Ann: Toho Transaction Completion, page-2

That’s it!!!!!

GALENA MINING LTD. ("Galena" or the “Company”) (ASX: G1A) makes this announcement regarding the proposed transaction with Toho Zinc Co., Ltd. (“Toho”) to invest $90 million for a 40% joint-venture investment in Abra Mining Pty Ltd (“AMPL”) as described in the Company’s ASX announcements of 30 January 2019 and 1 April 2019 (“Transaction”).We are pleased to report that Toho, via its wholly-owned subsidiary CBH Western Australia Pty Ltd (“CBHWA”) and Galena have executed the definitive documentation for the Transaction (including an Investment Agreement and AMPL Shareholders Agreement). Furthermore, the fist tranche payment of $20 million has been received by AMPL.Managing Director, Alex Molyneux commented, “I’m very pleased to welcome Toho as our partner for the development of the Abra Base Metals Project. Toho is a recognised player in the global lead and zinc industry and an experienced miner, so their investment represents one of the most positive endorsements possible.”