Galileo Mining Uncovers New Mineralised Ultramafic Sill Below Callisto Resource at Norseman Project

Diamond Drilling Beneath Callisto Reveals Multiple Intrusive Systems

During the June quarter, Galileo Mining achieved its most notable exploration success through diamond drilling beneath the existing Callisto Resource, uncovering a previously unidentified mineralised ultramafic sill. Drill hole 26NRDD525 intersected a broad zone of 109 metres at 0.21g/t PGM 3E starting from 426 metres depth, including a higher-grade segment of 8 metres at 0.50g/t PGM 3E from 486 metres. This finding significantly enhances the prospectivity of the broader Norseman layered intrusive system.

Metallurgical sampling within the Callisto Resource from the same drill hole confirmed consistent high-grade mineralisation, returning 38 metres at 1.57g/t PGM 3E, 0.24% copper, and 0.27% nickel from 124 metres depth. This interval contained a higher-grade section of 13 metres at 2.37g/t PGM 3E, 0.38% copper, and 0.37% nickel from 146 metres. The discovery of this new mineralised intrusive unit beneath Callisto marks a major advancement in understanding the geometry and scale of the Norseman deposit. Geological interpretation now indicates that both Callisto and Mission Sill consist of multiple intrusive sills forming large complexes along major structural corridors, greatly increasing the potential for further PGM discoveries across the project.

Refined Geological Model at Mission Sill Supported by Geophysical Surveys

In the June quarter, Galileo completed detailed analysis of gravity and induced polarisation (IP) survey data over the Mission Sill prospect, where recent reverse circulation drilling had identified shallow sulphide mineralisation. These geophysical surveys confirmed strong anomalies linked to the sulphide zones at Mission Sill, enabling the company to enhance drill targeting for upcoming exploration efforts. The integration of these datasets has bolstered the geological model and increased confidence in Mission Sill as a highly prospective mineralised system warranting systematic testing.

The company emphasized that the gravity and IP surveys validated strong geophysical responses associated with sulphide discoveries at Mission Sill, substantially improving drill targeting precision. Combining this geophysical data with prior drilling results has reinforced the view that Mission Sill represents another promising mineralised system capable of hosting significant PGM mineralisation. This improved geological understanding positions Galileo to swiftly advance from target generation to systematic drilling across multiple prospects.

Launch of 5,000 Metre Aircore Drilling Program Across Key Prospects

Galileo initiated a 5,000 metre aircore drilling campaign during the June quarter aimed at high-priority sulphide zones at Mission Sill and first-pass drilling at the newly identified Callisto South prospect. This campaign marks a significant acceleration in the company’s exploration approach, shifting from interpretation and target identification to systematic field testing of multiple prospective areas within the Norseman Project. The aircore program is designed to evaluate priority targets while furthering geological understanding across the broader project area.

This aircore campaign follows the successful diamond drilling beneath Callisto and completion of geophysical surveys refining Mission Sill targets. Managing Director Brad Underwood stated the company has "transitioned rapidly from target generation to drill testing, commencing a 5,000 metre aircore drilling campaign targeting Mission Sill and the newly identified Callisto South prospect." Results are expected progressively throughout the second half of 2026, offering additional insight into the exploration potential of the Norseman Project. The company highlighted this campaign as a key milestone in its strategy to deliver new discoveries that add significant value beyond the existing Callisto Resource.

Extensive Norseman Project Prospectivity Over 20+ Kilometres of Strike

Galileo’s exploration strategy at Norseman is founded on identifying multiple mineralised intrusive systems across a vast area. Geological interpretation now shows Callisto comprises numerous intrusive sills extending over more than 20 kilometres of strike, while Mission Sill covers 12 kilometres. This extensive prospective geology greatly expands the company’s exploration opportunities and supports its aim to discover additional PGM resources beyond the current Callisto Resource. The layered intrusive nature of both deposits suggests further mineralised horizons may exist in unexplored areas.

The technical team has pinpointed multiple high-priority targets across the Norseman Project based on geological, geophysical, and drilling data. These targets span the known Callisto deposit, the emerging Mission Sill prospect, and newly identified areas such as Callisto South. The broad strike length and evidence of multiple intrusive systems provide a strong geological basis for continued systematic exploration and testing of new targets. Ongoing exploration supports Galileo’s long-term goal of discovering additional PGM resources that could significantly enhance the value of the Norseman Project.

