MAIDEN DRILLING PROGRAMS UNDERWAY AT THE NORSEMAN COBALT PROJECT

Highlights:

Galileo Mining has advised that drilling is underway at the Norseman Cobalt Project with two rigs currently on site. A diamond drill rig is focussed on drilling within the known resource mineralisation to provide high quality core sample for metallurgical test work. A second Reverse Circulation (RC) drilling rig is on site targeting new areas prospective for additional cobalt mineralisation.

Galileo Managing Director Brad Underwood said that the initial drilling programs demonstrated the Company’s desire to progress the development of the Norseman Cobalt Project through a comprehensive metallurgical test work program and by targeting an increase in the resource base through additional discoveries

“Our ability to get on the ground within four weeks of listing is a good result and our shareholders can expect to see drill assays flow through to the market from next month,” Mr Underwood said.

“The successful IPO has put us in a great position to capitalise on the growing demand for cobalt. We aim to increase our resource base and will invest significant time and effort into targeting the discovery of further cobalt ore bodies.”

Technical Director Noel O’Brien commented that “The initial diamond drilling program will provide Galileo with a large amount of quality samples to use for metallurgical test work. This work will be conducted at a Perth laboratory with world class facilities and we expect to successfully characterise the cobalt ore, particularly with a view to pre-concentration ahead of metal recoveries using conventional technology.”

Diamond drilling for metallurgical test work is wholly within the known JORC resource at Norseman with drill holes designed to collect samples from a variety of locations. This will provide an understanding of ore variability which can then be used to assess the most effective way to mine and process the ore.

An initial 5,000 metre program of RC drilling has commenced with up to 15,000 metres to be completed on a campaign basis over the coming months. Conducting drilling on a sequential program by program basis provides the Company with the flexibility to amend programs as results dictate. Should drilling be successful at delineating additional mineralisation then future programs will concentrate on advancing any discoveries to a stage where JORC compliant resource estimation can be undertaken.