Galiano Gold報告第一季度運營

和財務結果

温哥華，不列顛哥倫比亞省，2024年5月2日-Galiano Gold Inc.(以下簡稱“Galiano”或“公司”)(多倫多證券交易所，紐約證券交易所美國股票代碼：GAU)欣然公佈公司2024年第一季度(“Q1”)的經營和財務業績。Galiano擁有位於西非加納共和國Asankrangwa金礦帶的Asanko金礦(“AGM”)90%的權益。

本新聞稿中包含的所有財務信息均未經審計，並以美元報告。

收購Gold Fields Limited在年度股東大會中45%的權益

於2024年3月4日，本公司完成先前宣佈收購Gold Fields Limited於股東周年大會合營公司45%權益的收購(“收購”)。此次收購的戰略理由是鞏固西非最大金礦之一的年度股東大會的所有權，並將加利亞諾確立為一家不斷增長、財務實力雄厚的黃金生產商。收購完成後，本公司擁有股東周年大會90%的權益，加納政府繼續持有10%的自由附帶權益(非控股權益)。

公司從2024年3月4日開始合併年度股東大會的經營業績、現金流和淨資產。

Asanko金礦第一季度亮點(100%)：

年度股東大會的經營和財務結果已從2024年3月4日起併入公司。為清楚瞭解礦山資產水平的經營表現，於截至2024年3月31日止三個月內，於股東周年大會上100%呈列以下要點。

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¹見“8.非國際財務報告準則計量”

• 財務業績：第一季度以每盎司2,056美元的平均實現價格出售了31,840盎司黃金，創造了6550萬美元的黃金收入。淨收益1,450萬美元和調整後的EBITDA¹第一季度為2170萬美元。

• 在岸上的增長：繼2023年和2024年初在岸上成功實施加密鑽井計劃後，對岸上礦產資源估計的顯著增加於2024年3月31日生效。上述測量和指示的礦產資源量增加了181,000盎司或38%。

• 勘探重點：計劃的2024年勘探計劃包括在Midras South鑽探，以使礦牀達到潛在的初步礦產儲量估計，在Adubiaso進行加密鑽探，在Target 3進行早期鑽探測試，在Gyagyatreso進行延伸鑽探。還設計了一項覆蓋整個財產的偵察計劃，以確定新的感興趣的目標區域。

加利亞諾第一季度亮點：

• 強勁的流動資金：在根據收購條款向Gold Fields支付6500萬美元后，該公司在本季度末擁有1.308億美元的現金和現金等價物，沒有債務。在截至2024年3月31日的三個月裏，公司從運營中產生了1300萬美元的現金流。

• 收益：第一季度淨虧損480萬美元，或每股普通股虧損0.02美元，其中包括從2024年3月4日起生效的年度股東大會財務業績的合併。調整後淨收益¹第一季度為650萬美元，或每股普通股0.03美元。

加利亞諾總裁兼首席執行官馬特·巴迪拉克表示：“2024年第一季度對公司來説是變革性的，收購了Gold Fields在年度股東大會上的權益。該團隊還在ABORE取得了持續的勘探成功，並在我們的合併所有權下為年度股東大會制定了明確而專注的願景。”我們正在跟蹤我們的年度產量和成本指引，該礦本季度的產量略高於3萬盎司。Abore所需的剝離工作仍在繼續，雖然這一計劃將持續到第二季度，但我們預計到第二季度末，將從庫存加工過渡到更高品位的飼料到鋼廠。

最近宣佈的對ABORE礦產資源的升級38%，加上我們的礦藏的額外臺階和填充鑽探，將用於更新第四季度年度股東大會礦藏的綜合礦產儲量估計和礦山壽命計劃。該團隊致力於通過始終如一地實現生產和成本目標、積極的勘探計劃和優化的採礦計劃來進一步創造價值，旨在提前實現礦山的現金流。“

