VANCOUVER, BC, Aug. 13, 2025 /PRNewswire/ - Galiano Gold Inc. ("Galiano" or the "Company") (TSX: GAU) (NYSE American: GAU) is pleased to report its second quarter ("Q2") 2025 operating and financial results. Galiano owns a 90% interest in the Asanko Gold Mine ("AGM") located on the Asankrangwa Gold Belt in the Republic of Ghana, West Africa.

All financial information contained in this news release is unaudited and reported in United States dollars.

Safety

   -- No lost-time injuries ("LTI") nor total recordable injuries (inclusive of 
      LTIs) ("TRI") recorded during Q2 2025. 
 
   -- 12--month rolling LTI and TRI frequency rates as of June 30, 2025 of 0.42 
      and 0.97 per million hours worked, respectively. 

Mining

   -- Mining activities focused on the Abore and Esaase deposits with 1.4 
      million tonnes ("Mt") of ore mined at an average mined grade of 0.8 grams 
      per tonne ("g/t") gold and a strip ratio of 5.9:1 during Q2 2025. 
 
   -- Development of Cut 3 at the Nkran deposit continued to ramp up with 1.7 
      Mt of waste mined during the quarter, a 113% increase compared to Q1 
      2025. 

Processing

   -- 1.2 Mt of ore was milled at an average feed grade of 0.8 g/t gold, with 
      metallurgical recovery averaging 89% during Q2 2025. 
 
   -- Secondary crushing circuit was completed on budget and commissioned at 
      the end of July 2025. Processing plant milling capacity is now expected 
      to return to a 5.8 Mt per annum throughput rate. 
 
   -- Produced 30,350 ounces of gold during the quarter, a 46% increase 
      compared to Q1 2025. 51,084 ounces of gold produced year-to-date. 
 
   -- Sold 29,287 ounces of gold during the quarter and 56,281 ounces of gold 
      year-to-date at average realized prices of a quarterly record $3,317 per 
      ounce ("/oz") and $3,084/oz, respectively, excluding the effect of 
      realized losses on gold hedging instruments. 

Cost and capital expenditures

   -- Total cash costs1 of $1,602/oz and all-in sustaining costs1 ("AISC") of 
      $2,251/oz for the quarter (year-to-date AISC1 of $2,339/oz). AISC1 
      declined by 10% compared to Q1 2025. 
 
   -- Sustaining capital expenditures, excluding capitalized stripping costs, 
      of $2.2 million and development capital expenditures (excluding Nkran 
      pre-stripping costs) of $4.9 million during Q2 2025. 
 
   -- Capitalized development pre-stripping costs at Nkran Cut 3 of $6.9 
      million during Q2 2025, and $10.1 million year-to-date. 
 
_________________________ 
(1) See section "Non-IFRS Performance Measures" of this news release. 
 

Financial

   -- Cash and cash equivalents of $114.7 million at June 30, 2025, and no 
      debt. 
 
   -- Generated cash flow from operating activities of $35.8 million during Q2 
      2025. 
 
   -- Income from mine operations of $37.2 million during Q2 2025. 
 
   -- Net income of $0.07 per common share and adjusted net income1 of $0.08 
      per common share during Q2 2025. 
 
   -- Adjusted EBITDA1 (as defined herein) of $39.9 million during Q2 2025. 

Exploration

   -- A deep step-out drilling program at the Abore deposit, totaling 1,907m 
      across a 1,200m strike length, yielded positive results with 
      mineralization intercepted in all four holes, including 36m at 2.5 g/t 
      gold (refer to news release dated July 14, 2025). 

"We are pleased with the progress made during the period with production, all-in sustaining costs, earnings per share, and cash balances all improving quarter-on-quarter. This momentum, in combination with the commissioning of the secondary crusher ahead of schedule in late July, positions us well for a strong second half of the year," said Matt Badylak, Galiano's President and Chief Executive Officer. "The results from our Abore deep drilling program confirm the presence of a mineralized system 200 metres below the current Mineral Reserve over a significant 1,200 metre strike length. These findings highlight the expansion potential at Abore and provide additional exploration targets to unlock further value beneath our existing reserves."

