Bold Ventures Inc. press release

Galiano Gold Expands Abore Mineralized System with New Intercepts Including 32m @ 4.7 g/t Au and 53m @ 3.9 g/t Au

2026-05-11

TSXV - TSX Venture Exchange · Chromium · Nickel · Copper · Gold · Platinum · Palladium · Molybdenum · Lead · Zinc · Silver · Canada · Drill Results

Latest Drilling Intersects New High-Grade Mineralization Beneath Abore Main Pit, Enhancing Resource Growth Potential Beyond Existing Underground Mineral Resource

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2026) - Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) ("Galiano" or the "Company") is pleased to report positive assay results from the Abore drilling program ("Abore Program") at the Asanko Gold Mine ("AGM") in Ghana, West Africa. These results continue to demonstrate exceptional Mineral Resource growth potential, with drilling successfully extending mineralization at depth, along strike, and across previously untested areas outside the current underground Mineral Resource.

The Abore Program, announced in January 20261, includes both step-out drilling targeting new zones of mineralization beyond the known Mineral Resource and infill drilling focused on expanding and upgrading the existing underground Mineral Resource. To date, approximately 14,500 metres ("m") of the planned 30,000m program have been completed.

Current step-out drilling has intersected mineralization up to 180m below the existing underground Mineral Resource, while infill drilling has improved continuity across key mineralized zones that currently sit outside the existing Mineral Resource. Drilling beneath the Main and South pit areas also continues to confirm robust extensions of mineralization both down plunge and along strike of existing mineralization.

Selected Drill Highlights (see notes 3, 4 and 5 from Table 1)

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Hole ABDD26-477 intersected 3.9 grams per tonne ("g/t") gold ("Au") over 53mfrom 179m

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Hole ABDD26-459 intersected 4.7 g/t Au over 32mfrom 420m

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Hole ABDD26-468 intersected 2.8 g/t Au over 29mfrom 371m

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Hole ABDD26-474 intersected 2.2 g/t Au over 34mfrom 317m

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Hole ABDD26-472 intersected 2.2 g/t Au over 32mfrom 343m

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Hole ABDD26-458 intersected 3.0 g/t Au over 21m from 508m

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Hole ABDD26-478 intersected 4.1 g/t Au over 9mfrom 382m, and 3.3 g/t Au over 17mfrom 480m

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Hole ABDD26-456 intersected 8.4 g/t Au over 6m from 457m and4.8 g/t Au over 5mfrom 500m

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Hole ABDD26-447 intersected 4.3 g/t Au over 11mfrom 301m

Zones of Growth from Current Abore Drilling

[](https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_001full.jpg)

Figure 1: Long section through the Abore deposit showing gram meter contours of Au intercepts with highlights of current drilling labelled.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_001full.jpg

Highlights from Current Abore Drilling Include

1.

High-grade continuity outside existing Mineral Resource

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Significantly improved continuity of mineralization outside the current underground Mineral Resource, including a newly defined 200m long mineralized zone beneath the Main pit, with multiple strong intercepts in holes ABDD26-474, ABDD26-464, ABDD26-469, ABDD26-467, ABDD26-460, ABDD26-468 and ABDD26-472.

2.

Ore zone extensions

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Extension of the Main pit ore shoot by approximately 50m down plunge to the north and at depth in holes ABDD26-459 and ABDD26-456.

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Significantly improved continuity of mineralization outside the current underground Mineral Resource, including hole ABDD26-477, which intersected 3.9 g/t Au from 53m and extends the high-grade South zone.

1.

New high-grade zone identified beneath the northern end of the Abore Main pit intersected in hole ABDD26-478.

2.

Expanded mineralization at depth:

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New high-grade discovery approximately 180m below the current underground Mineral Resource in hole ABDD26-458.

Chris Pettman, Vice President of Exploration, commented:

"These latest exploration results continue to demonstrate the upside potential at Abore, highlighting extensions of mineralization and continuity of mineralized zones outside of, and well beneath, the current Mineral Resource. Specifically, the identification of new high-grade mineralization below the northern end of the Main pit, combined with continued success from deeper drilling and expanded continuity of mineralization at shallower depths, reinforces our belief that Abore has the potential to develop into a significant underground Mineral Resource."

