Galiano Gold Inc (GAU)

Leading Independent Proxy Advisory Firms Recommend Galiano Gold's Shareholders Vote FOR All Proposed ResolutionsJune 2, 2026 4:40 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - June 2, 2026) - Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) ("Galiano" or the "Company") is pleased to announce that both Institutional Shareholder Services Inc. ("ISS") and Glass Lewis and Co., LLC ("Glass Lewis") have recommended that Galiano's shareholders vote FOR all of the proposed resolutions that will considered at the Company's Annual General and Special Meeting of Shareholders (the "Meeting"), which will be held virtually on Thursday, June 11, 2026, at 10:00 am PDT. ISS and Glass Lewis are two leading independent proxy advisory firms that, among other services, provide voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.Galiano Gold Inc.'s Annual General and Special Meeting of ShareholdersThe Meeting will be held online at https://meetnow.global/M6UMQK9 for the following purposes:To fix the number of directors to be elected at eight;To elect directors of the Company for the ensuing year;To re-appoint the auditor of the Company for the ensuing year and to authorize the directors to fix the auditor's remuneration;To approve the Company's Omnibus Equity Incentive Plan; andTo authorize and approve a non-binding advisory resolution accepting the Company's approach to executive compensation.Galiano shareholders are encouraged to read the meeting materials in detail and cast their votes prior to the proxy voting deadline. Copies of the meeting materials are available under Galiano's profile on SEDAR+ at www.sedarplus.com and under the "Investors" section on Galiano's website at https://galianogold.com/investors/annual-meeting/default.aspx.YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAYThe Board of Directors UNANIMOUSLY recommends that shareholders vote FOR all proposed resolutions that will be considered at the Meeting.The proxy voting deadline is at 10:00 a.m., Pacific Time, on Tuesday, June 9, 2026.How to voteGaliano shareholders can vote their shares using the following methods:Voting for Registered Shareholders (shares represented by a physical certificate or DRS Statement)Internet – Go to www.investorvote.com, enter your 15-digit control number found on your form of proxy and vote your shares.Telephone – Call 1-866-732-8683, enter your 15-digit control number and follow the interactive voice control instructions to vote your shares.Voting for Non-Registered/Beneficial Shareholders (shares held with a broker, bank or other intermediary)Internet – Go to www.proxyvote.com, enter your 16-digit control number found on your voting instruction form ("VIF") and vote your shares.Telephone – Call the toll-free number listed on the VIF, enter your 16-digit control number and follow the interactive voice control instructions to vote your shares.Shareholder QuestionsGaliano's shareholders who have questions about the Meeting or the Meeting resolutions can contact the Company's strategic shareholder communications advisor and proxy solicitation agent, Laurel Hill Advisory Group, by telephone toll-free at 1-877-452-7184 in North America or 1-416-304-0211 for international calls or by e-mail at assistance@laurelhill.com. Contact InformationDarshan Sundher
Toll-Free (N. America): 1-855-246-7341
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 operates and manages 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.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299877 Original: Leading Independent Proxy Advisory Firms Recommend Galiano Gold's Shareholders Vote FOR All Proposed Resolutions

Galiano Gold Releases 2025 Sustainability ReportJune 1, 2026 5:05 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - June 1, 2026) - Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) ("Galiano" or the "Company") is pleased to announce the release of its 2025 Sustainability Report (the "Report"), covering both its corporate office and the Asanko Gold Mine (the "AGM"). The Report highlights the Company's continuous progress on its environmental, social, and governance performance and outlines its vision for sustainability going forward.2025 Sustainability Report Highlights: EnvironmentZero significant environmental incidents.Strong performance in environmental audit, affirming our operational standards in Ghana.Rosewood forestry and cashew farming trials launched on reclaimed land.Social, Health & SafetyFive-Year Socio-Economic Development Plan launched to guide the delivery of long-term community development and social investment initiatives.99.9% of the AGM's workforce are Ghanaian nationals.367 Ghanaian businesses supported.AGM won the Occupational Health and Safety category in Ghana's Annual Mine Audit, First Aid and Safety Competition. GovernanceSignificant progress on implementation of Human Rights Impact Assessment Action Plan, with the majority of recommendations completed ahead of schedule.Established and operationalized a Technical Committee of the Board of Directors.Published new Tailings Management Policy.To view or download a copy of the Report, please see the Sustainability section of Galiano's website at https://www.galianogold.com/sustainability/reports-and-publications/default.aspxAbout 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 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.Contact InformationDarshan Sundher
Toll-Free (N. America): 1-855-246-7341
Email: info@galianogold.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299672 Original: Galiano Gold Releases 2025 Sustainability Report

Galiano Gold Announces Revisions to Omnibus Equity Incentive PlanMay 22, 2026 9:28 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - May 22, 2026) - Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) ("Galiano" or the "Company")  announced today that its Board of Directors (the "Board") has approved certain amendments to its proposed Omnibus Equity Incentive Plan (the "Plan"), having considered suggestions from Institutional Shareholder Services to make changes to the Plan that are consistent with the Company's current policies and practices. The Board has approved amendments to the Plan to require shareholder approval for the following:amendments that extend the term of stock options beyond the original expiry date;amendments that reduce the exercise price of any stock options or share appreciation rights for the benefit of an eligible participant;amendments that permit the cancellation of a stock option and replacement of such option with an option with a lower exercise price;amendments to the definition of an "eligible participant" that may permit the introduction or reintroduction of non-employee directors on a discretionary basis, or amendments that increase the limits set forth in the Plan regarding non-employee director participation;amendments that would permit stock options granted under the Plan to be transferable or assignable other than for estate settlement purposes; andamendments to the amendment provisions of the Plan that would grant additional powers to the Board to amend the Plan or entitlements without shareholder approval.The amended Plan has been filed on SEDAR+ and in the Company's filings with the U.S. Securities and Exchange Commission. The amended Plan replaces the version of the Plan included in Appendix B of the Company's Management Information Circular dated April 30, 2026 (the "Circular"). For additional information regarding the Plan, please refer to the disclosure contained in the Circular. Shareholders will be asked to approve the amended Plan at the upcoming Annual General & Special Meeting to be held on June 11, 2026 (or any adjournment or postponement thereof).The Company's Board recommends shareholders vote FOR the Plan. Unless you give other instructions, the management proxyholders intend to vote FOR the Plan.The Toronto Stock Exchange has conditionally approved the amended Plan.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 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.Contact InformationDarshan Sundher
Toll-Free (N. America): 1-855-246-7341
Email: info@galianogold.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298682 Original: Galiano Gold Announces Revisions to Omnibus Equity Incentive Plan

With Gold Above $4,500 and Crews on the Ground, This Permitted Tanzanian Developer Just Closed Its Funding StackMay 20, 2026 9:15 AM
PR Newswire (US) Issued on behalf of Lake Victoria Gold Ltd.Lake Victoria Gold closes the final tranche of its convertible debenture financing as sterilization drilling advances at the fully permitted Imwelo Gold Project — moving the Company another step closer to construction in a record gold-price environment.USA News Group News CommentaryVANCOUVER, BC, May 20, 2026 /PRNewswire/ -- Gold spent the past twelve months printing a sequence of records that has reset the financial calculus of the entire mining sector. Between May 2025 and May 2026, the bullion price climbed from roughly US$3,335 to a recent range of US$4,500–US$4,700 per ounce, a year-over-year gain of more than 40%. [1] J.P. Morgan now forecasts a Q4 2026 average of US$5,055; TD Securities models a full-year 2026 average of US$4,831 with highs near US$5,400. [2] Q1 2026 global gold demand reached 1,231 tonnes worth a record US$193 billion, up 74% in dollar value year-on-year. [2] The metal has become, by any reasonable measure, the trade of the decade. In that environment, capital chases two kinds of companies. The first is the major producer with operating mines that translate every dollar of price into cash flow. The second — quieter, smaller, and more leveraged to outcomes — is the near-term developer who has a permitted project, a credible plan to fund it, and crews actually on the ground. Today's news puts one of those names a step closer to that transition.Lake Victoria Gold Closes the StackLake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) announced today that it has completed the second tranche of its non-brokered private placement of unsecured convertible debentures, bringing aggregate gross proceeds raised to date to C$3,834,200. In light of continued strong investor participation, the Company also announced its intention to upsize the financing to up to C$5 million, subject to TSX Venture Exchange approval. The financing, alongside the previously announced binding term sheet with Monetary Metals & Co. for a gold loan facility of up to US$25 million, which the Company continues to advance toward definitive documentation and closing, forms part of the broader funding strategy being assembled to advance its fully permitted Imwelo Gold Project in Tanzania toward construction.The debenture structure is straightforward. Each debenture bears 5% interest paid semi-annually in cash, matures 36 months from issuance, and is convertible at the holder's option into common shares at a conversion price of C$0.30 per share. Investors in the 2nd tranche also received warrants exercisable at C$0.40 for 36 months — 499,997 warrants in this tranche and 6,390,324 warrants across the two tranches in total. Proceeds will be deployed against ongoing engineering, mine planning, infrastructure preparation, and development activities at Imwelo, with additional support for the Tembo Project and general corporate purposes. [3]Importantly, the financing is closing while activity at site is already underway, rather than as a precondition to mobilization. That sequencing matters.Sterilization Drilling Now UnderwayLake Victoria Gold commenced its sterilization drilling program on May 12, 2026. The program is designed not to find gold, but to confirm that the ground beneath planned plant facilities, waste rock placement areas, haul roads, and other surface infrastructure is not itself mineralized — a critical pre-construction workstream that locks in final infrastructure placement and detailed site layout. [3]As of the announcement, 8 of 21 planned boreholes have been completed, representing roughly 39% of the program and 411 metres of the planned 1,050 metres. Drilling is expected to continue through May and early June. Results will support final infrastructure placement, detailed engineering and mine planning, final pit design and scheduling, and ongoing geotechnical work. [3]Marc Cernovitch, CEO & Director of Lake Victoria Gold, commented: "The continued support for this financing reflects growing confidence in Imwelo and our broader development strategy in Tanzania. Importantly, site activities are now actively underway, with sterilization drilling having commenced on May 12th in support of final infrastructure placement and detailed site engineering.  With drilling and multiple technical workstreams progressing in parallel, we continue to advance Imwelo toward construction readiness while maintaining our focus on a disciplined pathway toward near-term gold production."[3]Why Imwelo Stands OutImwelo is not a discovery story. It is a permitted, near-term construction story located 12 km west of AngloGold Ashanti's Geita Gold Mine in northern Tanzania, one of East Africa's most prolific gold-producing regions. The project is fully permitted for mine construction and production, and underwent a JORC-compliant 2021 pre-feasibility study. Subsequent metallurgical testwork has confirmed gold recoveries of up to ~97% using a conventional gravity + carbon-in-leach flowsheet — a result that materially de-risks the processing assumptions feeding the project's economics. Construction is targeted for later in 2026 with first gold expected in 2027. [4]The funding stack now in place reflects a deliberate choice to minimize equity dilution at this stage. On April 1, 2026, the Company announced a binding term sheet with Monetary Metals & Co. for a gold loan facility of up to 6,000 ounces of gold (approximately US$25 million at recent prices) — a non-dilutive, project-level structure with repayment denominated in gold ounces rather than cash, aligning the facility with future production from Imwelo. The Company has continued to advance the Monetary Metals facility toward closing in parallel with site activity. [4] The convertible debentures closed today layer on top of that financing, providing additional flexibility through engineering and mine planning.This is the kind of capital structure that has historically marked the inflection point in a developer's life cycle: permits in hand, funding sources structured, drilling moving from exploration to engineering support, and a clear line of sight to a construction decision.And There's TemboWhile Imwelo is the near-term production lever, Lake Victoria Gold's flagship Tembo Project remains the larger long-term value proposition. The Company holds a 100% interest in Tembo, which sits directly adjacent to Barrick Mining Corporation's Bulyanhulu mine — a high-grade, narrow-vein underground gold operation that has anchored Tanzanian gold production since 2001 and forms part of a combined Tier 1 complex (with North Mara) producing more than 500,000 ounces of gold annually. More than 50,000 metres of drilling has already been completed on the Tembo property. [4]Under an Asset Purchase Agreement signed in December 2021 and executed in 2022, Lake Victoria Gold sold six prospecting licenses to Bulyanhulu Gold Mine Limited — a joint venture between Barrick and the Government of Tanzania — with the deal structured to include up to US$45 million in contingent payments tied to future discoveries or defined resource thresholds on those licenses. Quarterly exploration updates from Barrick on those licenses have continued to advance the geological understanding of the Tembo Inlier. The Company retains its 100% interest in the surrounding Tembo property, where management believes the same Bulyanhulu-style mineralization may extend. [4]Taifa Group, Tanzania's largest mining contractor with more than 30 years of experience and long-standing relationships with Barrick, AngloGold Ashanti, Petra, and De Beers, is the strategic partner providing contract mining and civil works for Imwelo through its wholly-owned subsidiary Taifa Mining. Taifa also holds an equity stake in Lake Victoria Gold. [4]Four Names Riding the Same WaveLake Victoria Gold is far from the only publicly traded gold name benefiting from the current price environment. A look at recent quarterly results and corporate updates from peer gold producers and developers shows just how much capital is flowing through the sector right now.Perpetua Resources Corp. (Nasdaq: PPTA)Perpetua is advancing the Stibnite Gold Project in central Idaho, which the Trump administration has fast-tracked as part of the U.S. critical minerals strategy. The Company broke ground on early works construction in October 2025 and on May 11, 2026 reported Q1 2026 results highlighting that the U.S. Export-Import Bank has advanced an approximately US$2.7 billion proposed senior secured loan to a final board vote, with multiple permitting milestones also progressing. [5] A final investment and construction decision is expected in the second half of 2026. The project carries gold reserves of approximately 4.8 million ounces and is projected to produce ~450,000 ounces annually over its first four years, while supplying up to 35% of U.S. antimony demand during its first six years. EPCM responsibilities are being handled by Hatch Ltd. [6]Galiano Gold Inc. (NYSE American: GAU)Galiano operates the Asanko Gold Mine in Ghana — a direct West African producer comp. The Company reported Q1 2026 results on May 13, 2026, with gold production of 34,747 ounces, up 68% year-over-year, and revenue of US$166.5 million on an average realized gold price of US$4,857 per ounce. Net income reached US$32.7 million and adjusted EBITDA hit US$93.4 million, up 364% from Q1 2025. The Company ended the quarter with US$114.9 million in cash and no debt. [7] Full-year production guidance of 140,000–160,000 ounces was maintained, and the 2026 exploration budget was increased from US$17 million to US$25 million following positive initial results at Esaase. [7]Orla Mining Ltd. (NYSE: ORLA)Orla, which operates the Camino Rojo mine in Mexico and the Musselwhite mine in Ontario, reported Q1 2026 results on May 11, 2026 — beating consensus on both EPS and revenue. Q1 gold production was 81,206 ounces, generating US$378.9 million in revenue and US$75.4 million in net income, with operating cash flow of US$103.5 million and a cash position of US$427 million. [8] The Company is advancing the South Railroad project in Nevada toward a mid-2026 construction decision, with an updated feasibility study showing an after-tax NPV (5%) of US$1.7 billion and a 95% IRR at US$4,500/oz gold. South Railroad is projected to move Orla toward annual production of 500,000 ounces across its portfolio. [8]Caledonia Mining Corporation Plc (NYSE American: CMCL)Caledonia operates the Blanket Mine in Zimbabwe and is advancing the Bilboes Gold Project, also in Zimbabwe, toward construction — a profile that closely mirrors the producer-plus-developer model Lake Victoria Gold is targeting. Q1 2026 results, reported on May 11, 2026, showed revenue up 18.3% to US$66.4 million and EBITDA up 50.2% to US$33.9 million, with average realized gold prices climbing 66.3% to US$4,816 per ounce. Free cash flow more than doubled to US$12.3 million. [9] In January 2026, Caledonia closed a US$150 million convertible senior notes offering — one of Zimbabwe's largest overseas fundraisings in nearly a decade — to advance Bilboes, where a November 2025 Feasibility Study supported expected production of approximately 200,000 ounces in the first full year with first gold targeted for late 2028. [10]Where Lake Victoria Gold FitsEach of those four names sits at a different point on the producer-to-developer spectrum, but the common thread is clear: when gold trades above US$4,500, a permitted project with a credible funding stack and crews on site is a structurally scarce asset. Lake Victoria Gold is targeting exactly that profile. Imwelo is fully permitted. Metallurgical recoveries of ~97% are confirmed. The funding picture is structured and advancing — a binding term sheet for up to US$25 million in non-dilutive gold-denominated debt from Monetary Metals, plus the C$3.83 million convertible debenture financing closed today. Sterilization drilling is roughly 39% complete and tracking on schedule. Construction is targeted for later in 2026; first gold is expected in 2027. The Tembo Project, with its 50,000-metre drilling history adjacent to Barrick's Bulyanhulu mine and up to US$45 million in contingent Barrick payments still in play, sits behind it as a multi-year exploration lever.Whether the share price ultimately reflects that pathway depends on execution, gold's own trajectory through 2026 and 2027, and a long list of factors outside the Company's control — Tanzanian fiscal and regulatory developments, capital cost inflation, construction sequencing, and the rest of the universe of mining-development risk. But the disciplined pathway toward near-term gold production that Lake Victoria Gold's CEO referenced today is one that the broader market is currently pricing at a premium across the sector.The Bottom LineGold is sitting at multi-decade real-price highs. Institutional forecasters are calling for US$5,000+ by year-end. Capital is flowing back into the development cohort across every gold-producing jurisdiction in the world. Against that backdrop, Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) has closed the final tranche of its convertible debenture financing, continues to advance a binding-term-sheet US$25 million Monetary Metals gold loan facility toward definitive close, mobilized rigs to its fully permitted Imwelo Gold Project, and reported that 39% of its sterilization drilling program is already complete. Construction-stage workstreams are now progressing in parallel. As always, investors should do their own research and consult a qualified financial advisor before making any decision.For more information on Lake Victoria Gold Ltd., visit: https://usanewsgroup.com/lvg-landingContact:
USA News Group
info @therooster-2873Sources:[1] https://fortune.com/article/current-price-of-gold-05-18-2026/[2] https://goldsilver.com/industry-news/article/gold-price-outlook-may-2026-why-institutional-forecasters-still-see-5000/[3] https://lakevictoriagold.com/news/[4] https://www.streetwisereports.com/article/2026/05/11/gold-explorer-mobilizes-rigs-targets-breakthrough-in-tanzania.html[5] https://www.prnewswire.com/news-releases/perpetua-resources-announces-first-quarter-2026-financial-results-302768145.html[6] https://www.prnewswire.com/news-releases/perpetua-resources-breaks-ground-on-the-stibnite-gold-project-302590660.html[7] https://www.galianogold.com/news/news/news-details/2026/Galiano-Gold-Reports-First-Quarter-2026-Results/default.aspx[8] https://orlamining.com/news/orla-mining-reports-first-quarter-2026-financial-results/[9] https://www.accessnewswire.com/newsroom/en/metals-and-mining/caledonia-mining-corporation-plc-abridged-and-unaudited-quarterly-results-and-det-1165629[10] https://www.stocktitan.net/news/CMCL/caledonia-outlines-funding-strategy-to-advance-the-bilboes-gold-rpqe0qqxh5h6.htmlDISCLAIMER / DISCLOSURE:Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice.Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group  is a wholly-owned subsidiary of Market IQ Media Group, Inc. (MIQ). MIQ has been paid a fee for Lake Victoria Gold Ltd. advertising And digital media. There may also be 3rd parties who may have shares of Lake Victoria Gold Ltd. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Lake Victoria Gold Ltdand reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101. Mr. Scottis a registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company. Cautionary Note on Production Decision: Although Imwelo has been the subject of JORC-compliant PEA, PFS and updated PFS work, these foreign-code studies are not current under NI 43-101. The Company has not completed a feasibility study on Imwelo that establishes mineral reserves demonstrating economic and technical viability and isnot treating the JORC-based estimates or analyses as current under CIM Definition Standards. Any decision to commence production is not based on a feasibility study of mineral reserves and therefore involves increased uncertainty and a higher risk of economic and technical failure. There is no certainty that the planned low-capex open-pit operation will be economically viable or that production will occur as anticipated. Risks include, without limitation, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational, regulatory, orpermitting risks.; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to bereliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur asexpected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.Logo - https://mma.prnewswire.com/media/2838876/5979874/USA_News_Group_Logo.jpg View original content to download multimedia:https://www.prnewswire.com/news-releases/with-gold-above-4-500-and-crews-on-the-ground-this-permitted-tanzanian-developer-just-closed-its-funding-stack-302777398.htmlSOURCE USA News Group Original: With Gold Above $4,500 and Crews on the Ground, This Permitted Tanzanian Developer Just Closed Its Funding Stack

