24 December 2025

Galileo Resources PLC

("Galileo" or "the Company" or "the Group")

Unaudited interim results for the six months ended 30 September 2025

Galileo (AIM: GLR), the exploration and development mining company, announces its unaudited interim results for the six-month period ended 30 September 2025. A copy of the interim results is available on the Company's website, www.galileoresources.com.

Financial Highlights

The Group reported a loss of £644,766 (2024: profit of £2,172,112) after taxation. The profit reported during the prior period was generated by the sale of the Company's interest in Glenover. Loss per share reported is 0.05 pence (2024: profit of 0.19 pence) per share. Profit/(Loss) per share is based on a weighted average number of ordinary shares in issue of 1,179,904,300 (2024: 1,163,188,453).

Operational Highlights

Luansobe Copper Project, Zambia

Galileo holds a 75% interest in the Luansobe Project with JV partner Statunga Investments Limited, a private Zambian company. The project is situated in the Zambian Copperbelt just 15km along strike to the northwest from the historic Mufulira Mine, which produced well over 9Mt of copper metal during its operation. The mineralisation at Luansobe is essentially a continuation of that present at Mufulira and is hosted within the same stratigraphic horizon, concentrated in the northwestern limb of the northwest-southeast trending Mufulira syncline. At Luansobe the mineralisation occurs over a strike length of 3km in at least two semi-contiguous zones that dip 20-30 degrees to the northeast to a vertical depth of at least 1,250m.

Adjoining small scale mining licences 34543-HQ-SML and 34545-HQ-SML were awarded for a period of ten years from the 24 April and 4 August 2024 respectively and cover a combined area of 738 Ha.  The licences encompass a shallow open-pittable Inferred Mineral Resource of 5.8Mt at 1% Cu and a deeper underground Inferred Mineral Resource of 6.3Mt at 1.5% Cu, as well as a southern exploration target.

Open pit sensitivity and mine optimisation analysis completed in the previous reporting period by independent consultants provided the technical understanding required to develop the most optimal mine plan at Luansobe that will deliver the strongest returns for shareholders. Scope exists for the development of a multi-faceted operation that extracts ore via open pit and shallow underground methods, whilst developing a much larger deeper underground resource. There is further optionality for contractor mining, followed by in-house processing or external toll treatment of ore, and mining and toll treatment delivered by a single provider.

Previous drilling at the Southern exploration target identified approximately 3 to 7Mt of ore in the region of 1% to 1.5% Cu between the depths of 100 to 300m and further drilling is required to realise this potential resource.

Period Under Review

·      Following the award of adjoining small scale mining licences, the Company has continued to progress discussions with interested third parties

·      Further plans are underway to progress the Southern target towards active exploration and resource definition.

Several parties have expressed interest in working with the Company and its partners with various options being presented and discussed. At the time of writing this, report the Company has no definitive arrangement with any 3rd party regarding production, Joint Venture arrangement or a sale. The Company will keep the market informed on Luansobe as matters progress.

Jubilee Collaboration Agreement, Molefe Copper Project, Zambia

Post year-end, on the 27 November 2025, Galileo entered a conditional co-operation and project development agreement with Jubilee Metals Group PLC relating to the Molefe Copper Mine project in Zambia. Under the terms of the agreement, Galileo will fund a US$700,000 exploration and resource development program in exchange for a 23.75% interest in the project. Jubilee will retain a 71.25% interest, and a further 5% will be held by a local Zambian company.

The collaboration agreement combines Galileo's geological and exploration expertise with Jubilee's established in-country operational and processing expertise and it is the intention that additional short to medium term advanced exploration and mining opportunities will be sought in addition to the development of the Molefe Mine.

At Molefe the plan is to advance the project through an accelerated development schedule, including an immediate objective to increase production to 4-5,000 tonnes per month (tpm) run-of-mine (ROM), and ultimately achieve a longer-term target of 8,500 tpm by the third quarter of financial year 2026. 

High-grade copper ore averaging more than 2% Cu is currently transported off-site and refined at Jubilee's Sable processing plant in Zambia. An additional 2.2 million tonnes of lower-grade ore (approximately 0.7% Cu) has been stock-piled on site. It is anticipated that the establishment of an on-site processing facility, as envisaged in the agreement, will unlock additional value from the project.