SUMMARY OF QUARTERLY OPERATIONAL AND FINANCIAL HIGHLIGHTS

 
                                   Q2 2025  Q1 2025  Q4 2024  Q3 2024  Q2 2024 
---------------------------------  -------  -------  -------  -------  ------- 
Health and safety 
------------------------------------------------------------------------------ 
LTIs                                     -        2        1        -        - 
12-month rolling LTI frequency 
 rate                                 0.42     0.43     0.15     0.00     0.15 
---------------------------------  -------  -------  -------  -------  ------- 
Mining 
                                   -------  -------  -------  -------  ------- 
Ore mined ('000t)                    1,365    1,296      531      670      467 
Waste mined ('000t)                  9,824    9,124    8,698    9,726    7,427 
Strip ratio (W:O)                      7.2      7.0     16.4     14.5     15.9 
Average gold grade mined (g/t)         0.8      0.8      1.0      1.1      1.0 
Mining cost ($/t mined) -- 
 total(1)                             3.65     3.36     3.41     3.52     2.98 
Mining cost ($/t mined) -- 
 producing(1)                         3.59     3.31     3.41     3.52     2.98 
Mining cost ($/t mined) -- 
 development(1)                       4.00     3.98        -        -        - 
Ore tonnes trucked ('000 t)          1,030    1,053      685      665      503 
Ore transportation cost ($/t 
 trucked)                             4.49     4.43     4.75     4.56     5.71 
---------------------------------  -------  -------  -------  -------  ------- 
Processing 
---------------------------------  -------  -------  -------  -------  ------- 
Ore milled ('000t)                   1,193    1,086    1,179    1,162    1,336 
Average mill head grade (g/t)          0.8      0.8      0.9      0.9      0.7 
Average recovery rate (%)               89       87       85       91       82 
Processing cost ($/t milled)         12.89    14.37    15.84    12.49    11.18 
General and administrative cost 
 ($/t milled)                         6.24     5.78     6.28     5.74     5.13 
Gold produced (oz)                  30,350   20,734   28,508   29,784   26,437 
---------------------------------  -------  -------  -------  -------  ------- 
Capital expenditures 
------------------------------------------------------------------------------ 
Sustaining capital ($m)                2.2      1.3      0.8      0.8      0.6 
Development capital ($m)               4.9      3.3      2.0      4.0      2.3 
Development pre-stripping capital 
 ($m)                                  6.9      3.2        -        -        - 
---------------------------------  -------  -------  -------  -------  ------- 
Financial, costs and cash flow 
---------------------------------  -------  -------  -------  -------  ------- 
Revenue ($m)                          97.3     76.6     64.6     71.1     64.0 
Gold sold (oz)                      29,287   26,994   24,673   29,014   27,830 
Average realized gold price 
 ($/oz)                              3,317    2,833    2,609    2,446    2,292 
AISC ($/oz sold)(2)                  2,251    2,501    2,638    2,161    1,759 
Income from mine operations ($m)      37.2     15.4     21.8     26.4     23.6 
Cash flow from operating 
 activities ($m)                      35.8     25.9     13.8     24.4      4.5 
Free cash flow ($m)(2)                 5.6      0.7    (3.1)    (1.6)    (9.7) 
Adjusted net income ($m)(2)           21.1      3.4      5.1     17.7      7.3 
Adjusted EBITDA ($m)(2)               39.9     19.0     21.2     25.6     16.2 
---------------------------------  -------  -------  -------  -------  ------- 
 
 
(1) Total mining cost per tonne includes total mining costs for all producing 
deposits (i.e. Abore and Esaase) and deposits in development (i.e Nkran). 
Producing mining cost per tonne reflects unit mining rates at the Abore and 
Esaase deposits combined, while development mining cost per tonne reflects 
unit mining rates at the Nkran deposit only. 
(2) Refer to section "Non-IFRS Performance Measures" of this news release. 
 

Mining

   -- Development of the Abore pit continued during Q2 2025 with mined ore 
      totaling 0.8 Mt, an increase of 18% from Q1 2025, at an average grade of 
      0.9 g/t gold. The strip ratio at Abore was 6.2:1, a decrease of 17% from 
      Q1 2025. 
 
   -- Continued mining operations at the Esaase deposit with mined ore totaling 
      0.5 Mt at an average grade of 0.7 g/t gold and a strip ratio of 5.5:1. 
 