Next Steps

The Abore Program is ongoing, with additional assay results expected in the second quarter of 2026. Drilling will continue to focus on increasing the underground Mineral Resource through additional step-out and infill holes across the deposit.

To effectively evaluate the potential size and quality of the Abore underground Mineral Resource and advance towards a potential maiden Mineral Reserve, the Company has initiated the permitting process with the relevant regulatory bodies for development of an underground exploration drilling adit. Pending required external and internal approvals, the objective of this work will be to commence breaking ground in early 2027.

Current Results

1. High-Grade Continuity Outside Existing Mineral Resource

[](https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_002full.jpg)

Figure 2: Gram meter long section of Abore highlighting successful infill drilling under the saddle zone and south end of Main pit

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_002full.jpg

A focus of current drilling has been infill drilling a 200m long zone located beneath the southern end of the Main pit and saddle area, outside the existing underground Mineral Resource.

Seven diamond drill holes completed within this target area have all returned significant mineralized intercepts, confirming strong continuity of mineralization across the entire zone. Importantly, widths and grades compare favourably to those observed within areas currently included in the underground Mineral Resource.

Key intercepts from south to north include:

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Hole ABDD26-474 intersected:

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2.2 g/t Au over 34mfrom 317m

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7.5 g/t Au over 4mfrom 356m

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3.6 g/t Au over 6mfrom 368m

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Hole ABDD26-464 intersected:

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4.3 g/t Au over 11mfrom 301m

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1.6 g/t Au over 14mfrom 321m

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Hole ABDD26-469 intersected:

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11.0 g/t Au over 3mfrom 313m

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2.1 g/t Au over 18m from 321m

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1.9 g/t Au over 25mfrom 343m

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Hole ABDD25-468 intersected 2.8 g/t Au over 29mfrom 371m

1. Ore Zone extensions

[](https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_003full.jpg)

Figure 3: Gram meter long section of Abore highlighting areas of new extensions of mineralization at the South pit and Main pit ore shoots

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_003full.jpg

Infill and step-out drilling have extended mineralization outside the underground Mineral Resource at both the South pit and Main pit ore shoots, which are the most significant zones of mineralization discovered at Abore to date.

At the South pit ore shoot, hole ABDD26-477 intersected 3.9 g/t Au over 53m from 179m including 6.6 g/t Au over 22m, immediately along strike to the South of the current underground Mineral Resource.

Drilling has now extended the northern end of the Main pit ore shoot by approximately 95m at depth below the current underground Mineral Resource. Intercepts include:

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Hole ABDD26-459 intersected 4.7 g/t Au over 32mfrom 420m

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Hole ABDD26-456 intersected a broad zone of mineralization with multiple intercepts:

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8.4 g/t Au over 6mfrom 457m

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4.8 g/t Au over 5mfrom 501m

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1.5 g/t Au over 6mfrom 478m

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1.1 g/t Au over 6mfrom 445m

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1.0 g/t Au over 8mfrom 488m

1. New High-Grade Zone Identified Beneath Abore Main Pit

[](https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_004full.jpg)

Figure 4: Gram meter long section of Abore highlighting new high-grade mineralization below the northern end of Main pit

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_004full.jpg

A 50m step-out hole targeting extensions of high-grade mineralization identified during the 2025 drilling campaign has successfully intersected a new high-grade zone beneath the Abore Main Pit. With hole ABDD26-478 intersecting:

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4.1 g/t Au over 9mfrom 382m

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3.3 g/t Au over 17m from 480m

This newly identified zone remains open both along strike to the north and at depth, representing a compelling new target area for follow-up drilling throughout 2026.

1. Step-Out Drilling Continues to Expand Mineralization at Depth

[](https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_005full.jpg)

Figure 5: Gram meter long section of Abore highlighting new mineralization intercepted in step-out holes below South and Main pits

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_005full.jpg

Two recent deep step-out holes designed to test mineralization well below the current underground Mineral Resource intersected broad mineralized zones, demonstrating that the Abore mineralizing system remains open and continues to expand at depth.

