Galileo Mining (GAL) Q1 2025 TU earnings summary

Executive summary

• Maintained strong funding with $12 million in cash as of 30 September 2024, supporting ongoing exploration programs.

• Completed a 2,100m RC drill campaign at Norseman, identifying prospective palladium-platinum zones near the Callisto resource.

• Scheduled a 5,000m aircore drill program at Mission Sill for November 2024 to test a 10km untested strike zone.

• Fraser Range JV drill testing is planned for the first half of 2025, following completion of EM surveys and target selection.

Financial highlights

• Cash position stood at $12 million at quarter-end, ensuring full funding for planned exploration.

• Exploration and evaluation expenditure for the quarter was $997,000.

• Payments to related parties totaled $243,000 for the quarter, covering director and consulting fees.

Outlook and guidance

• November 2024 aircore drilling at Mission Sill will target multiple positions along a 10km strike for palladium, platinum, and nickel.

• Fraser Range JV drilling is scheduled for the first half of 2025, focusing on new nickel targets.

• Ongoing mapping and geochemical analysis continue to identify new high-priority targets.