About Galiano Gold

Galiano Gold Inc. (Galiano) engages in the exploration, development, and production of gold properties. The company's principal business activity is the operation of the AGM through the JV (joint venture arrangement) associated with the company's 45% equity interest in the AGM and exploration and development of the JV's mineral property interests, located on the Asankrangwa gold belt in Ghana. In addition to its interest in the AGM, the company holds the 100% owned Asumura property in Ghana. The company's principal asset is its interest in the JV, which owns the AGM located in Ghana, West Africa. The company holds its 45% interest in the AGM through a 50:50 joint venture arrangement stemming from the completion of the JV formation transaction on July 31, 2018. The company is the operator and manager of the JV. The AGM consists of four main open-pit mining areas: Abore, Miradani North, Nkran and Esaase. The mine has been developed in phases. The first phase comprised the construction of a 3 Mtpa CIL ore processing facility and bringing the first pit, Nkran, into production (‘Phase 1’). The second phase comprised bringing the Esaase pit into production and increasing the capacity of the processing plant to 5.4Mtpa. On March 29, 2022, the company announced that it would be temporarily deferring mining operations and transitioning to processing existing stockpiles, while technical work to support a mineral reserve at the AGM was ongoing. Mining continued at Akwasiso Cut 3 and Esaase Cut 3 until their depletion later in 2022. The process plant continued to operate at full capacity (5.8 Mtpa) throughout the year, processing a portion of the existing 9.5 Mt of stockpiles to supplement periods when mined material was unavailable. Mineral Properties The Asanko Gold Mine (AGM) The AGM is operated in a 50:50 joint venture with Gold Fields Limited. The AGM concessions are owned 100% by Asanko Gold Ghana Limited (‘AGGL’). AGGL holds seven mining leases, nine prospecting licences and one reconnaissance licence which collectively make up the AGM property and span over a 40 km length of the Asankrangwa gold belt. The AGM is made up of a series of contiguous concessions in the Obotan and Esaase area. These concessions cover a total area of 476 km2. AGM's strategy is to conduct drilling sufficient to assume geology and grade continuity to a level to support at least Indicated Mineral Resources and thus support the application of modifying factors in sufficient detail to support mine planning and evaluation of economic viability. The main producing mine in the area was the Obotan Mine (now Nkran Mine). The AGM deposits are located within the Kumasi Basin. History The company was founded in 1999. It was incorporated in 1999 under the Business Corporations Act (British Columbia). The company was formerly known as Asanko Gold Inc. and changed its name to Galiano Gold Inc. in 2020.