Galiano Gold报告第一季度运营

和财务结果

温哥华，不列颠哥伦比亚省，2024年5月2日-Galiano Gold Inc.(以下简称“Galiano”或“公司”)(多伦多证券交易所，纽约证券交易所美国股票代码：GAU)欣然公布公司2024年第一季度(“Q1”)的经营和财务业绩。Galiano拥有位于西非加纳共和国Asankrangwa金矿带的Asanko金矿(“AGM”)90%的权益。

本新闻稿中包含的所有财务信息均未经审计，并以美元报告。

收购Gold Fields Limited在年度股东大会中45%的权益

于2024年3月4日，本公司完成先前宣布收购Gold Fields Limited于股东周年大会合营公司45%权益的收购(“收购”)。此次收购的战略理由是巩固西非最大金矿之一的年度股东大会的所有权，并将加利亚诺确立为一家不断增长、财务实力雄厚的黄金生产商。收购完成后，本公司拥有股东周年大会90%的权益，加纳政府继续持有10%的自由附带权益(非控股权益)。

公司从2024年3月4日开始合并年度股东大会的经营业绩、现金流和净资产。

Asanko金矿第一季度亮点(100%)：

年度股东大会的经营和财务结果已从2024年3月4日起并入公司。为清楚了解矿山资产水平的经营表现，于截至2024年3月31日止三个月内，于股东周年大会上100%呈列以下要点。

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¹见“8.非国际财务报告准则计量”

• 财务业绩：第一季度以每盎司2,056美元的平均实现价格出售了31,840盎司黄金，创造了6550万美元的黄金收入。净收益1,450万美元和调整后的EBITDA¹第一季度为2170万美元。

• 在岸上的增长：继2023年和2024年初在岸上成功实施加密钻井计划后，对岸上矿产资源估计的显著增加于2024年3月31日生效。上述测量和指示的矿产资源量增加了181,000盎司或38%。

• 勘探重点：计划的2024年勘探计划包括在Midras South钻探，以使矿床达到潜在的初步矿产储量估计，在Adubiaso进行加密钻探，在Target 3进行早期钻探测试，在Gyagyatreso进行延伸钻探。还设计了一项覆盖整个财产的侦察计划，以确定新的感兴趣的目标区域。

加利亚诺第一季度亮点：

• 强劲的流动资金：在根据收购条款向Gold Fields支付6500万美元后，该公司在本季度末拥有1.308亿美元的现金和现金等价物，没有债务。在截至2024年3月31日的三个月里，公司从运营中产生了1300万美元的现金流。

• 收益：第一季度净亏损480万美元，或每股普通股亏损0.02美元，其中包括从2024年3月4日起生效的年度股东大会财务业绩的合并。调整后净收益¹第一季度为650万美元，或每股普通股0.03美元。

加利亚诺总裁兼首席执行官马特·巴迪拉克表示：“2024年第一季度对公司来说是变革性的，收购了Gold Fields在年度股东大会上的权益。该团队还在ABORE取得了持续的勘探成功，并在我们的合并所有权下为年度股东大会制定了明确而专注的愿景。”我们正在跟踪我们的年度产量和成本指引，该矿本季度的产量略高于3万盎司。Abore所需的剥离工作仍在继续，虽然这一计划将持续到第二季度，但我们预计到第二季度末，将从库存加工过渡到更高品位的饲料到钢厂。

最近宣布的对ABORE矿产资源的升级38%，加上我们的矿藏的额外台阶和填充钻探，将用于更新第四季度年度股东大会矿藏的综合矿产储量估计和矿山寿命计划。该团队致力于通过始终如一地实现生产和成本目标、积极的勘探计划和优化的采矿计划来进一步创造价值，旨在提前实现矿山的现金流。“

Asanko金矿-季度运营和财务要点摘要(100%)

所有期间的经营和财务结果都是100%的，以便于与前几个季度进行比较。

Asanko金矿-截至2024年和2023年3月31日的三个月财务和运营要点（100%）

下表列出了截至2024年和2023年3月31日的三个月100%的年度股东大会运营和财务业绩摘录，以便将业绩与上一季度的比较期进行比较。

• 年度股东大会于2024年第一季度生产了30,386盎司黄金，因为加工厂实现了1.5公吨矿石的磨矿生产能力，品位为0.8克/吨，冶金回收率平均为83%。该季度的钢厂原料主要来自现有库存矿石。

