Molefe Project Drilling Update, Zambia

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 [phone]
Beaumont Cornish Limited - Nomad Roland Cornish/James Biddle	Tel [phone]
Novum Securities Limited - Joint Broker Colin Rowbury /Jon Belliss	[phone]
Shard Capital Partners LLP - Joint Broker Damon Heath	Tel [phone]

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.

 

END