One hole was drilled approximately 180m below the existing underground Mineral Resource beneath South pit, highlighted by:

Hole ABDD26-458 intersected 3.0 g/t Au over 21mfrom 508m

The second hole was drilled approximately 100m below the underground Mineral Resource beneath the saddle zone and intersected several broad mineralized intervals, highlighted by:

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Hole ABDD26-473 intersected:

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1.4 g/t Au over 21mfrom 518m

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1.2 g/t Au over 21mfrom 391m

Background

Abore is located approximately 13 kilometers north of the AGM's processing plant, directly along the haul road, and has current Open pit Measured and Indicated Mineral Resources of 388,000 ounces at 1.15 g/t and underground Measured and Indicated Mineral Resources of 139,000 ounces at 2.2 g/t Au as well as underground Inferred Mineral Resources of 165,000 ounces at 2.2 g/t Au, as published in the Company's most recent Mineral Reserve and Mineral Resource estimates effective December 31, 20252.

The Abore deposit sits along the Esaase shear corridor, which also hosts the Esaase deposit, and forms part of the northeast striking Asankrangwa gold belt. The geology of Abore is characterized by a sedimentary sequence composed primarily of siltstones, shales and thickly bedded sandstones that has been intruded by a granite, which lies parallel to the shear and dipping steeply to the northwest. The majority of mineralization is constrained to the granite, hosted in west dipping quartz vein areas developed primarily along the eastern margin of the granite/sediment contact.

[](https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_006full.jpg)

Figure 6: Abore plan map showing current drilling locations and highlighted intercepts. Select cross sections (I,B and H shown with brown lines above) are included in this press release. Additional cross sections are available on Galiano's website: https://galianogold.com/operations/exploration/.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_006full.jpg

[](https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_007full.jpg)

Figure 7: Cross section I-I1 showing hole ABDD26-477, which intercepted significant mineralization outside the underground Mineral Resource along strike to the south of the South pit high-grade zone.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_007full.jpg

[](https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_008full.jpg)

Figure 8: Cross section B-B1 showing holes ABDD26-459 and ABDD26-456, which have extended the high-grade Main pit ore shoot along strike to the north and at depth

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_008full.jpg

[](https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_009full.jpg)

Figure 9: Cross section H-H1 showing holes ABDD26-458, which intersected high-grades 180m below the existing Mineral Resource below Abore South pit