Galiano Gold Reports First Quarter 2026 ResultsMay 13, 2026 6:00 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - May 13, 2026) - Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) ("Galiano" or the "Company") is pleased to report its first quarter ("Q1") 2026 operating and financial results. Galiano owns a 90% interest in the Asanko Gold Mine ("AGM") located on the Asankrangwa Gold Belt in the Republic of Ghana, West Africa.All financial information contained in this news release is unaudited and reported in United States dollars. Q1 2026 HIGHLIGHTSSafetyNo lost-time injuries ("LTI") nor total recordable injuries (inclusive of LTIs) ("TRI") recorded. The AGM has achieved 8.8 million hours worked without an LTI as of March 31, 2026.12-month rolling LTI and TRI frequency rates as of March 31, 2026 of 0.00 and 0.11 per million hours worked, respectively. FinancialCash and cash equivalents of $114.9 million as of March 31, 2026 and no debt.Generated cash flow from operating activities of $46.7 million during Q1 2026, an 80% increase from Q1 2025.Income from mine operations of $72.5 million during Q1 2026. Net income of $0.13 and adjusted net income1 of $0.11 per common share (basic) during Q1 2026. Adjusted EBITDA1 of $93.4 million during Q1 2026, an increase of 364% from Q1 2025.Mining OperationsMined 1.5 million tonnes ("Mt") of ore at an average mined grade of 0.9 grams per tonne ("g/t") gold with a strip ratio of 6.0:1. Approximately 70% of mined ore was from the Abore deposit.Processing1.3 Mt of ore was milled at an average feed grade of 0.9 g/t, with metallurgical recovery averaging 90%. Mill availability during Q1 2026 was 89% due to a planned 5-day maintenance shutdown.Produced 34,747 ounces of gold, a 68% increase compared to Q1 2025, and in line with the Company's first half indicative production range.Sold 34,181 ounces of gold at a record quarterly average price of $4,857 per ounce ("/oz"), excluding the effect of realized losses on gold hedging instruments.Nkran Cut 3 DevelopmentDevelopment of Cut 3 at the Nkran deposit continued with 4.7 Mt of waste mined. Additional mining equipment is expected to be mobilized during Q2 2026 and, thereafter, mined volumes at Nkran are forecast to increase significantly.Capitalized development pre-stripping costs at Nkran Cut 3 of $13.5 million.CostsAll-in sustaining costs1 ("AISC") of $2,361/oz, a 6% decrease compared to Q1 2025 despite higher royalties expense.FY 2026 AISC1 guidance has been revised to between $2,300/oz and $2,600/oz (previously $2,000/oz and $2,300/oz), resulting from the amendment to Ghana's royalty framework.ExplorationDrilled 11,578 meters ("m") at the Abore deposit, which consisted of infill and step-out drilling up to 200m below the existing underground Mineral Resource boundary. Drilling successfully indicated extension of mineralization at depth, along strike, and across previously untested areas outside the current underground Mineral Resource. Highlights from the Q1 2026 Abore drilling program, as reported in the Company's news release dated May 11, 2026, included:Main pit ore shoot expanded ~95m further down dip to the north;~200m of strong mineralization defined between the Main pit ore shoot and the saddle zone;High-grade intercept below the northern end of Main pit, which remains open; andHigh-grade mineralization intersected up to 180m below the current underground Mineral Resource.Completed 2,501m of infill drilling at Esaase to support the conversion of Inferred Mineral Resources to the Indicated category. Following successful initial results, the Company has expanded the FY 2026 exploration budget by $7.5 million to complete a total program of 33,000m at Esaase."The AGM delivered another quarter of strong, consistent operational performance, building on the momentum we have established through 2025," said Matt Badylak, Galiano's President and CEO. "From a growth and mine-life extension perspective, we are pleased to have a clear line of sight to near-term mineral reserve expansion. At Esaase, mineral resource conversion drilling progressed well during the quarter, supporting an expansion of the program from 9,500 metres to 33,000 metres. Esaase represents a critical growth opportunity and will play a key role in developing a robust long-term mine plan. Importantly, we remain on track to deliver 140,000 to 160,000 ounces of gold production this year and are approaching a meaningful cash flow inflection point as hedges roll off, deferred payment is completed in December, and production continues to ramp up toward 2027."Conference Call and WebcastManagement will host a conference call and webcast to discuss the results of Q1 2026 at 10:30am ET (7:30am PT) on May 14, 2026. Please refer to the details below to join the conference call or the webcast.Conference Call Participant DetailsWebcast URLhttps://www.gowebcasting.com/14680LocalToronto: 1-647-932-3411North American toll-free 1-800-715-9871Conference ID9798035Conference ReplayURL https://www.gowebcasting.com/14680 SUMMARY OF QUARTERLY OPERATIONAL AND FINANCIAL HIGHLIGHTS
Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Health and SafetyLTIs(1)----2TRIs(1)--1-312-month rolling LTI frequency rate0.000.240.390.420.43Mining OperationsOre mined ('000t)1,5211,5751,6051,3651,296Waste mined ('000t)9,0848,3379,0678,1018,314Strip ratio (waste-to-ore)6.05.35.75.96.4Average gold grade mined (g/t)0.90.90.80.80.8Mining costs ($/t mined)3.733.943.383.593.31Ore tonnes trucked ('000 t)1,1631,0691,2881,0301,053Ore transportation costs ($/t trucked)4.424.454.354.494.43ProcessingOre milled ('000t)1,3051,3691,2831,1931,086Average mill head grade (g/t)0.91.00.90.80.8Average recovery rate (%)9091918987Processing costs ($/t milled)12.7912.1312.5712.8914.37General and administrative costs ($/t milled)7.097.586.626.245.78Gold produced (oz)34,74737,57432,53330,35020,734Development Stripping – Nkran Cut 3Waste mined ('000t)4,7074,3243,4261,723810Mining costs ($/t mined)2.852.483.294.003.98Development capitalized stripping costs ($m)13.511.112.06.93.2Capital ExpendituresSustaining capital ($m)3.64.44.22.21.3Development capital ($m)3.40.72.94.93.3Sustaining capitalized stripping costs ($m)6.411.711.915.111.9Financial, Costs and Cash FlowGross revenue ($m)166.5159.7114.297.376.6Gold sold (oz)34,18138,27632,57729,28726,994Average gold sales price - gross ($/oz)(2)4,8574,1643,5013,3172,833Average gold sales price - net ($/oz)(3)4,1223,7443,0992,9512,651AISC ($/oz sold)(4)2,3612,0332,2832,2512,501Income (loss) from mine operations ($m)72.551.110.024.7(19.8)Adjusted net income (loss) ($m)(4)29.540.0(2.8)21.00.4Adjusted EBITDA ($m)(4)93.485.537.839.920.1Cash flow from operating activities ($m)46.755.840.435.825.9 (1) The Company records and reports injuries in accordance with the International Council on Mining and Metals' (ICMM) Mining Principles.
(2) Gross average gold sales price is a non-IFRS measure and calculated by dividing revenue, as reported in the Company's consolidated financial statements, by the number of gold ounces sold during the period.
(3) Net average gold sales price is a non-IFRS measure and calculated by dividing revenue less realized losses on gold hedge derivative instruments, as reported in the Company's consolidated financial statements, by the number of gold ounces sold during the period.
(4) Refer to "Non-IFRS Performance Measures" in this news release.MiningMined 1.1 Mt of ore at the Abore deposit at an average grade of 0.9 g/t gold and a strip ratio of 6.1:1. Mined grades and strip ratio were largely consistent with Q4 2025.Mined 0.4 Mt of ore at the Esaase deposit at an average grade of 0.7 g/t gold and a strip ratio of 5.9:1. Ore tonnes mined were higher in Q1 2026 compared to Q4 2025 due to the temporary suspension of mining at Esaase in Q4 2025 that resulted from a community incident.Mining costs per tonne at Abore and Esaase averaged $3.73 per tonne ("/t") in Q1 2026, compared to $3.31/t in Q1 2025. The 13% increase in mining costs per tonne in Q1 2026 was attributable to higher drill and blast costs, resulting from mining a higher proportion of fresh rock at Abore, and increasing mining depths and haul distances.ProcessingThe AGM produced 34,747 ounces of gold during Q1 2026, a decrease of 8% from Q4 2025, as the processing plant milled 1.3 Mt of ore at an average grade of 0.9 g/t gold with metallurgical recovery averaging 90%. Mill throughput in Q1 2026 was 5% lower than Q4 2025 due to a planned 5-day shutdown of the processing plant to complete a mill reline and other maintenance activities.Approximately 60% of the mill feed was sourced from mined ore at Abore, with the remainder of mill feed primarily from the Esaase deposit.Processing costs per tonne for Q1 2026 was $12.79, an 11% decrease from Q1 2025. The decrease in processing costs per tonne was largely driven by higher mill throughput volumes, partly offset by costs associated with a mill reline and other maintenance activities in Q1 2026.CostsAISC1 for Q1 2026 was $2,361/oz, compared to $2,501/oz in Q1 2025. The decrease in AlSC1 resulted from a 27% increase in gold ounces sold in Q1 2026, partly offset by a $10.0 million increase in royalties. Relative to Q4 2025, AISC1 increased by 16% in Q1 2026 due to lower gold sales volumes and a $3.1 million increase in royalties.Nkran Cut 3Nkran Cut 3 waste stripping continued during the quarter with 4.7 Mt of waste rock mined during Q1 2026, an increase of 9% from Q4 2025.Mining costs per tonne at Nkran was $2.85 for Q1 2026, compared to $3.98/t in Q1 2025. The decrease in mining costs per tonne was attributable to higher tonnes mined.Nkran Cut 3 development capitalized stripping costs totaled $13.5 million during Q1 2026. Waste stripping volumes are expected to rise following the mobilization of additional mining equipment during Q2 2026.Capital ExpendituresSustaining capital expenditures totaled $3.6 million during Q1 2026, an increase of $2.3 million compared to Q1 2025. The increase in sustaining capital expenditures was largely driven by costs associated with a tailings facility expansion.Development capital expenditures during Q1 2026 totaled $3.4 million, in line with Q1 2025. Development capital expenditures in Q1 2026 related primarily to costs associated with relocating villages near the AGM's operations.ExplorationDuring Q1 2026, 11,578m of drilling completed at Abore of a planned program total of 32,000m of diamond drilling, which aims to grow the underground Mineral Resource through step-out drilling to at least 200m below the maiden underground Mineral Resource. Results received to date continue to demonstrate exceptional Mineral Resource growth potential at Abore. 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.A program of infill drilling is planned for Esaase through 2026, which is designed to convert existing open pit mineral resources from the Inferred to Indicated category, and has the potential to significantly increase the Esaase mineral reserve and support planning for potential future open pit expansion. Phase 1 of the Esaase infill drilling program consists of a planned 9,000m focused on the Main pit. The drilling commenced ahead of schedule in February with a rolling mobilization of up to four drill rigs operational by the end of Q1 2026. 2,501m of drilling was completed in Q1 2026. Following successful early results in Phase 1, the Company has committed to the full program of 33,000m, which is estimated to cost an additional $7.5 million in 2026 than previously guided. Balance SheetThe Company has maintained a strong cash position with $114.9 million as of March 31, 2026 and no debt.CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025
Three months ended March 31,(All amounts in 000's of US dollars, except per share amounts)20262025Gross revenue166,52476,590Income (loss) from mine operations72,453(19,756)Net income (loss) attributable to common shareholders32,691(26,806)Net income (loss) per share attributable to common shareholders - basic0.13(0.10)Adjusted net income attributable to common shareholders(1)29,515388Adjusted net income per share attributable to common shareholders(1)0.110.00Adjusted EBITDA(1)93,42520,130Cash and cash equivalents114,936106,381Cash generated from operating activities46,68925,892 The Company sold 34,181 ounces of gold in Q1 2026 at a quarterly record average gold price (before the effect of realized hedging losses) of $4,857/oz for gross revenue of $166.5 million. The increase in revenue from the comparative period was due to a 71% increase in average gold sales prices and a 27% increase in gold ounces sold. The average gold sales price, including the effect of realized gold hedging losses, for Q1 2026 amounted to $4,122/oz.Income from mine operations for Q1 2026 totaled $72.5 million, compared to a loss of $19.8 million in Q1 2025. The increase in income from mine operations was due to higher revenues as described above. This was partly offset by higher royalties expense in Q1 2026 due to higher earned revenues and the introduction of a sliding scale royalty by the Government of Ghana, effective March 10, 2026.The Company reported net income attributable to common shareholders of $32.7 million in Q1 2026, or $0.13 per common share, compared to a net loss of $26.8 million in Q1 2025, or a loss of $0.10 per common share. The increase in net income during Q1 2026 was primarily due to higher recorded revenues, partly offset by higher royalties and income taxes.Reported Adjusted EBITDA1 of $93.4 million in Q1 2026, compared to $20.1 million in Q1 2025. The increase in Adjusted EBITDA1 was primarily driven by higher revenues, partly offset by higher royalties, as described above.The Company generated $46.7 million of cash flow from operating activities during Q1 2026, compared to $25.9 million in Q1 2025. The increase in operating cash flow was primarily driven by higher average gold sales prices and gold ounces sold during the current quarter.This news release should be read in conjunction with Galiano's Management's Discussion and Analysis and the Unaudited Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2026 and 2025, which are available at www.galianogold.com and filed on SEDAR+. 1 Non-IFRS Performance MeasuresThe Company has included certain non-IFRS performance measures in this news release. These non-IFRS performance measures do not have any standardized meaning and therefore may not be comparable to similar measures presented by other issuers. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Refer to "Non-IFRS Measures" of Galiano's Management's Discussion and Analysis for an explanation of these measures and reconciliations to the Company's reported financial results in accordance with IFRS.Total Cash Costs per Gold Ounce SoldManagement of the Company uses total cash costs per gold ounce sold to monitor the operating performance of the AGM. Total cash costs include the costs of gold production, adjusted for costs allocated to by-products and production royalties per ounce of gold sold.AISC per Gold Ounce SoldThe Company has adopted the reporting of "AISC per gold ounce sold". AISC includes total cash costs, AGM general and administrative expenses, sustaining capital expenditure, sustaining capitalized stripping costs, reclamation cost accretion and lease payments made on the AGM's mining and other service lease agreements per ounce of gold sold.EBITDA and Adjusted EBITDAEarnings before interest, taxes, depreciation and amortization ("EBITDA") provides an indication of the Company's continuing capacity to generate income from operations before taking into account the Company's financing decisions and costs of amortizing capital assets. Accordingly, EBITDA comprises net income (loss) excluding finance expense, finance income, depreciation and depletion expense, and income taxes. Adjusted EBITDA adjusts EBITDA to exclude non-recurring items and non-cash items ("Adjusted EBITDA").Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Common ShareThe Company has included the non-IFRS performance measures of adjusted net income (loss) and adjusted net income (loss) per common share. Neither adjusted net income (loss) nor adjusted net income (loss) per share have any standardized meaning and are therefore unlikely to be comparable to other measures presented by other issuers. Adjusted net income (loss) excludes certain non-cash items, and items of income or expense not expected to recur in the future, from net income (loss) to provide a measure which helps the Company and investors to evaluate the results of the underlying core operations of the Company and its ability to generate cash flows and is an important indicator of the strength of the Company's operations and performance of its core business.Qualified PersonThe exploration information contained in this news release has been reviewed and approved by Mr. Chris Pettman, P.Geo, Vice President Exploration of Galiano.All other scientific and technical information contained in this news release has been reviewed and approved by Mr. Amri Sinuhaji, P.Eng., Vice President Technical Services of Galiano. Mr. Pettman and Mr. Sinuhaji are "Qualified Persons" as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.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 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.Contact InformationDarshan Sundher
Toll-Free (N. America): 1-855-246-7341
Email: info@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 operating plans for the AGM and timing thereof; expectations and timing with respect to current and planned drilling programs, including at Abore and Esaase, and the results thereof; the focus of the 2026 exploration programs; expectations and timing with respect to ramping up of mining activities at Nkran; anticipated production and cost guidance; expectations regarding reporting an underground mineral reserve, including the timing thereof; expectations regarding cash flows from operations; any additional work programs to be undertaken by the Company; potential exploration opportunities and statements regarding the usefulness and comparability of certain non-IFRS measures; total cash costs and corresponding cost performance relating to the Company's activities; and details of the upcoming conference call and webcast. 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 AGM will not experience any significant uninsured production disruptions that would materially affect revenues; 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.Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: the mineral reserve and mineral resource estimates may change and may prove to be inaccurate; exploration activities may not result in the delineation of additional mineral resources or the conversion of mineral resources into mineral reserves within anticipated timelines, or at all; life of mine estimates are based on a number of factors and assumptions and may prove to be incorrect; actual production, costs, returns and other economic and financial performance may vary from the Company's estimates in response to a variety of factors, many of which are not within the Company's control; inflationary pressures and the effects thereof; sustained increases in costs, or decreases in the availability, of commodities consumed or otherwise used by the Company may adversely affect the Company; adverse geotechnical and geological conditions (including geotechnical failures) may result in operating delays and lower throughput or recovery, closures or damage to mine infrastructure; the ability of the Company to treat the number of tonnes planned, recover valuable materials, remove deleterious materials and process gold as planned is dependent on a number of factors and assumptions which may not be present or occur as expected; risks related to artisanal and illegal mining activities at or near the AGM, including that the Company's mineral properties may experience a loss of ore, and the Company may experience lack of access to its mineral properties and other issues, which may impact planned production levels; the Company's operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; the ability of the Company to manage procurement risks, including securing timely and cost-effective equipment and services, and mitigate risks related to supplier performance, fraud, collusion, bribery, kickbacks and unethical procurement practices; outbreaks of infectious diseases may have a negative impact on global financial conditions, demand for commodities and supply chains and could adversely affect the Company's business, financial condition and results of operations and the market price of the common shares of the Company; the Company's operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; the Company may be unsuccessful in attracting and retaining key personnel; labour disruptions could adversely affect the Company's operations; metallurgical recoveries may not be economically viable or recoveries may be lower in the future and have a negative impact on the Company's gold production and financial results; the Company's business is subject to risks associated with operating in a foreign country; risks related to the Company's use of mining and other contractors; the hazards and risks normally encountered in the exploration, development and production of gold; the Company's operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the effects of climate change or extreme weather events may cause prolonged disruption to the delivery of essential commodities which could negatively affect production efficiency; the Company's operations and workforce are exposed to health and safety risks; unexpected costs and delays related to, or the failure of the Company to obtain, necessary permits could impede the Company's operations; the Company's title to exploration, development and mining interests can be uncertain and may be contested; geotechnical risks associated with the design and operation of a mine and related civil structures; the Company's properties may be subject to claims by various community stakeholders; risks related to limited access to infrastructure and water; risks associated with establishing new mining operations; the Company's revenues are dependent on the market prices for gold, which have recently experienced significant fluctuations; the Company may not be able to secure additional financing when needed or on acceptable terms; the Company's shareholders may be subject to future dilution; risks related to changes in interest rates and foreign currency exchange rates; changes to taxation laws applicable to the Company may affect the Company's profitability and ability to repatriate funds; risks related to the Company's internal controls over financial reporting and compliance with applicable accounting regulations and securities laws; risks related to information systems security threats; the impact of technological developments on the Company's operations; non-compliance with public disclosure obligations could have an adverse effect on the Company's share price; the carrying value of the Company's assets may change and these assets may be subject to impairment charges; risks associated with changes in reporting standards; the Company may be liable for uninsured or partially insured losses; the Company may be subject to litigation; damage to the Company's reputation could result in decreased investor confidence and increased challenges in developing and maintaining community relations which may have adverse effects on the business, results of operations and financial conditions of the Company and the Company's share price; the Company may be unsuccessful in identifying targets for acquisition or completing suitable corporate transactions, and any such transactions may not be beneficial to the Company or its shareholders; the Company must compete with other mining companies and individuals for mining interests; the Company's growth, future profitability and ability to obtain financing may be impacted by global financial conditions; the Company's common shares may experience significant price and trading volume volatility; the Company has never paid dividends and does not expect to do so in the foreseeable future; the Company's shareholders may be unable to sell significant quantities of the Company's common shares into the public trading markets without a significant reduction in the price of its common shares, or at all; and any such other risk factors described under the heading "Risk Factors" in the Company's most recently filed Annual Information Form.Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in, or incorporated by reference in, this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.Neither the Toronto Stock Exchange nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this news release.Source: Galiano Gold Inc.1 Non-IFRS measure. Refer to section "Non-IFRS Performance Measures" in this news release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297370 Original: Galiano Gold Reports First Quarter 2026 Results