Asanko金礦-季度運營和財務要點摘要(100%)

所有期間的經營和財務結果都是100%的，以便於與前幾個季度進行比較。

Asanko金礦-截至2024年和2023年3月31日的三個月財務和運營要點（100%）

下表列出了截至2024年和2023年3月31日的三個月100%的年度股東大會運營和財務業績摘錄，以便將業績與上一季度的比較期進行比較。

• 年度股東大會於2024年第一季度生產了30,386盎司黃金，因為加工廠實現了1.5公噸礦石的磨礦生產能力，品位為0.8克/噸，冶金回收率平均為83%。該季度的鋼廠原料主要來自現有庫存礦石。

• 2024年第一季度以平均實現黃金價格2,056美元/盎司的價格出售了31,840盎司黃金，總收入為6,560萬美元(包括10萬美元的副產品白銀收入)，比2023年第一季度增加了40萬美元。季度收入環比增長是由於已實現黃金價格較2023年第一季度增長11%，但銷售量下降10%部分抵消了這一增長。

• 2024年第一季度來自礦山運營的收入總計2350萬美元，而2023年第一季度為2470萬美元。採礦業務收入減少的原因是資本化採礦服務租約折舊導致折舊和損耗費用增加210萬美元，但生產成本減少120萬美元部分抵消了這一增加。生產成本的下降主要是由於從Esaase到加工廠的卡車運輸噸減少。

• 已報告的調整後EBITDA¹2024年第一季度為2170萬美元，而2023年第一季度為2290萬美元。調整後EBITDA的減少¹這主要是由於上述採礦業務收入減少所致。

• 現金總成本¹2024年第一季度為1,180美元/盎司，而2023年第一季度為1,083美元/盎司。現金總成本的增加¹主要由黃金銷售量下降所帶動，於2024年第一季度減少9%，並導致每盎司固定成本上升。

• 鞍鋼¹2024年第一季度的價格為1,793美元/盎司，而同期為1,268美元/盎司。鞍鋼¹本季度較高的主要原因是每盎司總現金成本增加¹如上所述，2024年第一季度售出的黃金盎司減少9%，持續資本支出增加(330美元/盎司)，主要與上岸礦牀的廢物剝離活動有關。此外，在2024年第一季度，支付給採礦承包商的租金每盎司高出90美元(包括利息支出)。

• 年度股東大會從經營活動和自由現金流中產生了2610萬美元的現金流¹2024年第一季度為580萬美元。相比之下，來自運營活動的現金流和自由現金流為1890萬美元¹2023年第一季度1200萬美元。自由現金流減少¹主要是由於與上述礦藏的廢物剝離活動有關的資本支出增加，但被2024年第一季度實現的黃金價格上升部分抵消。

Galiano Gold Inc.-截至2024年3月31日和2023年3月31日的三個月的財務摘要。

• 該公司綜合了2024年3月4日開始的年度股東大會的財務結果，確認了3170萬美元的收入，這些收入與以平均實現金價2125美元/盎司出售的14,912金盎司有關。

• 該公司報告2024年第一季度淨虧損480萬美元，而2023年第一季度淨收益為850萬美元。2024年第一季度淨收益減少是由於銷售成本，包括對加工中黃金和現有黃金庫存實現購買價格調整，總計1,030萬美元；與公司股價掛鈎的現金結算長期激勵計劃獎勵的公允價值增加導致基於股票的薪酬支出增加350萬美元；以及2024年第一季度產生的交易相關成本230萬美元。該等因素已被本公司於2024年第一季度於合營公司的股權投資終止確認錄得的130萬美元收益部分抵銷。

• 調整後的EBITDA¹2024年第一季度的收入為370萬美元，而2023年第一季度為670萬美元。調整後EBITDA的減少¹主要由於上文所述於2024年第一季度按股份計算的薪酬開支較高。

