Galiano Gold awarded mining contract

Galiano Gold is pleased to announce the company has awarded a mining contract as it progresses towards the resumption of hard rock mining operations in the fourth quarter at its Asanko Gold Mine, located in the Asankrangwa gold belt in Ghana. The AGM is a 50/50 Joint Venture with Gold Fields Ltd., which is managed and operated by Galiano. All figures are stated in US dollars unless otherwise stated. The company published the details of a new life of mine plan on March 28, 2023. The report titled “NI 43-101 Technical Report and Feasibility Study for Asanko Gold Mine, Ghana” with an effective date of December 31, 2022 describes an 8.5-year mine life with a robust after-tax net present value at a 5% discount rate of $343M (using $1,700 per ounce gold). Annual gold production approximately doubles from the 2023 guidance of 100,000 – 120,000 ounces to 250,000 ounces per year from 2025.