Galiano Gold Expands Abore Mineralized System with New Intercepts Including 32m @ 4.7 g/t Au and 53m @ 3.9 g/t AuMay 11, 2026 7:30 AM
NewsfileLatest Drilling Intersects New High-Grade Mineralization Beneath Abore Main Pit, Enhancing Resource Growth Potential Beyond Existing Underground Mineral ResourceVancouver, 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)Hole ABDD26-477 intersected 3.9 grams per tonne ("g/t") gold ("Au") over 53m from 179mHole ABDD26-459 intersected 4.7 g/t Au over 32m from 420mHole ABDD26-468 intersected 2.8 g/t Au over 29m from 371mHole ABDD26-474 intersected 2.2 g/t Au over 34m from 317mHole ABDD26-472 intersected 2.2 g/t Au over 32m from 343mHole ABDD26-458 intersected 3.0 g/t Au over 21m from 508mHole ABDD26-478 intersected 4.1 g/t Au over 9m from 382m, and 3.3 g/t Au over 17m from 480mHole ABDD26-456 intersected 8.4 g/t Au over 6m from 457m and 4.8 g/t Au over 5m from 500m Hole ABDD26-447 intersected 4.3 g/t Au over 11m from 301m Zones of Growth from Current Abore DrillingFigure 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.jpgHighlights from Current Abore Drilling IncludeHigh-grade continuity outside existing Mineral ResourceSignificantly 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.Ore zone extensionsExtension of the Main pit ore shoot by approximately 50m down plunge to the north and at depth in holes ABDD26-459 and ABDD26-456.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.New high-grade zone identified beneath the northern end of the Abore Main pit intersected in hole ABDD26-478.Expanded mineralization at depth: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 StepsThe 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 ResultsHigh-Grade Continuity Outside Existing Mineral ResourceFigure 2: Gram meter long section of Abore highlighting successful infill drilling under the saddle zone and south end of Main pitTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_002full.jpgA 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:Hole ABDD26-474 intersected: 2.2 g/t Au over 34m from 317m7.5 g/t Au over 4m from 356m3.6 g/t Au over 6m from 368m Hole ABDD26-464 intersected:4.3 g/t Au over 11m from 301m1.6 g/t Au over 14m from 321m Hole ABDD26-469 intersected:11.0 g/t Au over 3m from 313m2.1 g/t Au over 18m from 321m1.9 g/t Au over 25m from 343m Hole ABDD25-468 intersected 2.8 g/t Au over 29m from 371m Ore Zone extensionsFigure 3: Gram meter long section of Abore highlighting areas of new extensions of mineralization at the South pit and Main pit ore shootsTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_003full.jpgInfill 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:Hole ABDD26-459 intersected 4.7 g/t Au over 32m from 420m Hole ABDD26-456 intersected a broad zone of mineralization with multiple intercepts:8.4 g/t Au over 6m from 457m4.8 g/t Au over 5m from 501m1.5 g/t Au over 6m from 478m1.1 g/t Au over 6m from 445m1.0 g/t Au over 8m from 488mNew High-Grade Zone Identified Beneath Abore Main PitFigure 4: Gram meter long section of Abore highlighting new high-grade mineralization below the northern end of Main pitTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_004full.jpgA 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: 4.1 g/t Au over 9m from 382m 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.Step-Out Drilling Continues to Expand Mineralization at DepthFigure 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.jpgTwo 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 21m from 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:Hole ABDD26-473 intersected:1.4 g/t Au over 21m from 518m1.2 g/t Au over 21m from 391mBackgroundAbore 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.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.jpgFigure 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.jpgFigure 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 depthTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_008full.jpgFigure 9: Cross section H-H1 showing holes ABDD26-458, which intersected high-grades 180m below the existing Mineral Resource below Abore South pitTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3796/296849_4fb2b0ae54b34a52_009full.jpgTable 1: Current Abore Drilling Intercepts Table3,4,5 Hole IDFrom (m)To (m)Width (m)Grade
(g/t Au)Intercept DescriptionABDD26-454473.2493.019.81.019.8m @1.0 g/tand459.1467.07.90.57.9m @ 0.5 g/tABDD26-456456.9462.65.78.45.7m @ 8.4 g/tand500.9506.05.14.85.1m @ 4.8 g/tand478.0484.06.01.56.0m @ 1.5 g/tand488.0496.08.01.08.0m @ 1.0 g/tand445.0450.95.91.15.9m @ 1.1 g/tABDD26-458508.0529.221.23.021.2m @ 3.0 g/tand546.1552.66.50.96.5m @ 0.9 g/tand17.723.25.50.65.5m @ 0.6 g/tABDD26-459420.0451.932.04.732.0m @ 4.7 g/tABDD26-460333.0350.117.12.417.1m @ 2.4 g/tand311.0327.016.01.316.0m @ 1.3 g/tABDD26-461418.6433.014.41.014.4m @ 1.0 g/tand379.2384.45.20.85.2m @ 0.8 g/tABDD26-461405.4409.74.30.54.3m @ 0.5 g/tABDD26-463341.0351.210.21.010.2m @ 1.0 g/tABDD26-464301.4312.210.84.310.8m @ 4.3 g/tand320.9334.513.61.613.6m @ 1.6 g/tABDD26-465392.1406.013.91.713.9m @ 1.7 g/tand434.0440.86.80.86.8m @ 0.8 g/tand2.65.63.00.73.0m @ 0.7 g/tABDD26-466492.6497.85.22.15.2m @ 2.1 g/tand506.7514.37.60.97.6m @ 0.9 g/tand444.5449.04.60.94.6m @ 0.9 g/tABDD26-467301.8335.133.31.433.3m @ 1.4 g/tand364.0374.410.41.410.4m @ 1.4 g/tand377.7383.25.50.75.5m @ 0.7g/tABDD26-468370.6400.029.42.829.4m @ 2.8 g/tand359.0365.06.01.16.0m @ 1.1 g/tABDD26-469343.0368.025.01.925.0m @ 1.9 g/tand321.0338.917.92.117.9m @ 2.1 g/tand314.0317.23.311.03.3m @ 11.0 g/tABDD26-470366.0372.06.03.66.0m @ 3.6 g/tand349.6362.012.41.512.4m @ 1.5 g/tand336.9346.29.31.79.3m @ 1.7g/tABDD26-471420.0428.98.93.68.9m @ 3.6 g/tand223.8228.14.35.04.4m @ 5.0 g/tand404.1414.09.90.79.9m @ 0.7 g/tABDD26-472343.1374.431.32.231.3m @ 2.2 g/tand379.0383.34.30.34.3m @ 0.3g/tABDD26-473518.0539.321.31.421.3m @ 1.4 g/tand391.1412.321.21.221.2m @ 1.2 g/tand498.0506.08.00.98.0m @ 0.9 g/tand487.0493.06.00.66.0m @ 0.6 g/tand510.0514.04.00.64.0m @ 0.6 g/tABDD26-474316.9351.034.12.234.1m @ 2.2 g/tand368.1371.93.87.53.9m @ 7.5 g/tand355.6362.06.43.66.4m @ 3.6 g/tABDD26-477179.1232.052.93.952.9m @ 3.9 g/tABDD26-478352.4369.016.63.316.6m @ 3.3 g/tand382.0391.09.04.19.0m @ 4.1 g/tand302.4315.012.60.612.6m @ 0.6 g/tABDD26-479166.6178.011.42.611.4m @ 2.6 g/tand198.0202.24.22.74.0m @ 2.7 g/tand224.0230.06.00.86.0m @ 0.8 g/tABDD26-484324.0330.16.10.76.1m @ 0.7 g/tand114.0118.04.00.54.0m @ 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/QCChris 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 StatementsCertain 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.Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: mineral reserve and mineral resource estimates may change and may prove to be inaccurate; metallurgical recoveries may not be economically viable; life of mine estimates are based on a number of factors and assumptions and may prove to be incorrect; actual production, costs, returns and other economic and financial performance may vary from the Company's estimates in response to a variety of factors, many of which are not within the Company's control; inflationary pressures and the effects thereof; the AGM has a limited operating history and is subject to risks associated with establishing new mining operations; sustained increases in costs, or decreases in the availability, of commodities consumed or otherwise used by the Company may adversely affect the Company; adverse geotechnical and geological conditions (including geotechnical failures) may result in operating delays and lower throughput or recovery, closures or damage to mine infrastructure; the ability of the Company to treat the number of tonnes planned, recover valuable materials, remove deleterious materials and process ore, concentrate and tailings as planned is dependent on a number of factors and assumptions which may not be present or occur as expected; the Company's mineral properties may experience a loss of ore due to illegal mining activities; the Company's operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; outbreaks of COVID-19 and other infectious diseases may have a negative impact on global financial conditions, demand for commodities and supply chains and could adversely affect the Company's business, financial condition and results of operations and the market price of the common shares of the Company; the Company's operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; the Company may be unsuccessful in attracting and retaining key personnel; labour disruptions could adversely affect the Company's operations; recoveries may be lower in the future and have a negative impact on the Company's financial results; the lower recoveries may persist and be detrimental to the AGM and the Company; the Company's business is subject to risks associated with operating in a foreign country; risks related to the Company's use of contractors; the hazards and risks normally encountered in the exploration, development and production of gold; the Company's operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the effects of climate change or extreme weather events may cause prolonged disruption to the delivery of essential commodities which could negatively affect production efficiency; the Company's operations and workforce are exposed to health and safety risks; unexpected costs and delays related to, or the failure of the Company to obtain, necessary permits could impede the Company's operations; the Company's title to exploration, development and mining interests can be uncertain and may be contested; geotechnical risks associated with the design and operation of a mine and related civil structures; the Company's properties may be subject to claims by various community stakeholders; risks related to limited access to infrastructure and water; risks associated with establishing new mining operations; the Company's revenues are dependent on the market prices for gold, which have experienced significant recent fluctuations; the Company may not be able to secure additional financing when needed or on acceptable terms; the Company's shareholders may be subject to future dilution; risks related to changes in interest rates and foreign currency exchange rates; risks relating to credit rating downgrades; changes to taxation laws applicable to the Company may affect the Company's profitability and ability to repatriate funds; risks related to the Company's internal controls over financial reporting and compliance with applicable accounting regulations and securities laws; risks related to information systems security threats; non-compliance with public disclosure obligations could have an adverse effect on the Company's stock price; the carrying value of the Company's assets may change and these assets may be subject to impairment charges; risks associated with changes in reporting standards; the Company may be liable for uninsured or partially insured losses; the Company may be subject to litigation; damage to the Company's reputation could result in decreased investor confidence and increased challenges in developing and maintaining community relations which may have adverse effects on the business, results of operations and financial conditions of the Company and the Company's share price; the Company may be unsuccessful in identifying targets for acquisition or completing suitable corporate transactions, and any such transactions may not be beneficial to the Company or its shareholders; the Company must compete with other mining companies and individuals for mining interests; the Company's growth, future profitability and ability to obtain financing may be impacted by global financial conditions; the Company's common shares may experience price and trading volume volatility; the Company has never paid dividends and does not expect to do so in the foreseeable future; the Company's shareholders may be unable to sell significant quantities of the Company's common shares into the public trading markets without a significant reduction in the price of its common shares, or at all; and the risk factors described under the heading "Risk Factors" in the Company's Annual Information Form.Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in, or incorporated by reference in, this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.1 See press release "Galiano Gold expands Abore high-grade footprint with multiple intercepts in latest drilling including 14.2 g/t Au Over 15m and 4.7 g/t Au over 24m" dated January 29, 2025.
2 See press release "Galiano Gold Announces 2025 Guidance and Provides Mineral Reserve And Mineral Resource Update" dated January 28, 2025.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296849 Original: Galiano Gold Expands Abore Mineralized System with New Intercepts Including 32m @ 4.7 g/t Au and 53m @ 3.9 g/t Au

Galiano Gold 2026 Annual General and Special Meeting InformationMay 1, 2026 5:30 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - May 1, 2026) - Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) ("Galiano" or the "Company") advises its Annual General and Special Meeting of shareholders ("AGM") will be held as a fully virtual meeting on Thursday, June 11, 2026, at 10:00 am PDT. Shareholders who intend to participate in the AGM should refer to the Company's Management Information Circular (the "Proxy Circular") for details regarding how to participate.The AGM is being held to: (i) receive the audited financial statements of the Company for its fiscal year ended December 31, 2025, and the report of the auditor thereon; (ii) fix the number of directors to be elected at eight; (iii) elect directors of the Company for the ensuing year; (iv) appoint the auditor of the Company for the ensuing year and to authorize the directors to fix the auditor's remuneration; (v) to approve the Company's proposed Omnibus Equity Incentive Plan; and (vi) authorize and approve a non-binding advisory resolution accepting the Company's approach to executive compensation.The Company has nominated eight nominees for election as directors, being current directors Paul Wright, Judith Mosely, Dawn Moss, Greg Martin, Moira Smith, Navin Dyal, Lauren Roberts and Matt Badylak.The Company has elected to use the notice-and-access provisions under National Instrument 51-102 – Continuous Disclosure Obligations and National Instrument 54-101 – Communication with Beneficial Owners of Securities of a Reporting Issuer for the AGM. Materials for the AGM, including the Proxy Circular, have been filed under the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov and are also available on the Company's website at www.galianogold.com/investors/annual-meeting.Any shareholder who wishes to receive a paper copy of the Proxy Circular should contact the Company at Suite 1640, 1066 West Hastings Street, Vancouver, British Columbia, V6E 3X1, by telephone: (604) 683-8193, by telephone toll-free: 1-855-246-7341, by fax: (604) 683-8194 or by email: info@galianogold.com. A shareholder may also use the toll-free number noted above to obtain additional information about the notice-and-access provisions.Contact Information
Toll-Free (N. America): 1-855-246-7341
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 operates and manages 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. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295403
Original: Galiano Gold 2026 Annual General and Special Meeting Information

Galiano Gold Provides Notice of First Quarter 2026 ResultsApril 10, 2026 8:30 AM
NewsfileVancouver, British Columbia--(Newsfile Corp. - April 10, 2026) - Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) ("Galiano" or the "Company") is pleased to announce it will release its first quarter ("Q1") 2026 financial and operating results after market close on May 13, 2026. The Company will host a conference call and webcast to review the Q1 2026 results on May 14, 2026, at 7:30am PT.Conference Call DetailsDate:May 14, 2026Time:10:30am ET (7:30am PT)Dial In:1-647-932-3411Toll-Free:1-800-715-9871Conference IDID 9798035Replay Link:https://www.gowebcasting.com/14680  The conference call will be webcast https://www.gowebcasting.com/14680 and can be accessed on Galiano's website: 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 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.Contact Information
Toll-Free (N. America): 1-855-246-7341
Telephone: 1-778-239-0446
Email: info@galianogold.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291893
Original: Galiano Gold Provides Notice of First Quarter 2026 Results

Galiano Gold Announces Inclusion in the GDXJMarch 17, 2026 8:00 AM
NewsfileVancouver, British Columbia--(Newsfile Corp. - March 17, 2026) - Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) ("Galiano" or the "Company") is pleased to announce its inclusion in the VanEck Junior Gold Miners ETF ("GDXJ"), following the GDXJ's most recent semi-annual review and rebalancing, with the change taking effect at the close of markets on March 20, 2026.The GDXJ is one of the most widely followed exchange-traded funds in the precious metals sector, offering investors a way to gain exposure to a global basket of junior and mid-tier gold and silver producers, developers, and explorers."Inclusion in the GDXJ represents a meaningful milestone for Galiano and reflects the hard work and dedication of our team in advancing the Company," said Matt Badylak, President and CEO of Galiano Gold. "We believe Galiano's addition to the GDXJ will enhance our profile, expand access to a broader investor base as we continue our momentum, execute our organic production profile and create long-term value for our shareholder."For more information on the GDXJ, please visit: https://www.vaneck.com/us/en/investments/junior-gold-miners-etf-gdxj.Contact Information
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 StatementsCertain 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 inclusion in the GDXJ and its impact on raising the Company's profile with passive investors and enhancing trading liquidity.Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in, or incorporated by reference in, this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288767
Original: Galiano Gold Announces Inclusion in the GDXJ

