New Mining Lease Application Submitted By Great Southern Nickel

A new Mining Lease Application has been submitted by Great Southern Nickel Pty Ltd, a Creasy Group entity, in the Fraser Range province of Western Australia. The application covers 6,135 Hectares of the western section of underlying exploration license E28/2065.

Galileo subsidiary company NSZ has a Joint Venture (JV) with Great Southern Nickel Pty Ltd over separate tenement E28/2064 in the Fraser Range. The JV tenement is approximately 50km along strike from the new MLA. The location of the MLA and Galileo’s Fraser Range tenements are shown in Figure 1.

Galileo Managing Director Brad Underwood said that while details of the mineralisation subject to the MLA are not yet publicly available, and that it does not relate to one of the Company’s JV tenements, it is expected that the application itself will be of significant interest to Galileo shareholders given the Company’s interests in the Fraser Range region.

Galileo Managing Director Brad Underwood commented:

“Creasy Group companies have been active for many years in the Fraser Range with publicly available DMIRS data showing substantial exploration expenditure over a long period. To be at a stage where a Mining Lease Application can be submitted under the Western Australian Mining Act implies that economic mineralisation has been reported.”

“While we remain focussed on our Norseman Cobalt Project, Galileo is very pleased to have Fraser Range exploration tenements in Joint Venture with the Creasy Group. Our shareholders can look forward to Galileo progressing exploration at our Fraser Range prospects over the coming months.”

Galileo’s Fraser Range Project comprises four granted exploration licenses covering 492km2. Tenement E28/2064 is in a 67/33% JV between NSZ Resources Pty Ltd (NSZ) and Great Southern Nickel Pty Ltd.

Tenements E63/1539, E63/1623 and E63/1624 are in a 67/33% JV between FSZ Resources Pty Ltd (FSZ) and Dunstan Holdings Pty Ltd. NSZ and FSZ are wholly owned subsidiaries of Galileo. Great Southern Nickel Pty Ltd and Dunstan Holdings Pty Ltd are entities of Mark Creasy.