• 2024年第一季度以平均实现黄金价格2,056美元/盎司的价格出售了31,840盎司黄金，总收入为6,560万美元(包括10万美元的副产品白银收入)，比2023年第一季度增加了40万美元。季度收入环比增长是由于已实现黄金价格较2023年第一季度增长11%，但销售量下降10%部分抵消了这一增长。

• 2024年第一季度来自矿山运营的收入总计2350万美元，而2023年第一季度为2470万美元。采矿业务收入减少的原因是资本化采矿服务租约折旧导致折旧和损耗费用增加210万美元，但生产成本减少120万美元部分抵消了这一增加。生产成本的下降主要是由于从Esaase到加工厂的卡车运输吨减少。

• 已报告的调整后EBITDA¹2024年第一季度为2170万美元，而2023年第一季度为2290万美元。调整后EBITDA的减少¹这主要是由于上述采矿业务收入减少所致。

• 现金总成本¹2024年第一季度为1,180美元/盎司，而2023年第一季度为1,083美元/盎司。现金总成本的增加¹主要由黄金销售量下降所带动，于2024年第一季度减少9%，并导致每盎司固定成本上升。

• 鞍钢¹2024年第一季度的价格为1,793美元/盎司，而同期为1,268美元/盎司。鞍钢¹本季度较高的主要原因是每盎司总现金成本增加¹如上所述，2024年第一季度售出的黄金盎司减少9%，持续资本支出增加(330美元/盎司)，主要与上岸矿床的废物剥离活动有关。此外，在2024年第一季度，支付给采矿承包商的租金每盎司高出90美元(包括利息支出)。

• 年度股东大会从经营活动和自由现金流中产生了2610万美元的现金流¹2024年第一季度为580万美元。相比之下，来自运营活动的现金流和自由现金流为1890万美元¹2023年第一季度1200万美元。自由现金流减少¹主要是由于与上述矿藏的废物剥离活动有关的资本支出增加，但被2024年第一季度实现的黄金价格上升部分抵消。

Galiano Gold Inc.-截至2024年3月31日和2023年3月31日的三个月的财务摘要。

• 该公司综合了2024年3月4日开始的年度股东大会的财务结果，确认了3170万美元的收入，这些收入与以平均实现金价2125美元/盎司出售的14,912金盎司有关。

• 该公司报告2024年第一季度净亏损480万美元，而2023年第一季度净收益为850万美元。2024年第一季度净收益减少是由于销售成本，包括对加工中黄金和现有黄金库存实现购买价格调整，总计1,030万美元；与公司股价挂钩的现金结算长期激励计划奖励的公允价值增加导致基于股票的薪酬支出增加350万美元；以及2024年第一季度产生的交易相关成本230万美元。该等因素已被本公司于2024年第一季度于合营公司的股权投资终止确认录得的130万美元收益部分抵销。

• 调整后的EBITDA¹2024年第一季度的收入为370万美元，而2023年第一季度为670万美元。调整后EBITDA的减少¹主要由于上文所述于2024年第一季度按股份计算的薪酬开支较高。

• 2024年第一季度经营活动产生的现金为1300万美元，而2023年第一季度经营活动中使用的现金为50万美元。2024年第一季度经营活动产生的现金增加是由2024年3月4日生效的年度股东大会现金流合并推动的。

• 截至2024年3月31日，该公司的现金和现金等价物为1.308亿美元，没有债务。

董事会的变动

根据公司于2024年4月18日发布的新闻稿，加利亚诺希望澄清，公司将在2024年6月13日举行的年度股东大会上向加利亚诺股东推荐纳文·戴亚尔先生和莫伊拉·史密斯博士为董事会成员，他们不会在年度股东大会之前被任命。

