REG - Galileo Resources - Molefe Project Drilling Update, Zambia

Galileo ResourcesAnnouncement

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RNS Number : 9554J  Galileo Resources PLC  03 December 2025

3 December 2025

 

Galileo Resources Plc

("Galileo")

Molefe Project Drilling Update, Zambia

 

Galileo Resources Plc (AIM:GLR) is pleased to report the commencement of
drilling at the Molefe Project post signing of a conditional co-operation and
project development agreement on 27 November 2025 (the "Collaboration
Agreement") with Jubilee Metals Group PLC (AIM:JLP, Altx:JBL) ("Jubilee").

 

Highlights

 

·    Resource drilling commenced with two holes, out of an expected
approximately 10 hole programme, completed to date post signing of the
Collaboration Agreement.

 

·    Immediate objective to maintain the current production profile for a
further 3 months, a mid-term 6-month aim to replace depleted resources and in
the longer-term, implementation of a programme of regional reconnaissance
drilling to extend the life of mine.

 

 

Colin Bird, chairman of Galileo said "We are very pleased that drilling has
commenced in line with the Collaboration Agreement.  I look forward to
reviewing initial results aimed at underpinning production goals whilst we
undertake reconnaissance drilling of the general area".

 

 

 

Galileo/Jubilee Molefe Collaboration Agreement

 

Please refer to RNS dated 28 November 2025

 

 

 

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

 

 Colin Bird, Chairman                       Tel +44 (0) 20 7581 4477
 Beaumont Cornish Limited - Nomad           Tel +44 (0) 20 7628 3396

 Roland Cornish/James Biddle
 Novum Securities Limited - Joint Broker    +44 (0) 20 7399 9400

 Colin Rowbury /Jon Belliss
 Shard Capital Partners LLP - Joint Broker  Tel +44 (0) 20 7186 9952

 Damon Heath

 

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").

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'' ''could'' "should" ''envisage''
''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those
variations or comparable expressions including references to assumptions.
These forward-looking statements are not based on historical facts but rather
on the Directors' current expectations and assumptions regarding the Company's
future growth results of operations performance future capital and other
expenditures (including the amount. Nature and sources of funding thereof)
competitive advantages business prospects and opportunities. Such forward
looking statements reflect the Directors' current beliefs and assumptions and
are based on information currently available to the Directors. A number of
factors could cause actual results to differ materially from the results
discussed in the forward-looking statements including risks associated with
vulnerability to general economic and business conditions competition
environmental and other regulatory changes actions by governmental authorities
the availability of capital markets reliance on key personnel uninsured and
underinsured losses and other factors many of which are beyond the control of
the Company. Although any forward-looking statements contained in this
announcement are based upon what the Directors believe to be reasonable
assumptions. The Company cannot assure investors that actual results will be
consistent with such forward-looking statements.

 

 

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