Further project re-evaluation will focus on resource expansion and mine plan optimisation, supported by progressive exploration drilling, to sustain near-term production and extend the overall mine life. Early drilling results have been encouraging, confirming the presence of copper sulphide material beneath existing copper oxides.

Ferber Cu-Au project, Nevada, USA

The Ferber project is 100% owned by Galileo and located 40km south of Wendover in Elko County, Nevada. The Project comprises a series of patented and unpatented claims covering an area of about 20km². Ferber is a polymetallic contact skarn and porphyry intrusive exploration target with significant potential for copper, gold and associated mineral discovery.

The region has a rich mining history dating back to the 1880's when copper-lead-silver-gold deposits were discovered in the adjacent area, and ore has been shipped from the neighbouring Martha Washington, Big Chief, Regent and other small mines over the years. Individual grab samples collected by Galileo from old workings and dumps have ranged up to 10.8 g/t Au, 674 g/t Ag, 4.19% Cu, 8.71% Pb and 7.62% Zn and historic drilling has returned intercepts up to 4.6m at 2.37g/t Au and 12m at 0.83% Cu.

Ferber shares many similarities with the Battle Mountain Trend deposits in Nevada (>100Mt Au in production and reserves, plus substantial copper and silver) which include multiphase Eocene intrusive skarns.

Period under review

·    With the aim to rapidly advance exploration at the project, on 13^th May 2025 Galileo entered a royalty agreement with local exploration company Bronco Creek Exploration Inc (BCE), a wholly owned subsidiary of EMX Royalty Corporation (now Elemental Royalty Corporation).

·    Under terms of the agreement Galileo will fund a two-stage exploration programme and BCE will provide technical input and oversight, in return for up to a 1% Net Smelter Return (NSR) royalty interest in the property. BCE will have the option to purchase a further 0.5% NSR interest for US$1m at any time prior to the completion of a feasibility study.

Post period under review

·    The Phase 1 target generation programme was completed post year-end and included mapping over a total area of approximately 70km², the collection of 109 rock grab samples, property wide soil sampling and a ground gravity survey.

·    The mapping further identified mineralised workings and bedrock alteration west of the existing claim holding, and a further 89 claims were staked to extend the property.

·    The next stage will integrate the newly generated Phase 1 exploration data with all sourced historical exploration data. Once data integration is complete, BCE will provide Galileo with a final data compilation and targeting report and in return Galileo will grant a 0.33% perpetual NSR royalty.

·    The Phase 2 reconnaissance drilling programme is anticipated to commence in the first half of 2026, subject to weather, permitting and drill availability.

·    Anomalous levels of several metals on the US critical minerals list have also been identified during historical data evaluation, including zinc, bismuth and arsenic, which could add additional value to the property. Appropriate follow-up ground analysis will be completed during assessment of the property.

Kalahari Copperbelt Cu-Au Project, Botswana

The Kalahari Copperbelt is a rapidly emerging copper-silver mining region, known for its high-grade, sediment-hosted copper deposits that is gaining global attention and increased investment amid a rising demand for copper. Galileo holds 100% interest in three high priority licences that are central to major developments within the Kalahari Copperbelt. Advanced and producing projects already underway in the area include Sandfire's Motheo Mine, which has a resource estimate of over 64 Mt of ore graded at 1.0% Cu and 13.8 g/t Ag, and the high-grade Khoemacau Copper-Silver Mine, which boasts over 110 Mt of ore at 1.7% Cu and 18 g/t Ag. Khoemacau was acquired by China's MMG in 2024 for US$1.9 billion and is expected to produce between 43,000 and 53,000 tonnes of copper in copper concentrate per annum.

Emerging developments include Cobre's Ngami project, where a maiden economic mineral resource was recently announced, and Cobre's Kitlanya West & East joint-venture which in 2025 attracted a US$25 million investment from global giant BHP. Galileo's holdings are proximal to all these discoveries and are proven to include similar stratigraphic and structural settings.

Period Under Review

·    Galileo undertook a full re-evaluation of its' 2022 drill samples from PLs 039 and 040 using a portable XRF analyser. The analysis confirmed traces of copper mineralisation in several drill holes in the vicinity of the main D'Kar / Ngwako Pan target horizon that are further co-incident with surface soil anomalism. Samples are being prepared for full laboratory analysis.