Robust Cash Position Enables Sustained Exploration Activities

As of 30 June 2026, Galileo Mining held approximately A$7.5 million in cash, providing ample funding to advance exploration across the Norseman Project without immediate capital constraints. This financial strength supports ongoing drilling, geological interpretation, and geophysical surveys targeting multiple high-impact exploration areas. The company’s disciplined capital management ensures sufficient resources to execute its exploration strategy effectively.

At the time of the quarterly report, Galileo had 197,624,927 fully paid ordinary shares and 7,100,000 unquoted options exercisable at A$0.30. The strong cash balance and limited dilutive securities position the company well to finance exploration in the near to medium term. Managing Director Brad Underwood noted, "the Company remains well funded to advance exploration programs with a strong cash position of approximately A$7.5 million at the end of the June quarter, maintaining capital discipline while progressing multiple high-impact exploration targets." This financial flexibility allows for potential acceleration of drilling if warranted by exploration results.

Callisto Resource Exhibits Significant Depth and High-Grade Mineralisation

The existing Callisto Resource at Norseman comprises 17.5 million tonnes of PGM mineralisation, forming a solid foundation for Galileo’s exploration strategy. The newly discovered mineralised sill beneath this resource reveals greater vertical extent and complexity than previously understood. Metallurgical sampling within Callisto returned 38 metres at 1.57g/t PGM 3E, 0.24% copper, and 0.27% nickel, including 13 metres at 2.37g/t PGM 3E with elevated copper and nickel grades, confirming substantial precious and base metal values for future evaluation.

The discovery of mineralisation beneath Callisto has important implications for the deposit’s geometry and potential extensions. Prior exploration focused mainly on defining the initial resource area, but diamond drilling has shown mineralised intrusions extend deeper than previously tested. This vertical continuity suggests additional mineralisation may exist at depth within the resource area and along strike. The combination of high-grade mineralisation near surface and evidence of deeper mineralised systems provides strong geological justification for ongoing exploration and resource extension drilling.

Strategic Emphasis on Multiple PGM Systems to Boost Project Value

Galileo Mining’s exploration approach prioritises discovering additional PGM resources beyond the Callisto Resource to enhance the Norseman Project’s long-term value. The identification of the Mission Sill prospect, featuring shallow sulphide mineralisation, diversifies the company’s exploration focus across the project. Recent geophysical surveys and planned drilling at Mission Sill and Callisto South demonstrate management’s commitment to systematically testing multiple prospective areas rather than relying solely on resource extension at Callisto.

The company’s integrated strategy combining geological interpretation, geophysical data, and systematic drilling provides a structured pathway from target generation to confirming new mineralised systems. Managing Director Brad Underwood stated, "Galileo enters the second half of 2026 with multiple opportunities to expand our understanding of what we believe is an emerging PGM province." This indicates management views Norseman as hosting multiple discrete mineralised systems rather than a single deposit. Discoveries beneath Callisto and sulphide mineralisation at Mission Sill support this view. Additional findings from the current aircore campaign could materially enhance the project’s development outlook and investor sentiment.

Quarterly Exploration Advances Within Capital-Disciplined Framework

Throughout the June quarter, Galileo Mining advanced multiple exploration initiatives while maintaining strict capital discipline. Activities included diamond drilling beneath Callisto, detailed geophysical survey interpretation, and launching a new aircore drilling campaign—all aimed at deepening understanding of Norseman’s geology and prospectivity. This multi-pronged approach balances expanding knowledge of the existing resource with systematic testing of new targets.

The sequencing of exploration efforts reflects a logical progression from discovery and geophysical surveying to targeted drilling. Initial reverse circulation drilling at Mission Sill justified detailed geophysical surveys, which in turn refined aircore drill targeting. This integrated method maximises exploration efficiency by focusing expenditure on high-priority targets identified through preceding work. The company’s focus on "capital discipline while progressing multiple high-impact exploration targets" demonstrates careful cash management alongside executing a comprehensive exploration plan. Results from the ongoing aircore campaign, expected in the second half of 2026, will further indicate the success of Galileo’s strategy in uncovering new mineralised systems across the Norseman Project.