   -- Mining cost per tonne at Abore and Esaase averaged $3.59 per tonne ("/t") 
      in Q2 2025 compared to $2.98/t in Q2 2024 at Abore only. The increase in 
      mining unit rates was due to higher load and haul costs associated with 
      mining deeper benches, as well as higher drill and blast costs resulting 
      from mining a higher proportion of fresh granite ore at Abore. 
 
   -- Continued with waste stripping of Cut 3 at the Nkran deposit with 1.7 Mt 
      of waste rock mined during Q2 2025, an increase of 113% from Q1 2025. 
      Mined volumes at Nkran are expected to gradually increase as the mining 
      contractor continues to mobilize most of its mining fleet over the 
      remainder of this year. 
 
   -- At Nkran, mining cost per tonne was $4.00 for Q2 2025, which included an 
      allocation of general overhead costs. Nkran waste stripping costs were 
      capitalized as development capital expenditures during the quarter. 

Processing

   -- The AGM produced 30,350 ounces of gold during Q2 2025, an increase of 46% 
      from Q1 2025, as the processing plant milled 1.2 Mt of ore at an average 
      grade of 0.8 g/t gold with metallurgical recovery averaging 89%. The 
      increase in gold production was driven by higher plant availability, 
      following the 14-day maintenance shutdown in Q1 2025, resulting in 10% 
      more tonnes milled in Q2 2025. Gold production in Q2 2025 was also 
      positively impacted by the high gold-in-process inventory balance that 
      existed at the end of Q1 2025. 
 
   -- Gold production during Q2 2025 continued to be impacted by lower milling 
      rates, as harder mined ore from Abore required additional crushing and 
      grinding, compared to softer ore from Esaase that was the primary mill 
      feed source in Q2 2024. The AGM remains on track to meet the lower end of 
      the production guidance range of 130,000 to 150,000 ounces of gold in 
      2025. 
 
   -- The construction of a permanent secondary crushing circuit at the AGM 
      processing plant was completed at the end of July 2025. As of the date of 
      this news release, the secondary crushing circuit is ramping up to full 
      capability. The objective of the secondary crushing circuit is to 
      maintain plant throughput at the design capacity of 5.8 Mt per annum when 
      treating harder ore. 
 
   -- Processing cost per tonne for Q2 2025 was $12.89, a 10% decrease from Q1 
      2025. On an absolute basis, processing costs were consistent 
      quarter-on-quarter. The decrease in processing cost per tonne in Q2 2025 
      was driven by 10% more tonnes milled, which decreased fixed processing 
      costs on a per unit basis. 

Capital Expenditures

   -- Sustaining capital expenditures during Q2 2025 totaled $2.2 million and 
      related primarily to a tailings facility expansion. 
 
   -- Development capital expenditures, excluding Nkran pre-stripping costs, 
      during Q2 2025 totaled $4.9 million and related primarily to construction 
      of the now completed secondary crushing circuit. 
 
   -- $6.9 million in development pre-stripping costs were incurred at the 
      Nkran deposit related to Cut 3 waste removal and initial site 
      establishment costs. 

Costs

   -- AISC1 for Q2 2025 was $2,251/oz, compared to $1,759/oz in the comparative 
      period. The increase in AlSC1 was primarily driven by higher capitalized 
      stripping costs at the Abore and Esaase deposits and higher royalties 
      expense relative to Q2 2024. Also, during Q2 2024, low grade stockpiled 
      ore was processed that had no accounting book value and, as such, had no 
      mining cost attributed to it, which resulted in lower operating costs in 
      the comparative quarter. 
 
   -- Relative to Q1 2025, AISC1 decreased by 10% in Q2 2025 due to 8% higher 
      gold sales volumes. 
 
   -- The Company expects AISC1 for FY 2025 at the higher end of its guidance 
      range due to production expectations at the lower end of the guidance 
      range. In addition, there have been several factors outside of the 
      Company's control that impact the Company's reported AISC1. Higher 
      royalties resulting from higher realized gold prices and the increase to 
      the Growth and Sustainability Levy ("GSL") from 1% to 3% effective April 
      1, 2025, are estimated to impact FY 2025 AISC1 by approximately a further 
      $100/oz (at the current spot gold price). Furthermore, the rapid 
      appreciation of the Ghanaian Cedi against the US dollar during Q2 2025 
      adds further upward pressure on AISC1, if sustained over the remainder of 
      2025. 

