VANCOUVER, BC, Jan. 18, 2022 /PRNewswire/ - Galiano Gold Inc. ("Galiano" or the "Company") (TSX: GAU) (NYSE: GAU) is pleased to provide an update of drilling results from its 2021 exploration program at the Asanko Gold Mine ("AGM"), located in Ghana. The AGM is a 50:50 joint venture ("JV") with Gold Fields Ltd (JSE, NYSE: GFI), with the JV managed and operated by Galiano.

Exploration activity in the first half of 2021 focused on Miradani North (drill results were reported in news releases dated February 25, 2021 and May 20, 2021). Exploration activity in the second half of the year focused on expanding existing resources and testing near-mine targets at three properties: Dynamite Hill, Kaniago West and Midras South. A summary of each of these properties along with detailed drilling results are shown below.

Dynamite Hill Highlights
30 holes have been drilled at Dynamite Hill in 2021, totalling 6,110m (3,897m diamond core ("DC") and 2,213m reverse circulation ("RC")), including the following highlighted intercepts:

Hole DYPC21-124 intersected 5.1m at 10.5 g/t Au (from 232.9m)
Hole DYPC21-125 intersected 23.8m at 1.9 g/t Au (from 201.2m)
Hole DYPC21-139 intersected 40.1m at 2.4 g/t Au (from 146m)
Hole DYPC21-140 intersected 33.2m at 2.6 g/t Au (from 140m)
Kaniago West Highlights
27 holes have been drilled at Kaniago West in 2021, totalling 4,508m (1,600m DC and 2,908m RC), including the following highlighted intercepts:

Hole KNPC21-008 intersected 25m at 1.2 g/t Au (from 243m)
Hole KNPC21-009 intersected 11.6m at 3.6 g/t Au (from 196.4m), 14.4m at 1.5 g/t Au, (from 215.6m), and 11.0m at 1.2 g/t Au (from 260m)
Hole KNRC21-017 intersected 24m at 1.8 g/t Au (from 33m)
Midras South Highlights
19 holes have been drilled at Midras South in 2021, totalling 3,724m (1,163m DC and 2,561m RC), including the following highlighted intercepts:

Hole MSPC21-088 intersected 6m at 8.6 g/t Au (from 65m)
Hole MSPC21-096 intersected 8m at 5.3 g/t Au (from 275m)
Hole MSPC21-098 intersected 6m at 2.8 g/t Au (from 103m), and 19.2m at 9.1 g/t Au (from 184m)
"The results from the drilling at Dynamite Hill, Kaniago West and Midras South demonstrate the long term exploration potential at the AGM," said Matt Badylak President and Chief Executive Officer. "We will publish an updated Mineral Reserve and Resource statement later in Q1, 2021 which will include a maiden Mineral Resource for Miradani and a Mineral Reserve and Resource for Dynamite Hill, a previously operating pit. Both Kaniago West and Midras South are located within a 10km radius of the processing plant and have shown promising intercepts. We expect to continue to drill out these properties in 2022. In addition to these targets our 2022 drilling will also focus on exploring the underground potential at both Nkran and Miradani. Deep drilling at both projects is planned to commence in early 2022."

Dynamite Hill Overview (see Table 1 for full drilling results)
The Dynamite Hill deposit is located on the Adubea Mining Lease, approximately 7km northeast of the AGM's processing plant (shown in Figure 1). The AGM mined the previous Reserve base at the deposit, with mining being completed in late 2019. However, indicated mineralization remained open at depth at cessation of mining. Recent drilling has confirmed that indicated mineralization continues to 100m+ beneath the existing pit bottom. As pictured in Figures 3 and 4, this indicated mineralization appears to be supported at depth with indicated geological continuity. Select intercepts from Dynamite Hill include:

Hole DYPC21-123 intersected 33.4m at 1.5 g/t Au (from 189.7m)
Hole DYPC21-124 intersected 5.1m at 10.5 g/t Au (from 232.9m)
Hole DYPC21-125 intersected 23.8m at 1.9 g/t Au (from 201.2m)
Hole DYPC21-126 intersected 4.8m at 3.0 g/t Au (from 147.2m)
Hole DYPC21-127 intersected 14m at 1.9 g/t Au (from 149m)
Hole DYPC21-128 intersected 9m at 1.9 g/t Au (from 39m), 7m at 1.5 g/t Au (from 190m), and 13.5m at 1.6 g/t Au (from 213.5m)
Hole DYPC21-129 intersected 14m at 1.0 g/t Au (from 23m), and 45m at 0.9 g/t (from 202m) Hole DYPC21-130 also returned 23m @ 0.7 g/t Au, (from 180m)
Hole DYPC21-132 returned 11.04m @ 1.8 g/t Au, (from 135.8m)
Hole DYPC12-134 intersected 54m at 1.2 g/t Au (from 156m)
Hole DYPC12-139 intersected 40.1m at 2.4 g/t Au (from 146m)
Hole DYPC21-140 intersected 12m at 0.8 g/t Au (from 25m), and 33.2m at 2.6 g/t Au (from 140m)
The Dynamite Hill deposit is situated along the Nkran shear zone, a laterally extensive structure recognized from airborne VTEM and magnetic surveys and extensively mapped on the ground. The Nkran shear zone plays host to the Nkran, Akwasiso and Asuadai deposits, part of the prominent northeast striking Asankrangwa gold belt.