Galiano Gold Delivers Annual Mineral Reserve and Mineral Resource Update, Highlighted by Maiden Underground Mineral Resources at Nkran and AboreFebruary 12, 2026 5:15 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - February 12, 2026) - Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) ("Galiano" or the "Company") is pleased to provide updated Mineral Reserve and Mineral Resource ("MRMR") estimates for the Asanko Gold Mine ("AGM"), effective December 31, 2025, including maiden underground Mineral Resources at the Nkran and Abore deposits. Galiano owns a 90% interest in the AGM, located on the Asankrangwa Gold Belt in the Republic of Ghana, West Africa. All dollar amounts contained in this news release are in United States dollars.MINERAL RESERVE HIGHLIGHTSMineral Reserve EstimateProven and Probable Mineral Reserves of 47.5 million tonnes ("Mt") at 1.29 grams per tonne ("g/t") for 1.97 million ounces ("Moz") gold contained.Mineral Reserves were reported based on gold prices of $1,900 per ounce ("/oz") for Esaase, $1,700/oz for Nkran, Abore, Adubiaso, and Midras South, and $1,500/oz for Miradani North and Dynamite Hill.MINERAL RESOURCE HIGHLIGHTSOpen Pit Mineral ResourcesMeasured and Indicated Mineral Resources for open pit mines of 77.0 Mt at 1.27 g/t for 3.14 Moz gold contained, inclusive of Mineral Reserves.Inferred Mineral Resources are estimated at 20.7 Mt at 1.14 g/t for 0.76 Moz gold contained. Open pit Mineral Resources were reported based on gold prices of $2,400/oz for Esaase, Adubiaso and Midras South, and $1,800/oz for Miradani North, Akwasiso, Asuadai and Dynamite Hill. Open pit Mineral Resources for Nkran and Abore are reported within the current Mineral Reserve pit designs.Nkran and Abore Mineral Resources are constrained to the Mineral Reserve pit design due to the reasonable prospect for eventual economic extraction of mineralized materials below the pit design, using underground mining methodology.Underground Mineral ResourcesMaiden underground Mineral Resource estimates for the Abore and Nkran deposits totaling 3.4 Mt of Indicated Mineral Resources at an average grade of 2.74 g/t, containing an estimated 0.30 Moz gold, and 6.5 Mt of Inferred Mineral Resources at an average grade of 2.52 g/t, containing an estimated 0.53 Moz gold.Underground Mineral Resource estimates are based on a gold price of $2,400/oz and a mineable stope cut-off grade of 1.5 g/t gold.Underground Mineral Resources are limited by the extent of current exploration drilling and are believed to represent a small portion of a much larger mineralizing system at Nkran and Abore, which remain open along strike and at depth beyond the current extent of Mineral Resources.The Company plans to advance near-term evaluation work to further assess the economic viability of integrating underground mining with the AGM's existing open-pit operations, with the goal of declaring an underground Mineral Reserve and incorporating underground mining into the long-term mine plan. "The maiden underground Mineral Resources at Nkran and Abore represent a new and meaningful growth avenue for Galiano, marking a clear inflection point for the Company," said Matt Badylak, Galiano's President and Chief Executive Officer. "With significant potential to expand resources at depth and along strike, we see a compelling opportunity to extend mine life, further convert resources into reserves, and unlock long-term value. As we execute our exploration strategy, we believe the AGM is well positioned to deliver sustainable growth and enhanced shareholder returns."MAIDEN UNDERGROUND MINERAL RESOURCESignificant technical work was undertaken to develop the underground Mineral Resource estimates at Nkran and Abore, which was supported by exploration drilling results received through the end 2025. Geotechnical work undertaken by the Company's Technical Team, and an independent consultant, suggests that the size, geometry and grades of the Nkran and Abore deposits are amenable to bulk underground mining extraction. Rigorous application of industry best practices in resource modeling and a technical assessment of mining methods demonstrate the positive economic prospect of underground mining at Nkran and Abore at a $2,400/oz gold price and a mineable stope cut-off grade of 1.5 g/t gold.Mineable stopes for underground Mineral Resource estimates were generated and evaluated using an MSO (Minable Shape Optimizer) software program at a stope cut-off grade of 1.5 g/t gold. Unclassified blocks, beyond Measured, Indicated and Inferred categories, due to a lack of sufficient drilling density were conservatively assumed 0 g/t grade in the stope evaluation. Subject to additional infill drilling, portions of these unclassified blocks may become economic and add to the existing Mineral Resource. The mineable shapes (MSO stopes) at both Nkran and Abore also respond well to multiple cut-off grades and show potentially good scalability in response to different economic and operational conditions (see Table 1 below with the base case for underground Mineral Resource estimates highlighted).Table 1: Sensitivity of MSO Stope Tonnage, Grade and Ounces to Various Stope Cut-Off GradesMSO Stope 
Cut-off 
Grade (g/t)Indicated Mineral ResourceInferred Mineral ResourceTonnes
(000's)Grade
(g/t)Ounces 
(000's)Tonnes
(000's)Grade
(g/t)Ounces 
(000's)1.05,2172.2337511,9781.957501.24,3692.453449,2092.196471.43,7282.643167,2792.415631.53,4442.743036,4892.525251.63,1692.832895,7862.624881.82,6633.042614,6012.854212.02,2133.272333,6563.08362 Mineralization at Nkran and Abore remains open along strike and at depth beyond the current extent of exploration drilling (see images below). Various options to expedite exploration and aggressively expand the underground Mineral Resources through drilling are being assessed, which may include an investment decision on the opening of underground access.Image 1: Nkran Long Section View of 1.5 g/t Cut-Off Grade MSO Stopes and Drillholes below Mineral Reserve PitTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3796/283757_galianoimg1.jpg Image 2: Abore Long Section View of 1.5 g/t Cut-Off Grade MSO Stopes and Drillholes below Mineral Reserve PitTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3796/283757_galianoimg2.jpgBUSINESS STRATEGY AND GROWTH INITIATIVESThe Company's strategic priority is to grow its business into a sustainable mid-tier gold producer, with a focus on organic growth and mine life extension at the AGM through continued success in our exploration strategies, as well as accretive acquisition opportunities. These objectives are underpinned by the Company's capital allocation strategy, which focuses on deployment of capital to grow the AGM's production profile, extend its mine life, maximize asset value, and ultimately return capital to shareholders. The Company's current growth initiatives are captured under the following headings, which the Company believes will drive shareholder value over the short, medium and long-term.Organic Growth at the AGMNear-Term Organic Production Growth - Improved Throughput and Higher Grades from AboreInstallation of the secondary crushing circuit in July 2025, combined with improving grades from Abore, positions the AGM for meaningful near-term production growth. Mill throughput is expected to rise by approximately 15% in FY 2026, supported by higher-grade ore sourced from lower elevations of the Abore pit through 2026 and 2027. As a result, the Company forecasts an approximate 25% increase in FY 2026 production compared to FY 2025.The AGM's Abore deposit has grown over the past two years from a satellite deposit to one of the AGM's cornerstone primary deposits, hosting open pit Probable Mineral Reserves of 9.3 Mt at 1.16 g/t for 346,000 ounces gold contained as of December 31, 2025, in addition to an underground Mineral Resource as described below.Medium-Term Production Growth - NkranFollowing the depletion of open pit Mineral Reserves at Abore, the AGM is positioned to further increase its production profile by transitioning to the higher-grade Nkran deposit. As of December 31, 2025, the Nkran deposit hosts open pit Probable Mineral Reserves of 10.6 Mt at 1.67 g/t for 570,000 ounces gold contained. Waste stripping of Nkran Cut 3 is progressing on schedule, with steady-state ore delivery to the processing plant expected by early 2029. Once in full production, the Company anticipates annual gold production well above 200,000 ounces per annum.Long-Term Growth - Underground Mining at Nkran and AboreThe known mineral deposits hosted along the four shear corridors at the AGM share common geological features, which control gold distribution and placement in the same regional tectonic setting. Importantly, these features are consistent with classic orogenic gold deposits that can extend kilometers in the vertical direction and are known to host long-life underground mines globally. In the past year, the Company's brownfield exploration strategy has focused on testing the vertical extents of mineralization at Nkran and Abore by drilling beneath the open pit Mineral Reserve shells at these deposits.On the back of successful exploration results to date, these deposits currently host underground Indicated Mineral Resources of 3.4 Mt at 2.74 g/t for 303,000 ounces gold contained and underground Inferred Mineral Resources of 6.5 Mt at 2.52 g/t for 525,000 ounces gold contained as of December 31, 2025, highlighting the scale and growth potential of the underground system below the existing open pit operations.These initial underground Mineral Resources confirm that mineralization continues below the current open pit limits, with sufficient volume, grade and geometry to potentially support economic extraction. Importantly, mineralization at both deposits remains open along strike and at depth, and further growth is expected with ongoing drilling planned for 2026. The Company's immediate priority is to expand these underground Mineral Resources through step-out drilling and advance these deposits through mining studies toward Mineral Reserve classification, thereby extending the AGM's mine life. These workstreams are targeted for completion within the next 12 to 24 months.Long-Term Growth - Esaase Mineral Reserve ExpansionGiven the extensive drilling completed at the Esaase deposit to date, and the relatively wide distribution of mineralization, it is uniquely positioned for rapid open pit Mineral Reserve expansion at current metal prices. The existing Mineral Reserve estimate is based on a long-term gold price of $1,900/oz; however, current drilling demonstrates that the Mineral Reserve continues to expand laterally and at depth without a material increase to strip ratios, up to and beyond metal prices of $2,500/oz. The objective of the Company's 2026 drilling program at Esaase is to rapidly convert Inferred Mineral Resources contained within the $2,400/oz Mineral Resource shell and perform mining studies to significantly expand Esaase's Mineral Reserve base. Such an expansion would extend the life of mine and provide an additional source of mill feed to complement potential underground ore production from Abore and Nkran. The Company expects to incorporate the results of this exploration program into the AGM's December 31, 2026 Mineral Reserve estimate and revised life of mine plan.ExplorationThe Company continues to invest significantly in exploration at the AGM and has delivered meaningful results over the past three years, including the discovery of high-grade zones at the Abore Main and South pits and successful drilling beneath the existing Mineral Reserve boundaries at Nkran and Abore.Over the next two to three years, the Company's strategic objective is to add 1.0 million to 1.5 million gold ounces to the AGM's combined open pit and underground Mineral Resources and Reserves, relative to the December 31, 2025 estimate, through continued brownfield and targeted greenfield exploration.MINERAL RESERVE AND MINERAL RESOURCE STATEMENTSThe following tables outline the MRMR estimates for the AGM, effective December 31, 2025, December 31, 2024 and December 31, 2022, as applicable, including the maiden underground Mineral Resource estimates at the Nkran and Abore deposits. The updated MRMR incorporates extensive infill and step-out drilling conducted on the Abore deposit during 2025, which resulted in the replacement of virtually all depleted Mineral Reserves compared to the December 31, 2024 Mineral Reserve estimate.AGM Mineral Resource and Mineral Reserve EstimatesTable 2: Mineral Resource Estimate as of December 31, 2025DepositMeasuredIndicatedMeasured + IndicatedInferredTonnesGradeAu ContainedTonnesGradeAu ContainedTonnesGradeAu ContainedTonnesGradeAu Contained(Mt)(g/t)(koz)(Mt)(g/t)(koz)(Mt)(g/t)(koz)(Mt)(g/t)(koz)Open Pit ("OP") Mineral ResourcesNkran---10.81.7360210.81.736022.11.0270Esaase---33.01.191,26633.01.191,26612.21.15449Abore---10.51.1538810.51.153880.30.617Miradani North---7.91.393527.91.393522.91.30122Midras South---4.91.021624.91.021621.41.0648Adubiaso---2.61.361132.61.361130.40.7610Dynamite Hill---2.21.34952.21.34951.01.2440Asuadai---1.61.23641.61.23640.11.294Akwasiso---1.41.16521.41.16520.21.289Stockpiles2.00.7247---2.00.7247---OP Total2.00.724774.91.283,09477.01.273,14120.71.14758Underground ("UG") Mineral ResourcesNkran---1.82.791641.82.791644.32.61360Abore---1.62.671391.62.671392.22.32165UG Total---3.42.743033.42.743036.52.52525OP and UG Total2.00.724778.41.353,39780.41.333,44427.21.471,283 Mineral Resource Notes:Mr. Eric Chen, P.Geo., Vice President Mineral Resources for Galiano Gold Inc., is the Qualified Person (as defined under NI 43-101) responsible for the open pit Mineral Resources statements of the Nkran, Esaase, Abore, Adubiaso, Akwasiso, Asuadai and Dynamite Hill deposits, and underground Mineral Resources statements of the Nkran and Abore deposits. Open pit Mineral Resources of Esaase and Adubiaso are reported within an optimized pit shell assuming a gold price of $2,400/oz and using various cut-off grades: 0.40 g/t gold in Oxides and 0.50 g/t gold in Transition and Fresh for Esaase, and 0.35 g/t gold for Adubiaso. Open pit Mineral Resources of Akwasiso, Asuadai and Dynamite Hill are reported within an optimized pit shell assuming a gold price of $1,800/oz and using cut-off grade of 0.45 g/t gold. Open pit Mineral Resources for Nkran and Abore are reported within the current reserve pit designs. Underground Mineral Resources of Nkran and Abore are reported below current reserve pit designs at 0 g/t cut-off grade of all materials contained inside MSO stopes, generated at 1.5 g/t gold economic cut-off grade, assuming a gold price of $2,400/oz. Metallurgical recovery of 94% is assumed for the Nkran, Adubiaso, Akwasiso, Asuadai and Dynamite Hill deposits. Metallurgical recovery for Abore assumes a constant tails grade of 0.10 g/t gold and capped at 94%. Metallurgical recovery for Esaase varies based on lithology and grade.Mr. Ertan Uludag, P.Geo., Director Mineral Resources for Galiano Gold Inc., is the Qualified Person (as defined under NI 43-101) responsible for the Mineral Resources statements of the Midras South and Miradani North deposits. Mineral Resources of Midras South are reported within an optimized pit shell assuming a gold price of $2,400/oz and using a cut-off grade of 0.35 g/t gold. Mineral Resources of Miradani North are reported within an optimized pit shell assuming a gold price of $1,800/oz and using a cut-off grade of 0.45 g/t gold. Processing recovery assumes 0.10 g/t gold residual tails with a maximum of 94.0% for Midras South and Stockpiles. Processing recovery for Miradani North assumes flat 94.0%.Mineral Resources are not Mineral Reserves and have not demonstrated economic viability. All figures have been rounded to reflect the relative accuracy of the estimates. Due to rounding, some columns or rows may not compute exactly as shown.Open pit Mineral Resources are inclusive of Mineral Reserves. All tonnages are reported as in situ dry tonnes.All quantities are reported on a 100% basis.Mineral Resources for Nkran, Esaase, Abore, Adubiaso, Midras South and Stockpiles are stated with an effective date of December 31, 2025. Mineral Resources for Miradani North, Akwasiso, Asuadai, and Dynamite Hill are stated with an effective date of December 31, 2022.Table 3: Mineral Reserve Estimate as of December 31, 2025DepositProvenProbableTotal Proven and ProbableTonnes (Mt)Au Grade 
(g/t)Au Content (koz)Tonnes (Mt)Au Grade 
(g/t)Au Content (koz)Tonnes (Mt)Au Grade (g/t)Au Content (koz)Open PitNkran---10.61.6757010.61.67570Esaase---14.81.1253114.81.12531Abore---9.31.163469.31.16346Miradani North---6.81.413106.81.41310Dynamite Hill---1.11.31451.11.3145Adubiaso---1.51.39671.51.3967Midras South---1.41.12491.41.1249Stockpiles2.00.7247 ---2.00.7247Total2.00.724745.51.311,91847.51.291,965 Mineral Reserve Notes:Mineral Reserves are reported at the point of delivery to the process plant or to stockpile. All tonnages are reported as diluted dry metric tonnes. Mineral Reserves are reported using the 2014 CIM Definition Standards.The Nkran, Esaase, Abore and Stockpiles Mineral Reserves are stated as of December 31, 2025. The Adubiaso and Midras South are stated as of December 31, 2024. Miradani North and Dynamite Hill are stated as of December 31, 2022.Mineral Reserves are reported based on gold prices of $1,900/oz for Esaase, $1,700/oz for Nkran, Abore, Adubiaso, Midras South, and $1,500/oz for Miradani North and Dynamite Hill.Mineral Reserves for Adubiaso, Midras South, Miradani North and Dynamite Hill remain unchanged from the previous estimate dated December 31, 2024 and December 31, 2022. No new drilling, mining depletion, or other material information has occurred since that time. Cut-off grades vary by deposit and oxidation. All cut-off grades are applied to the fully diluted gold grade. The Mineral Reserves are reported at the following gold cut-off grades: 0.35 g/t for Nkran, 0.50 g/t for Abore, Miradani North, and Dynamite Hill, 0.60 g/t for Esaase, 0.40 g/t for Adubiaso and Midras South.Mineral Reserves are defined within pit designs guided by pit shells derived from the optimization software, HxGN MinePlan's Minesight Economic Planner, GEOVIA Whittle™ and Datamine Studio NPVS™.Mining costs vary by pit, rock type, and pit depth. The base mining costs for Nkran, Esaase, Miradani North, Abore, Dynamite Hill, Adubiaso and Midras South are $2.63/t, $2.26/t, $1.94/t, $2.03/t, $2.29/t, $2.03/t, and $2.03/t respectively. Additional costs include fixed monthly contractor fees, grade control, community fees, owner's mining general and administrative, and other minor costs that vary by deposit and are in addition to the stated unit costs.Processing assumptions range in unit costs from $8.81/t ore to $11.52/t ore.General and administration cost assumptions range in unit costs from $5.17/t to $6.69/t ore.Ore transportation cost varies for each pit based on the haul distance. It ranges between $0.61/t ore to $5.57/t ore.Processing recovery assumes 0.10 g/t gold residual tails with a maximum of 94.0% for Nkran, Abore, Adubiaso, Midras South, Stockpiles and Esaase oxides. Processing recovery for Esaase transition and fresh ore vary by head grade and lithology, and average 76% for upper and central sandstones, and 72% for cobra. Processing recovery for Dynamite Hill and Miradani North assume flat 94.0%.Mining dilution varies between pits, with average dilution ranging from 6.0% at Miradani North to 19.0% at Abore. Mining ore loss varies between pits, with average ore loss ranging from 2.0% at Miradani North to 11.7% at Midras South.Mining ore loss varies between pits. The average mining ore loss is calculated to be 3.7%, 2.0%, 2.0%, 6.2%, 2.0%, 3.7% and 11.7%, for Nkran, Esaase, Miradani North, Abore, Dynamite Hill, Adubiaso and Midras South, respectively.The overall strip ratio (the amount of waste tonnes mined for each tonne of ore) for the AGM is 7.4:1. The strip ratio for Nkran, Esaase, Miradani North, Abore, Dynamite Hill, Adubiaso and Midras South are 12.5, 6.2, 5.6, 4.5, 9.8, 9.3, and 6.9, respectively.Figures are rounded to the appropriate level of precision for the reporting of Mineral Reserves. Due to rounding, some columns or rows may not compute as shown.Mining cost inputs are in US$/t mined. All other unit cost inputs are US$/t ore.Mr. Amri Sinuhaji, P.Eng., Vice President Technical Services for Galiano Gold Inc., is the Qualified Person (as defined under NI 43-101) responsible for the Mineral Reserve estimates.Factors that could change the mine plans or reduce the amount of the mineral reserves include: Unrecognized geological structures that may displace mineralized zones and force unanticipated changes to the mine plan, changes in metal price and exchange rate assumptions; changes in local interpretations of mineralization; changes to assumed metallurgical recoveries, mining dilution and recovery; and assumptions as to the continued ability to access the site, retain mineral and surface rights titles, maintain environmental and other regulatory permits, and maintain the social license to operate.Qualified PersonMr. Eric Chen, P.Geo., Vice President Mineral Resources of Galiano, is a Qualified Person as defined by Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101"), and has reviewed and approved the Mineral Resources statement.Mr. Amri Sinuhaji, P.Eng., Vice President Technical Services with Galiano, is a Qualified Person as defined by NI 43-101 and has approved the Mineral Reserve statement and, except for the Mineral Resources statement, all other scientific and technical information contained in this news release. Mr. Sinuhaji has verified the underlying mine plans, geological models, and modifying factors, including mining, processing, metallurgical, and economic parameters, and approves the disclosure of this information.Mr. Chris Pettman, P. Geo., Vice President Exploration of Galiano, is a Qualified Person as defined by NI 43-101 and has reviewed and approved any forward-looking exploration statements.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 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.Contact InformationDarshan Sundher
Toll-Free (N. America): 1-855-246-7341
Email: info@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 operating and development plans for the AGM and timing thereof; expectations and timing with respect to current and planned drilling programs, including at Abore, Nkran and Esaase, and the results thereof; the focus, scope and anticipated results of the 2026 exploration program; the objective to increase Mineral Reserves, including any targets for additions to Mineral Reserves through exploration activities; expectations regarding reporting of an underground Mineral Reserve, including timing thereof; expectations regarding the potential integration of underground mining with the AGM's existing open-pit operations; anticipated production levels, throughput increases, and any related production or cost guidance. 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 AGM will not experience any significant uninsured production disruptions that would materially affect revenues; 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.Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: the Mineral Reserve and Mineral Resource estimates may change and may prove to be inaccurate; exploration activities may not result in the delineation of additional Mineral Resources or the conversion of Mineral Resources into Mineral Reserves within anticipated timeframes, or at all; life of mine estimates are based on a number of factors and assumptions and may prove to be incorrect; actual production, costs, returns and other economic and financial performance may vary from the Company's estimates in response to a variety of factors, many of which are not within the Company's control; inflationary pressures and the effects thereof; sustained increases in costs, or decreases in the availability, of commodities consumed or otherwise used by the Company may adversely affect the Company; adverse geotechnical and geological conditions (including geotechnical failures) may result in operating delays and lower throughput or recovery, closures or damage to mine infrastructure; the ability of the Company to treat the number of tonnes planned, recover valuable materials, remove deleterious materials and process gold as planned is dependent on a number of factors and assumptions which may not be present or occur as expected; risks related to artisanal and illegal mining activities at or near the AGM, including that the Company's mineral properties may experience a loss of ore, and the Company may experience lack of access to its mineral properties and other issues, due to illegal mining activities; the Company's operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; the ability of the Company to manage procurement risks, including securing timely and cost-effective equipment and services, and mitigate risks related to supplier performance, fraud, collusion, bribery, kickbacks and unethical procurement practices; outbreaks of infectious diseases may have a negative impact on global financial conditions, demand for commodities and supply chains and could adversely affect the Company's business, financial condition and results of operations and the market price of the common shares of the Company; the Company's operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; the Company may be unsuccessful in attracting and retaining key personnel; labour disruptions could adversely affect the Company's operations; metallurgical recoveries may not be economically viable or recoveries may be lower in the future and have a negative impact on the Company's gold production and financial results; the Company's business is subject to risks associated with operating in a foreign country; risks related to the Company's use of mining and other contractors; the hazards and risks normally encountered in the exploration, development and production of gold; the Company's operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the effects of climate change or extreme weather events may cause prolonged disruption to the delivery of essential commodities which could negatively affect production efficiency; the Company's operations and workforce are exposed to health and safety risks; unexpected costs and delays related to, or the failure of the Company to obtain, necessary permits could impede the Company's operations; the Company's title to exploration, development and mining interests can be uncertain and may be contested; geotechnical risks associated with the design and operation of a mine and related civil structures; the Company's properties may be subject to claims by various community stakeholders; risks related to limited access to infrastructure and water; risks associated with establishing new mining operations; the Company's revenues are dependent on the market prices for gold, which have recently experienced significant fluctuations; the Company may not be able to secure additional financing when needed or on acceptable terms; the Company's shareholders may be subject to future dilution; risks related to changes in interest rates and foreign currency exchange rates; changes to taxation laws applicable to the Company may affect the Company's profitability and ability to repatriate funds; risks related to the Company's internal controls over financial reporting and compliance with applicable accounting regulations and securities laws; risks related to information systems security threats; non-compliance with public disclosure obligations could have an adverse effect on the Company's share price; the carrying value of the Company's assets may change and these assets may be subject to impairment charges; risks associated with changes in reporting standards; the Company may be liable for uninsured or partially insured losses; the Company may be subject to litigation; damage to the Company's reputation could result in decreased investor confidence and increased challenges in developing and maintaining community relations which may have adverse effects on the business, results of operations and financial conditions of the Company and the Company's share price; the Company may be unsuccessful in identifying targets for acquisition or completing suitable corporate transactions, and any such transactions may not be beneficial to the Company or its shareholders; the Company must compete with other mining companies and individuals for mining interests; the Company's growth, future profitability and ability to obtain financing may be impacted by global financial conditions; the Company's common shares may experience price and trading volume volatility; the Company has never paid dividends and does not expect to do so in the foreseeable future; the Company's shareholders may be unable to sell significant quantities of the Company's common shares into the public trading markets without a significant reduction in the price of its common shares, or at all; and any such other risk factors described under the heading "Risk Factors" in the Company's Annual Information Form.Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in, or incorporated by reference in, this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.Neither the Toronto Stock Exchange nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this news release.Source: Galiano Gold Inc.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283757
Original: Galiano Gold Delivers Annual Mineral Reserve and Mineral Resource Update, Highlighted by Maiden Underground Mineral Resources at Nkran and Abore

Galiano Gold Reports Fourth Quarter and Full Year 2025 ResultsFebruary 12, 2026 5:15 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - February 12, 2026) - Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) ("Galiano" or the "Company") is pleased to report its fourth quarter ("Q4") and full year ("FY") 2025 operating and financial results. Galiano owns a 90% interest in the Asanko Gold Mine ("AGM") located on the Asankrangwa Gold Belt in the Republic of Ghana, West Africa.All financial information contained in this news release is reported in United States dollars. Q4 AND FY 2025 HIGHLIGHTSSafetyNo lost-time injuries ("LTI") nor total recordable injuries ("TRI") reported during Q4 2025. The AGM has achieved 6.5 million hours worked without an LTI.12-month rolling LTI and TRI frequency rates as of December 31, 2025 of 0.24 and 0.48 per million hours worked, respectively.FinancialCash and cash equivalents of $108.3 million as of December 31, 2025 and no debt.Generated cash flow from operating activities of $55.8 million during Q4 2025 and $158.0 million for FY 2025.Paid $25.0 million to Gold Fields Limited during Q4 2025 to settle the first deferred acquisition cost payment.Income from mine operations of $51.1 million during Q4 2025 and $66.0 million for FY 2025. Adjusted income from mine operations 1, excluding unrealized losses on gold hedge instruments, of $68.6 million during Q4 2025 and $140.6 million for FY 2025.Net income of $0.06 and adjusted net income1 $0.15 per common share (basic) during Q4 2025. Net loss of $0.11 and adjusted net income1 of $0.23 per common share (basic) for FY 2025.Adjusted EBITDA1 of $85.5 million during Q4 2025 and $182.2 million for FY 2025.MiningMined 1.6 million tonnes ("Mt") of ore at an average mined grade of 0.9 grams per tonne ("g/t") gold and a strip ratio of 8.0:1 during Q4 2025. Mined 5.8 Mt of ore at an average mined grade of 0.9 g/t gold and a strip ratio of 7.5:1 during FY 2025.Development of Cut 3 at the Nkran deposit continued to ramp up during the quarter with 4.5 Mt of material mined, an increase of 23% compared to Q3 2025. For FY 2025, 10.7 Mt of material was mined at Nkran.Mining operations at Esaase resumed in early November 2025 following the community incident that occurred in September 2025.Processing1.4 Mt of ore was milled at an average feed grade of 1.0 g/t gold, with metallurgical recovery averaging 91% during Q4 2025. For FY 2025, 4.9 Mt of ore was milled at an average feed grade of 0.9 g/t gold, with metallurgical recovery averaging 90%. Produced 37,574 ounces of gold during the quarter, a 15% increase compared to Q3 2025. Annual gold production achieved 121,191 ounces for FY 2025, within the revised guidance range.Sold 38,276 ounces of gold during the quarter at a record quarterly average price of $4,164 per ounce ("/oz") and sold 127,134 ounces of gold for the year at an average price of $3,516/oz, excluding the effect of realized losses on gold hedging instruments.Cost and Capital ExpendituresAll-in sustaining costs1 ("AISC") of $2,033/oz in Q4 2025. AISC1 for the quarter was 11% lower compared Q3 2025 due to higher gold ounces sold. AISC1 for FY 2025 amounted to $2,233/oz, within revised guidance of between $2,200/oz to $2,300/oz. Capitalized development pre-stripping costs at Nkran Cut 3 of $11.1 million during Q4 2025 and $33.2 million for FY 2025. ExplorationResults from the Phase 2 drilling program at Abore were released2 during Q4 2025. These positive results led to an expanded drilling program with 10,907m drilled in Q4 2025. This program was designed to establish continuity of known mineralization, as well as to test for continuations of the Abore mineralizing system at depths up to 200m below previous drilling and below the Mineral Resource boundary.FY 2026 GuidanceFor FY 2026, gold production guidance at the AGM is forecast between 140,000 ounces and 160,000 ounces. Higher mined grades are expected to be progressively mined from Abore over the course of the year, therefore gold production is forecast to be weighted to the back half of FY 2026. FY 2026 gold production is forecast to increase approximately 25% compared to FY 2025.AISC1 guidance for FY 2026 is forecast between $2,000/oz and $2,300/oz at a gold price assumption of $4,500/oz and under the current royalty framework in Ghana."The fourth quarter capped off a year of strong operating momentum at the AGM, with gold production increasing for a fourth consecutive quarter and rising more than 80% compared to the first quarter of 2025. The successful commissioning and optimization of the secondary crusher has been a key milestone, lifting plant performance to near nameplate capacity, while improving mined grades at Abore continue to drive near-term organic growth," said Matt Badylak, Galiano's President and Chief Executive Officer."During the quarter, we made the first $25 million deferred payment to Gold Fields yet still closed the year with $108 million in cash. This financial strength supports our plans to advance stripping at Nkran Cut 3 in 2026 and continue executing our growth strategy in a disciplined manner. With gold production expected between 140,000 to 160,000 ounces in 2026, an increase of approximately 25% year-on-year, we are well positioned to grow production and execute on our aggressive exploration strategy to unlock the full long-term potential of the AGM."FY 2026 GUIDANCE AND OUTLOOKFY 2026 Production and Cost GuidanceThe AGM is forecast to produce between 140,000 ounces and 160,000 ounces of gold at AISC1 between $2,000/oz and $2,300/oz (at a gold price assumption of $4,500/oz). Relative to FY 2025 reported AISC1, FY 2026 AISC guidance is higher by approximately $80/oz due to higher royalties resulting from higher forecast gold prices.AISC1 guidance does not reflect the amendments to Ghana's royalty framework that have been proposed to Parliament. If the royalty amendments were ratified by Parliament, the Company's AISC1 would increase by approximately $375/oz at current spot gold prices. AISC1 for the AGM is anticipated to be lower from FY 2027 onwards compared to FY 2026 due to higher relative gold production.With the secondary crusher commissioned and continuing to be optimized, the Abore deposit is expected to provide the majority of mill feed in FY 2026, with the Esaase deposit providing supplementary ore. Higher mined grades are expected from Abore in the second half of the year, therefore gold production is forecast to be weighted to the back half of FY 2026. Given the expected ramp-up of gold production over FY 2026, the Company has provided indicative production ranges for the first and second half of 2026 as follows.
UnitH1 2026H2 2026Gold productionOz60,000 to 70,00080,000 to 90,000 As previously disclosed, gold production is expected to experience a further positive step change beyond FY 2026.Total sustaining capital expenditures are guided to $16 million to $18 million for FY 2026, excluding sustaining capitalized stripping costs. Sustaining capital expenditures in FY 2026 include the expansion of the tailings facility, minor upgrades to the processing plant, and upgrades to mine camp infrastructure.Development capital for FY 2026 is guided at between $120 million to $140 million, which primarily relates to Nkran Cut 3 waste stripping ($100 million to $120 million) and village resettlement costs.Exploration expenditures at the AGM are guided to $17 million to $19 million for FY 2026, which includes approximately 52,000 meters of drilling, as well as ground geophysics and regional prospecting and mapping. The 2026 exploration program is primarily focused on (a) infill drilling at Abore to improve data density in the underground Mineral Resource and support a potential maiden underground Mineral Reserve, (b) an initial phase of drilling to increase Mineral Reserves and Mineral Resources at Esaase by drilling the deposit in line with the current gold price environment, and (c) targeting discoveries in both near mine and greenfield areas of the AGM's tenements.SUMMARY OF QUARTERLY OPERATIONAL AND FINANCIAL HIGHLIGHTS