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_009full.jpg

Table 1: Current Abore Drilling Intercepts Table3,4,5

| Hole ID | From (m) | To (m) | Width (m) | Grade (g/t Au) | Intercept Description | | ABDD26-454 | 473.2 | 493.0 | 19.8 | 1.0 | 19.8m @1.0 g/t | | and | 459.1 | 467.0 | 7.9 | 0.5 | 7.9m @ 0.5 g/t | | ABDD26-456 | 456.9 | 462.6 | 5.7 | 8.4 | 5.7m @ 8.4 g/t | | and | 500.9 | 506.0 | 5.1 | 4.8 | 5.1m @ 4.8 g/t | | and | 478.0 | 484.0 | 6.0 | 1.5 | 6.0m @ 1.5 g/t | | and | 488.0 | 496.0 | 8.0 | 1.0 | 8.0m @ 1.0 g/t | | and | 445.0 | 450.9 | 5.9 | 1.1 | 5.9m @ 1.1 g/t | | ABDD26-458 | 508.0 | 529.2 | 21.2 | 3.0 | 21.2m @ 3.0 g/t | | and | 546.1 | 552.6 | 6.5 | 0.9 | 6.5m @ 0.9 g/t | | and | 17.7 | 23.2 | 5.5 | 0.6 | 5.5m @ 0.6 g/t | | ABDD26-459 | 420.0 | 451.9 | 32.0 | 4.7 | 32.0m @ 4.7 g/t | | ABDD26-460 | 333.0 | 350.1 | 17.1 | 2.4 | 17.1m @ 2.4 g/t | | and | 311.0 | 327.0 | 16.0 | 1.3 | 16.0m @ 1.3 g/t | | ABDD26-461 | 418.6 | 433.0 | 14.4 | 1.0 | 14.4m @ 1.0 g/t | | and | 379.2 | 384.4 | 5.2 | 0.8 | 5.2m @ 0.8 g/t | | ABDD26-461 | 405.4 | 409.7 | 4.3 | 0.5 | 4.3m @ 0.5 g/t | | ABDD26-463 | 341.0 | 351.2 | 10.2 | 1.0 | 10.2m @ 1.0 g/t | | ABDD26-464 | 301.4 | 312.2 | 10.8 | 4.3 | 10.8m @ 4.3 g/t | | and | 320.9 | 334.5 | 13.6 | 1.6 | 13.6m @ 1.6 g/t | | ABDD26-465 | 392.1 | 406.0 | 13.9 | 1.7 | 13.9m @ 1.7 g/t | | and | 434.0 | 440.8 | 6.8 | 0.8 | 6.8m @ 0.8 g/t | | and | 2.6 | 5.6 | 3.0 | 0.7 | 3.0m @ 0.7 g/t | | ABDD26-466 | 492.6 | 497.8 | 5.2 | 2.1 | 5.2m @ 2.1 g/t | | and | 506.7 | 514.3 | 7.6 | 0.9 | 7.6m @ 0.9 g/t | | and | 444.5 | 449.0 | 4.6 | 0.9 | 4.6m @ 0.9 g/t | | ABDD26-467 | 301.8 | 335.1 | 33.3 | 1.4 | 33.3m @ 1.4 g/t | | and | 364.0 | 374.4 | 10.4 | 1.4 | 10.4m @ 1.4 g/t | | and | 377.7 | 383.2 | 5.5 | 0.7 | 5.5m @ 0.7g/t | | ABDD26-468 | 370.6 | 400.0 | 29.4 | 2.8 | 29.4m @ 2.8 g/t | | and | 359.0 | 365.0 | 6.0 | 1.1 | 6.0m @ 1.1 g/t | | ABDD26-469 | 343.0 | 368.0 | 25.0 | 1.9 | 25.0m @ 1.9 g/t | | and | 321.0 | 338.9 | 17.9 | 2.1 | 17.9m @ 2.1 g/t | | and | 314.0 | 317.2 | 3.3 | 11.0 | 3.3m @ 11.0 g/t | | ABDD26-470 | 366.0 | 372.0 | 6.0 | 3.6 | 6.0m @ 3.6 g/t | | and | 349.6 | 362.0 | 12.4 | 1.5 | 12.4m @ 1.5 g/t | | and | 336.9 | 346.2 | 9.3 | 1.7 | 9.3m @ 1.7g/t | | ABDD26-471 | 420.0 | 428.9 | 8.9 | 3.6 | 8.9m @ 3.6 g/t | | and | 223.8 | 228.1 | 4.3 | 5.0 | 4.4m @ 5.0 g/t | | and | 404.1 | 414.0 | 9.9 | 0.7 | 9.9m @ 0.7 g/t | | ABDD26-472 | 343.1 | 374.4 | 31.3 | 2.2 | 31.3m @ 2.2 g/t | | and | 379.0 | 383.3 | 4.3 | 0.3 | 4.3m @ 0.3g/t | | ABDD26-473 | 518.0 | 539.3 | 21.3 | 1.4 | 21.3m @ 1.4 g/t | | and | 391.1 | 412.3 | 21.2 | 1.2 | 21.2m @ 1.2 g/t | | and | 498.0 | 506.0 | 8.0 | 0.9 | 8.0m @ 0.9 g/t | | and | 487.0 | 493.0 | 6.0 | 0.6 | 6.0m @ 0.6 g/t | | and | 510.0 | 514.0 | 4.0 | 0.6 | 4.0m @ 0.6 g/t | | ABDD26-474 | 316.9 | 351.0 | 34.1 | 2.2 | 34.1m @ 2.2 g/t | | and | 368.1 | 371.9 | 3.8 | 7.5 | 3.9m @ 7.5 g/t | | and | 355.6 | 362.0 | 6.4 | 3.6 | 6.4m @ 3.6 g/t | | ABDD26-477 | 179.1 | 232.0 | 52.9 | 3.9 | 52.9m @ 3.9 g/t | | ABDD26-478 | 352.4 | 369.0 | 16.6 | 3.3 | 16.6m @ 3.3 g/t | | and | 382.0 | 391.0 | 9.0 | 4.1 | 9.0m @ 4.1 g/t | | and | 302.4 | 315.0 | 12.6 | 0.6 | 12.6m @ 0.6 g/t | | ABDD26-479 | 166.6 | 178.0 | 11.4 | 2.6 | 11.4m @ 2.6 g/t | | and | 198.0 | 202.2 | 4.2 | 2.7 | 4.0m @ 2.7 g/t | | and | 224.0 | 230.0 | 6.0 | 0.8 | 6.0m @ 0.8 g/t | | ABDD26-484 | 324.0 | 330.1 | 6.1 | 0.7 | 6.1m @ 0.7 g/t | | and | 114.0 | 118.0 | 4.0 | 0.5 | 4.0m @ 0.5 g/t |

