Fiddich Review Centre
Gold

GALIANO GOLD PROVIDES NKRAN DRILLING UPDATE

VANCOUVER, BC, Aug. 25, 2022 /PRNewswire/ – Galiano Gold Inc. (“Galiano” or the “Company”) (TSX: GAU) (NYSE American: GAU) is pleased to provide an update of drilling results at Nkran following the completion of an infill drilling program at the Asanko Gold Mine (“AGM”), located in Ghana. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE,NYSE: GFI), with the JV managed and operated by Galiano.

Effective February 28, 2022, Nkran has a Mineral Resource Estimate of 12.1 Mt at 2.09 g/t for 814 kozs indicated and 1.3 Mt at 2.23 g/t for 96 kozs inferred. The 2022 infill drilling program was designed to enhance confidence in the indicated Mineral Resource and explore for potential extensions of mineralization at Nkran.

Drilling has intercepted several high-grade intervals within and below the resource shell as described in National Instrument 43-101 Technical Report for the Asanko Gold Mine, Ashanti Region, Ghana, effective date February 28, 20221 and confirms continuity of mineralization within areas where higher levels of confidence were warranted. Results are currently being incorporated into an updated Mineral Resource Estimate which is expected to support an updated Mineral Reserve Estimate anticipated in Q1 2023.

Nkran Infill Drilling Highlights

24 diamond drill holes totalling 8,116m have been drilled at Nkran in 2022. Highlighted intercepts include:

  • Hole NKDD22-100: 16 meters @ 47.3 g/t gold from 13.6m and 41 meters @ 3.0 g/t gold from 135.4m 
  • Hole NKDD22-099: 11 meters @ 27.6 g/t gold from 259m 
  • Hole NKDD22-083: 49 meters @ 3.4 g/t gold from 261.7m and 58.50 meters @ 3.5 g/t gold from 336m 
  • Hole NKDD22-086: 16 meters @ 5.4 g/t gold from 191m
  • Hole NKDD22-080: 45 meters @ 2.3 g/t gold from 107m 
  • Hole NKDD22-105: 8 meters @ 10.4 g/t gold from 109m 
  • Hole NKDD22-106: 59 meters @ 2.7 g/t gold from 330m 

Nkran Overview (See Table 1 for full drilling results)

The Nkran pit is located immediately adjacent to the 5.8 million tonne per annum processing plant, and has historically yielded the highest average mined grades on the Asankrangwa Belt and contributed significant cash flows to the AGM. During the mining of cut 2, Nkran produced 15.2M tonnes at 1.63 g/t and reported metallurgical recoveries of 94%.

“We are encouraged by these results which demonstrate the continuity of high-grade mineralization below the previously mined portions of the Nkran deposit,” said Matt Badylak President and Chief Executive Officer. “This deposit has historically yielded significant cash flows due to its proximity to the processing plant, elevated grade profile and favourable metallurgy. It is important to note that mineralization extends below the current resource shell and remains open at depth. Going forward, we anticipate Nkran to be a key deposit in our upcoming Life of Mine Plan and are excited to incorporate these latest drilling results into an updated Technical Report scheduled for release in Q1 2023.”

Nkran Geology and Cross Sections

The Nkran geological setting is typical of the Asankrangwa belt with a sedimentary sequence of interlayered shale, siltstone, and sandstone. Two granitic bodies intrude along shear zones that control mineralization which dips steeply to the northwest along with the sheared host stratigraphy.

Table 1. Intercepts for 2022 Nkran infill drilling 2,3,4

Hole ID

From (m)

To (m)

 Width (m)

Grade
(g/t Au)

