Galiano Gold Expands Abore High-Grade Footprint with Multiple Intercepts in Latest Drilling Including 14.2 g/t Au over 15m and 4.7 g/t Au over 24m

The news release dated January 29, 2026, reports the final results from the 2025 drilling campaign at the Abore deposit, part of the Asanko Gold Mine (AGM) in Ghana. The company completed 11,000 meters of diamond core drilling, intersecting significant high-grade mineralization including 14.2 g/t Au over 15m and 30.4 g/t Au over 4.2m. Crucially, the drilling confirms that the Abore mineralizing system is larger than previously estimated and remains open at depth. These results are being integrated into a maiden underground Mineral Resource Estimate, expected in February 2026. Management also announced a $17 million exploration budget for 2026, including 30,000 meters of drilling at Abore and 9,000 meters at Esaase.

The impact of this news is material and positive for the following reasons: - Resource Growth: The expansion of the "high-grade footprint" and identifying deep mineralization validates the transition strategy from a purely open-pit operation to an underground producer. - Strategic Timing: The inclusion of these results in the upcoming February maiden resource update provides a near-term catalyst to re-rate the stock, which currently trades at a low P/NAV (<0.45). - Grade Quality: Intercepts like 14.2 g/t and 30.4 g/t are significantly higher than the current reserve grade of 1.36 g/t, suggesting the potential for higher-margin mill feed. - Commitment: A $17 million budget for 2026 indicates a well-funded exploration strategy, though the market will need to see this translate into production to offset the 2025 operational misses.

Galiano Gold operates the Asanko Gold Mine (AGM) in Ghana, of which it owns 90% (following the 2024 acquisition of Gold Fields' interest). The AGM is a multi-pit operation including the Esaase, Abore, and Nkran deposits. The project has a 5.8Mtpa processing plant. The current strategy is a "turnaround story" aiming to ramp up production to >200koz/year by 2028 while lowering AISC from current elevated levels ($2,200+) to a life-of-mine average of <$1,300/oz.