa, and is currently being mined by the Company.

Abore Deep Drilling Results

The completed Abore deep step-out drilling program consisted of four holes totalling 1,907m and was designed to test for continuity of mineralization significantly below the current Abore Mineral Reserve and Mineral Resource and to demonstrate the blue-sky potential for future Mineral Resource and Mineral Reserve expansion. The program confirmed the Abore granite and mineralizing system continues 200m below the current Mineral Reserve pit shell over a strike length of at least 1,200m and remains open in all directions. Notably, the system appears to carry grades and widths at these depths sufficient to support the potential development of bulk underground mining. 

Highlights of intercepts from the Abore deep drilling program include (all diamond core samples):

• Hole ABDD25-350: 36m @ 2.5 grams per tonne ("g/t") gold ("Au") from 370m including 22m @ 3.8 g/t Au
• Hole ABDD25-352: 18m @ 1.9 g/t Au from 415m and 12m @ 1.5 g/t Au from 439m
• Hole ABPC25-356: 16m @ 3.1 g/t Au from 412m and 5m @ 2.3 g/t Au from 433m

"Intersecting mineralized granite in all four deep holes of this program is an important step in advancing our understanding of the blue-sky underground expansion potential at Abore," stated Matt Badylak, Galiano's President and CEO. "These results continue to build on the success from our previous drilling campaigns and confirm that the controlling structures and host lithologies that characterize the Abore mineralizing system are present and fertile well below any areas previously drilled to date."

Abore Infill Drilling Phase 2 Program

Following the positive results of a Phase 1 drilling program reported in Q1 2025, which targeted mineralization within and directly below the Mineral Reserve pit (see press release "Galiano Gold Announces Discovery of New High-Grade Zone at Abore with Intercept of 50m @ 3.2 g/t Au & Results of Infill Drilling Program" dated May 5, 2025), the Company is pleased to announce that a Phase 2 infill drilling program has commenced at Abore. This infill program will continue to test for further extensions of mineralization immediately below the boundaries of Abore's Mineral Reserve and Mineral Resource. 

Background

Abore is located approximately 13 kilometers north of the AGM's processing plant, directly along the haul road, and has current Measured and Indicated Mineral Resources of 638,000 ounces at 1.24 g/t Au and Inferred Mineral Resources of 78,000 ounces at 1.17 g/t Au, as published in the Company's most recent Mineral Reserve and Mineral Resource estimates effective December 31, 2024 (see press release "Galiano Gold Announces 2025 Guidance And Provides Mineral Reserve And Mineral Resource Update" dated January 28, 2025).

The Abore deposit sits along the Esaase shear corridor, which also hosts the Esaase deposit, and forms part of the northeast striking Asankrangwa gold belt. The geology of Abore is characterized by a sedimentary sequence composed primarily of siltstones, shales and thickly bedded sandstones that has been intruded by a granite, which lies parallel to the shear and dipping steeply to the northwest. The majority of mineralization is constrained to the granite, hosted in west dipping quartz vein areas developed primarily along the eastern margin of the granite/sediment contact.

Table 1: Abore deep drilling intercepts table^1,2

Hole ID	From (m)	To (m)	Width (m)	Grade (g/t Au)	Intercept Description
ABDD25-349	438	441	3	0.6	3.0m @ 0.6 g/t
ABDD25-350	191.1	196.6	5.5	0.7	5.5m @ 0.7 g/t
ABDD25-350	370	406.2	36.2	2.5	36.2m @ 2.5 g/t
Including	384	406	22	3.8	22m @ 3.8 g/t
ABDD25-350	416	424	8	0.5	8.0m @ 0.5 g/t
ABPC25-352	415	432.2	17.2	1.9	17.2m @ 1.9 g/t
ABPC25-352	439	444.1	5.1	2.3	5.1m @ 2.3 g/t
ABPC25-352	448	451	3	1.2	3.0m @ 1.2 g/t
ABPC25-356	412.5	428.6	16.1	3.1	16.1m @ 3.1 g/t
ABPC25-356	433.3	438	4.7	2.3	4.7m @ 2.3 g/t

^Notes:

^{1. Intervals reported are hole lengths with true width estimated to be 80%-90%
2. Intervals are not top cut and are calculated with the assumptions of > 0.5 g/t and < 3m of internal waste.}

Qualified Person and QA/QC

Chris Pettman, P. Geo, Vice President Exploration of Galiano, is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Pettman is responsible for all aspects of the work, including the Data Verification and Quality Control/Quality Assurance programs and has verified the data disclosed, by reviewing all data and supervising its compilation. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date. Mr. Pettman is not independent of Galiano.