Intercept Description

NKDD22-077

927.9

936.15

8.25

1.2

8.25m @ 1.2 g/t

NKDD22-077

945

960

15

1.7

15.00m @ 1.7 g/t

NKDD22-077

965

973.2

8.2

2

8.20m @ 2.0 g/t

NKDD22-077

977

981

4

0.8

4.00m @ 0.8 g/t

NKDD22-077

1004

1014

10

1.5

10.00m @ 1.5 g/t

NKDD22-078

1

3

2

1.1

2.00m @ 1.1 g/t

NKDD22-078

17

27

10

5.7

10.00m @ 5.7 g/t

NKDD22-078

31

35

4

2.3

4.00m @ 2.3 g/t

NKDD22-078

52

54

2

0.6

2.00m @ 0.6 g/t

NKDD22-078

66

86

20

1.5

20.00m @ 1.5 g/t

NKDD22-078

91

112

21

2

21.00m @ 2.0 g/t

NKDD22-078

116

137

21

1.8

21.00m @ 1.8 g/t

NKDD22-078

142

151

9

2.6

9.00m @ 2.6 g/t

NKDD22-078

159

171

12

1.7

12.00m @ 1.7 g/t

NKDD22-079

15

19

4

1.2

4.00m @ 1.2 g/t

NKDD22-079

46.8

57

10.2

2

10.20m @ 2.0 g/t

NKDD22-079

91.6

96

4.4

5.2

4.40m @ 5.2 g/t

NKDD22-079

100

120.7

20.7

1.5

20.70m @ 1.5 g/t

NKDD22-079

145.4

176

30.6

2.5

30.60m @ 2.5 g/t

NKDD22-080

73

75

2

0.6

2.00m @ 0.6 g/t

NKDD22-080

90.72

98.75

8.03

0.8

8.03m @ 0.8 g/t

NKDD22-080

107

152.3

45.3

2.3

45.30m @ 2.3 g/t

NKDD22-080

157.15

161

3.85

1.6

3.85m @ 1.6 g/t

NKDD22-080

165.2

176

10.8

4

10.80m @ 4.0 g/t

NKDD22-080

219

222.6

3.6

0.4

3.60m @ 0.4 g/t

NKDD22-081

29.7

75

45.3

1.5

45.30m @ 1.5 g/t

NKDD22-081

91

94

3

0.9

3.00m @ 0.9 g/t

NKDD22-081

161

172

11

1.8

11.00m @ 1.8 g/t

NKDD22-081

204

207

3

3.3

3.00m @ 3.3 g/t

NKDD22-081

215.3

217.8

2.5

4.3

2.50m @ 4.3 g/t

NKDD22-083

55.9

66.3

10.4

1.1

10.40m @ 1.1 g/t

NKDD22-083

73

88

15

1.4

15.00m @ 1.4 g/t

NKDD22-083

102

106

4

0.9

4.00m @ 0.9 g/t

NKDD22-083

114

124

10

0.6

10.00m @ 0.6 g/t

NKDD22-083

129

131

2

0.8

2.00m @ 0.8 g/t

NKDD22-083

157

162

5

0.5

5.00m @ 0.5 g/t

NKDD22-083

207.6

213

5.4

4.6

5.40m @ 4.6 g/t

NKDD22-083

221

224

3

3

3.00m @ 3.0 g/t

NKDD22-083

230

238

8

1.6

8.00m @ 1.6 g/t

NKDD22-083

242

256

14

1.7

14.00m @ 1.7 g/t

NKDD22-083

261.7

310.6

48.9

3.4

48.90m @ 3.4 g/t

NKDD22-083

315

330

15

1.4

15.00m @ 1.4 g/t

NKDD22-083

336

394.5

58.5

3.5

58.50m @ 3.5 g/t

NKDD22-083

400

402

2

0.7

2.00m @ 0.7 g/t

NKDD22-083

408.1

411.6

3.5

0.5

3.50m @ 0.5 g/t

NKDD22-083

415

428.4

13.4

0.8

13.40m @ 0.8 g/t

NKDD22-083

442.4

453

10.6

0.9

10.60m @ 0.9 g/t

NKDD22-084

71.36

75.25

3.89

3.8

3.89m @ 3.8 g/t

NKDD22-084

86

93

7

2.3

7.00m @ 2.3 g/t

NKDD22-084

101.18

107.65

6.47

1.8

6.47m @ 1.8 g/t

NKDD22-084

115.7

120

4.3

2.4

4.30m @ 2.4 g/t

NKDD22-084

124

128.45

4.45

1.2

4.45m @ 1.2 g/t

NKDD22-084

170

175

5

1.4

5.00m @ 1.4 g/t

NKDD22-084

183

188

5

1.4

5.00m @ 1.4 g/t

NKDD22-084

201.91

206

4.09

2.7

4.09m @ 2.7 g/t

NKDD22-084

211.77

224

12.23

3.9

12.23m @ 3.9 g/t

NKDD22-086

55.65

62

6.35

1.2

6.35m @ 1.2 g/t

NKDD22-086

66.5

81.2

14.7

0.8

14.70m @ 0.8 g/t

NKDD22-086

87

97.5

10.5

1.3

10.50m @ 1.3 g/t

NKDD22-086

102

106

4

3.7

4.00m @ 3.7 g/t

NKDD22-086

112

121

9

2.4

9.00m @ 2.4 g/t

NKDD22-086

124.68

136.86

12.18

3.3

12.18m @ 3.3 g/t

NKDD22-086

145.3

149

3.7

1.6

3.70m @ 1.6 g/t

NKDD22-086

154

159

5

1.9

5.00m @ 1.9 g/t

NKDD22-086

168

170

2

1

2.00m @ 1.0 g/t

NKDD22-086

181

186

5

4.4

5.00m @ 4.4 g/t