·    A new target was identified on licence PL253 along strike from BHPs Tlou prospect. The target is coincident with the prospective D'Kar/Ngwako Pan contact and the extension of the interpreted Tlou thrust fault, which is associated with mineralisation at Tlou.

·    Ground exploration by Galileo and a programme of 4 RC drillholes commenced at the new target during the reporting period. Preliminary results include a return of a 61m-wide interval of intermittent visible copper-oxides from 75m depth in drillhole QTRC014. Samples from this programme are also being prepared for laboratory analysis.

Shinganda Copper-Gold Project, Zambia

Galileo holds a 51% interest in the Shinganda project located in Western Zambia which is considered highly prospective for deposits of copper and gold associated with the Iron Oxide Copper Gold (IOCG) model. A complex structural history dominates the licence, with intermittent copper and gold mineralisation identified across two adjoining structures, known as the Shinganda Main Fault and the Shinganda Splay Fault, the latter is associated with 2 small historic open pits that are located just off the licence. Much of the copper-gold mineralisation so far identified at Shinganda is located at the Shinganda outcrop zone, which sits on the splay fault and Galileo has made several advances towards evaluating its near-term copper production potential. Further wide spaced drilling and exploration work across the wider licence has identified many geological characteristics that may indicate the presence of a much larger IOCG mineral system on the licence and forms a focus for continued exploration.

Period Under Review

·    Following completion of a third and fourth phase of drilling in the previous reporting period work has continued to evaluate the potential for small scale mining associated with shallow supergene enriched copper mineralisation at the main Shinganda zone, as well as discerning the wider potential for a much larger Iron-Oxide-Copper-Gold mineralised system.

·    The Company is actively testing the hypothesis that the splay fault may act as a feeder structure and several large magnetic anomalies identified in the 2022 geophysical survey may represent mineral trap sites and remain untested. Continued surface exploration including soil sampling is underway and follow-up drilling is planned.

Western Foreland Copper Project, Zambia

Galileo holds a 65% interest in the Western Foreland Project which comprises large scale exploration licence 28001-HQ-LEL. The licence covers a total area of 52,083 hectares and is situated in Northwestern Zambia, along the Angolan-Zambian border. The project is adjacent to the Central African Copper Belt, where significant potential exists for the discovery of sediment hosted copper deposits akin to the nearby Kamoa-Kakula complex, which is situated just over the border in the DRC. Limited exploration has been completed on the licence to date and the region is under international spotlight due to discoveries made in the region by the world's top tier mining companies.

Period Under Review

·    Following the identification of prospective underlying stratigraphy exploration efforts continue to outline the potential for the licence to host REDOX fronts that are associated with much of the copper mineralisation in the region, including at the neighbouring Kamoa-Kakula mine complex.

·    Work completed includes a full evaluation of all available surface data and comparison to new data continually made available in the region by neighbouring explorers, including Galileo's partner African Pioneer, which holds an active joint venture agreement with First Quantum Minerals. 

Kashitu Zinc Project, Zambia

The Kashitu zinc project is located 140km north of Lusaka and immediately adjacent to the town of Kabwe in central Zambia, just 7km to the southeast of the historic Kabwe Pb-Zn mine and processing plant.

The licence was historically explored by BHP targeting large, Kabwe-style massive sulphide deposits. BHP defined a sub-economic zinc resource at the project inclusive of several mineralisation styles, including high-grade, N-S oriented, structurally controlled massive willemite veins returning 30-50% Zn, wide intervals of low to medium grade disseminated willemite averaging 1-3% Zn, and surficial accumulations of supergene enriched zinc mineralisation at the karstic interface returning up to 7.7% Zn.

Historical mining exploited a 30x3m elongate zinc willemite structure from a small, shallow open pit, and limited shallow historical diamond drilling suggests possible continuity of the structure at depth.

Challenging surface conditions associated with the natural dambo and very high-water table have historically inhibited historical mining efforts and exploration in the area.

