Galileo Mining (GAL) Q1 2026 TU earnings summary

Executive summary

• Maintained a strong financial position with $8.75 million in cash as of 30 September 2025, supporting ongoing exploration programs.

• Significant progress at the Norseman project, with aircore drilling confirming robust palladium, platinum, and gold mineralisation over a 10km strike at Mission Sill.

• Board change with the resignation of a Non-Executive Director; no immediate replacement planned.

Financial highlights

• Exploration and evaluation expenditure for the quarter was $895,000.

• No substantive mining production or development activities during the quarter.

• Payments to related parties totaled $200,000 for salaries, superannuation, and consulting fees.

Outlook and guidance

• Next phase of RC drilling at Mission Sill and Callisto Deeps is scheduled to commence in late October, targeting high-potential zones.

• EIS funding of up to $180,000 awarded for deep drilling beneath the Callisto Deposit, with RC drilling to test to approximately 600m downhole.

• Further work at Fraser Range contingent on ongoing data interpretation and petrography results.