Galiano Gold Inc.

Processing

• The AGM produced 30,350 ounces of gold during Q2 2025, an increase of 46% from Q1 2025, as the processing plant milled 1.2 Mt of ore at an average grade of 0.8 g/t gold with metallurgical recovery averaging 89%. The increase in gold production was driven by higher plant availability, following the 14-day maintenance shutdown in Q1 2025, resulting in 10% more tonnes milled in Q2 2025. Gold production in Q2 2025 was also positively impacted by the high gold-in-process inventory balance that existed at the end of Q1 2025.

• Gold production during Q2 2025 continued to be impacted by lower milling rates, as harder mined ore from Abore required additional crushing and grinding, compared to softer ore from Esaase that was the primary mill feed source in Q2 2024. The AGM remains on track to meet the lower end of the production guidance range of 130,000 to 150,000 ounces of gold in 2025.

• The construction of a permanent secondary crushing circuit at the AGM processing plant was completed at the end of July 2025. As of the date of this news release, the secondary crushing circuit is ramping up to full capability. The objective of the secondary crushing circuit is to maintain plant throughput at the design capacity of 5.8 Mt per annum when treating harder ore.

• Processing cost per tonne for Q2 2025 was $12.89, a 10% decrease from Q1 2025. On an absolute basis, processing costs were consistent quarter-on-quarter. The decrease in processing cost per tonne in Q2 2025 was driven by 10% more tonnes milled, which decreased fixed processing costs on a per unit basis.