Ann: New Nickel Sulphide Zone Discovered North of Callisto, page-2

NEW NICKEL SULPHIDE ZONE DISCOVERED NORTH OF CALLISTO

Highlights

• Four RC drill holes completed 400 metres north of the Callisto discovery have intersected disseminated nickel sulphide mineralisation up to 51 metres thick (1)

• Portable XRF analyses confirm the presence of nickel sulphide with laboratory assays required to determine whether palladium/platinum and other metals are present (2)

• NRC346 contains the most abundant disseminated sulphide in a shallow zone starting at just 82 metres below surface

• Samples from this new zone have been submitted to the laboratory with first assays expected in approximately five weeks

• New results confirm Galileo’s geological model that the five kilometres of ground to the north of Callisto is highly prospective for new discoveries

• RC and diamond drilling continues at Callisto with the diamond rig drilling out mineralisation down dip of the discovery and the RC rig testing for new discoveries to the north

Galileo Mining Ltd (ASX: GAL, “Galileo” or the “Company”) is pleased to provide an exploration update from ongoing RC drilling north of the Callisto palladium-platinum-gold-rhodium-nickel-copper discovery within the Company’s 100% owned Norseman project in Western Australia.

Figure 1 –– RC chips with disseminated sulphides (5%) in NRC346

(1) See Appendix 1 for drill hole information and visual mineralisation descriptions

(2) Portable XRF was used for geological logging and qualitative purposes only. pXRFs do not read Pd,Pt,or Au.

Galileo’s Managing Director Brad Underwood commented; “RCdrilling north of Callisto has identified a new zone of disseminated nickelsulphide in the first exploration drill program in the area since the discoveryat Callisto defined the prospective geological unit on Galileo’s ground. Ourtarget generation model suggested that the five kilometres north of Callistoare the most prospective and these early drill results strongly support thisconcept. With 278 km2 of tenements in the Norseman project we continue tobelieve that Galileo has all of the most prospective ground in this newlyestablished mineral domain.

To date we have undertaken scout RC drilling up to 500metres north of Callisto with plans to extend this to 1,000 metres in thecurrent program. The recent approval of proposed drill programs from theDepartment of Mines now allows for systematic drilling of the prospectivegeological horizons up to 3.5km north. At the same time the diamond drill rigcontinues to drill down dip of Callisto where the mineralisation is interpretedto continue into Galileo’s tenements.

With no known outcrop, and over five kilometres ofprospective strike, we consider that a significant opportunity exists foradditional discoveries at shallow depths. We are very excited to be rapidlyprogressing this new discovery and look forward to updating the market asresults become available.”