Exploration

   -- Infill drilling completed at the Abore deposit led to discovery of a new 
      high-grade zone immediately below the mineral reserve pit shell at the 
      south end of the Abore Main pit, including 50 meters ("m") at 3.2 g/t 
      gold (refer to news release dated May 5, 2025). The infill drilling also 
      increased confidence in the mineral reserve and mineral resource in the 
      area in and around the known high-grade zone at the Abore South pit, 
      while also increasing the strike length of this zone from 90m to 180m. 
 
   -- Positive results from a deep step-out drilling program at the Abore 
      deposit, totaling 1,907m across a 1,200m strike length, with 
      mineralization intercepted in all four holes, including 36m at 2.5 g/t 
      gold (refer to news release dated July 14, 2025). The program confirmed 
      the Abore granite and mineralizing system continues 200m below the 
      current Mineral Reserve pit shell over a strike length of at least 1,200m, 
      remains open in all directions and appears to carry sufficient grades and 
      widths below the current Mineral Reserve pit shell to support the 
      potential development of bulk underground mining. 

CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE THREE MONTHS ENDED JUNE 30, 2025 AND 2024

 
                                                   Three months ended June 30, 
(All amounts in 000's of US dollars, unless 
otherwise stated)                                          2025           2024 
-----------------------------------------------  --------------  ------------- 
Revenue                                                  97,304         63,963 
Income from mine operations                              37,162         23,581 
Net income attributable to common shareholders           19,326          7,280 
Net income per share attributable to common 
 shareholders                                              0.07           0.03 
 
Adjusted net income attributable to common 
 shareholders(1)                                         21,133          8,805 
Adjusted net income per share attributable to 
 common shareholders(1)                                    0.08           0.03 
Adjusted EBITDA(1)                                       39,850         16,202 
 
Cash and cash equivalents                               114,681        123,039 
Cash generated from operating activities                 35,814          4,463 
-----------------------------------------------  --------------  ------------- 
 
   -- The Company sold 29,287 ounces of gold in Q2 2025 at a quarterly record 
      average realized gold price of $3,317/oz for total revenue of $97.3 
      million. The increase in revenue from the comparative period was due to a 
      45% increase in realized prices and a 5% increase in gold ounces sold. 
 
   -- Income from mine operations for Q2 2025 totaled $37.2 million, compared 
      to $23.6 million in Q2 2024. The increase in income from mine operations 
      was due to higher revenues as described above. This was partly offset by 
      higher depreciation expense on mining leases and higher depletion expense 
      on Abore and Essase deferred stripping costs during Q2 2025. Royalties 
      expense was also higher in Q2 2025 due to higher earned revenues and the 
      increase to the GSL from 1% to 3% effective April 1, 2025. 
 
   -- The Company reported net income attributable to common shareholders of 
      $19.3 million in Q2 2025, compared to $7.3 million in Q2 2024. The 
      increase in net income during Q2 2025 was primarily due to the increase 
      in income from mine operations as described above, and partly offset by 
      an increase in finance expense related to realized and unrealized losses 
      on the Company's gold hedging derivatives. 
 
   -- Reported Adjusted EBITDA1 of $39.9 million in Q2 2025, compared to $16.2 
      million in Q2 2024. The increase in Adjusted EBITDA1 was primarily driven 
      by higher revenues, partly offset by higher royalties as described above. 
 
   -- The Company generated $35.8 million of cash flow from operating 
      activities in Q2 2025, compared to $4.5 million in Q2 2024. The increase 
      in operating cash flow was primarily driven by higher realized gold 
      prices during Q2 2025. 
 
   -- As of June 30, 2025, the Company had cash and cash equivalents of $114.7 
      million and no debt. 

CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024

 
                                                     Six months ended June 30, 
(All amounts in 000's of US dollars, unless 
otherwise stated)                                           2025          2024 
-------------------------------------------------                 ------------ 
Revenue                                                  173,894        95,658 
Income from mine operations                               52,522        29,778 
Net (loss) income attributable to common 
 shareholders                                            (7,480)         4,072 
Net (loss) income per share attributable to 
 common shareholders                                      (0.03)          0.02 
 
Adjusted net income attributable to common 
 shareholders(1)                                          24,543        19,376 
Adjusted net income per share attributable to 
 common shareholders(1)                                     0.10          0.08 
Adjusted EBITDA(1)                                        58,875        21,105 
 
Cash and cash equivalents                                114,681       123,039 
Cash generated from operating activities                  61,706        17,491 
-------------------------------------------------  -------------  ------------ 
 
   -- The Company sold 56,281 ounces of gold during the six months ended June 
      30, 2025 at an average realized gold price of $3,084/oz for total revenue 
      of $173.9 million. The increase in revenue from the comparative period 
      was due to a 38% increase in realized prices and 32% increase in gold 
      ounces sold. 
 
   -- Income from mine operations for the six months ended June 30, 2025 
      totaled $52.5 million, compared to $29.8 million in the comparative 
      period of 2024. The increase in income from mine operations was due to 

      the increase in revenue as described above and the Company only 
      consolidating the financial results of the AGM from March 4, 2024 to June 
      30, 2024 in the comparative period. These factors were partly offset by 
      higher depreciation and depletion expense and royalties in 2025. 
 
   -- The Company reported a net loss attributable to common shareholders of 
      $7.5 million for the six months ended June 30, 2025, compared to net 
      income of $4.1 million in the comparative period of 2024. The decrease in 
      net income was primarily driven by higher realized and unrealized losses 
      on gold hedging instruments in 2025. This was partly offset by the 
      Company consolidating a full six months of financial results of the AGM 
      in 2025. 
 
   -- Reported Adjusted EBITDA1 of $58.9 million during the six months ended 
      June 30, 2025, compared to $21.1 million in the comparative period of 
      2024. The increase in Adjusted EBITDA1 was driven by higher realized gold 
      prices and the Company consolidating a full six months of financial 
      results of the AGM in 2025. 
 
   -- The Company generated $61.7 million of cash flow from operating 
      activities during the six months ended June 30, 2025, compared to $17.5 
      million in the comparative period of 2024. The increase in cash flow from 
      operations was driven by higher realized gold prices and the Company 
      consolidating a full six months of financial results of the AGM in 2025. 
 
 This news release should be read in conjunction with Galiano's Management's 
   Discussion and Analysis and the Unaudited Condensed Consolidated Interim 
  Financial Statements for the three and six months ended June 30, 2025 and 
    2024, which are available at www.galianogold.com and filed on SEDAR+. 
------------------------------------------------------------------------------ 
 

(1) Non-IFRS Performance Measures

The Company has included certain non-IFRS performance measures in this news release. These non-IFRS performance measures do not have any standardized meaning and therefore may not be comparable to similar measures presented by other issuers. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Refer to the Non-IFRS Measures section of Galiano's Management's Discussion and Analysis for an explanation of these measures and reconciliations to the Company's reported financial results in accordance with IFRS.

   -- Total Cash Costs per Gold Ounce SoldManagement of the Company uses total 
      cash costs per gold ounce sold to monitor the operating performance of 
      the AGM. Total cash costs include the cost of production, adjusted for 
      by-product revenue and production royalties per ounce of gold sold. 
 
   -- AISC per Gold Ounce SoldThe Company has adopted the reporting of "AISC 
      per gold ounce sold". AISC include total cash costs, AGM general and 
      administrative expenses, sustaining capital expenditure, sustaining 
      capitalized stripping costs, reclamation cost accretion and lease 
      payments made on the AGM's mining and other service lease agreements per 
      ounce of gold sold. 
 
   -- EBITDA and Adjusted EBITDAEarnings before interest, taxes, depreciation 
      and amortization ("EBITDA") provides an indication of the Company's 
      continuing capacity to generate income from operations before taking into 
      account the Company's financing decisions and costs of amortizing capital 
      assets. Accordingly, EBITDA comprises net income (loss) excluding finance 
      expense, finance income, depreciation and depletion expense, and income 
      taxes. Adjusted EBITDA adjusts EBITDA to exclude non-recurring items and 
      non-cash items ("Adjusted EBITDA") and includes the calculated Adjusted 
      EBITDA of the AGM joint venture for periods prior to the consolidation of 
      its ownership. 
 
