For immediate release

20 July 2022

Galileo Resources Plc

("Galileo" or "the Company")

Preliminary Drill Results and Prospecting Update at

Shinganda Copper-Gold Project, Zambia

Galileo Resources plc ("Galileo "or the "Company") is pleased to provide preliminary drill results and a prospecting update over its' Option and Joint Venture project covering the Shinganda Copper-Gold (Cu-Au) Project, Zambia (the "Project") where the Company has the right to earn an initial 51% interest.

Highlights

·     Three of the four angled holes drilled at the Shinganda outcrop target for which copper assays have been received intersected shallow intervals of semi-massive hematite mineralisation with strongly disseminated copper

·     Assay results include 50.3m @ 1.53% Cu from 21m downhole depth in SHDD002, with a sub-interval of 7m @ 4.36% Cu, including 2.0m @ 11.31% Cu. Gold assays are awaited

·     Six angled diamond drill holes from surface totalling 963.9m have been completed in total to date; the current programme has been extended from the original plan for three holes due to the positive initial results

·     The results so far support and exceed the results of a historically reported drill intercept at Shinganda which did not include gold assays (1.07% Cu over a true width of 28.3m)

·     Previously reported mapping/prospecting traverses across the Shinganda licence area by Galileo (30^th May 2022) identified nine targets which have been subjected to recent small-scale artisanal excavation. Rock grab sample assay results have returned strongly anomalous results for copper and gold from most of these, including 1.42% Cu, 3.14g/t Au from the Shinganda outcrop and 1.79% Cu, 10.19g/t Au & 3.77% Cu, 1.24g/t Au from other occurrences within the licence area

·     The outcome of the prospecting, showing the presence of copper and gold mineralisation over an area of at least 12km x 6km on the Shinganda licence, points to the potential for several shallow copper-gold deposits on the property or for a potentially larger target

*Gold assays awaited

Colin Bird Chairman & CEO said: "Drilling and assaying by the Company has confirmed the presence of copper in an area previously explored by a large mining company. There appear to be a number of structural trends several of which are worthy of follow-up. The Company plans to continue its shallow drilling programme which, if results are positive, will be followed by ground geophysics at the appropriate time. Samples from the current drilling programme have been submitted to South Africa for fire assay to test for gold, which was not targeted in the historic drilling at Shinganda."

Drilling Results to Date

Initial Galileo interest in the Shinganda area focussed on a historic angled drill hole completed in 1959, which reportedly cut a near-vertical zone of heavily veined sediments and copper oxides.

Galileo's drilling has confirmed and extended that occurrence, with current interpretation suggesting that the zone may strike northwestwards from the Shinganda outcrop, where recent grab samples have returned values of 1.42% Cu, 3.14g/t Au.

Six angled diamond drill holes, numbered SHDD001 to 006, totalling 963.9m have been completed to date and drilling is continuing. Copper assay results have been received for the first four of these. Holes 1, 2 & 5 were drilled on a single profile angled towards the north. These confirm a steeply dipping hematite breccia zone with malachite and probable chalcocite mineralisation, which is up to 35m wide at 40m depth in hole 2 (refer to Table 1). It appears that hole 1 cut the margin of the zone at the top of the hole. Hole 5 supports the continuation of the zone to at least 70m depth where it seems to be about 20-25m wide based on preliminary hand-held XRF readings - these are subject to assay confirmation.

Hole 3 was stepped out 60m to the west and clipped the margin of the hematite zone, with some short copper intervals, however the siltstone host rock here is strongly altered and brecciated. Hole 4 was sited about 60m to the NW to follow an apparent structural trend based on interpretation of the recently completed ground magnetic survey and was angled towards the NE to cross-cut this trend. It collared into the hematite breccia zone which was a little less massively hematitic than hole 2. Not much visible copper mineralisation was reported in logging, however the assay results have confirmed the positive readings from the XRF.

Results of Prospecting Programme

As reported on 30^th May 2022, Galileo Resources Plc undertook a reconnaissance mapping and sampling exercise over the most prospective western sector of the licence. Much of the area is covered by a layer of overburden and duricrust, nevertheless nine target areas with copper-gold mineralisation or alteration of interest were identified during mapping over an area of 12km x 6km within the licence. Most were artisanal pit working exposures with visible copper oxide mineralisation. Selected sample assay results are given in Table 2:

Based on the wide spread of occurrences of copper and gold mineralisation over the Shinganda licence, the Project is considered by the Company to have potential for a large copper-gold deposit and/or a series of shallow deposits amenable to small to medium scale open pit mining development.

Technical Sign-Off

Technical information in this announcement has been reviewed by Edward (Ed) Slowey, BSc, PGeo, Technical Director of Galileo. Mr Slowey is a geologist with more than 40 years' relevant experience in mineral exploration and mining, a founder member of the Institute of Geologists of Ireland and is a Qualified Person under the AIM rules. Mr Slowey has reviewed and approved this announcement.

You can also follow Galileo on Twitter: @GalileoResource

For further information, please contact: Galileo Resources PLC

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

Technical Glossary

Appendix 1: Full Assay Results