Certified Reference Materials and Blanks are inserted by Galiano into the sample stream at the rate of 1:14 samples. Field duplicates are collected at the rate of 1:30 samples. All samples have been analyzed by Intertek Minerals Ltd. ("Intertek") in Tarkwa, Ghana with standard preparation methods. A combination of fire assay with atomic absorption finish and photon analyses were undertaken.  Photon assays used 500g samples and fire assays used 50g samples. ChrysosTM Photon assay uses high energy X-ray to activate gold nuclei in a large sample ca. 500g. Photon assay uses a larger sample, thus the variance on the sampling error is less. Crushing the sample to 2-3mm is required in many cases. Photon assay tends to have a higher detection limit than fire assay (0.02ppm). Intertek does its own introduction of QA/QC samples into the sample stream and reports them to Galiano for double checking. Higher grade samples are re-analysed from pulp or reject material or both. Intertek is an international company operating in 100 countries and is independent of Galiano. It provides testing for a wide range of industries including the mining, metals, and oil sectors.

About Galiano Gold Inc.

Galiano is focused on creating a sustainable business capable of value creation for all stakeholders through production, exploration and disciplined deployment of its financial resources. The Company owns and operates the Asanko Gold Mine, which is located in Ghana, West Africa. Galiano is committed to the highest standards for environmental management, social responsibility, and the health and safety of its employees and neighbouring communities. For more information, please visit www.galianogold.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements and information contained in this news release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which we refer to collectively as "forward-looking statements". Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future conditions and courses of action. All statements and information other than statements of historical fact may be forward looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.

Forward-looking statements in this news release include, but are not limited to statements regarding the Company's expectations and timing with respect to current and planned drilling programs at Abore, and the results thereof; the potential to optimize and/or expand the Abore Reserve pit and the resulting impact on mineral reserves and ore delivery; the Company's belief in the potential of Abore; and the Company's plans to update the mineral resources and mineral reserves and timing of release of production and cost guidance. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: development plans and capital expenditures; the price of gold will not decline significantly or for a protracted period of time; the accuracy of the estimates and assumptions underlying mineral reserve and mineral resource estimates; the Company's ability to raise sufficient funds from future equity financings to support its operations, and general business and economic conditions; the global financial markets and general economic conditions will be stable and prosperous in the future; the ability of the Company to comply with applicable governmental regulations and standards; the mining laws, tax laws and other laws in Ghana applicable to the AGM will not change, and there will be no imposition of additional exchange controls in Ghana; the success of the Company in implementing its development strategies and achieving its business objectives; the Company will have sufficient working capital necessary to sustain its operations on an ongoing basis and the Company will continue to have sufficient working capital to fund its operations; and the key personnel of the Company will continue their employment.