¹非国际财务报告准则业绩衡量

公司在本新闻稿中纳入了某些非国际财务报告准则的业绩衡量标准。这些非国际财务报告准则的业绩衡量没有任何标准化的含义，因此可能无法与其他发行人提出的类似衡量标准相比较。因此，这些业绩衡量标准旨在提供更多信息，不应孤立地加以考虑，也不应作为根据《国际财务报告准则》编制的业绩衡量标准的替代品。请参阅Galiano管理层的讨论和分析中的非IFRS计量部分，了解这些计量的解释以及与公司和年度股东大会根据IFRS报告的财务业绩的核对。

本公司管理层使用每售出黄金盎司的总现金成本来监控年度股东大会的经营业绩。总现金成本包括生产成本、副产品收入和每盎司售出黄金的生产特许权使用费。

• 每盎司黄金的综合维持成本和综合维持利润率

根据世界黄金协会的指导，公司采用了“每盎司黄金的综合维持成本”(“AISC”)报告。AISC包括现金总成本、年度股东大会一般及行政开支、持续资本开支、持续资本化剥离成本、回收成本增值及每盎司出售黄金的年度股东大会采矿及服务租赁协议的利息开支。综合维持保证金是以一段时期的平均已实现黄金价格减去该时期的AISC来计算的。

• EBITDA和调整后的EBITDA

EBITDA显示了公司在考虑公司的融资决定和摊销资本资产的成本之前，从运营中创造收入的持续能力。因此，EBITDA包括不包括利息支出、利息收入、摊销和损耗以及所得税的净收入。调整后的EBITDA调整EBITDA以排除非经常性项目，并计入本公司在2024年1月1日至2024年3月3日期间在年度股东大会合资企业的调整后EBITDA中的权益。其他公司可能以不同的方式计算EBITDA和调整后的EBITDA。

• 自由现金流

本公司相信，除根据国际财务报告准则编制的常规措施外，本公司及若干投资者及分析师使用自由现金流量评估股东周年大会的表现，以评估其营运现金流能力，以应付非酌情现金流出。自由现金流量的列报并不是要取代根据《国际财务报告准则》列报的现金流量信息，而应结合此类《国际财务报告准则》的衡量标准进行评估。自由现金流量按年度股东大会经营活动的现金流量计算，经与持续及非持续资本开支相关的现金流量及支付给采矿及服务承包商的按IFRS 16资本化的租约的现金流量调整后计算。

• 调整后净收益和调整后每股普通股净收益

该公司已纳入调整后净收入和调整后普通股净收入的非国际财务报告准则绩效衡量标准。调整后的净收入或调整后的每股净收入都没有任何标准化的含义，因此不太可能与其他发行人提出的其他衡量标准相比较。调整后的净收入将某些非现金项目或非经常性项目从净收益或净亏损中剔除，以提供一种衡量标准，帮助公司和投资者评估公司或年度股东大会的基本核心业务的业绩及其产生现金流的能力，是衡量公司或年度股东大会的运营实力和核心业务表现的重要指标。

有资格的人

Galiano Gold Inc.总裁技术服务副总裁兼工程师理查德·米勒是加拿大国家仪器43-101《矿物项目披露标准》定义的合格人员，并已批准本新闻稿中包含的科学和技术信息。

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.

Contact Information

Krista Muhr

Toll-Free (N. America): 1-855-246-7341

Telephone: 1-778-239-0446Email: info@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; advancement toward a maiden Mineral Reserve estimate at Midras South; anticipated production and cost guidance; timing of delivery of higher grade ore from the Abore pit; the Company's plans to update a consolidated Mineral Reserve Estimate and Life of Mine plan; 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. 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 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: mineral reserve and mineral resource estimates may change and may prove to be inaccurate; metallurgical recoveries may not be economically viable; Life of Mine estimates are based on a number of factors and assumptions and may prove to be incorrect; risks related to the expected benefits of the Acquisition; 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; the AGM has a limited operating history and is subject to risks associated with establishing new mining operations; 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 ore, concentrate and tailings as planned is dependent on a number of factors and assumptions which may not be present or occur as expected; the Company's mineral properties may experience a loss of ore 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; outbreaks of COVID-19 and other 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; recoveries may be lower in the future and have a negative impact on the Company's financial results; the lower recoveries may persist and be detrimental to the AGM and the Company; 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 experienced significant recent 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; risks relating to credit rating downgrades; 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 stock 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 the 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.

Source: Galiano Gold Inc.