NKDD22-086

191

207

16

5.4

16.00m @ 5.4 g/t

NKDD22-088

166

170

4

0.6

4.00m @ 0.6 g/t

NKDD22-088

184

191

7

0.7

7.00m @ 0.7 g/t

NKDD22-088

203.9

218.57

14.67

1.1

14.67m @ 1.1 g/t

NKDD22-088

258

268.86

10.86

0.7

10.86m @ 0.7 g/t

NKDD22-089

44

57.2

13.2

1.2

13.20m @ 1.2 g/t

NKDD22-089

63

65

2

6.5

2.00m @ 6.5 g/t

NKDD22-089

72.82

77

4.18

0.8

4.18m @ 0.8 g/t

NKDD22-089

98

103

5

1.1

5.00m @ 1.1 g/t

NKDD22-089

107

111

4

3.2

4.00m @ 3.2 g/t

NKDD22-089

164

170

6

1.2

6.00m @ 1.2 g/t

NKDD22-089

180

183

3

2.6

3.00m @ 2.6 g/t

NKDD22-089

197

205.2

8.2

1

8.20m @ 1.0 g/t

NKDD22-089

214

219

5

1

5.00m @ 1.0 g/t

NKDD22-089

229.4

234

4.6

0.6

4.60m @ 0.6 g/t

NKDD22-089

241.2

257

15.8

2.6

15.80m @ 2.6 g/t

NKDD22-089

289

303.2

14.2

1.7

14.20m @ 1.7 g/t

NKDD22-089

327

336.15

9.15

1.2

9.15m @ 1.2 g/t

NKDD22-091

124

142

18

2.7

18.00m @ 2.7 g/t

NKDD22-091

166

173

7

0.7

7.00m @ 0.7 g/t

NKDD22-091

180

183

3

3.6

3.00m @ 3.6 g/t

NKDD22-091

202

204

2

1.4

2.00m @ 1.4 g/t

NKDD22-091

208

237.5

29.5

1

29.50m @ 1.0 g/t

NKDD22-091

242.5

263.3

20.8

1.1

20.80m @ 1.1 g/t

NKDD22-091

266.8

272.7

5.9

1.3

5.90m @ 1.3 g/t

NKDD22-091

278.7

336.4

57.7

3.4

57.70m @ 3.4 g/t

NKDD22-091

432

435.3

3.3

0.7

3.30m @ 0.7 g/t

NKDD22-092

63

66

3

1

3.00m @ 1.0 g/t

NKDD22-092

89.5

94

4.5

1.9

4.50m @ 1.9 g/t

NKDD22-092

140

142

2

0.9

2.00m @ 0.9 g/t

NKDD22-092

154

166

12

0.9

12.00m @ 0.9 g/t

NKDD22-092

172

176.9

4.9

1

4.90m @ 1.0 g/t

NKDD22-092

189.84

211.65

21.81

5

21.81m @ 5.0 g/t

NKDD22-092

215.4

234

18.6

1

18.60m @ 1.0 g/t

NKDD22-092

240

242

2

2.9

2.00m @ 2.9 g/t

NKDD22-092

249

252

3

1.7

3.00m @ 1.7 g/t

NKDD22-092

282

284.2

2.2

1.7

2.20m @ 1.7 g/t

NKDD22-092

318.6

324.2

5.6

1.2

5.60m @ 1.2 g/t

NKDD22-093

108.6

114

5.4

0.6

5.40m @ 0.6 g/t

NKDD22-094

149.2

157

7.8

15.9

7.80m @ 15.9 g/t

NKDD22-094

198

200.7

2.7

2.8

2.70m @ 2.8 g/t

NKDD22-097

1.2

5

3.8

4.7

3.80m @ 4.7 g/t

NKDD22-097

47.5

54.3

6.8

3

6.80m @ 3.0 g/t

NKDD22-097

66.3

69.5

3.2

0.6

3.20m @ 0.6 g/t

NKDD22-097

79.7

81.8

2.1

8.5

2.10m @ 8.5 g/t

NKDD22-097

92.8

123

30.2

1.8

30.20m @ 1.8 g/t

NKDD22-097

134.1

136.4

2.3

1

2.30m @ 1.0 g/t

NKDD22-097

152.2

155

2.8

0.9

2.80m @ 0.9 g/t

NKDD22-097

172.3

199.3

27

1.1

27.00m @ 1.1 g/t

NKDD22-097

205.7

208

2.3

2.8

2.30m @ 2.8 g/t

NKDD22-097

231

256.2

25.2

1.4

25.20m @ 1.4 g/t

NKDD22-098

212

214

2

0.8

2.00m @ 0.8 g/t

NKDD22-098

248.5

250.5

2

1

2.00m @ 1.0 g/t

NKDD22-098

270

278

8

4.6

8.00m @ 4.6 g/t

NKDD22-098

284

297

13

1.3

13.00m @ 1.3 g/t

NKDD22-099

66

69

3

3.9

3.00m @ 3.9 g/t

NKDD22-099

259

270.3

11.3

27.6

11.30m @ 27.6 g/t

NKDD22-099

284.4

343.2

58.8

2.4

58.80m @ 2.4 g/t

NKDD22-100

4

8.4

4.4

2

4.40m @ 2.0 g/t

NKDD22-100

13.6

30

16.4

47.3

16.40m @ 47.3 g/t

NKDD22-100

33.2

44.3

11.1

5.2

11.10m @ 5.2 g/t

NKDD22-100

47.9

52.9

5

2.6

5.00m @ 2.6 g/t

NKDD22-100

58.5

60.9

2.4

1.1

2.40m @ 1.1 g/t

NKDD22-100

67.5

104

36.5

2.1

36.50m @ 2.1 g/t

NKDD22-100

107.5

131

23.5

2.8

23.50m @ 2.8 g/t

NKDD22-100

135.4

176.2

40.8

3

