GALENA MINING LTD. announced that the construction progress at its Abra Base Metals Mine has reached 87% complete as of 30 September 2022. Commissioning has commenced in several key areas with the project remaining on track for first concentrate production in First Quarter 2023. Update on Abra Project progress; Overall progress continues to remain in line for Project completion, with first commercial production expected in First Quarter CY2023.

The processing plant engineering, procurement and construction has reached 93% complete. Structural steel has reached 98% complete and mechanical installations are at 73%. Piping at 48% and electrical at 36% complete continue as active work programs. With commissioning of the Pacific Energy Hybrid 10MW LNG/Solar power station nearing completion, dry commissioning of the Crushing and Screening areas in the processing plant can commence in the second half of October.

Underground mine power changeover from generator sets to site power will alco occur. The commissioning schedule has been finalised for the processing plant. Mine decline development continued in the East Decline during September.

A total of 285m was developed with the decline reaching 1,300mRL. September represents the highest individual development month since the first cut was fired in the portal in October 2021. The decline location is 250m vertically below the surface and is 13m vertically below the top of the orebody.

The decline is approximately 75m laterally from the ore body and the first ore body access drive has commenced. Grade control and infill diamond drilling continued during September with the introduction of a second underground drill. During September, 19 new holes were completed (2,914m).

Assays for three drill holes were received in September with an additional two batches received in early October. The drilling results seen to date align with the information associated with the original surface drilling and some new mineralised areas have also been identified. In surface bulk earthworks, good progress continued with the tailing's storage facility earthworks and lining is now effectively complete.

The site power station is also effectively complete with commissioning progressing well with target site energisation in the second half of October. The first LNG gas delivery occurred in the second week of October. Total Project construction capital expenditure remains within budget.

The key remaining focus is completion of the processing facility and the underground development of the mine. These two areas account for $19.2 Million of the remaining Project construction spend forecast of $30.6 Million and are on schedule to commence commissioning this year, with first concentrate production as planned in Q1, 2023.