Q4 2025

Q3 2025

Q2 2025

Q1 2025

Q4 2024
Health and safety
LTIs(1)
-

-

-

2

1
TRIs(1)
-

1

-

3

3
12-month rolling LTI frequency rate
0.24

0.39

0.42

0.43

0.15
Mining
Ore mined ('000t)
1,575

1,605

1,365

1,296

531
Waste mined ('000t)
12,661

12,493

9,824

9,124

8,698
Strip ratio (W:O)
8.0

7.8

7.2

7.0

16.4
Average gold grade mined (g/t)
0.9

0.8

0.8

0.8

1.0
Mining cost ($/t mined) - mine-wide(2)
3.48

3.36

3.65

3.36

3.41
Mining cost ($/t mined) - producing(2)
3.94

3.38

3.59

3.31

3.41
Mining cost ($/t mined) - development(2)
2.48

3.29

4.00

3.98

-
Ore tonnes trucked ('000 t)
1,069

1,288

1,030

1,053

685
Ore transportation cost ($/t trucked)
4.45

4.35

4.49

4.43

4.75
Processing
Ore milled ('000t)
1,369

1,283

1,193

1,086

1,179
Average mill head grade (g/t)
1.0

0.9

0.8

0.8

0.9
Average recovery rate (%)
91

91

89

87

85
Processing cost ($/t milled)
12.13

12.57

12.89

14.37

15.84
General and administrative cost ($/t milled)
7.58

6.62

6.24

5.78

6.28
Gold produced (oz)
37,574

32,533

30,350

20,734

28,508
Capital expenditures
Sustaining capital ($m)
4.4

4.2

2.2

1.3

0.8
Development capital ($m)
0.7

2.9

4.9

3.3

2.0
Sustaining capitalized stripping costs ($m)
11.7

11.9

15.1

11.9

19.1
Development capitalized stripping costs - Nkran ($m)
11.1

12.0

6.9

3.2

-
Financial, costs and cash flow
Gross revenue ($m)
159.7

114.2

97.3

76.6

64.6
Gold sold (oz)
38,276

32,577

29,287

26,994

24,673
Average gold sales price - gross ($/oz)(3)
4,164

3,501

3,317

2,833

2,609
Average gold sales price - net ($/oz)(4)
3,744

3,099

2,951

2,651

2,437
AISC ($/oz sold)(5)
2,033

2,283

2,251

2,501

2,638
Income (loss) from mine operations ($m)
51.1

10.0

24.7

(19.8)
26.1
Adjusted income from mine operations ($m)(5)
68.6

35.1

26.5

10.5

17.5
Adjusted net income (loss) ($m)(5)
40.0

(2.8)
21.0

0.4

5.1
Adjusted EBITDA ($m)(5)
85.5

37.8

39.9

19.0

21.2
Cash flow from operating activities ($m)
55.8

40.4

35.8

25.9

13.8
 (1) The Company records and reports injuries in accordance with the International Council on Mining and Metals' (ICMM) Mining Principles.
(2) Total mining cost per tonne includes total mining costs for all producing deposits (Abore and Esaase) and deposits in development (Nkran). Producing mining cost per tonne reflects unit mining rates at the Abore and Esaase deposits combined, while development mining cost per tonne reflects unit mining rates at the Nkran deposit only.
(3) Gross average gold sales price is a non-IFRS measure and calculated by dividing gross revenue as reported in the Company's consolidated financial statements by the number of gold ounces sold.
(4) Net average gold sales price is a non-IFRS measure calculated by dividing gross revenue less realized losses on gold hedge derivative instruments as reported in the Company's consolidated financial statements by the number of gold ounces sold.
(5) Refer to "Non-IFRS Performance Measures" in this news release.MiningMined 1.2 Mt of ore at the Abore deposit at an average grade of 1.0 g/t gold, an increase in mined grade of 12% from Q3 2025. The strip ratio at Abore was 6.1:1, in line with Q3 2025. The Company continued to focus on accelerating mining activities at Abore with an objective of accessing higher grade ore at depth in the second half of 2026.Mining operations at Esaase resumed in early November following the community incident that occurred on September 9, 2025.Mined 0.2 Mt of ore at the Esaase deposit at an average grade of 0.7 g/t gold. The strip ratio at Esaase was 4.6:1, a decrease of 28% from Q3 2025. Mined volumes at Esaase were impacted by the community incident that occurred in September 2025 and strategically focusing mining operations on the Abore deposit for the second half of the year.Mining cost per tonne at Abore and Esaase averaged $3.94 per tonne ("/t") in Q4 2025, 16% higher than mining costs of $3.41/t at Abore in Q4 2024. The increase in mining cost per tonne was attributable to higher drill and blast costs in Q4 2025.Mining continued to ramp up at Cut 3 of the Nkran deposit with 4.5 Mt of material mined, including 0.2 Mt of ore, during Q4 2025, an increase of 23% from Q3 2025.At Nkran, mining cost per tonne was $2.48 for Q4 2025, 25% lower than Q3 2025, due to higher tonnes mined.ProcessingThe AGM produced 37,574 ounces of gold during Q4 2025, an increase of 15% from Q3 2025, as the processing plant milled 1.4 Mt of ore at an average grade of 1.0 g/t gold with metallurgical recovery averaging 91%.FY 2025 gold production of 121,191 ounces, a 5% increased compared to FY 2024, and within revised FY 2025 guidance range.With the secondary crushing circuit at the AGM processing plant commissioned (in late July 2025), milling performance in December 2025 achieved nameplate annual capacity of 5.8 Mt.Processing cost per tonne for Q4 2025 was $12.13, 4% lower than Q3 2025 and 23% lower than Q4 2024. The decrease in processing cost per tonne in Q4 2025 was driven by more tonnes milled compared to Q3 2025 and Q4 2024, which decreased fixed processing costs on a per unit basis.Capital ExpendituresSustaining capital expenditures, excluding capitalized stripping costs, during Q4 2025 totaled $4.4 million and related primarily to a tailings facility expansion.Development capital expenditures during Q4 2025 totaled $0.7 million (excluding Nkran pre-stripping costs) and related primarily to drilling of boreholes at Nkran and village resettlement early works.Development of Cut 3 at the Nkran deposit commenced in February 2025 and continued to ramp up throughout the year. During Q4 2025, 4.3 Mt of waste was mined at a cost of $2.48/t or $11.1 million. These stripping costs are classified as development capital expenditures. The Company anticipates a further ramp up of mining activities at Nkran in 2026 following the mobilization of additional equipment by the mining contractor.CostsAISC1 for Q4 2025 was $2,033/oz, compared to $2,638/oz in Q4 2024. The decrease in AlSC1 was primarily driven by a 55% increase in gold ounces sold in Q4 2025. Relative to Q3 2025, AISC1 decreased by 11% in Q4 2025 on a per ounce basis, resulting from higher gold ounces sold.ExplorationAdditional positive results from the Phase 2 drilling program at Abore, carried out in Q3 2025, were released in Q4 20253. These results continued to confirm multiple significant high-grade intercepts, demonstrating continuity of mineralization within new ore shoots identified earlier in 2025 that lie below the existing Mineral Reserve and Mineral Resource.Continued drilling success prompted an expansion of the 2025 Abore drilling program by a further 11,000m, demonstrating the Company's strategic focus on increasing Abore's Mineral Resource. 10,907m of the planned 11,000m of diamond drilling was completed during Q4 2025. This most recent drilling program was designed to test for further extensions of mineralization immediately below the known Mineral Resource, including several deeper step-out holes to test for mineralization up to 200m below previous drilling levels, and the continuation of the Abore granite, which hosts the bulk of mineralization. Refer to the Company's news release dated January 29, 2026, which is available under the Company's SEDAR+ profile, for significant intercepts reported from the expanded Abore drilling program.Balance SheetThe Company has maintained a strong cash position with $108.3 million as of December 31, 2025 and no debt.The Company finalized a $75 million revolving credit facility (the "RCF") with FirstRand Bank Limited, acting through its Rand Merchant Bank division, in Q4 2025. The purpose of the RCF is for general working capital requirements. The RCF has a 4-year term and floating interest rate based on the Secured Overnight Financing Rate (SOFR) plus a margin of 3.95% per annum, while the undrawn portion of the RCF is subject to a standby fee of 1.38% per annum. As of December 31, 2025, the Company had not drawn on the RCF and was in full compliance with all covenants.CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE THREE MONTHS ENDED DECEMBER 31, 2025 AND 2024  
Three months ended December 31,   (All amounts in 000's of US dollars, except per share amounts)
2025

2024     Gross revenue
159,676

64,551     Income from mine operations
51,139

26,114     Adjusted income from mine operations(1)
68,564

140,566     Net income attributable to common shareholders
16,826

946     Net income per share attributable to common shareholders
0.06

0.00     Adjusted net income attributable to common shareholders(1)
39,959

4,646     Adjusted net income per share attributable to common shareholders(1)
0.15

0.02     Adjusted EBITDA(1)
85,485

21,175     Cash and cash equivalents
108,327

105,775     Cash generated from operating activities
55,839

13,806   The Company sold 38,276 ounces of gold in Q4 2025 at a quarterly record average gold price (before the effect of realized hedging losses) of $4,164/oz for gross revenue of $159.7 million. The increase in revenue from the comparative period was due to a 60% increase in average gold sales prices and a 55% increase in gold ounces sold. The average gold sales price, including the effect of realized gold hedging losses, for Q4 2025 amounted to $3,744/oz.Income from mine operations for Q4 2025 totaled $51.1 million, compared to $26.1 million in Q4 2024. The increase in income from mine operations was due to higher revenues as described above. This was partly offset by higher depletion expense on Abore and Esaase development and capitalized stripping costs during Q4 2025. Royalties expense was also higher in Q4 2025 due to higher earned revenues and an increase to Ghana Growth and Sustainability Levy ("GSL") from 1% to 3% effective April 1, 2025.The Company reported net income attributable to common shareholders of $16.8 million in Q4 2025, compared to net income of $0.9 million in Q4 2024. The increase in net income during Q4 2025 was primarily due to higher recorded revenues, partly offset by higher royalties and income taxes.Reported Adjusted EBITDA1 of $85.5 million in Q4 2025, compared to $21.2 million in Q4 2024. The increase in Adjusted EBITDA1 was primarily driven by higher revenues, partly offset by higher royalties and realized gold hedging losses, as described above.The Company generated $55.8 million of cash flow from operating activities in Q4 2025, compared to $13.8 million in Q4 2024. The increase in operating cash flow was primarily driven by higher average gold sales prices during the quarter.Paid $25.0 million to Gold Fields Limited during Q4 2025 to settle the first deferred acquisition costs payment.As of December 31, 2025, the Company had cash and cash equivalents of $108.3 million and no debt.CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

Year ended December 31,  (All amounts in 000's of US dollars, except per share amounts)
2025

2024     Revenue
447,767

231,339     Income from mine operations
66,013

54,889     Adjusted income from mine operations(1)
140,566

68,495     Net (loss) income attributable to common shareholders
(29,290)
6,118     Net (loss) income per share attributable to common shareholders
(0.11)
0.02     Adjusted net income attributable to common shareholders(1)
58,530

39,548     Adjusted net income per share attributable to common shareholders(1)
0.23

0.16     Adjusted EBITDA(1)
182,180

71,292     Cash and cash equivalents
108,327

105,775     Cash generated from operating activities
157,994

55,746   The Company sold 127,134 ounces of gold during the year ended December 31, 2025 at an average gold price (before the effect of realized hedging losses) of $3,516/oz for gross revenue of $447.8 million. The increase in revenue from FY 2024 was due to a 47% increase in average gold sales prices and 32% increase in gold ounces sold. Gold ounces sold in FY 2025 were higher than FY 2024 as the Company only consolidated the financial results of the AGM from March 4, 2024 onwards in the comparative year. The average gold sales price for FY 2025, including the effect of realized gold hedging losses, amounted to $3,164/oz.Income from mine operations for the year ended December 31, 2025 totaled $66.0 million, compared to $54.9 million in FY 2024. The increase in income from mine operations was due to the increase in revenue, as described above, and the Company only consolidating the financial results of the AGM from March 4, 2024 to December 31, 2024 in the prior year. These factors were partly offset by higher realized gold hedging losses, depreciation and depletion expense and royalties in FY 2025.The Company reported a net loss attributable to common shareholders of $29.3 million for the year ended December 31, 2025, compared to net income of $6.1 million in FY 2024. The decrease in net income was primarily driven by higher realized and unrealized losses on gold hedging instruments in FY 2025 and the recording of current and deferred income tax expenses related to the AGM, which were partly offset by higher recorded revenue.Reported Adjusted EBITDA1 of $182.2 million during the year ended December 31, 2025, compared to $71.3 million in FY 2024. The increase in Adjusted EBITDA1 was driven by higher average gold sales prices and the Company consolidating a full year of financial results of the AGM in FY 2025. These factors were partly offset by higher realized gold hedging losses and royalties in FY 2025.The Company generated $158.0 million of cash flow from operating activities during the year ended December 31, 2025, compared to $55.7 million in FY 2024. The increase in cash flow from operations was driven by higher average gold sales prices and the Company consolidating a full year of financial results of the AGM in 2025.This news release should be read in conjunction with Galiano's Management's Discussion and Analysis and the Audited Consolidated Annual Financial Statements for the years ended December 31, 2025 and 2024, which are available at www.galianogold.com and filed on SEDAR+. 1 Non-IFRS Performance MeasuresThe Company has included certain non-IFRS performance measures in this news release. These non-IFRS performance measures do not have any standardized meaning and therefore may not be comparable to similar measures presented by other issuers. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Refer to "Non-IFRS Measures" of Galiano's Management's Discussion and Analysis for an explanation of these measures and reconciliations to the Company's reported financial results in accordance with IFRS.Total Cash Costs per Gold Ounce Sold

Management of the Company uses total cash costs per gold ounce sold to monitor the operating performance of the AGM. Total cash costs include the cost of production, adjusted for by-product revenue and production royalties per ounce of gold sold.AISC per Gold Ounce Sold

The Company has adopted the reporting of "AISC per gold ounce sold". AISC include total cash costs, AGM general and administrative expenses, sustaining capital expenditure, sustaining capitalized stripping costs, reclamation cost accretion and lease payments made on the AGM's mining and other service lease agreements per ounce of gold sold.EBITDA and Adjusted EBITDA

Earnings before interest, taxes, depreciation and amortization ("EBITDA") provides an indication of the Company's continuing capacity to generate income from operations before taking into account the Company's financing decisions and costs of amortizing capital assets. Accordingly, EBITDA comprises net income (loss) excluding finance expense, finance income, depreciation and depletion expense, and income taxes. Adjusted EBITDA adjusts EBITDA to exclude non-recurring items and non-cash items ("Adjusted EBITDA") and includes the calculated Adjusted EBITDA of the AGM joint venture for periods prior to the consolidation of its ownership.Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Common Share

The Company has included the non-IFRS performance measures of adjusted net income (loss) and adjusted net income (loss) per common share. Neither adjusted net income (loss) nor adjusted net income (loss) per share have any standardized meaning and are therefore unlikely to be comparable to other measures presented by other issuers. Adjusted net income (loss) excludes certain non-cash items or non-recurring items from net income (loss) to provide a measure which helps the Company and investors to evaluate the results of the underlying core operations of the Company and its ability to generate cash flows and is an important indicator of the strength of the Company's operations and performance of its core business.Adjusted Income from Mine Operation

The Company has included the non-IFRS performance measures of adjusted income from mine operations in this news release. Adjusted income from mine operations has no standardized meaning and is therefore unlikely to be comparable to other measures presented by other issuers. Adjusted income from mine operations is calculated by adding back unrealized losses (gains) on the Company's gold hedge derivative instruments to income from mine operations as reported in the Company's Statement of Operations and Comprehensive Income. The Company believes adjusted income from mine operations provides a measure which helps management and investors to evaluate the financial results of the underlying core operations of the Company and its ability to generate cash flows in the current period.Qualified PersonThe exploration information contained in this news release has been reviewed and approved by Mr. Chris Pettman, P.Geo, Vice President Exploration of Galiano.Mr. Eric Chen, P.Geo., Vice President Mineral Resources of Galiano has reviewed and approved the Mineral Resources statement.All other scientific and technical information contained in this news release, including the Mineral Reserve statement, has been reviewed and approved by Mr. Amri Sinuhaji, P.Eng., Vice President Technical Services of Galiano. Mr. Pettman, Mr. Chen and Mr. Sinuhaji are "Qualified Persons" as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.Conference Call and WebcastManagement will host a conference call and webcast to discuss the results of FY 2025 at 10:30am ET (7:30am PT) on February 13, 2026. Please refer to the details below to join the conference call or the webcast.Conference Call Participant DetailsRapidConnect URL:https://emportal.ink/4suhvtC Local:Toronto: 1-437-900-0527 North American Toll Free: 1-888-510-2154  Webcast URL Audience URL:https://app.webinar.net/Qpwkr5WxG51 Conference Replay Conference Replay Local:1-289-819-1450 Conference Replay North American Toll Free: 1-888-660-6345 Conference Replay Entry Code:68484 #Conference Replay Expiration Date:February 20, 2026 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 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.Contact Information
Darshan Sundher
Toll-Free (N. America): 1-855-246-7341
Email: info@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 operating plans for the AGM and timing thereof; expectations and timing with respect to current and planned drilling programs, including at Abore and Esaase, and the results thereof; the focus of the 2026 exploration programs; expectations and timing with respect to ramping up of mining activities at Nkran; anticipated production and cost guidance; expectations regarding reporting an underground mineral reserve, including the timing thereof; expectations regarding the RCF; expectations regarding cash flows from operations; any additional work programs to be undertaken by the Company; potential exploration opportunities and statements regarding the usefulness and comparability of certain non-IFRS measures; total cash costs and corresponding cost performance relating to the Company's activities; and details of the upcoming conference call and webcast. 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 AGM will not experience any significant uninsured production disruptions that would materially affect revenues; 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.Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: the mineral reserve and mineral resource estimates may change and may prove to be inaccurate; life of mine estimates are based on a number of factors and assumptions and may prove to be incorrect; actual production, costs, returns and other economic and financial performance may vary from the Company's estimates in response to a variety of factors, many of which are not within the Company's control; inflationary pressures and the effects thereof; sustained increases in costs, or decreases in the availability, of commodities consumed or otherwise used by the Company may adversely affect the Company; adverse geotechnical and geological conditions (including geotechnical failures) may result in operating delays and lower throughput or recovery, closures or damage to mine infrastructure; the ability of the Company to treat the number of tonnes planned, recover valuable materials, remove deleterious materials and process gold as planned is dependent on a number of factors and assumptions which may not be present or occur as expected; risks related to artisanal and illegal mining activities at or near the AGM, including that the Company's mineral properties may experience a loss of ore, and the Company may experience lack of access to its mineral properties and other issues, due to illegal mining activities; the Company's operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; the ability of the Company to manage procurement risks, including securing timely and cost-effective equipment and services, and mitigate risks related to supplier performance, fraud, collusion, bribery, kickbacks and unethical procurement practices; outbreaks of infectious diseases may have a negative impact on global financial conditions, demand for commodities and supply chains and could adversely affect the Company's business, financial condition and results of operations and the market price of the common shares of the Company; the Company's operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; the Company may be unsuccessful in attracting and retaining key personnel; labour disruptions could adversely affect the Company's operations; metallurgical recoveries may not be economically viable or recoveries may be lower in the future and have a negative impact on the Company's gold production and financial results; the Company's business is subject to risks associated with operating in a foreign country; risks related to the Company's use of mining and other contractors; the hazards and risks normally encountered in the exploration, development and production of gold; the Company's operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the effects of climate change or extreme weather events may cause prolonged disruption to the delivery of essential commodities which could negatively affect production efficiency; the Company's operations and workforce are exposed to health and safety risks; unexpected costs and delays related to, or the failure of the Company to obtain, necessary permits could impede the Company's operations; the Company's title to exploration, development and mining interests can be uncertain and may be contested; geotechnical risks associated with the design and operation of a mine and related civil structures; the Company's properties may be subject to claims by various community stakeholders; risks related to limited access to infrastructure and water; risks associated with establishing new mining operations; the Company's revenues are dependent on the market prices for gold, which have recently experienced significant fluctuations; the Company may not be able to secure additional financing when needed or on acceptable terms; the Company's shareholders may be subject to future dilution; risks related to changes in interest rates and foreign currency exchange rates; changes to taxation laws applicable to the Company may affect the Company's profitability and ability to repatriate funds; risks related to the Company's internal controls over financial reporting and compliance with applicable accounting regulations and securities laws; risks related to information systems security threats; non-compliance with public disclosure obligations could have an adverse effect on the Company's share price; the carrying value of the Company's assets may change and these assets may be subject to impairment charges; risks associated with changes in reporting standards; the Company may be liable for uninsured or partially insured losses; the Company may be subject to litigation; damage to the Company's reputation could result in decreased investor confidence and increased challenges in developing and maintaining community relations which may have adverse effects on the business, results of operations and financial conditions of the Company and the Company's share price; the Company may be unsuccessful in identifying targets for acquisition or completing suitable corporate transactions, and any such transactions may not be beneficial to the Company or its shareholders; the Company must compete with other mining companies and individuals for mining interests; the Company's growth, future profitability and ability to obtain financing may be impacted by global financial conditions; the Company's common shares may experience price and trading volume volatility; the Company has never paid dividends and does not expect to do so in the foreseeable future; the Company's shareholders may be unable to sell significant quantities of the Company's common shares into the public trading markets without a significant reduction in the price of its common shares, or at all; and any such other risk factors described under the heading "Risk Factors" in the Company's Annual Information Form.Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in, or incorporated by reference in, this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.Neither the Toronto Stock Exchange nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this news release.Source: Galiano Gold Inc.1 Non-IFRS measure. Refer to section "Non-IFRS Performance Measures" in this news release.
2 Refer to the Company's news release titled "Galiano Gold Advances Towards A Maiden Underground Resource At Abore With Additional High-Grade Results Encountered Including 4.7 g/t Au Over 28m And 3.5 g/t Au Over 17m" dated November 17, 2025, which is available under the Company's SEDAR+ profile at www.sedarplus.ca.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283750
Original: Galiano Gold Reports Fourth Quarter and Full Year 2025 Results

GAU has bottomed out here in the .60s. e
Earning good cashflow here. Low costs. Good profit. Debt free. Who doesnt like that?

Galiano, a debt free, fine Junior miner will breakout soon!!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163319627

Added today on the dip. Held up well today considering spot tanked over $20 and futures were down $27 - we’ll see if she bounces tomorrow. So far it’s been a well behaved swing trade.

Galiano Gold Reports Q1 2020 Results
May 07 2020 - 07:00AM
PR Newswire (US) Print
(All dollar amounts are United States dollars unless otherwise stated)

VANCOUVER, May 7, 2020 /PRNewswire/ - Galiano Gold Inc. ("Galiano" or the "Company") (TSX, NYSE American: GAU) (formerly Asanko Gold Inc.) reports first quarter ("Q1") 2020 operating and financial results for the Asanko Gold Mine ("AGM"), located in Ghana, West Africa. The AGM is a 50:50 joint venture ("JV") with Gold Fields Ltd (JSE, NYSE: GFI), which is managed and operated by Galiano.

Q1 2020 Asanko Gold Mine Highlights (100% basis)

Record quarterly gold production of 66,333 ounces at all-in sustaining cost1 ("AISC") of $805/oz

The AGM delivered its best financial performance since commercial production was announced in April 2016.

Gold sales of 67,820 ounces at an average realized price of $1,542/oz, generating record gold sales proceeds of $104.6 million

Strong cash flow generation with operating cash flow of $37.0 million, and free cash flow1 of $27.0 million

As at March 31, 2020, the JV had cash of $55.6 million, $9.6 million in gold receivables and $0.5 million in gold on hand

Revolving credit facility of $30 million drawn down as a proactive measure in response to current economic uncertainty

Filed 43-101 technical report with updated Mineral Resource and Mineral Reserve Estimate

Precautionary measures in place in response to the COVID-19 global pandemic
Q1 2020 Quarterly Highlights for Galiano Gold Inc.

Net income after tax of $21.8 million and Adjusted EBITDA1 of $21.9 million

At March 31, 2020, Galiano had cash and receivables of $53.7 million

Continued returning capital to shareholders through the normal course issuer bid ("NCIB") program with 2,431,409 common shares repurchased and cancelled for $2.0 million

Appointed Paul N. Wright as Chairman of the Board of Directors as of May 5, 2020

Appointed Judith Mosely to the Board of Directors as of January 1, 2020

Appointed Todd Romaine as Executive Vice President, Sustainability as of May 1, 2020

Appointed Paul Klipfel as Senior Vice President, Exploration as of April 20, 2020
"We delivered an exceptional quarter in the context of a very challenging global backdrop," said Greg McCunn, Chief Executive Officer. "With record production and gold sales proceeds we continued to execute on our strategy of generating free cash flow at the Asanko Gold Mine and returning capital with distributions to the joint venture partners totalling $45 million during the quarter."

"During the quarter the team delivered on an important milestone with the completion of the life of mine plan and the updated Mineral Resource and Mineral Reserve estimate for the Asanko Gold Mine providing a baseline on which we are working to optimize. Included in the optimization is our cost initiative to drive down our all-in sustaining costs by $100/oz. Another key focus area where we see potential to drive value is within exploration and I am pleased to announce that Paul Klipfel has joined us as our newly appointed Vice President, Exploration. The focus on exploration in the short-term is on replacing depletion and during 2020 we have a $10 million program underway with 4 drill rigs currently turning on-site. We expect to have approximately 36,000 metres drilled by early August at near-mine targets which will form our updated reserve and resource estimate for year-end. We expect to see a sustained exploration effort in the medium term.

"During the quarter and subsequent to quarter-end we have also undertaken some changes to the board with the addition of Judith Mosely and our newly appointed Chairman Paul Wright. We have also recently appointed Todd Romaine as our EVP, Sustainability. With sustainability a key focus area, we are pleased to enhance our capability across the Environmental, Social and Governance spheres. We also received shareholder support at our Annual General and Special Meeting to change the Company's name and effective May 5, 2020 we began trading as Galiano Gold. This provides us a clear distinction between the corporate level entity and the Asanko Gold Mine whilst maintaining our vision to create a sustainable business capable of long-term value creation for all our stakeholders."

https://ih.advfn.com/stock-market/AMEX/galiano-gold-GAU/stock-news/82402166/galiano-gold-reports-q1-2020-results

Galiano Gold 1Q Net $21.8M
Galiano Gold Had Cash and Receivables of $53.7M at March 31
BZ: Galiano Gold Q1 Adj. EPS $0.10, Up From $(0.02) YoY

Press Release: Galiano Gold Reports Q1 2020 -4-

5/7/20, 7:00 AM
SOURCE Galiano Gold Inc.