40.80m @ 3.0 g/t

NKDD22-100

210.6

217.1

6.5

2.1

6.50m @ 2.1 g/t

NKDD22-100

227.6

232

4.4

1.4

4.40m @ 1.4 g/t

NKDD22-100

236

244

8

1.8

8.00m @ 1.8 g/t

NKDD22-101

133

143

10

1.4

10.00m @ 1.4 g/t

NKDD22-101

164

168

4

2.4

4.00m @ 2.4 g/t

NKDD22-101

176

183

7

1

7.00m @ 1.0 g/t

NKDD22-101

215

219.6

4.6

2.2

4.60m @ 2.2 g/t

NKDD22-101

247.7

269

21.3

2.7

21.30m @ 2.7 g/t

NKDD22-101

300

305

5

1.1

5.00m @ 1.1 g/t

NKDD22-101

319.32

343

23.68

2.8

23.68m @ 2.8 g/t

NKDD22-101

416.8

426

9.2

0.7

9.20m @ 0.7 g/t

NKDD22-101

432

436

4

1.7

4.00m @ 1.7 g/t

NKDD22-101

442

447

5

1.9

5.00m @ 1.9 g/t

NKDD22-101

457

461

4

0.3

4.00m @ 0.3 g/t

NKDD22-101

498

503

5

1.1

5.00m @ 1.1 g/t

NKDD22-102

55

59

4

2

4.00m @ 2.0 g/t

NKDD22-102

259

264.4

5.4

1

5.40m @ 1.0 g/t

NKDD22-102

280.9

287

6.1

8.7

6.10m @ 8.7 g/t

NKDD22-102

292

299.3

7.3

0.4

7.30m @ 0.4 g/t

NKDD22-102

302.35

335

32.65

2.3

32.65m @ 2.3 g/t

NKDD22-102

339.4

346.4

7

1.5

7.00m @ 1.5 g/t

NKDD22-102

352.5

355.5

3

1

3.00m @ 1.0 g/t

NKDD22-102

362

365

3

1

3.00m @ 1.0 g/t

NKDD22-103

112

114

2

3

2.00m @ 3.0 g/t

NKDD22-103

119.7

134

14.3

2.8

14.30m @ 2.8 g/t

NKDD22-103

237

240

3

1

3.00m @ 1.0 g/t

NKDD22-103

375

378

3

7.8

3.00m @ 7.8 g/t

NKDD22-103

383

405

22

2.8

22.00m @ 2.8 g/t

NKDD22-103

409

418.4

9.4

2.7

9.40m @ 2.7 g/t

NKDD22-103

421.7

428

6.3

2.5

6.30m @ 2.5 g/t

NKDD22-103

476.6

483.7

7.1

0.8

7.10m @ 0.8 g/t

NKDD22-104

72

75.12

3.12

3.5

3.12m @ 3.5 g/t

NKDD22-104

327.6

343.6

16

9.5

16.00m @ 9.5 g/t

NKDD22-104

364

366.5

2.5

1.1

2.50m @ 1.1 g/t

NKDD22-104

383

386

3

2.8

3.00m @ 2.8 g/t

NKDD22-105

109

117

8

10.4

8.00m @ 10.4 g/t

NKDD22-105

322

348

26

1.7

26.00m @ 1.7 g/t

NKDD22-105

354

370

16

1.5

16.00m @ 1.5 g/t

NKDD22-105

380.6

387

6.4

1

6.40m @ 1.0 g/t

NKDD22-106

319

323.8

4.8

3.8

4.80m @ 3.8 g/t

NKDD22-106

330

389

59

2.7

59.00m @ 2.7 g/t

NKDD22-107

198

203.8

5.8

2.4

5.80m @ 2.4 g/t

Notes: 

1.

Refer to Section 14.3.7 of the AGM’s NI 43-101 Technical Report, effective date February 28, 2022.

2.

Intervals indicated are not true widths as there is insufficient information to calculate true widths. However, drill holes have been drilled to cross interpreted mineralized zones as close to perpendicular as possible.

3.

Intervals are calculated with the assumptions of > 0.5 g/t and < 3m of internal waste and displayed as weighted averages.

4.

Includes results from Diamond and RC drilling.

Qualified Person and QA/QC

Chris Pettman P.Geo, Vice President Exploration of Galiano, is a Qualified Person as defined by Canadian NI 43-101 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 Gold 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 analysed by Intertek Minerals Ltd. in Tarkwa, Ghana with standard preparation methods and 50g fire assay with atomic absorption finish. Intertek Minerals Ltd. does their 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’s vision is to build a sustainable business capable of long-term value creation for its stakeholders through a combination of exploration, accretive M&A activities and the disciplined deployment of its financial resources. The Company currently operates and manages the Asanko Gold Mine, located in Ghana, West Africa which is jointly owned with Gold Fields Ltd. