Galiano Gold Inc. provided an update of drilling results at Nkran following the completion of an infillb drilling program at the Asanko Gold Mine (AGM), located in Ghana. The AGM is a 50:50 joint venture (JV) with Gold Fields Ltd, with the JV managed and operated by Galiano. Effective February 28, 2022, Nkran has a Mineral Resource Estimate of 12.1 Mt at 2.09 g/t for 814 kozs indicated and 1.3 Mt at 2.23 g/t for 96 kozs inferred.

The 2022 infill drilling program was designed to enhance confidence in the indicated Mineral Resource and explore for potential extensions of mineralization at Nkran. Drilling has intercepted several high-grade intervals within and below the resource shell as described in National Instrument 43-101 Technical Report for the Asanko Gold Mine, Ashanti Region, Ghana, effective date February 28, 20221 and confirms continuity of mineralization within areas where higher levels of confidence were warranted. Results are currently being incorporated into an updated Mineral Resource Estimate which is expected to support an updated Mineral Reserve Estimate anticipated in first quarter of 2023.

24 diamond drill holes totalling 8,116m have been drilled at Nkran in 2022. Highlighted intercepts include: Hole NKDD22-100: 16 meters @ 47.3 g/t gold from 13.6m and 41 meters @ 3.0 g/t gold from 135.4m. Hole NKDD22-099: 11 meters @ 27.6 g/t gold from 259m.

Hole NKDD22-083: 49 meters @ 3.4 g/t gold from 261.7m and 58.50 meters @ 3.5 g/t gold from 336m. Hole NKDD22-086: 16 meters @ 5.4 g/t gold from 191m. Hole NKDD22-080: 45 meters @2.3 g/t gold from 107m.

Hole NKDD22-105: 8 meters @ 10.4 g/t gold from 109m. Hole NKDD22-106: 59 meters @ 2.7 g/t gold from 330m. The Nkran pit is located immediately adjacent to the 5.8 million tonne per annum processing plant, and has historically yielded the highert average mined grades on the Asankrangwa Belt and contributed significant cash flows to the AGM.

During the mining of cut 2, Nkran produced 15.2M tonnes at 1.63 g/t and reported metallurgical recoveries of 94%. The Nkran geological setting is typical of the Asankrangwa belt with a sedimentary sequence of interlayered shale, siltstone, and sandstone. Two granitic bodies intrude along shear zones that control mineralization which dips steeply to the northwest along with the sheared host stratigraphy.