Indicated mineralization at Dynamite Hill is spatially associated with two en echelon, steeply west dipping tonalite intrusives that have preferentially intruded along a northeast trending corridor. Of note, a second, much smaller vertical to steeply east dipping mineralised structure was discovered during this campaign. Indicated mineralization occurs in the intrusives and in the surrounding deformed sandstone, siltstone and phyllite rock package in a similar fashion to the nearby Nkran deposit. These intrusives are believed to act as excellent hosts to mineralising fluids. Stratigraphy and structure are both steeply dipping to the northwest as they do for most of the Asankrangwa Belt gold deposits. Indicated gold mineralization at Dynamite Hill occurs in quartz veins and in association with silica flooding, pyrite, arsenopyrite, and traces of base metal sulfides, within a broader envelope of quartz-sericite-pyrite and carbonate alteration.

Kaniago West Overview (See Table 1 for full drilling results)
The Kaniago West prospect, acquired as part of the Midlands Mineral Corporation property transaction in 2015 (see news release dated March 25, 2015) is conveniently located just 5km NW of the AGM's processing plant (shown in Figure 1). Recent drilling has intersected broad zones of quartz breccia and veining with associated visible gold mineralization beneath and along strike from narrow, near surface zones discovered by Midlands. Indicated mineralization remains open at depth and along strike. Select intercepts from Kaniago West include:

Hole KNPC21-008 intersected 25m at 1.2 g/t Au (from 243m)
Hole KNPC21-007 intersected 10m at 1.4 g/tAu (from 91m)
Hole KNPC21-009 intersected 11.6m at 3.6 g/t Au (from 196.4m), 14.4m at 1.5 g/t Au, (from 215.6m), and 11.0m at 1.2 g/t Au (from 260m)
Hole KNPC21-012 intersected 7m at 12.6 g/tAu (from 51m), and 14m @ 1.7 g/t Au (from 63m)
Hole KNRC21-017 intersected 24m at 1.8 g/t Au (from 33m)
The Kaniago West prospect lies along the Esaase - Abore shear zone, a laterally extensive structure recognized from airborne VTEM and magnetic surveys and extensively mapped on the ground. The structure plays host to the Esaase and Abore deposits, part of the prominent northeast striking Asankrangwa gold belt. Anomalous gold-in-soils can be traced for several kilometres NE of the current Kaniago West drilling and as yet untested alluvial gold workings can be seen to the SW.

Indicated mineralization at Kaniago West is developed within a package of deformed sandstone, siltstone and phyllite. Stratigraphy and structure are both steeply dipping to the northwest as they do for most of the Asankrangwa Belt gold deposits. Indicated gold mineralization at Kaniago West occurs in association with silica flooding [and] distinctive stylolitic quartz veining (similar to that noted at Esaase) with patchy visible gold and pyrite, within a broader envelope of quartz-sericite-pyrite and carbonate alteration.

Midras South Overview (See Table 1 for full drilling results)
Midras South is located on the Datano Mining Lease, 5km south of the AGM's processing plant (shown in Figure 1). The drill program at Midras South was designed to expand on the known mineralized systems in the area, and although only partially completed due to access issues, did provide some of the better high grade intercepts this year to date. Select intercepts from Midras South include:

Hole MSPC21-088 intersected 6m at 8.6 g/t Au (from 65m)
Hole MSPC21-089 intersected 9.7m at 2.4 g/t Au (from 187m)
Hole MSPC21-096 intersected 8m at 5.3 g/t Au (from 275m)
Hole MSPC21-098 intersected 6m at 2.8 g/t Au (from 103m), and 19.2m at 9.1 g/t Au (from 184m)
Hole MSRC21-106 intersected 6m at 2.9 g/t Au (from 5m), and 8m at 2.1 g/t Au (from 58m)
The Midras South prospect lies along the Takorase - Afraso shear zone, a laterally extensive structure recognized from airborne VTEM and magnetic surveys and extensively mapped on the ground. Midras South consists of 3 distinct zones of indicated mineralization, inferred to be fault offsets of the one ore zone.

Similar in character to Esaase and Kaniago West, indicated mineralization at Midras South is developed within a package of deformed sandstone, siltstone and phyllite. Stratigraphy and structure are both steeply dipping to the northwest as they do for most of the Asankrangwa Belt gold deposits. Indicated gold mineralization at Midras South occurs in association with quartz veining, arsenopyrite and pyrite, within a broader envelope of quartz-sericite-pyrite and carbonate alteration.

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