Period Under Review

·    Following the earlier award of small-scale mining licence No. 39893-HQ-SML the Company has continued to progress plans to co-operatively develop a small-scale mining operation capable of extracting shallow supergene enriched zinc to depths of 1-3m. Plans are underway for shallow drilling on a close-spaced grid to fully evaluate the surface accumulations of zinc and direct preliminary mining.    

·    Plans to extract surface accumulations of high-grade massive zinc-willemite ore are also underway.

Stakeholder engagement and communication with residents and artisanal miners has continued throughout the reporting period to achieve a viable operation that benefits all parties. Navigating the expectations of the various parties is challenging and the company's representatives continue to build a business plan and ultimately look at entering into a Collaboration agreement with a local small-scale contractor.

Kamativi Lithium and Bulawayo Gold, Sinamatella Licences, Zimbabwe

Galileo holds an 80% interest in the Kamativi Li-Ta-Sn-REE-Cu project and the Bulawayo Au-Ni Project, collectively known as the Sinamatella Licences, located in northwestern and western Zimbabwe respectively.

Zimbabwe has long been a significant gold producer, primarily from Greenstone Belt quartz 'reef' deposits that are host to many small to mid-size gold mines and deposits. The Bulawayo project covers an area of 1,300km² across prospective ground centralised in the heart of the Greenstone district. 

Associated with its rich tin mining history, Zimbabwe is recognised as one of the most prospective countries in Africa for pegmatite-hosted lithium. The historic Kamativi tin-tantalum mine sits adjacent to the Sinamatella Kamativi licence and in 2018 Chimata Gold Corp (Zimbabwe Lithium Company) announced a JORC (2012) compliant Indicated Mineral Resource of 26Mt @ 0.58% Li₂O within the mine tailings, confirming that the mine contained significant quantities of lithium. Further developments include the Arcadia open pit, stacked pegmatite, lithium deposit, situated in eastern Zimbabwe, which contains JORC- compliant proven and probable ore reserves of 37.4Mt at 1.22% Li₂O and was sold to China's Zhejiang Huayou Cobalt for US$422m in 2022.

The Sinamatella licences have received little modern exploration and several high-priority Li-Sn-REE-Au-Ni-Cu targets have been identified across all three exploration licences. Work completed has concentrated on surface sampling, airborne geophysics and targeted drilling. Preliminary drilling at Kamativi intersected an 18m wide lithium bearing pegmatite returning individual 1m assays of over 2% Li₂O, target pegmatites remain open and continue for over 10km of strike.

Period Under Review

·      Evaluation of work completed to date has informed follow-up drill targeting at Kamativi and Bulawayo. At Bulawayo the focus is identifying concentrations of potential gold mineralisation in areas along strike, or under cover, and not accessible by historical or artisanal miners.

·      At Kamativi further surface mapping and a second phase of drilling is planned to further evaluate the lithium bearing pegmatite potential of the licence.

The EPO renewals, referred to as an EPL in the RNS of 17 September 2025, are still pending and discussions with the Zimbabwean authorities are progressing and is subject to the Ministry of Mines and Mining Development completing their usual renewal review. The Company will announce receipt of the EPO renewal once awarded.

For further information, please contact:

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").

Statement of Responsibility for the six months ended 30 September 2025

The directors are responsible for preparing the consolidated interim financial statements for the six months ended 30 September 2025 and they acknowledge, to the best of their knowledge and belief, that:

·   the consolidated interim financial statements for the six months ended 30 September 2025 have been prepared in accordance with UK adopted IAS 34 - Interim Financial Reporting

·   based on the information and explanations given by management, the system of internal control provides reasonable assurance that the financial records may be relied on for the         preparation of the consolidated interim financial statements. However, any system of             internal            financial control can provide only reasonable, and not absolute, assurance against material           misstatement or loss

·   the going concern basis has been adopted in preparing the consolidated interim financial statements and the directors of Galileo have no reason to believe that the Group will not be a going        concern in the foreseeable future, based on forecasts and available cash resources

·   these consolidated interim financial statements support the viability of the Company; and  

·   having reviewed the Group's financial position at the balance sheet date and for the period          ending on the anniversary of the date of approval of these financial statements they are      satisfied that the Group has, or has access to, adequate resources to continue in operational        existence for the foreseeable future

Colin Bird       

Chairman and Chief Executive Officer

24 December 2025