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for 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 future mining at Nkran including with respect to the nature and extent of possible pit designs and the commencement of mining or further mining; the declaration of an updated Mineral Resource estimate and the timing thereof; the expected results of the exploration program (including its ability to provide the confidence for undertaking a resource estimate and further engineering studies) and the nature and timing of future exploration programs; the ability of future exploration programs to provide the basis for future mineral resources, including the timing for the declaration of such mineral resources; and information regarding planned future exploration, drilling and mining. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: the exploration program proceeding as anticipated; the exploration program achieving the targets and milestones included therein in the manner and on the timelines anticipated therein; the nature of drilling and exploration targets conforming to current expectations; the Company’s updated mineral resource estimate and life of mine plan proceeding as currently anticipated; mining proceeding as currently anticipated; the Company proceeding with further exploration programs as currently anticipated; that future exploration programs will provide the basis for future mineral resources; that the Joint Venture approves the Company’s exploration budget; the ability of the AGM to continue to operate during the COVID-19 pandemic; that gold production and other activities will not be curtailed as a result of the COVID-19 pandemic; that the AGM will be able to continue to ship doré from the AGM site to be refined; that the doré produced by the AGM will continue to be able to be refined at similar rates and costs to the AGM, or at all; that the Company’s and the AGM’s responses to the COVID-19 pandemic will be effective in continuing its operations in the ordinary course; the accuracy of the estimates and assumptions underlying Mineral Resource and Mineral Reserve estimates and prior exploration results, including future gold prices, cut-off grades and production and processing estimates; the successful completion of development and exploration projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; that mineral resources can be developed as planned; that the Company’s relationship with joint venture partners will continue to be positive and beneficial to the Company; that required financing and permits will be obtained; general economic conditions; that labour disputes or disruptions, flooding, ground instability, geotechnical failure, fire, failure of plant, equipment or processes to operate are as anticipated and other risks of the mining industry will not be encountered; that contracted parties provide goods or services in a timely manner; that there is no material adverse change in the price of gold or other metals; title to mineral properties; costs; the retention of the Company’s key personnel; and changes in laws, rules and regulations applicable to Galiano.

