Galaxy Resources Limited (ASX: GXY, 'Galaxy' or the 'Company') provides an update on the impact of COVID-19 on its operations, where the health and safety of all employees, contractors and the wider community continues to be Galaxy's first priority.

COVID-19 health and safety procedures have been implemented across all operations without incident.

HIGHLIGHTS

Mt Cattlin operations continue without major disruption as the non-local workforce relocates to the Ravensthorpe region

Sal de Vida to carry out essential services onsite during nationwide lockdown, while offsite engineering work continues

James Bay to postpone geotechnical site works, while offsite value engineering work continues

Galaxy is proactively monitoring and assessing the impact on all operations and will inform the market of any material change

MT CATTLIN, WESTERN AUSTRALIA

Further to Galaxy's announcement on 24 March 2020, interstate contractors have successfully relocated to Mt Cattlin for up to six months, ensuring that all the workforce is now Western Australian ('WA') based. In addition, Perth-based contractors and employees have adjusted rosters to minimise travel and shift transitions. These actions mitigate the health and safety risk, and allows operations to continue without major disruption, while adhering to the WA State Government's recently enforced border closure and quarantine requirements on interstate fly-in, fly-out workers.

SAL DE VIDA, ARGENTINA

The Government of Argentina has extended the nationwide lockdown with mandatory restrictions to continue until at least 12 April 2020. Since Galaxy's announcement on 23 March 2020, there have been no further changes to Sal de Vida's operations. The onsite workforce has reduced to a skeleton crew to carry out essential services only. The restrictions will inevitably slow down onsite activities, however offsite engineering design work continues unaffected.

JAMES BAY, CANADA

The Government of Quebec has enforced the closure of non-essential businesses, including mining and construction activities, until at least 13 April 2020. In response to these restrictions, a small, site-based geotechnical work program has been postponed. However offsite value engineering work on the upstream operations continues unaffected.

Contact:

Phoebe Lee

Tel: +61 (8) 9215 1700

Email: info@gxy.com

About Galaxy (ASX: GXY)

Galaxy Resources Limited ('Galaxy') is an international company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina. It wholly owns and operates the Mt Cattlin mine in Ravensthorpe Western Australia, which is currently producing spodumene and tantalum concentrate. Galaxy is advancing the development of the Sal de Vida lithium brine project in Argentina situated in the lithium triangle (where Chile, Argentina and Bolivia meet), which is currently the source of more than 40% of global lithium production. Sal de Vida has excellent potential as a low-cost brine-based lithium carbonate production facility.

Galaxy's diversified project portfolio also consists of the wholly owned James Bay lithium pegmatite project in Quebec, Canada. James Bay will provide additional expansion capacity to capitalize on future lithium demand growth. Lithium compounds are used in the manufacture of ceramics, glass, and consumer electronics and are an essential cathode material for long life lithium-ion batteries used in hybrid and electric vehicles, as well as mass energy storage systems. Galaxy is bullish about the global lithium demand outlook and is aiming to become a major producer of lithium products.

Caution Regarding Forward Looking Information

This document contains forward looking statements concerning Galaxy. Statements concerning mining reserves and resources may also be deemed to be forward looking statements in that they involve estimates based on specific assumptions. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes.

Forward looking statements in this document are based on Galaxy's beliefs, opinions and estimates of Galaxy as of the dates the forward-looking statements are made and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. There can be no assurance that Galaxy's plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that Galaxy will be able to confirm the presence of additional mineral deposits, that any mineralization will prove to be economic or that a mine will successfully be developed on any of Galaxy's mineral properties. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements. Data and amounts shown in this document relating to capital costs, operating costs, potential or estimated cashflow and project timelines are internally generated best estimates only. All such information and data is currently under review as part of Galaxy's ongoing operational, development and feasibility studies.

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