   -- Free cash flowThe Company believes that in addition to conventional 
      measures prepared in accordance with IFRS, management and certain 
      investors and analysts use free cash flow to evaluate the Company's 
      performance with respect to its operating cash flow capacity to meet 
      non-discretionary outflows of cash. The presentation of free cash flow is 
      not meant to be a substitute for the cash flow information presented in 
      accordance with IFRS, but rather should be evaluated in conjunction with 
      such IFRS measures. Free cash flow is calculated as cash flow from 
      operating activities, excluding one-time charges not indicative of 
      current period cash flow performance, less cash flows used in investing 
      activities and payments made to mining and service contractors for leases 
      capitalized under IFRS 16. 
 
   -- Adjusted net income (loss) and adjusted net income (loss) per common 
      shareThe Company has included the non-IFRS performance measures of 
      adjusted net income (loss) and adjusted net income (loss) per common 
      share. Neither adjusted net income (loss) nor adjusted net income (loss) 
      per share have any standardized meaning and are therefore unlikely to be 
      comparable to other measures presented by other issuers. Adjusted net 
      income (loss) excludes certain non-cash items or non-recurring items from 
      net income (loss) to provide a measure which helps the Company and 
      investors to evaluate the results of the underlying core operations of 
      the Company and its ability to generate cash flows and is an important 
      indicator of the strength of the Company's operations and performance of 
      its core business. 

Qualified Person

The exploration information contained in this news release has been reviewed and approved by Mr. Chris Pettman, P.Geo, Vice President Exploration of Galiano. All other scientific and technical information contained in this news release has been reviewed and approved by Mr. Amri Sinuhaji, P.Eng., Vice President Technical Services of Galiano. Mr. Pettman and Mr. Sinuhaji are "Qualified Persons" as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Conference Call

The Company will host a conference call and webcast to review the Q2 results on Thursday, Aug 14, 2025, at 7:30am PT.

 
Conference Call Details                Replay (available until Aug 21, 2025) 
Date:        Aug 14, 2025              Local:              289-819-1450 
Time:        10:30 AM ET (7:30 AM PT)  Toll Free:          1-888-660-6345 
Dial In:     437-900-0527              Access Code:        83510# 
Toll Free:   1-888-510-2154 
 

The conference call will be webcast https://app.webinar.net/DayQ6KvNKLJ and can be accessed on Galiano's website.

About Galiano Gold Inc.

Galiano is focused on creating a sustainable business capable of value creation for all stakeholders through production, exploration and disciplined deployment of its financial resources. The Company owns the Asanko Gold Mine, which is located in Ghana, West Africa. Galiano is committed to the highest standards for environmental management, social responsibility, and the health and safety of its employees and neighbouring communities. For more information, please visit www.galianogold.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements and information contained in this news release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which we refer to collectively as "forward-looking statements". Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.

Forward-looking statements in this news release include, but are not limited to: statements regarding the Company's operating plans for the AGM and timing thereof; expectations and timing with respect to current and planned drilling programs, including at Abore, and the results thereof; anticipated production and cost guidance; expectations regarding processing plant milling capacity; expectations regarding cash flows from operations; any additional work programs to be undertaken by the Company; potential exploration opportunities and statements regarding the usefulness and comparability of certain non-IFRS measures; and total cash costs and corresponding cost performance relating to the Company's activities. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: development plans and capital expenditures; the price of gold will not decline significantly or for a protracted period of time; the accuracy of the estimates and assumptions underlying mineral reserve and mineral resource estimates; the Company's ability to raise sufficient funds from future equity financings to support its operations, and general business and economic conditions; the global financial markets and general economic conditions will be stable and prosperous in the future; the AGM will not experience any significant uninsured production disruptions that would materially affect revenues; the ability of the Company to comply with applicable governmental regulations and standards; the mining laws, tax laws and other laws in Ghana applicable to the AGM will

not change, and there will be no imposition of additional exchange controls in Ghana; the success of the Company in implementing its development strategies and achieving its business objectives; the Company will have sufficient working capital necessary to sustain its operations on an ongoing basis and the Company will continue to have sufficient working capital to fund its operations; and the key personnel of the Company will continue their employment.