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: that the results of the Company’s exploration programs will not conform with the Company’s expectations, and will not be sufficient to support mineral resources or mineral reserves at the AGM or be sufficient to include in the Company’s updated life of mine plan; the Company’s expectations; that the Company may not undertake planned future mining or exploration, or that such future mining or exploration will not be sufficient to support mineral resources or mineral reserves at the AGM; that the JV will approve the Company’s proposed exploration and mining programs; the Company’s and/or the AGM’s operations may be curtailed or halted entirely as a result of the COVID-19 pandemic, whether as a result of governmental or regulatory law or pronouncement, or otherwise; that the doré produced at the AGM may not be able to be refined at expected levels, on expected terms or at all; that the Company and/or the AGM will experience increased operating costs as a result of the COVID-19 pandemic; that the AGM may not be able to source necessary inputs on commercially reasonable terms, or at all; the Company’s and the AGM’s responses to the COVID-19 pandemic may not be successful in continuing its operations in the ordinary course; 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; 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; 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 operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; 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; 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 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; the Company’s properties may be subject to claims by various community stakeholders; risks related to limited access to infrastructure and water; the Company’s exploration programs may not successfully expand its current mineral reserves or replace them with new reserves; 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; and the Company’s primary asset is held through a joint venture, which exposes the Company to risks inherent to joint ventures, including disagreements with joint venture partners and similar risks. 

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

Cautionary Note to US Investors Regarding Mineral Reporting Standards:
As a British Columbia corporation and a “reporting issuer” under Canadian securities laws, the Company is required to provide disclosure regarding its mineral properties, including the AGM, in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. In accordance with NI 43-101, the Company uses the terms mineral reserves and resources as they are defined in accordance with the CIM Definition Standards on mineral reserves and resources (the “CIM Definition Standards”) adopted by the Canadian Institute of Mining, Metallurgy and Petroleum. In particular, the terms “mineral reserve”, “proven mineral reserve”, “probable mineral reserve”, “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” used in this press release are Canadian mining terms defined in accordance with CIM Definition Standards. These definitions differ from the definitions in the disclosure requirements promulgated by the SEC. Accordingly, information contained in this press release may not be comparable to similar information made public by U.S. companies reporting pursuant to SEC disclosure requirements.

United States investors are also cautioned that while the SEC will now recognize “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”, investors should not assume that any part or all of the mineralization in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. Mineralization described using these terms has a greater amount of uncertainty as to their existence and feasibility than mineralization that has been characterized as reserves. Accordingly, investors are cautioned not to assume that any “measured mineral resources”, “indicated mineral resources”, or “inferred mineral resources” that the Company reports are or will be economically or legally mineable.

Further, “inferred resources” have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist. In accordance with Canadian rules, estimates of “inferred mineral resources” cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101. 

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

SOURCE Galiano Gold Inc.

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