The foregoing list of assumptions cannot be considered exhaustive.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: mineral reserve and mineral resource estimates may change and may prove to be inaccurate; metallurgical recoveries may not be economically viable; life of mine estimates are based on a number of factors and assumptions and may prove to be incorrect; actual production, costs, returns and other economic and financial performance may vary from the Company's estimates in response to a variety of factors, many of which are not within the Company's control; inflationary pressures and the effects thereof; the AGM has a limited operating history and is subject to risks associated with establishing new mining operations; sustained increases in costs, or decreases in the availability, of commodities consumed or otherwise used by the Company may adversely affect the Company; adverse geotechnical and geological conditions (including geotechnical failures) may result in operating delays and lower throughput or recovery, closures or damage to mine infrastructure; the ability of the Company to treat the number of tonnes planned, recover valuable materials, remove deleterious materials and process ore, concentrate and tailings as planned is dependent on a number of factors and assumptions which may not be present or occur as expected; the Company's mineral properties may experience a loss of ore due to illegal mining activities; the Company's operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; outbreaks of COVID-19 and other infectious diseases may have a negative impact on global financial conditions, demand for commodities and supply chains and could adversely affect the Company's business, financial condition and results of operations and the market price of the common shares of the Company; the Company's operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; the Company may be unsuccessful in attracting and retaining key personnel; labour disruptions could adversely affect the Company's operations; recoveries may be lower in the future and have a negative impact on the Company's financial results; the lower recoveries may persist and be detrimental to the AGM and the Company; the Company's business is subject to risks associated with operating in a foreign country; risks related to the Company's use of contractors; the hazards and risks normally encountered in the exploration, development and production of gold; the Company's operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the effects of climate change or extreme weather events may cause prolonged disruption to the delivery of essential commodities which could negatively affect production efficiency; the Company's operations and workforce are exposed to health and safety risks; unexpected costs and delays related to, or the failure of the Company to obtain, necessary permits could impede the Company's operations; the Company's title to exploration, development and mining interests can be uncertain and may be contested; geotechnical risks associated with the design and operation of a mine and related civil structures; the Company's properties may be subject to claims by various community stakeholders; risks related to limited access to infrastructure and water; risks associated with establishing new mining operations; the Company's revenues are dependent on the market prices for gold, which have experienced significant recent fluctuations; the Company may not be able to secure additional financing when needed or on acceptable terms; the Company's shareholders may be subject to future dilution; risks related to changes in interest rates and foreign currency exchange rates; risks relating to credit rating downgrades; changes to taxation laws applicable to the Company may affect the Company's profitability and ability to repatriate funds; risks related to the Company's internal controls over financial reporting and compliance with applicable accounting regulations and securities laws; risks related to information systems security threats; non-compliance with public disclosure obligations could have an adverse effect on the Company's stock price; the carrying value of the Company's assets may change and these assets may be subject to impairment charges; risks associated with changes in reporting standards; the Company may be liable for uninsured or partially insured losses; the Company may be subject to litigation; damage to the Company's reputation could result in decreased investor confidence and increased challenges in developing and maintaining community relations which may have adverse effects on the business, results of operations and financial conditions of the Company and the Company's share price; the Company may be unsuccessful in identifying targets for acquisition or completing suitable corporate transactions, and any such transactions may not be beneficial to the Company or its shareholders; the Company must compete with other mining companies and individuals for mining interests; the Company's growth, future profitability and ability to obtain financing may be impacted by global financial conditions; the Company's common shares may experience price and trading volume volatility; the Company has never paid dividends and does not expect to do so in the foreseeable future; the Company's shareholders may be unable to sell significant quantities of the Company's common shares into the public trading markets without a significant reduction in the price of its common shares, or at all; and the risk factors described under the heading "Risk Factors" in the Company's Annual Information Form.

Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in, or incorporated by reference in, this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

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SOURCE Galiano Gold Inc.

FAQ

What were the key findings from GAU's Abore deep drilling program?

The program revealed mineralization in all four holes across a 1,200m strike length, with the best intercept showing 36m @ 2.5 g/t Au including 22m @ 3.8 g/t Au. The system extends 200m below the current pit shell.

What are the current Mineral Resources at Galiano Gold's Abore deposit?

As of December 31, 2024, Abore has Measured and Indicated Resources of 638,000 ounces at 1.24 g/t Au and Inferred Resources of 78,000 ounces at 1.17 g/t Au.

Where is the Abore deposit located and what is its significance to GAU?

Abore is a cornerstone deposit located 13 kilometers north of the Asanko Gold Mine's processing plant in Ghana, West Africa. It sits along the Esaase shear corridor and is currently being mined by the company.

What are Galiano Gold's next steps for the Abore deposit?

GAU has commenced a Phase 2 infill drilling program to test for further extensions of mineralization immediately below the boundaries of Abore's Mineral Reserve and Mineral Resource.