The foregoing list of assumptions cannot be considered exhaustive.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: the mineral reserve and mineral resource estimates may change and may prove to be inaccurate; life of mine estimates are based on a number of factors and assumptions and may prove to be incorrect; actual production, costs, returns and other economic and financial performance may vary from the Company's estimates in response to a variety of factors, many of which are not within the Company's control; inflationary pressures and the effects thereof; sustained increases in costs, or decreases in the availability, of commodities consumed or otherwise used by the Company may adversely affect the Company; adverse geotechnical and geological conditions (including geotechnical failures) may result in operating delays and lower throughput or recovery, closures or damage to mine infrastructure; the ability of the Company to treat the number of tonnes planned, recover valuable materials, remove deleterious materials and process gold as planned is dependent on a number of factors and assumptions which may not be present or occur as expected; risks related to artisanal and illegal mining activities at or near the AGM, including that the Company's mineral properties may experience a loss of ore, and the Company may experience lack of access to its mineral properties and other issues, due to illegal mining activities; the Company's operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; the ability of the Company to manage procurement risks, including securing timely and cost-effective equipment and services, and mitigate risks related to supplier performance, fraud, collusion, bribery, kickbacks and unethical procurement practices; outbreaks of infectious diseases may have a negative impact on global financial conditions, demand for commodities and supply chains and could adversely affect the Company's business, financial condition and results of operations and the market price of the common shares of the Company; the Company's operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; the Company may be unsuccessful in attracting and retaining key personnel; labour disruptions could adversely affect the Company's operations; metallurgical recoveries may not be economically viable or recoveries may be lower in the future and have a negative impact on the Company's gold production and financial results; the Company's business is subject to risks associated with operating in a foreign country; risks related to the Company's use of contractors; the hazards and risks normally encountered in the exploration, development and production of gold; the Company's operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the effects of climate change or extreme weather events may cause prolonged disruption to the delivery of essential commodities which could negatively affect production efficiency; the Company's operations and workforce are exposed to health and safety risks; unexpected costs and delays related to, or the failure of the Company to obtain, necessary permits could impede the Company's operations; the Company's title to exploration, development and mining interests can be uncertain and may be contested; geotechnical risks associated with the design and operation of a mine and related civil structures; the Company's properties may be subject to claims by various community stakeholders; risks related to limited access to infrastructure and water; risks associated with establishing new mining operations; the Company's revenues are dependent on the market prices for gold, which have recently experienced significant fluctuations; the Company may not be able to secure additional financing when needed or on acceptable terms; the Company's shareholders may be subject to future dilution; risks related to changes in interest rates and foreign currency exchange rates; changes to taxation laws applicable to the Company may affect the Company's profitability and ability to repatriate funds; risks related to the Company's internal controls over financial reporting and compliance with applicable accounting regulations and securities laws; risks related to information systems security threats; non-compliance with public disclosure obligations could have an adverse effect on the Company's share price; the carrying value of the Company's assets may change and these assets may be subject to impairment charges; risks associated with changes in reporting standards; the Company may be liable for uninsured or partially insured losses; the Company may be subject to litigation; damage to the Company's reputation could result in decreased investor confidence and increased challenges in developing and maintaining community relations which may have adverse effects on the business, results of operations and financial conditions of the Company and the Company's share price; the Company may be unsuccessful in identifying targets for acquisition or completing suitable corporate transactions, and any such transactions may not be beneficial to the Company or its shareholders; the Company must compete with other mining companies and individuals for mining interests; the Company's growth, future profitability and ability to obtain financing may be impacted by global financial conditions; the Company's common shares may experience price and trading volume volatility; the Company has never paid dividends and does not expect to do so in the foreseeable future; the Company's shareholders may be unable to sell significant quantities of the Company's common shares into the public trading markets without a significant reduction in the price of its common shares, or at all; and any such other risk factors described under the heading "Risk Factors" in the Company's Annual Information Form.

Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in, or incorporated by reference in, this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/galiano-gold-reports-second-quarter-2025-results-302529464.html

SOURCE Galiano Gold Inc.

(END) Dow Jones Newswires

August 13, 2025 17:14 ET (21:14 GMT)