Notes: 3. Intervals reported are hole lengths with true width estimated to be 70%-90%. 4. Intervals are not top cut and are calculated with the assumptions of > 0.5 g/t and < 3m of internal waste. 5. All samples are taken from diamond core.

Qualified Person and QA/QC

Chris Pettman, P. Geo, Vice President Exploration of Galiano, is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Pettman is responsible for all aspects of the work, including the Data Verification and Quality Control/Quality Assurance programs and has verified the data disclosed, by reviewing all data and supervising its compilation. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date. Mr. Pettman is not independent of Galiano.

Certified Reference Materials and Blanks are inserted by Galiano into the sample stream at the rate of 1:14 samples. Field duplicates are collected at the rate of 1:30 samples. All samples have been analyzed by Photon assay by Intertek Minerals Ltd. ("Intertek") in Tarkwa, Ghana with standard preparation methods. ChrysosTM Photon assay uses high energy X-ray to activate gold nuclei in a large sample ca. 500g. Photon assay uses a larger sample, thus the variance on the sampling error is less. Crushing the sample to 2-3mm is required in many cases. Photon assay tends to have a higher detection limit than fire assay (0.02ppm). Intertek does its own introduction of QA/QC samples into the sample stream and reports them to Galiano for double checking. Higher grade samples are re-analyzed from pulp or reject material or both. Intertek is an international company operating in 100 countries and is independent of Galiano. It provides testing for a wide range of industries including the mining, metals, and oil sectors.

Contact Information Darshan Sundher Toll-Free (N. America): 1-855-246-7341 Telephone: 1-778-239-0446 Email: info@galianogold.com

About Galiano Gold Inc.

Galiano is focused on creating a sustainable business capable of value creation for all stakeholders through production, exploration and disciplined deployment of its financial resources. The Company owns and operates the Asanko Gold Mine, which is located in Ghana, West Africa. Galiano is committed to the highest standards for environmental management, social responsibility, and the health and safety of its employees and neighbouring communities. For more information, please visit www.galianogold.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements and information contained in this news release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which we refer to collectively as "forward-looking statements". Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future conditions and courses of action. All statements and information other than statements of historical fact may be forward looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.

Forward-looking statements in this news release include, but are not limited to statements regarding the Company's expectations and timing with respect to current and planned drilling programs at Abore, and the results thereof; the potential to optimize and/or expand the Abore Reserve pit and the resulting impact on mineral reserves and ore delivery; the Company's belief in the potential of Abore; the Company's plan to report a maiden underground Mineral Resource at Abore, and the Company's plans to update the mineral resources and mineral reserves. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: development plans and capital expenditures; the price of gold will not decline significantly or for a protracted period of time; the accuracy of the estimates and assumptions underlying mineral reserve and mineral resource estimates; the Company's ability to raise sufficient funds from future equity financings to support its operations, and general business and economic conditions; the global financial markets and general economic conditions will be stable and prosperous in the future; the ability of the Company to comply with applicable governmental regulations and standards; the mining laws, tax laws and other laws in Ghana applicable to the AGM will not change, and there will be no imposition of additional exchange controls in Ghana; the success of the Company in implementing its development strategies and achieving its business objectives; the Company will have sufficient working capital necessary to sustain its operations on an ongoing basis and the Company will continue to have sufficient working capital to fund its operations; and the key personnel of the Company will continue their employment. The foregoing list of assumptions cannot be considered exhaustive.