• 2024年第一季度經營活動產生的現金為1300萬美元，而2023年第一季度經營活動中使用的現金為50萬美元。2024年第一季度經營活動產生的現金增加是由2024年3月4日生效的年度股東大會現金流合併推動的。

• 截至2024年3月31日，該公司的現金和現金等價物為1.308億美元，沒有債務。

董事會的變動

根據公司於2024年4月18日發佈的新聞稿，加利亞諾希望澄清，公司將在2024年6月13日舉行的年度股東大會上向加利亞諾股東推薦納文·戴亞爾先生和莫伊拉·史密斯博士為董事會成員，他們不會在年度股東大會之前被任命。

¹非國際財務報告準則業績衡量

公司在本新聞稿中納入了某些非國際財務報告準則的業績衡量標準。這些非國際財務報告準則的業績衡量沒有任何標準化的含義，因此可能無法與其他發行人提出的類似衡量標準相比較。因此，這些業績衡量標準旨在提供更多信息，不應孤立地加以考慮，也不應作為根據《國際財務報告準則》編制的業績衡量標準的替代品。請參閲Galiano管理層的討論和分析中的非IFRS計量部分，瞭解這些計量的解釋以及與公司和年度股東大會根據IFRS報告的財務業績的核對。

本公司管理層使用每售出黃金盎司的總現金成本來監控年度股東大會的經營業績。總現金成本包括生產成本、副產品收入和每盎司售出黃金的生產特許權使用費。

• 每盎司黃金的綜合維持成本和綜合維持利潤率

根據世界黃金協會的指導，公司採用了“每盎司黃金的綜合維持成本”(“AISC”)報告。AISC包括現金總成本、年度股東大會一般及行政開支、持續資本開支、持續資本化剝離成本、回收成本增值及每盎司出售黃金的年度股東大會採礦及服務租賃協議的利息開支。綜合維持保證金是以一段時期的平均已實現黃金價格減去該時期的AISC來計算的。

• EBITDA和調整後的EBITDA

EBITDA顯示了公司在考慮公司的融資決定和攤銷資本資產的成本之前，從運營中創造收入的持續能力。因此，EBITDA包括不包括利息支出、利息收入、攤銷和損耗以及所得税的淨收入。調整後的EBITDA調整EBITDA以排除非經常性項目，並計入本公司在2024年1月1日至2024年3月3日期間在年度股東大會合資企業的調整後EBITDA中的權益。其他公司可能以不同的方式計算EBITDA和調整後的EBITDA。

• 自由現金流

本公司相信，除根據國際財務報告準則編制的常規措施外，本公司及若干投資者及分析師使用自由現金流量評估股東周年大會的表現，以評估其營運現金流能力，以應付非酌情現金流出。自由現金流量的列報並不是要取代根據《國際財務報告準則》列報的現金流量信息，而應結合此類《國際財務報告準則》的衡量標準進行評估。自由現金流量按年度股東大會經營活動的現金流量計算，經與持續及非持續資本開支相關的現金流量及支付給採礦及服務承包商的按IFRS 16資本化的租約的現金流量調整後計算。

• 調整後淨收益和調整後每股普通股淨收益

該公司已納入調整後淨收入和調整後普通股淨收入的非國際財務報告準則績效衡量標準。調整後的淨收入或調整後的每股淨收入都沒有任何標準化的含義，因此不太可能與其他發行人提出的其他衡量標準相比較。調整後的淨收入將某些非現金項目或非經常性項目從淨收益或淨虧損中剔除，以提供一種衡量標準，幫助公司和投資者評估公司或年度股東大會的基本核心業務的業績及其產生現金流的能力，是衡量公司或年度股東大會的運營實力和核心業務表現的重要指標。

有資格的人

Galiano Gold Inc.總裁技術服務副總裁兼工程師理查德·米勒是加拿大國家儀器43-101《礦物項目披露標準》定義的合格人員，並已批准本新聞稿中包含的科學和技術信息。

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.