/CONTACT: Enquiries: Lynette Gould, SVP Investor RelationsToll-Free (N. America): 1-855-246-7341, Telephone: 1-778-729-0608, Email: lynette.gould@ galianogold.com

/Web site: https://www.asanko.com/Home/default.aspx

Analyst Actions: HC Wainwright Lifts Galiano Gold's Price Target to $2.50 From $2.40, Keeps Buy Rating

Asanko Gold is now Galiano Gold Inc - trades under ticker symbol GAU

News: $AKG Gold Prices at 6 Year High Due to U.S.-China Trade Policies

August 8, 2019 Palm Beach, FL –August 8, 2019 – There are many reasons why the price of gold fluctuates, but one of the current reasons is the intensifying U.S.-China trade war which is perceived to threaten global economic growth. In times of uncertainty, gold is se...

Read the whole news Gold Prices at 6 Year High Due to U.S.-China Trade Policies

News: $AKG Asanko Gold Announces Management Restructuring

VANCOUVER, British Columbia, July 11, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) announces changes to its senior management team following a thorough review of the current business needs as managers and opera...

Read the whole news Asanko Gold Announces Management Restructuring

News: $AKG Asanko Gold Announces Q2 2019 Production Results

VANCOUVER, British Columbia, July 10, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) is pleased to announce production results for the second quarter (“Q2”) 2019 from the Asanko Gold Mine (“A...

Find out more Asanko Gold Announces Q2 2019 Production Results

Asanko Gold Reports Positive Exploration Results
GlobeNewswire
April 8, 2019
News Link:
https://finance.yahoo.com/news/asanko-gold-reports-positive-exploration-110000417.html

Asanko Gold Reports Q4 and Full Year 2018 Results, and Provides 2019 Guidance

VANCOUVER, British Columbia, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) reports fourth quarter (“Q4”) and full year (“FY”) 2018 operating and financial results and provides 2019 guidance for the Asanko Gold Mine (“AGM”), located in Ghana, West Africa. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE, NYSE: GFI), which is managed and operated by Asanko. All amounts are in US dollars unless otherwise stated.

Asanko Gold Mine Highlights (100% basis)

FY2018 gold production of 223,152 ounces at AISC1 $1,072/oz, exceeding 2018 production guidance and within the lower end of cost guidance
FY2018 gold sales of 227,772 ounces at an average realized price of $1,247/oz, generating gold revenue of $283.9 million, including by-product sales and after capitalization of gold sales related to pre-production activities at Esaase
For FY2018, the JV generated operating cash flows of $72.5 million and $100.5 million in operating cash flows before working capital changes
For FY2018, the JV reported adjusted net income1 after tax of $2.0 million, after accounting for the $126.9 million fair value adjustment associated with the JV transaction
Q4 2018 gold production of 59,823 ounces at AISC1 of $1,072/oz
Q4 2018 gold sales of 61,821 ounces at an average realized price of $1,215/oz, generating gold revenue of $74.2 million, including by-product sales and after capitalization of gold sales related to pre-production activities at Esaase
For Q4 2018, the JV posted a net loss after tax of $3.1 million
At December 31, 2018, the JV had cash of $21.6 million on hand and $4.3 million in receivables from gold sales
Quarterly Consolidated Financials for Asanko Gold Inc.

In Q4 2018, the Company reported net loss of $0.9 million and Adjusted EBITDA1 of $6.1 million
At December 31, 2018, Asanko had a cash position of $10.4 million
2019 Guidance for the Asanko Gold Mine (100% basis)

225,000 – 245,000 ounces at AISC1 of $1,040 – 1,060/oz and AIC2 of $1,130 – $1,150/oz
Capital expenditure forecast to be $25.0 million, of which $9.0 million is sustaining capex and $16.0 million is development capital for Esaase (included in AIC2)
Exploration budget of $8.0 million (included in AIC2)
Commenting on the Q4 and FY 2018 performance, Peter Breese, President and CEO, said: “The Asanko Gold Mine delivered a fourth consecutive quarter of strong operating performance, enabling the mine to set a new production record for the year, which exceeded guidance and met the lower end of cost guidance. This enabled the mine to deliver exceptional operating cash flows after working capital of $72.5 million in the year. This is a particularly pleasing result and allowed the mine to focus on investing in its future as we continued with the substantial pushback of the Nkran pit and commenced the initial development of the large greenfields deposit, Esaase.

Whilst the mine’s AISC1 were within the lower end of cost guidance for the year, Q4 AISC1 were impacted by a NRV adjustment to the mine’s lower-grade stockpile inventory value, the planned continued focus on the large Nkran pushback and inflationary pressures on mining unit rates. These costs translated into a net loss after tax of $3.1 million for the JV.

Looking to the year ahead, the Asanko Gold Mine is targeting 225,000 to 245,000 ounces of gold production at AISC1 of $1,040 – $1,060/oz for 2019. Whilst forecasted AISC1 for 2019 are in line with 2018, they include a continued investment on the large Nkran pushback, which will be complete in 2019, resulting in high strip ratios for the year. In addition we have provided for two additional costs items that were not incurred for the full year in 2018. These are $35/oz for the recently introduced Esaase trucking operation and $25/oz to account for the new 5% non-refundable levy on goods and services that attract VAT in Ghana.

Alongside meeting the operational plan for the year, we will be focusing on the continued development of Esaase and re-starting exploration. Working with our Joint Venture partners, we have put together an $8 million exploration program for the year. Our priority targets are located within the highly prospective South Camp area, as well as near-mine oxides close to existing infrastructure.”

Asanko Gold Mine – Summary of FY2018 and Q4 2018 Operational and Financial Results

Asanko Gold Mine (100% Basis) Q4 2017 Q3 2018 Q4 2018 FY 2017 FY 2018
Waste mined (‘000t) 10,692 9,084 8,370 30,108 39,244
Ore mined (‘000t) 802 1,730 1,370 4,048 4,898
Strip ratio (W:O) 13.3 5.3 6.1 7.4 8.0
Average gold grade mined (g/t) 1.5 1.4 1.5 1.7 1.4
Mining costs ($/t mined) 2.82 3.63 4.13 3.25 3.62
Ore treated (‘000t) 1,087 1,299 1,238 3,745 5,180
Gold feed grade (g/t) 1.5 1.6 1.6 1.8 1.5
Gold recovery (%) 94 94 95 94 94
Processing costs ($/t treated) 12.91 11.26 12.39 13.00 11.16
Gold production (oz) 51,550 61,599 59,823 205,047 223,152


Gold sales (oz) 49,561 65,267 61,821 206,079 227,772
Average realized gold price ($/oz) 1,264 1,198 1,215 1,243 1,247
Operating cash costs1 ($/oz) 586 743 811 556 688
Total cash costs1 ($/oz) 649 803 872 618 750
All-in sustaining costs1 ($/oz) 1,171 971 1,072 1,007 1,072
All-in sustaining margin1 ($/oz) 93 227 143 236 175
All-in sustaining margin1 ($m) 4.6 14.8 8.8 48.6 39.9
Revenue ($m) 62.8 78.4 74.2 256.2 283.9
Income (loss) from mine
operations ($m) 15.1 0.6 (0.8 ) 62.6 35.3
Net income (loss) after tax ($m) (9.3 ) (128.8 ) (3.1 ) 12.6 (124.9 )
Adjusted net income (loss) after tax1 ($m) (9.3 ) (2.1 ) (2.9 ) 12.6 2.0
Cash provided by operating activities 36.6 21.1 12.9 133.2 72.5
There were no lost time injuries (“LTI”) reported during the quarter, and the AGM has now achieved over 21 months and more than 10.9 million man hours worked without a single LTI.
For the year 2018 gold sales were 227,772 ounces at an average realized price of $1,247/oz, generating gold revenue of $283.9 million
Strong cash generation for the year, the JV generated $72.5 million in operating cash flow after working capital
Produced 59,823 and 223,152 ounces of gold in Q4 2018 and FY2018, respectively, exceeding 2018 production guidance of 200,000-220,000 ounces.
In Q4 2018, ore mined was 456,667 tonnes per month at an average mining grade of 1.5 g/t and a strip ratio of 6.1:1.
Completed the initial development and bulk sampling exercise of the large-scale Esaase deposit in Q4 2018. Trial mining operations commenced in January 2019.
The processing plant delivered another strong quarterly milling performance of 1.2 million tonnes at a plant feed grade of 1.6g/t.
Q4 2018 gold recovery was 95%, continuing to exceed design.
The AGM incurred operating cash costs per ounce1, total cash costs per ounce1 and all-in sustaining costs (“AISC”)1 of $811, $872 and $1,072/oz, respectively, in Q4 2018. These costs included a $106/oz impact associated with an adjustment to the carrying value of stockpile inventory in order to reflect the net realizable value of lower-grade stockpiled ore.
AISC1 for the FY2018 was $1,072/oz, which was within guidance for the year of $1,050-$1,150/oz.
During Q4 2018, the AGM sold 61,821 ounces of gold at an average realized gold price of $1,215/oz for total revenue of $74.2 million (including $0.2 million of by-product revenue and net of $1.1 million of gold sales related to pre-production activities at Esaase that were capitalized to mineral properties, plant and equipment), an increase of $11.5 million from Q4 2017. The increase in revenues quarter-on-quarter was a function of higher sales volumes in Q4 2018, partially offset by lower average realized gold prices.
Total cost of sales (including depreciation and depletion and royalties) amounted to $75.1 million in Q4 2018, an increase of $27.4 million from Q4 2017. The increase in production costs was primarily driven by a $9.3 million adjustment to the carrying value of the AGM’s stockpile inventory to reflect the net realizable value of lower-grade stockpiled ore, higher mining and overhead costs associated with the achievement of production performance targets, inflationary pressures on unit mining costs as well as higher gold ounces sold. Additionally, depreciation and depletion during Q4 2018 accounted for $5.7 million of the increase in cost of sales, compared to Q4 2017.
The AGM’s net loss after tax amounted to $3.1 million in Q4 2018, compared to a net loss of $9.3 million in Q4 2017. The reduction in net loss was due mainly to a reduction in deferred income tax expense and interest expense, the latter resulting from the settlement of the Red Kite debt in July 2018. These factors were partly offset by lower mine operating earnings in Q4 2018.
As at December 31, 2018, the JV had cash of $21.6 million on hand and $4.3 million in receivables from gold sales.
Asanko Gold Inc. – Summary of FY2018 and Q4 2018 Financial Results

Asanko Gold Inc. (consolidated) Q4 2017 Q3 2018 Q4 2018 FY 2017 FY 2018
Net income (loss) attributable to common shareholders ($m) (6.7 ) (0.3 ) (0.9 ) 5.8 (141.4 )
Net income (loss) per share attributable to common shareholders ($0.03 ) ($0.00 ) ($0.00 ) $0.03 ($0.64 )
Adjusted net income (loss)attributable to common shareholders1 ($m) (6.7 ) (1.6 ) (0.9 ) 5.8 1.9
Adjusted net income (loss) per share attributable to common shareholders1 ($0.03 ) ($0.01 ) ($0.00 ) $0.03 $0.01
Adjusted EBITDA1 ($m) 27.0 13.3 6.1 114.5 79.0
The Company reported a net loss attributable to common shareholders of $0.9 million in Q4 2018 compared to a net loss of $6.7 million in Q4 2017. The reduction in net loss for Q4 2018 was predominantly a result of the deconsolidation of the Company’s former Ghanaian subsidiaries and the recognition of $1.1 million in service fees (net of withholding tax) earned as operators of the JV.
Reported Adjusted EBITDA1 of $6.1 million for Q4 2018 compared to $27.0 million in Q4 2017. The decrease in Adjusted EBITDA1 was primarily a result of the higher cash costs incurred by the AGM in Q4 2018, as well as a reduction in the Company’s interest in the AGM from 100% to 45%.
For FY2018, the Company reported a net loss attributable to common shareholders of $141.4 million compared to net income attributable to common shareholders of $5.8 million in 2017. The reduction in net income for the year was predominantly the result of a $143.3 million loss associated with the loss of control of the AGM on July 31, 2018. In addition, the Company deconsolidated the results of its former Ghanaian subsidiaries effective July 31, 2018.
Reported Adjusted EBITDA1 of $79.0 million for FY2018 compared to $114.5 million in 2017. The decrease in Adjusted EBITDA1 was primarily a result of the higher cash costs incurred by the AGM in 2018, as well as a reduction in the Company’s interest in the AGM from 100% to 45%.
2019 Guidance
The Asanko Gold Mine JV announces 2019 production guidance of 225,000 – 245,000 ounces at AISC1 of $1,040 – $1,060/oz and AIC2 of $1,130 – US$1,150/oz, based on a $1,200/oz gold price. Corporate costs for Asanko Gold Inc. are expected to be $60 per attributable ounce over and above the AGM AISC1 and AIC2.

The AGM’s AISC1 in 2019 also includes $35/oz for the recently introduced Esaase trucking operation and $25/oz to account for the impact of the recent 5% non-refundable levy on goods & services that attract VAT in Ghana.

Total capital expenditure for 2019 is forecast to be $25 million. Sustaining capex is estimated at $9 million and includes a tailings dam lift. Development capital is forecast at $16 million, primarily for the development of Esaase and includes the commencement of a village relocation and the installation of two water treatment plants. In addition, $8 million is budgeted for exploration, mainly around the highly prospective Tontokrom – Miradani – Fromenda mineralized trend.

This news release should be read in conjunction with Asanko’s Management Discussion and Analysis and the Consolidated Annual Financial Statements for the year ended December 31, 2018, which are available at www.asanko.com and filed on SEDAR.
Notes:
1 Non-GAAP Performance MeasuresThe Company has included certain non-GAAP performance measures in this press release. These non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Refer to the Non-GAAP Measures section of Asanko’s Management Discussion and Analysis for an explanation of these measures and reconciliations to the Company’s reported financial results in accordance with IFRS.

Operating Cash Costs per ounce and Total Cash Costs per ounceOperating cash costs are reflective of the cost of production, adjusted for share-based payments and by-product revenue per ounce of gold sold. Total cash costs include production royalties of 5%.
All-in Sustaining Costs Per Gold Ounce The Company has adopted the reporting of “all-in sustaining costs per gold ounce” (“AISC”) as per the World Gold Council’s guidance. AISC include total cash costs, corporate overhead expenses, sustaining capital expenditure, capitalized stripping costs and reclamation cost accretion per ounce of gold sold.
Adjusted net income attributable to common shareholdersThe Company has included the non-GAAP performance measures of adjusted net income (loss) attributable to common shareholders and adjusted net income (loss) per common share. Neither adjusted net income nor adjusted net income per share have any standardized meaning and are therefore unlikely to be comparable to other measures presented by other issuers. Adjusted net income excludes certain non-cash items from net income or net loss to provide a measure which helps the Company and investors to evaluate the results of the underlying core operations of the Company and its ability to generate cash flows and is an important indicator of the strength of our operations and the performance of our core business.
Adjusted EBITDAEBITDA provides an indication of the Company’s continuing capacity to generate income from operations before taking into account the Company’s financing decisions and costs of amortizing capital assets. Accordingly, EBITDA comprises net income (loss) excluding interest expense, interest income, amortization and depletion, and income taxes. Adjusted EBITDA adjusts EBITDA to exclude non-recurring items and to include the Company’s interest in the adjusted EBITDA of the JV. Other companies and JV partners may calculate EBITDA and Adjusted EBITDA differently.
2 All in Costs Per OunceAll in Costs per ounce (“AIC") includes AISC as well as costs incurred at ‘new projects’ and costs related to ‘major projects at existing operations’ where these projects will materially benefit the operation. A material benefit to an existing operation is considered to be at least a 10% increase in annual or life of mine production, net present value, or reserves compared to the remaining life of mine of the operation.

Qualified Person StatementFrederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Q4 2018 Operating & Financial Results Conference Call & Webcast - 9am ET on February 14, 2019

US/Canada Toll Free: +1 800 926 5082

UK Toll Free: 0800 496 0822

International: +1 212 231 2912

Webcast:
Please click on the link: https://cc.callinfo.com/r/1ot8ui8286kun&eom

About Asanko Gold Inc.
Asanko’s flagship project, located in Ghana, West Africa, is the jointly owned Asanko Gold Mine with Gold Fields Ltd, which Asanko manages and operates. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities. For more information, please visit http://www.asanko.com.

Forward-Looking and other Cautionary InformationThis release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information, investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note to US Investors Regarding Mineral Reporting Standards:
Asanko has prepared its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of US securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum (the “CIM Council”) Standards on Mineral Resources and Mineral Reserves (the “CIM Definition Standards”). The Securities and Exchange Commission (the “SEC”) has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC. As a result of the adoption of the SEC Modernization Rules, SEC will now recognize estimates of “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” that are “substantially similar” to the corresponding terms under the CIM Definition Standards. In addition, the SEC has amended its definitions of “proven mineral reserves” and “probably mineral reserves” to be “substantially similar” to the corresponding CIM Definitions. United States investors are cautioned that while the above terms are “substantially similar” to CIM Definitions, there is no assurance any mineral reserves or mineral resources that the Company may report as ”proven reserves”, “probable reserves”, “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” under NI 43-101 would be the same had the Company prepared the reserve or resource estimates under the standards adopted under the SEC Modernization Rules.

Enquiries:
Alex Buck – Manager, Investor & Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44 7932 740 452
Email: alex.buck@asanko.com

Andrew J. Ramcharan – SVP, Corporate Development & IR
Toll-Free (N.America): 1-855-246-7341
Telephone: +1 647 309 5130
Email: andrew.ramcharan@asanko.com

Source: Asanko Gold Inc

ASANKO GOLD PROVIDES UPDATE ON ESAASE PROJECT

VANCOUVER, British Columbia, Feb. 01, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) is pleased to provide an update on the development of the Esaase Project, which forms part of the multi-pit Asanko Gold Mine (the “AGM”), located in Ghana, West Africa. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE, NYSE: GFI) which is managed and operated by Asanko.

Highlights:

Successful completion of Esaase bulk sampling in Q4 2018
Trial mining operations at Esaase commenced in January 2019, as planned
Mined 95,899 tonnes @ 1.2 g/t in January 2019 @ 0.5g/t cut off grade
Development decision by JV partners to proceed with Esaase development expected Q2 2019
Updated NI 43-101 expected in Q2 2019
Commenting on the update, Peter Breese, President and CEO, said “The large-scale Esaase deposit provides an exciting near-term organic growth opportunity for the business. Ahead of a decision by the JV partners on the full-scale development plan in Q2 2019, it was appropriate to undertake a bulk sampling and trial mining operation and use the production and technical data to augment the updated Life of Mine plan. We are very encouraged by the results from the bulk sample and the trial mining so far, with the oxides performing well in the mill, throughput is exceeding expectations and gold recovery is in line with current levels experienced from other feed sources.”

Trial Mining Operation
Esaase is a large-scale permitted greenfields deposit located approximately 27 kms from the processing facility. A bulk sample was mined and processed through the central processing facility during Q4 2018, with the Esaase material performing above expectations. The trial mining operation, which commenced in January 2019 and will continue until end of June 2019, is focused on mining the surface oxides of the deposit. Mining is restricted to day shift only, with minimal blasting, and the material is being trucked to the processing facility via the newly commissioned haul road.

Mining rates are expected to approximate 350,000 - 400,000 tonnes per month during this period. Pre-production capital is estimated at US$18 million, of which US$11 million has been spent up to December 2018, and consists of initial infrastructure, mobilization of the mining contractor, initial mining works and the construction of a section of haul road to connect Esaase to the existing AGM haul road network.

Esaase Long-Term Development Plan
In 2017, Asanko published a Definitive Feasibility Study for the AGM, which included the development of Esaase and envisaged an overland conveyor to transport the ore from Esaase to the processing facility as part of the Project 5 Million (“P5M”) growth project. The Esaase mine, overland conveyor and the haul road are permitted.

Following the JV transaction with Gold Fields, which was concluded in July 2018, the JV partners undertook a detailed review of the proposed Esaase development plan and associated long-term ore transportation solution. This included a program of in-fill reverse circulation drilling and re-logging of historical core which has helped to better understand the geological controls to mineralization. All the new data is being compiled into updated Mineral Resource and Reserve Estimates.

In addition, other technical aspects such as the geotechnical, hydrogeological and metallurgical design parameters have also been re-evaluated, incorporating recent production data from the bulk sampling and trial mining operation. This, together with the updated Mineral Resource and Reserve Estimates, will result in an updated LoM plan that will confirm the optimal ore transportation solution and associated capital cost that will form the basis of the 2019 long term development plan for Esaase. This will be presented to the JV partners for a development decision in Q2 2019.

Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

About Asanko Gold Inc.
Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project, located in Ghana, West Africa, is the jointly owned Asanko Gold Mine with Gold Fields Ltd, which Asanko manages and operates. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Forward-Looking and other Cautionary Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the planned operations are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck – Manager, Investor & Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Andrew J. Ramcharan – SVP, Corporate Development & IR
Toll-Free (N.America): 1-855-246-7341
Telephone: +1 647 309 5130
Email: andrew.ramcharan@asanko.com

SP $0.70: MCAP $148.07M, EV $129.58M -> EV/R 0.86, EV/FCF 2.98 (cheap)

^^ our extrapolated numbers using 4Q18 known data and previous non-GAAP gross profit margins (FCF) w/o depreciation for mining operations. Multiplying the 4Q18 results simply by 4 as a lower estimate, produced more gold in previous quarters.

Industry average multiples, especially on debt free companies are EV/R 3 and EV/FCF 7.
Therefor the competitive SP should be at $1.40.

4Q18
- Operational 61.8koz x ($1215 price - $999 AISC) = $13.3M -> AKG $6.65M; re-invested in Esaase + $7M
- Revenues 61.8koz x $1215 price = $75.09M -> AKG $37.54M
- 29% Mining Op Gross Profits $10.89M (FCF)
- Cash US$25.9M by JV + US$10.4M AKG

> Cash $10.4M (AKG) + $12.95M (1/2 JV) = $23.35M
> Total Liabilities - Cash = $-18.49M
- SP $0.70: MCAP $148.07M, EV $129.58M -> EV/R 0.86, EV/FCF 2.98
- SP $0.80: MCAP $180.65M, EV $162.16M -> EV/R 1.08, EV/FCF 3.72
- SP $1.40: MCAP $316.13M, EV $297.64M -> EV/R 1.98, EV/FCF 6.83

ASANKO GOLD MINE DELIVERS RECORD GOLD PRODUCTION OF 223,152 OUNCES IN 2018 EXCEEDING UPPER END OF GUIDANCE

VANCOUVER, British Columbia, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) announces production results for the fourth quarter (“Q4”) and full year (“FY”) 2018 from the Asanko Gold Mine (“AGM”), located in Ghana, West Africa. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE, NYSE: GFI) which is managed and operated by Asanko.

Q4 and FY 2018 financial and operating results will be published on February 14, 2019 with management hosting a conference call at 9am ET on the day, see further details below.

