Overview of Galileo Mining's recent activities and financial position

Galileo Mining (ASX: $GAL) has reported a successful quarter with approximately $10 million in cash as of 31st March 2024, enabling the company to continue its exploration strategy. The company has made significant progress in its Norseman project, particularly at the North Callisto prospect, and is well-positioned to undertake all planned drilling and exploration programs.

Executive commentary on recent activities and future plans

It was an eventful quarter for Galileo where we progressed our exploration strategy which we strongly believe provides us with the best opportunity to make future discoveries. The first three lines of our 2024 IP survey program at North Callisto were completed during the quarter with a further nine lines undertaken. These IP lines are critical for the development of drill targets. Modelling of these first three lines has been successful, confirming strong chargeable anomalies close to known mineralisation - between one and five kilometres from the 17.5Mt Callisto resource - and which are now ready for drill testing. Importantly these latest drill targets are significant as they are based on IP surveying which is specifically designed to look for disseminated sulphide, and on geological mapping which confirms the existence of the same rock sequence which hosts the Callisto deposit. We are now very much looking forward to drill testing with our first RC drill program for 2024 having commenced in late April. In addition, we are continuing with IP surveying over the underexplored 20km strike length around the Callisto deposit to develop new targets for further drill programs later in the year. We look forward to updating investors as we progress the next round of drilling and as we aim to progress the development of a new mineral field in Western Australia.

Summary of Galileo Mining's activities and outlook

Galileo Mining (ASX: $GAL) has made significant progress in its exploration activities, particularly at the North Callisto prospect in the Norseman project. The successful completion of the IP survey program has confirmed strong chargeable anomalies close to known mineralisation, paving the way for drill testing. The company's well-funded position of approximately $10 million in cash provides a secure foundation for its planned drilling and exploration programs. With the commencement of the first RC drill program in late April 2024, Galileo Mining is poised to further its exploration efforts and aims to develop a new mineral field in Western Australia. Additionally, the company's Fraser Range project continues to progress, with regional EM surveying completed to define new undercover nickel targets for drill testing. Galileo Mining remains focused on the exploration and development of PGE, nickel, copper, and cobalt resources, and is well-positioned for future discoveries.