Q4 & FY 2018 Highlights (100% basis):

Record annual gold production in 2018 of 223,152 ounces, exceeding upper end of guidance of 200,000 – 220,000 ounces
Q4 gold production of 59,823 ounces
Q4 gold sales of 61,821 ounces, generating US$75.1 million from gold sales at an average realized price of US$1,215 per ounce
FY 2018 gold sales of 227,772 ounces, generating US$284.1 million from gold sales at an average realized price of US$1,247 per ounce
Zero lost time injuries during the quarter, continuing industry-leading safety LTIFR performance on a rolling 12 month basis of 0
Trial mining operation commenced at the large scale Esaase deposit
Approximately US$25.9 million held by the JV in unaudited cash and immediately convertible working capital balances, as at December 31, 2018, with an additional US$10.4 million of unaudited cash held at the Asanko corporate level
Commenting on the mine’s performance, Peter Breese, President and CEO, said, “The Asanko Gold Mine delivered another strong operational performance for the final quarter of 2018, producing 59,823 ounces for total annual gold production of 223,152 ounces which exceeded the top end of guidance.

During the quarter, the AGM started the initial development of the large-scale Esaase deposit with the completion of the haul road, site establishment of the mining contractor and commencement of trial mining operations. Key production information from the trial mining will assist with the finalization of the updated Life of Mine plans for the AGM which will also include updated Mineral Resource Estimates, revised mine plans and capital estimates. These are expected to be published in Q2 2019, ahead of an investment decision to progress with full-scale long-term mining operations at Esaase and the construction of the overland conveyor.”

Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Q4 2018 Operating & Financial Results Conference Call & Webcast - 9am ET on February 14, 2019

US/Canada Toll Free: +1 800 926 5082

UK Toll Free: 0800 496 0822

International: +1 212 231 2912

Webcast:
Please click on the link: https://cc.callinfo.com/r/1ot8ui8286kun&eom
Enquiries:

Alex Buck – Manager, Investor & Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44 7932 740 452
Email: alex.buck@asanko.com Andrew J. Ramcharan – SVP, Corporate Development & IR
Toll-Free (N.America): 1-855-246-7341
Telephone: +1 647 309 5130
Email: andrew.ramcharan@asanko.com
About Asanko Gold Inc.
Asanko’s flagship project, located in Ghana, West Africa, is the jointly owned Asanko Gold Mine with Gold Fields Ltd, which Asanko manages and operates. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities. For more information, please visit http://www.asanko.com.

Forward-Looking and other Cautionary Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information, investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Asanko Gold Senior Management Appointments

VANCOUVER, British Columbia, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) is pleased to announce Rob Slater’s new role as Executive Vice President of Strategy and the appointment of Dr. Andrew J. Ramcharan (PhD, P.Eng, FAusIMM) as Senior Vice President of Corporate Development and Investor Relations and member of the Asanko Executive Committee, effective immediately.

Dr. Andrew J. Ramcharan joins Asanko from Sprott Resources where he was Managing Director of Project Evaluation for both debt and equity sides. He has over 18 years’ experience in operations, project evaluation, mergers and acquisitions, corporate development, project finance and investor relations. During his career, Andrew has worked for a number of well-respected companies including IAMGOLD Corporation and Resource Capital Funds. He holds a B.Eng degree in Mining Engineering, and a Master’s and Ph.D degree in Mining and Minerals Economics.

Dr. Ramcharan is also a Registered Member of The Society for Mining, Metallurgy and Exploration (SME) in USA, Licensed Professional Engineer in Ontario, Canada and Fellow of The Australasian Institute of Mining and Metallurgy. Dr. Ramcharan is a graduate of the Colorado School of Mines, University of Leoben and completed Harvard University’s Continuing Education program.

Commenting on the appointments, Peter Breese, President & CEO, said “With the Gold Fields Joint Venture transaction now completed, it’s the appropriate time to realign our management team accordingly. As Asanko’s lead representative, Rob will focus on managing the Joint Venture structures as well as our corporate strategy, and I am delighted to welcome Andrew to the team to lead our corporate development and investor relations initiatives. Andrew brings a unique combination of experience, sound technical knowledge and capital markets expertise to Asanko.”

About Asanko Gold Inc.

Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project, located in Ghana, West Africa, is the jointly owned Asanko Gold Mine with Gold Fields Ltd, which Asanko manages and operates. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Enquiries:
For further information please visit: http://www.asanko.com, email: info@asanko.com or contact:

Alex Buck – Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Andrew J. Ramcharan – SVP, Corporate Development and Investor Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +1 647 309 5130

Email: andrew.ramcharan@asanko.com

Source: Asanko Gold Inc

Asanko Gold Launches the Women in Mining “Botae Pa Initiative”

VANCOUVER, British Columbia, Oct. 23, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) is pleased to announce the launch of the Asanko Women in Mining “Botae Pa Initiative” at the Asanko Gold Mine (“AGM”) in Ghana, West Africa. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE, NYSE: GFI) which is managed and operated by Asanko.

Literally translated from the Ghanaian Akan language to mean “Good Purpose”, the Botae Pa Initiative is dedicated to the empowerment and furtherance of women at the Asanko Gold Mine and its catchment communities. This Initiative has been the brainchild of the Asanko Women in Mining Chapter and is being funded 50:50 by the mine and its contractors.

The Botae Pa Initiative’s projects will be focused on achieving gender equality and empowering women and girls by promoting the mining sector to women as an exciting career choice, focusing on the needs of women and girls in the local communities in the areas of education, health, access to finance and business, and supporting the professional development of Asanko’s women through mentoring and networking programs.

The Botae Pa Initiative builds on Asanko’s existing corporate social responsibility (“CSR”) programs and meets the globally recognized United Nation’s Sustainable Development Goal #5 “Achieve gender equality and empower all women and girls”. To date, Asanko’s CSR programs, under the umbrella of “The Asanko Opportunity Cycle”, have focused on education, health, access to capital and financial literacy, vocational training and assisting local businesses.

Commenting on the launch, Peter Breese, President & CEO, said, “Gender diversity isn’t just a buzzword of the moment, it makes good business sense to have a workforce that is made up of the best male and female talent out there.

"It’s important that we continue to develop and promote the women within our business, as well as the girls in our local communities, as they are the next generation of leaders and decision makers and the Botae Pa Initiative provides a dedicated platform to fulfil this.

"CSR is key to Asanko’s business and its long-term viability as a successful gold producer in Ghana. Over the past decade, we have built up a strong social license to operate and have been recognized for our award-winning CSR projects. The Botae Pa Initiative will complement these ongoing programs as well as deliver on our commitment to the UN’s SDG #5. I congratulate the Asanko Women in Mining Chapter for setting up this Initiative.”

Alongside the Botae Pa Initiative, Asanko also has a formal Women in Mining Charter outlining its commitment to gender diversity and empowerment, as well as a number of female-friendly policies designed to increase the number of women at the Asanko Gold Mine, which currently stands at approximately 10% for 2018 and is above the national average of 7% in the mining industry in Ghana. Amongst these policies are: prioritizing female applicants for vacant roles, provision of site accommodation for all women on the mine, maternity leave extended from 14 to 16 weeks and the provision of site accommodation and meals for all nursing mothers and their nannies.

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck – Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

About Asanko Gold Inc.
Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project, located in Ghana, West Africa, is the jointly owned Asanko Gold Mine with Gold Fields Ltd, which Asanko manages and operates. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Source: Asanko Gold Inc

AKG is an excellent gold play with market prices for the commodity on the rise now.

Gold Prices Power To 3-Mo. High On Safe-Haven Demand
Jim Wyckoff  
Tuesday October 23, 2018 08:16
https://www.kitco.com/news/2018-10-23/Gold-Prices-Power-To-3-Mo-High-On-Safe-Haven-Demand.html

Per yesterday's PR for AKG, You can listen to the recent Webcast:
Please click on the link: https://cc.callinfo.com/r/1olxigpk29h4v&eom

Replay:
A recorded playback will be available approximately two hours after the call until December 8, 2018:

US/Canada Toll Free: 800 558 5253

UK Toll Free: 0800 692 0831

International: +1 416 626 4100

Passcode: 21895203

AKG is exceeding expectation as we saw in this week's news. The company will also be benefiting from rising gold prices as political instability continues around the world.

Gold Prices Lifted By Geopolitical Worries
Jim Wyckoff,  Kitco News
Thursday October 18, 2018 13:16
Link:
https://www.kitco.com/news/2018-10-18/Gold-Prices-Lifted-By-Geopolitical-Worries.html

Very nice news! Nice sales numbers: Sales of 65,267 ounces, generating US$78.2 million in gold revenue at an average realized price of US$1,198 per ounce

Asanko Gold Announces q3 2018 Production Results for the Asanko Gold Mine

VANCOUVER, British Columbia, Oct. 17, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) announces production results for the third quarter (“Q3”) of 2018 from the Asanko Gold Mine (“AGM”), located in Ghana, West Africa. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE, NYSE: GFI) which is managed and operated by Asanko.

Q3 2018 Highlights (100% basis):

Record quarterly gold production of 61,599 ounces, tracking higher end of H2 2018 guidance of 110,000 – 120,000 ounces
Quarterly gold sales of 65,267 ounces, generating US$78.2 million in gold revenue at an average realized price of US$1,198 per ounce
Mining operations ahead of plan, bolstered by resumption of steady state operations at Nkran
Strong quarterly mill performance, processing 1.3 million tonnes of ore
Zero lost time injuries during the quarter, continuing industry-leading safety LTIFR performance on a rolling 12 month basis of 0
Esaase pre-production program on schedule, with bulk sample planned in Q4 2018

Approximately US$33.5 million held by the JV in unaudited cash and immediately convertible working capital balances, as at September 30, 2018, with an additional US$14.3 million of unaudited cash held at the Asanko corporate level

Commenting on the quarter’s performance Peter Breese, President and CEO, said “The Asanko Gold Mine delivered a third consecutive quarter of solid production results for the year, tracking the top end of 2018 guidance with production of 61,599 ounces for the quarter and 163,329 ounces year to date. The mine is well positioned to meet full year gold production guidance of 200-220,000 ounces.

The Esaase pre-production program is advancing according to plan, with site establishment well underway and preparations for the bulk sample exercise on schedule for Q4 2018, in anticipation of approval from the JV partners to commence mining in Q1 2019.”

Health and Safety
There were no lost time injuries (“LTI”) reported during the quarter. As at September 30, 2018, the mine achieved over eighteen months without a Lost Time Injury with 9,223,124 million man hours worked.

Production
During the quarter, the AGM sourced ore from Nkran, Nkran Extension, Akwasiso and Dynamite Hill. Nkran operated throughout the quarter at steady state production levels following the substantial completion of the Eastern push back in June 2018, with 1.1 million tonnes (“Mt”) of ore mined at a grade of 1.5g/t. The Western portion of Cut 2 is also progressing on schedule.

The processing plant delivered another strong result for the quarter, milling 1.3Mt and maintaining its performance well above the recently upgraded process design of 5 million tonnes per annum. Metallurgical recovery at 94% continues to attain a level higher than originally planned despite significant volume throughput improvements.

AGM Key Production Statistics (100% basis) Units Q4 2017 Q1 2018 Q2 2018 Q3 2018
Total Tonnes Mined 000 t 11,494 12,743 10,759 10,814
Waste Tonnes Mined 000 t 10,692 11,976 9,814 9,084
Ore Tonnes Mined 000 t 802 767 945 1,730
Strip Ratio W:O 13.3:1 15.7:1 10.4:1 5.3:1
Average Gold Grade Mined g/t 1.5 1.3 1.5 1.4
Ore Treated 000 t 1,087 1,269 1,374 1,299
Gold Feed Grade g/t 1.5 1.3 1.4 1.6
Gold Recovery % 94 93 94 94
Gold Produced oz 51,550 48,229 53,501 61,599
Esaase Update
In anticipation of a mining and trucking operation at Esaase, which is expected to commence in Q1 2019 following JV approval in Q4 2018, a pre-production program commenced during the quarter. The intial phase of the program is site establishment in preparation for a bulk mining sample exercise that will take place in Q4 2018. Bush clearing is underway and grade control drilling is in progress. The purpose of the bulk sampling exercise is to confirm the previous co-leaching test work results that mixes ore from this new source with existing ore sources to support an investment decision by the JV partners. In addition construction has commenced on the haul road linking Esaase to the existing haul road infrastructure and this is expected to be completed before year end.

Sales and Liquidity
Gold production for the quarter was 61,599 ounces with gold sales of 65,267 ounces at an average realized price of US$1,198 per ounce, generating gold sales revenue of US$78.2 million for the JV. At September 30, 2018 the JV held approximately US$30.4 million in unaudited cash, US$1.2 million in gold receivables and US$1.9 million in dore (with a market value of US$2.4 million). The Company held an additional US$14.3 million in unaudited cash, and is scheduled to receive a further US$20 million in cash related to the JV transaction by no later than December 31, 2019.

Qualified Person Statement

Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as definedby Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Q3 2018 Operating & Financial Results Conference Call & Webcast - 9am ET on November 8, 2018

US/Canada Toll Free: 800 771 6781

UK Toll Free: 0800 496 0830

International: +1 212 231 2913

Webcast:
Please click on the link: https://cc.callinfo.com/r/1olxigpk29h4v&eom


Replay:
A recorded playback will be available approximately two hours after the call until December 8, 2018:

US/Canada Toll Free: 800 558 5253

UK Toll Free: 0800 692 0831

International: +1 416 626 4100

Passcode: 21895203
Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

About Asanko Gold Inc.
Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa.

Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Forward-Looking and other Cautionary Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


Source: Asanko Gold Inc

Joint Asanko Gold and Gold Fields Presentation and Webcast at the Denver Gold Forum

VANCOUVER, British Columbia, Sept. 19, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) President and CEO, Peter Breese and Gold Fields Limited (JSE/NYSE: GFI) CEO, Nick Holland will host a joint presentation and webcast with analysts and investors at the Denver Gold Forum at 7:25 am MDT on Monday, September 24, 2018. Details below.

Conference Call Details:
Monday, September 24, 2018 7:25 am MDT
US/Canada Toll Free: 1 800 734 8507
UK Toll Free: 0800 496 0825
International: +1 415 226 5359
Webcast:Please click on the link: https://cc.callinfo.com/r/1l3s8hbvmlmli&eom

Replay
A recorded playback will be available approximately two hours after the call until October 24, 2018:
US/Canada Toll Free: 1 800 558 5253
International: +1 416 626 4100
Passcode: 21895189
Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Enquiries:
For further information please visit: http://www.asanko.com, email: info@asanko.com or contact:

Alex Buck – Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Source: Asanko Gold Inc

Millennium Management LLC Buys 225,095 Shares of Asanko Gold Inc (AKG)
September 9th, 2018 - By Kayla Sanchez
 
https://www.mareainformativa.com/2018/09/09/asanko-gold-inc-akg-shares-bought-by-millennium-management-llc-updated-updated-updated.html

Millennium Management LLC increased its stake in shares of Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG) by 155.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 369,795 shares of the basic materials company’s stock after purchasing an additional 225,095 shares during the quarter. Millennium Management LLC owned 0.16% of Asanko Gold worth $370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. A.R.T. Advisors LLC increased its position in Asanko Gold by 363.5% during the 1st quarter. A.R.T. Advisors LLC now owns 126,353 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 99,090 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Asanko Gold by 3,221.3% in the 4th quarter. Renaissance Technologies LLC now owns 2,975,880 shares of the basic materials company’s stock valued at $2,101,000 after buying an additional 2,886,280 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Asanko Gold by 14.4% in the 1st quarter. Franklin Resources Inc. now owns 11,368,675 shares of the basic materials company’s stock valued at $11,459,000 after buying an additional 1,429,000 shares during the period.

Asanko Gold Reports Q2 2018 Results

VANCOUVER, British Columbia, Aug. 02, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) reports its second quarter (“Q2”) 2018 operating and financial results. The Company released its production and revenue results for Q2 on July 12, 2018. All amounts are in US dollars unless otherwise stated. Management will host a conference call and webcast today at 9am Eastern Time, further details below.

Q2 2018 Highlights:

Gold production of 53,501 ounces and half year production of 101,731 ounces, exceeding upper end of H1 2018 guidance of 90,000 – 100,000 ounces
Quarterly gold sales of 51,785 ounces at an average realized price of $1,286 per ounce generating gold revenue of $66.6 million
Mining operations at Nkran returned to steady state levels in June, mining 178,000 tonnes at 1.9g/t
Another record quarterly mill throughput achieved with 1.37 million tonnes of ore processed
No LTIs during the quarter or on a rolling 12-month basis, maintaining industry leading LTIFR of zero per million man hours worked
Operating cash costs2 of $582/oz (Q1 2018: $571/oz) and total cash costs2 of $646/oz (Q1 2018: $637/oz)
AISC3 decreased 13% quarter on quarter to $1,068/oz (Q1 2018: $1,226/oz), while AISC3 of $1,145/oz for the half year was below the Company’s H1 2018 cost guidance of $1,200-1,300/oz
Cash provided by operating activities of $13.4 million ($28.6 million before working capital changes), compared to $19.1 million in Q1 2018. The reduction in cash provided by operating activities was primarily due to change in non-cash working capital and higher exploration expenditures
Net loss attributable to common shareholders of $142.3 million ($0.63/common share) solely attributable to the recognition of a loss ($144.6 million) due to the reclassification of the Company’s Ghanaian subsidiaries to assets and associated liabilities held for sale, resulting from the Gold Fields JV Transaction
Adjusted net income attributable to common shareholders of $2.3 million ($0.01/common share)
As at June 30, 2018, including assets classified as held for sale, the Company had cash and immediately convertible working capital of $48.1 million, of which $18.8 million is attributable to Asanko post-completion of the Gold Fields JV Transaction
Receipt of amended Environmental Permit for Esaase which includes a trucking operation
Completion of $185.0 million Gold Fields JV Transaction, with Gold Fields acquiring a 50% interest in all of Asanko’s Ghanaian interests, including the Asanko Gold Mine. Asanko to remain operator and manager of the Asanko Gold Mine
Repayment in full of the Red Kite project debt facility with proceeds from the Gold Fields JV Transaction, Asanko now debt free
Commenting on the quarter Peter Breese, President and CEO, said: “The mine’s solid operational performance for the quarter, predominantly the mill’s fantastic performance and Nkran resuming steady-state operations, enabled us to beat the top end of our guidance for the first half of 2018, producing 101,731 ounces at AISC3 of $1,145/oz. We are well positioned to meet our H2 2018 and full year guidance.

AISC3 decreased by 13% to $1,068/oz quarter on quarter, as the Eastern portion of the Nkran Cut 2 pushback was completed ahead of schedule, resulting in a 32% reduction in deferred stripping costs. Processing costs also dropped again this quarter as a result of the mill’s record throughput, posting a 23% decrease since we commissioned the P5M volumetric plant upgrade in Q4 2017. We maintained profitable operations this quarter, reporting an adjusted net income attributable to common shareholders of $2.3 million or $0.01 per common share.

This quarter pre-production work at Esaase got underway in anticipation of commencing mining operations in Q1 2019. The focus was primarily on additional infill exploration drilling and an extensive core re-logging exercise to improve the understanding of the geology and controls to mineralization within the Esaase pit. In addition, we also received an amended Environmental Permit that includes a trucking operation to transport ore from Esaase to the central processing facility, which completes the permitting process for Esaase. We expect an initial development decision to be made by the Joint Venture management committee in Q4 2018.”

This news release should be read in conjunction with Asanko’s Management Discussion and Analysis and the Unaudited Condensed Consolidated Interim Financial Statements for the three and six months ended June 30, 2018, which are available at www.asanko.com and filed on SEDAR.


Key Operating and Financial Highlights
Asanko Gold Mine 100% Basis
Q2 2018 Q1 2018 Q2 2017
Waste Mined (‘000t) 9,814 11,976 6,457
Ore Mined (‘000t) 945 767 1,049
Average Gold Grade Mined (g/t) 1.5 1.3 1.5
Strip Ratio (W:O) 10.4:1 15.7:1 6.2:1
Mining Cost ($/t mined) 3.65 3.23 3.22
Ore Treated (‘000t) 1,374 1,269 887
Gold Feed Grade (g/t) 1.4 1.3 1.7
Gold Recovery (%) 94 93 94
Processing Cost ($/t treated) 9.95 11.17 12.80
Gold Production (oz) 53,501 48,229 46,017

Gold Sales (oz) 51,785 48,899 48,461
Average Realized Gold Price ($/oz) 1,286 1,314 1,238
Operating Cash Costs2 ($/oz) 582 571 572
Total Cash Costs2 ($/oz) 646 637 634
All-in Sustaining Costs3 ($/oz) 1,068 1,226 930
All-in Sustaining Margin1 ($/oz) 218 88 308

Revenue ($m) 66.8 64.4 60.2
Production Costs, including Royalties ($m) 33.8 31.6 31.3
Income from Mine Operations ($m) 16.1 19.5 14.5
Net income (loss) attributable to common shareholders ($m) (142.3) 2.1 0.6
Net income (loss) per share attributable to common shareholders ($0.63) $0.01 $0.00
Adjusted net income attributable to common shareholders ($m) 1 2.3 2.1 0.6
Adjusted net income per share attributable to common shareholders1 $0.01 $0.01 $0.00

Cash provided by operating activities ($m) 13.4 19.1 33.7
Cash provided by operating activities before working capital changes ($m) 28.6 30.5 26.7
Cash provided by operating activities per common share1 $0.06 $0.09 $0.17

Q2 2018 Operating Results

• The Company produced 53,501 ounces of gold for Q2 2018 and 101,731 ounces of gold for the half year, exceeding the upper end of H1 2018 guidance of 90,000 – 100,000 ounces.
• Ore mining rates for Q2 2018 averaged 315,000 tonnes per month (“tpm”) at an average mining grade of 1.5g/t and a strip ratio of 10.4:1. Ore tonnes and average grade mined increased from Q1 2018 as steady state mining operations resumed at Nkran in June.
• During the quarter, the Asanko Gold Mine (“AGM”) sourced ore from Nkran, Akwasiso, Dynamite Hill and on-surface stockpiles:

At Nkran, 321,000 tonnes of ore was mined at an average grade of 1.8 g/t while mining operations focused on progressing the Eastern portion of the Cut 2 pushback. In June, steady state operations resumed a month ahead of schedule, mining 178,000 tonnes at 1.9g/t.
The Akwasiso satellite deposit delivered 356,000 tonnes of ore at a grade of 1.1g/t and Dynamite Hill delivered 251,000 tonnes of ore at an average grade of 1.9 g/t.
• There were no lost time injuries (“LTI”) reported during the quarter, and the AGM has now achieved over fifteen months and more than 7.7 million man hours worked without a single LTI.
• During Q2 2018, the processing plant achieved another quarterly record milling performance of 1.37 million tonnes (“Mt”), which exceeds the design throughput rate of the recently upgraded 5Mtpa processing plant. In order to meet the higher-than-planned throughput, mined ore was supplemented with lower-grade stockpiled ore, resulting in lower plant feed grades (1.4g/t), compared to the average grade that was mined during the period.
• Completed the commissioning of the recovery circuit upgrades and installation of the new upgraded mill motor on the SAG mill. In addition, a secondary cone crusher was installed during the quarter, which contributed to a finer product being delivered to the SAG mill. The addition of this crusher to the circuit contributed to the significant improvement in processing throughput rate for the quarter.
• Gold recovery continued to exceed design at 94% despite the elevated mill throughput rates and lower feed grade.
• Completed the commissioning of the P5M recovery circuit upgrades.
• On July 31, 2018, the Company announced the completion of the $185.0 million JV Transaction with Gold Fields under which Gold Fields acquired a 50% interest in all of Asanko’s Ghanaian interests, including the AGM. Asanko to remain operator and manager of the AGM.
• The Company received an amended Esaase Environmental Permit, which allows for a trucking operation to haul ore from the large-scale Esaase deposit to the central processing facility at the AGM. With the receipt of the amended permit, the Esaase mine is now fully permitted.
• In support of commencing mining operations at Esaase in January 2019, an extensive pre-production program got underway at Esaase, including additional infill exploration drilling and an extensive core re-logging exercise to improve the definition of the geology and controls to mineralization within the proposed pit and to facilitate a more robust resource model. All the new data will be incorporated to enhance the Mineral Resource Estimate and associated mine plan for Esaase which is targeted to be completed during Q4 2018.

Q2 2018 Financial Performance

The Company recognized revenues of $66.8 million in Q2 2018 compared to $60.2 million in Q2 2017. The $6.6 million increase in revenues was a result of higher sales volume, augmented by higher average realized selling prices.
Total cost of sales (including depreciation and depletion and royalties) amounted to $50.7 million in Q2 2018, an increase of $5.0 million from Q2 2017. The increase in cost of sales was predominantly due to a $2.5 million increase in depreciation and depletion resulting from a higher asset cost base, as well as increased mill throughput, in Q2 2018 compared to Q2 2017. In addition, cost of sales was $1.9 million higher in Q2 2018 compared to the prior year as a result of higher sales volumes, which also gave rise to a $0.3 million increase in royalty expense.
The Company reported a net loss attributable to common shareholders of $142.3 million in Q2 2018 compared to net income of $0.6 million in Q2 2017. The net loss during Q2 2018 was solely attributable to the recognition of a loss ($144.6 million) due to reclassification of the Company’s Ghanaian subsidiaries to net assets held for sale, resulting from the Gold Fields JV Transaction. In addition, the Company incurred higher exploration expense ($1.7 million increase) and an increase in finance expense of $1.0 million. These factors were partially offset by higher mine operating earnings ($1.6 million increase) and a lower income tax expense ($2.2 million decrease).
Adjusted net income attributable to common shareholders was $2.3 million in Q2 2018, compared to $0.7 million in Q2 2017, corresponding to the $1.6 million higher income from mine operations.
Mining costs averaged $3.65/t mined during Q2 2018 compared to $3.22/t in Q2 2017. Mining costs per tonne were higher than Q2 2017 as a result of higher drilling and blasting and loading and hauling costs associated with the progression of Cut 2 at Nkran. Of the mining costs incurred during Q2 2018, a total of $17.8 million was deferred as stripping costs.
Processing costs averaged $9.95/t milled compared to $12.80/t in Q2 2017. Processing unit costs were lower than Q2 2017 due the very strong operating performance of the plant, which on an annualized basis surpassed the newly upgraded throughput levels of 5Mtpa. As a result, there was a 55% increase in treated tonnes compared to Q2 2017, which had the impact of decreasing fixed processing costs on a per unit basis. In addition, the Company benefitted from a reduction in the unit price of power.
In Q2 2018, the Company incurred operating cash costs per ounce2, total cash costs per ounce2 and AISC3 of $582, $646 and $1,068, respectively.
AISC3 for H1 2018 was $1,145/oz, which is below the Company’s H1 2018 cost guidance of $1,200-$1,300/oz. The relatively lower AISC for H1 2018 was a result of more gold ounces sold relative to plan and lower processing costs and overhead expenses.
Cash provided by operating activities in Q2 2018 was $13.4 million, a 60% decrease from Q2 2017. Operating cash flow before working capital changes was $28.6 million in Q2 2018, 7% higher than Q2 2017 of $26.7 million. The increase in operating cash flows before working capital changes was primarily due to higher revenues, partially offset by higher cash production costs and exploration expenditures.
Q2 2018 Liquidity and Capital Resources

As at June 30, 2018, the Company had cash of $42.4 million on hand, $0.8 million in receivables from gold sales and unrefined gold dore at a cost of $5.1 million (and a market value of $6.8 million).
Concurrent with the closing of the JV Transaction, the Company used the proceeds from the Gold Fields JV Transaction to repay in full the outstanding debt principal and accrued interest to Red Kite. Asanko is now debt-free.
2018 Guidance

The Company is on track to meet its 2018 guidance of 200,000 - 220,000 ounces at AISC3 of $1,050 - 1,150/oz for 2018.

For H1 2018, the Company exceeded guidance producing 101,731 ounces at AISC3 of $1,145/oz against a forecast of 90,000 - 100,000 ounces at AISC3 of $1,200 - 1,300/oz.

In H2 2018, with Nkran Cut 2 pushback yielding steady-state levels of ore production, guidance is expected to be 110,000 - 120,000 ounces at AISC3 $950 - 1,050/oz.

Notes:
1 Non-GAAP Performance Measures

The Company has included certain non-GAAP performance measures in this press release, including working capital, operating cash costs, total cash costs, all-in sustaining costs per ounce of gold produced, all-in sustaining margin and operating cash flow per common share. These non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

2 Operating Cash Costs per ounce and Total Cash Costs per ounce

Operating cash costs are reflective of the cost of production, adjusted for share-based payments and by-product revenue per ounce of gold sold. Total cash costs include production royalties of 5%.

3 All-in Sustaining Costs Per Gold Ounce
The Company has adopted the reporting of “all-in sustaining costs per gold ounce” (“AISC”) as per the World Gold Council’s guidance. AISC include total cash costs, corporate overhead expenses, sustaining capital expenditure, capitalized stripping costs and reclamation cost accretion per ounce of gold sold.

Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Q2 2018 Operating & Financial Results Conference Call & Webcast today at 9am ET


US/Canada Toll Free: 800 954 0629

UK Toll Free: 0800 496 0445

International: +1 212 231 2933

Webcast:
Please click on the link: https://cc.callinfo.com/r/1l06ddgf0g2fx&eom

Replay:
A recorded playback will be available approximately two hours after the call until September 1, 2018:

US/Canada Toll Free: 800 558 5253

UK Toll Free: 0800 692 0831

International: +1 416 626 4100

Passcode: 21891372

About Asanko Gold Inc.
Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Forward-Looking and other Cautionary InformationThis release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company’s most recent AIF and 40-F filings, available under the Company’s profile on SEDAR at www.sedar.com and EDGAR at www.sec.gov.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc

Asanko Gold Announces Q2 2018 Production Results

7:00 am ET July 12, 2018 (Globe Newswire)

Quarterly gold production of 53,501 ounces and half year production of 101,731 ounces, exceeding upper end of H1 2018 guidance of 90,000 – 100,000 ounces
Quarterly gold sales of 51,785 ounces, generating US$66.6 million in gold revenue at an average realized price of US$1,286 per ounce
Mining operations at Nkran returned to steady state levels in June, mining 178,000 tonnes at 1.9g/t
Another record quarterly mill throughput achieved with 1.37 million tonnes of ore processed
Zero lost time injuries during the quarter, maintaining industry-leading safety LTIFR record on a rolling 12 month basis of 0
Receipt of amended Esaase Environmental Permit to include a trucking operation
Approximately US$48.1 million in unaudited cash and immediately convertible working capital balances as at June 30, 2018

VANCOUVER, British Columbia, July 12, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) announces production results for the second quarter (“Q2”) of 2018 from the Asanko Gold Mine (“AGM”), located in Ghana, West Africa.

Commenting on the quarter Peter Breese, President and CEO, said “The Asanko Gold Mine delivered another set of solid production results this quarter, exceeding the top end of our H1 2018 guidance. Steady state levels of ore production at Nkran resumed in June, a month ahead of schedule, and the processing facility achieved yet another quarterly milling record. We are well positioned to meet our H2 2018 and full year guidance.”

Health and Safety
There were no lost time injuries (“LTI”) reported during the quarter. As at June 30, 2018, the mine achieved over fifteen months without a Lost Time Injury with 7,700,352 million man hours worked.

Production
During the quarter, the AGM sourced ore from Nkran, Akwasiso, Dynamite Hill as well as on-surface stockpiles. Whilst mining operations at Nkran continued to focus on waste removal as part of the ongoing larger Cut 2 push back, in June steady state levels of ore production resumed, a month ahead of schedule. Mined gold grades for the quarter were in line with the plan and increased slightly over Q1 2018 with the additional of ore from Nkran.

The processing plant achieved yet another quarterly record milling performance of 1.37 million tonnes, processing a monthly record of 479,361 tonnes in June, which is well above the recently upgraded design of 5 million tonnes per annum. Feed grades to the processing facility were lower than the grade of ore mined due lower grade stockpiles supplementing the ore feed to meet the required volumes being processed by the mill, which were well above the plan. Metallurgical recovery was in line with the plan despite significantly higher volume throughput at lower feed grade.

In H2 2018, gold grade and production is expected to be higher as Nkran continues to deliver steady state levels of ore production, with the Company targeting production of 110,000 - 120,000 ounces.

AGM Key Production Statistics Units Q3 2017 Q4 2017 Q1 2018 Q2 2018
Total Tonnes Mined 000 t 8,519 11,494 12,743 10,759
Waste Tonnes Mined 000 t 7,339 10,692 11,976 9,814
Ore Tonnes Mined 000 t 1,180 802 767 945
Strip Ratio W:O 6.2:1 13.3:1 15.7:1 10.4:1
Average Gold Grade Mined g/t 1.8 1.5 1.3 1.5
Ore Treated 000 t 862 1,087 1,269 1,374
Gold Feed Grade g/t 1.9 1.5 1.3 1.4
Gold Recovery % 94 94 93 94
Gold Produced oz 49,293 51,550 48,229 53,501
Esaase Permitting Update
Asanko recently received an amended Environmental Permit from the Ghanaian Environmental Protection Agency which includes a trucking operation to haul ore from the large scale Esaase deposit to the central processing facility at the AGM. With the receipt of the amended permit, the Esaase mine is now fully permitted. A decision to proceed with the initial development of Esaase is expected in Q3 2018.

Sales and Liquidity
Gold production for the quarter was 53,501 ounces with gold sales of 51,785 ounces at an average realized price of US$1,286 per ounce, generating gold sales revenue of US$66.6 million. At June 30, 2018 the Company’s balance sheet held approximately US$42.3 million in unaudited cash, US$0.7 million in gold receivables and US$5.1 million in dore (with a market value of US$7.1 million).

Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Q2 2018 Operating & Financial Results Conference Call & Webcast at 9am ET on Thursday, August 2, 2018

US/Canada Toll Free: 800 954 0629
UK Toll Free: 0800 496 0445
International: +1 212 231 2933

Webcast:
Please click on the link: https://cc.callinfo.com/r/1l06ddgf0g2fx&eom

Replay:
A recorded playback will be available approximately two hours after the call until September 1, 2018:
US/Canada Toll Free: 800 558 5253
UK Toll Free: 0800 692 0831
International: +1 416 626 4100
Passcode: 21891372
Enquiries: For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

About Asanko Gold Inc.
Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa.

Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Forward-Looking and other Cautionary Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


Source: Asanko Gold Inc

Asanko Gold Receives Ghana Government Approval for US$185 Million Gold Fields Joint Venture Transaction

VANCOUVER, British Columbia, June 22, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE MKT:AKG) is pleased to announce that it has received approval from the Ghanaian Minister of Lands and Natural Resources, whose approval was the principal condition to the closing of Asanko’s previously announced joint venture transaction (the “Transaction”) with Gold Fields Limited (JSE, NYSE: GFI) for a 50% interest in Asanko’s 90% interest in the Asanko Gold Mine in Ghana, West Africa.

Completion of the Transaction is now expected in early July, 2018. The final form of the joint venture agreement will be publically filed after completion. Completion now remains subject only to certain customary closing documentation and a lender’s consent from Exp T2 Ltd. (“Red Kite”), which are all expected to be in-hand in the ordinary course before the targeted completion time.

Red Kite has agreed to defer the first principal repayment, approximately US$20 million, due on July 1, 2018 until August 1, 2018 to facilitate the Transaction. Asanko intends to use the cash proceeds from the Transaction to repay in full all outstanding principal and accrued interest (US$164 million) owing to Red Kite under the Definitive Senior Facilities Agreement. There are no early repayment penalties associated with the Red Kite debt.

Peter Breese, President and CEO, said “I’d like to thank the Minister of Lands and Natural Resources for expediting approval of our Joint Venture transaction with Gold Fields and our in-country advisors, Kimathi and Partners, who have guided us through this approval process. Upon conclusion of this Transaction and repayment of the Red Kite debt facility, we will be debt-free and poised to grow our business and expand our production base.”

About Asanko Gold Inc.
Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa.

Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Forward-Looking and other Cautionary InformationThis release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the completion of announced agreements including the agreement with Gold Fields, future operations and completion conditions are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unexpected third party requirements, the absence of any material adverse events between the date hereof and completion.. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc

Asanko Gold Reports Q1 2018 Results

VANCOUVER, British Columbia, May 10, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) reports its first quarter (“Q1”) 2018 operating and financial results. The Company released its production and revenue results for Q1 2018 on April 19, 2018. All amounts are in US dollars unless otherwise stated. Management will host a conference call and webcast today at 9am Eastern Time, further details below.

Q1 2018 Highlights:

No lost time injuries during the quarter or on a rolling 12 month basis, maintaining industry leading lost time injury frequency rate (“LTIFR”) of 0 per million man hours worked.

Quarterly gold production of 48,229 ounces, in line with H1 2018 guidance of 90,000 – 100,000 ounces.
Gold sales of 48,899 ounces at an average realized price of $1,314/oz generating gold revenue of $64.2 million.

Reduction in operating cash costs2 to $571/oz (Q4 2017: $586/oz) and total cash costs2 to $637/oz (Q4 2017: $649/oz).

AISC3 of $1,226/oz (Q4 2017: $1,171/oz), in line with the Company’s H1 2018 cost guidance, including a total of $533/oz associated with deferred striping, of which $467/oz is attributable to the investment in the larger Cut 2 pushback at Nkran.

Cash provided by operating activities of $19.1 million ($30.5 million before working capital changes), compared to $34.4 million in Q4 2017 primarily due to changes in non-cash working capital, partially offset by a higher revenue and lower production costs for the quarter.
Earned net income attributable to common shareholders of $2.1 million ($0.01 per common share), a $9.3 million increase relative to Q4 2017.
Cash and immediately convertible working capital of $42.9 million, as at March 31, 2018.

Announced a joint venture arrangement with Gold Fields under which Gold Fields will acquire a 50% interest in all of Asanko’s Ghanaian interests, including the Asanko Gold Mine. Asanko to remain operator and manager of the Asanko Gold Mine. Gold Fields to pay the Company $185 million for its interest and also subscribed for $17.6 million of common shares of Asanko on April 4, 2018.

Commenting on the quarter Peter Breese, President and CEO, said “The mine’s strong operational performance was mirrored in the financial results for the quarter as we returned to profitability. The record mill throughput for the quarter drove down processing unit costs by 13% relative to Q4 2017 and helped to ensure AISC3 was at the lower end of our forecast guidance for H1 2018.

During the quarter we continued to focus on waste stripping the larger optimized Nkran pushback, which accounted for 38% of our quarterly AISC3. This planned waste stripping exercise is progressing ahead of schedule and we expect commercial quantities of ore from Nkran to resume in Q3 2018, which will have the effect of increasing mill feed grades and lowering our AISC3 in H2 2018.

Net income attributable to common shareholders for the quarter was $2.1 million, a $9.3 million improvement compared to the previous quarter, due to a decrease in deferred income tax expense, a higher average realized gold price and lower production costs.

During the quarter we also announced a $185 million joint venture transaction with Gold Fields Limited (JSE, NYSE: GFI), one of the world’s largest gold producers and the second largest gold producer in Ghana, who will acquire 50% of Asanko’s interest in the Asanko Gold Mine. We will continue to operate and manage the mine, which is a great vote of confidence in both the quality of the asset as well as the management team. The transaction is progressing well and we remain on track for closing before the end of Q3 2018.”

This news release should be read in conjunction with Asanko’s Management Discussion and Analysis and the Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2018, which are available at www.asanko.com and filed on SEDAR.


Key Operating and Financial Highlights
Asanko Gold Mine
Q1 2018 Q4 2017 Q1 2017
Waste Mined (‘000t) 11,976 10,692 5,620
Ore Mined (‘000t) 767 802 1,017
Strip Ratio (W:O) 15.7:1 13.3:1 5.5:1
Mining Cost ($/t mined) 3.23 2.82 3.89
Ore Treated (‘000t) 1,269 1,087 908
Gold Feed Grade (g/t) 1.3 1.5 2.1
Gold Recovery (%) 93 94 95
Processing Cost ($/t treated) 11.17 12.91 13.3
Gold Production (oz) 48,229 51,550 58,187

Gold Sales (oz) 48,899 49,561 57,812
Average Realized Gold Price ($/oz) 1,314 1,264 1,199
Operating Cash Costs2 ($/oz) 571 586 578
Total Cash Costs2 ($/oz) 637 649 638
All-in Sustaining Costs3 ($/oz) 1,226 1,171 956
All-in Sustaining Margin1 ($/oz) 88 93 243

Revenue ($m) 64.4 62.8 69.5
Production Costs, including Royalties ($m) 31.6 32.5 37.7
Income from Mine Operations ($m) 19.5 15.1 15.1
Net income (loss) attributable to common shareholders ($m) 2.1 (7.1 ) 7.7
Net income (loss) per share attributable
to common shareholders $0.01 $(0.03 ) $0.04

Cash provided by operating activities ($m) 19.1 34.4 14.4
Cash provided by operating activities before working capital changes ($m) 30.5 26.2 28.8
Cash provided by operating activities per common share1 $0.09 $0.17 $0.07
Q1 2018 Operating Results

During Q1 2018, the Company produced 48,229 gold ounces as the Company continued to focus on operational delivery against plan, while progressing the larger Cut 2 pushback at Nkran, which is ahead of schedule.
Ore mining rates for Q1 2018 averaged 255,667 tonnes per month (“tpm”) at an average mining grade of 1.3 g/t and a strip ratio of 15.7:1. Ore tonnes and average grade mined were lower relative to Q1 2017, as expected, due to lower ore yield from Nkran. Mining operations at Nkran continued to focus on waste removal as part of the ongoing larger Cut 2 pushback, resulting in a higher strip ratio.
Average grade mined and gold production is forecasted to increase in the second half of the year when Cut 2 at Nkran will start delivering steady state levels of ore production, thereby reducing the dependence on stockpiles and increasing the grade delivered to the mill.
During the quarter, the AGM sourced ore from Nkran, Akwasiso, Dynamite Hill and Nkran Extension as well as on-surface stockpiles.
At Nkran, 34,333tpm of ore was mined at an average grade of 1.3 g/t while mining operations focused on progressing the larger Cut 2 pushback.
The Akwasiso satellite deposit delivered approximately 147,000tpm of ore at a grade of 1.2g/t and Dynamite Hill, the second satellite pit to be brought into production, delivered 67,333tpm of ore at an average grade of 1.6 g/t.
There were no lost time injuries (“LTI”) reported during the quarter. On March 19, 2018, the AGM achieved one-year LTI-free with over 5.9 million man hours worked.
During Q1 2018, the processing plant achieved another quarterly record milling performance of 1.3 million tonnes (“Mt”), processing a monthly record of 432,410 tonnes in March, which is above the recently upgraded design of 5Mtpa throughput. The feed grade to the plant was 1.3 g/t during Q1 2018.
Gold recovery continued to exceed design at 93% despite the elevated mill throughput rates and lower feed grade.
Completed the installation of the P5M recovery circuit upgrades with commissioning expected to be complete in Q2 2018.
The secondary crusher was delivered to the AGM and is expected to be installed in Q2 2018 and commissioned during Q3 2018.
On March 29, 2018, the Company announced a joint venture arrangement with Gold Fields Limited under which Gold Fields will acquire a 50% interest in all of Asanko’s Ghanaian assets, including the AGM.
Q1 2018 Financial Performance

The Company recognized revenue of $64.4 million in Q1 2018 from the sale of 48,899 gold ounces at an average realized gold price of $1,314/oz, compared to $69.5 million in Q1 2017. The $5.1 million decrease in revenues relative to Q1 2017 was a result of lower sales volume, partly offset by a higher average realized selling price.
Total cost of sales (including depreciation, depletion and royalties) amounted to $44.9 million in Q1 2018, a decrease of $9.5 million from Q1 2017. The decrease in production costs was largely due to lower sales volumes and inventory valuation adjustments.
Net income attributable to common shareholders of $2.1 million in Q1 2018 compared to net income of $7.7 million in Q1 2017. The decrease in net income during Q1 2018 was primarily attributable to a higher deferred income tax expense ($9.0 million increase) and an increase in finance expense of $1.0 million. These factors were partially offset by higher mine operating income ($4.4 million increase) and lower G&A expense ($0.5 million decrease). Net income before tax for Q1 2018 was $11.9 million compared to $7.6 million during Q1 2017, a 58% increase.
Mining costs averaged $3.23/t mined compared to $3.89/t in Q1 2017. Mining costs per tonne were lower than Q1 2017 as a result of a higher relative oxide material mix as well as the progression of Cut 2 at Nkran resulting in more tonnes mined, which had the impact of decreasing fixed mining costs on a per unit basis. Of the mining costs incurred during Q1 2018, a total of $26.1 million was deferred as stripping costs.
Processing costs averaged $11.17/t milled compared to $13.36/t in Q1 2017. Processing unit costs were lower than Q1 2017 due to the plant operating at the newly upgraded levels of 5Mtpa for the quarter, resulting in a 40% increase in treated tonnes compared to Q1 2017, which had the impact of decreasing fixed processing costs on a per unit basis.
The Company incurred operating cash costs per ounce2, total cash costs per ounce2 and AISC3 of $571, $637 and $1,226, respectively, in Q1 2018. The high AISC3 in Q1 2018 is in line with the Company’s H1 2018 cost guidance and is a result of the Company’s investment in mine development associated with the larger Cut 2 pushback at Nkran.
Cash provided by operating activities in Q1 2018 was $19.1 million, a 33% increase from Q1 2017. Operating cash flow before working capital changes was $30.5 million in Q1 2018, 6% higher than Q1 2017 of $28.8 million. The increase in operating cash flows before working capital changes was primarily due to a decrease in the Company’s production costs and general and administrative expenses in Q1 2018, partially offset by lower revenues.
Q1 2018 Liquidity and Capital Resources

As at March 31, 2018, the Company had cash of $38.6 million on hand, $0.8 million in receivables from gold sales and unrefined gold dore at a cost of $3.5 million (and a market value of $5.3 million).
On April 4, 2018, as part of the joint venture arrangement, Gold Fields purchased a 9.9% interest in the common shares of the Company via a private placement for gross proceeds of $17.6 million (22,354,657 common shares at $0.79 per common share).
On July 1, 2018, the first principal repayment of the Red Kite debt is due, however Asanko expects to repay the Red Kite debt facility from the proceeds of the JV transaction. In the event that the JV Transaction has not completed by July 1, 2018, Gold Fields has agreed to provide a bridge loan of up to $20.0 million to Asanko, which can be drawn at Asanko’s sole discretion. The bridge loan will be credited towards Gold Fields’ contribution to the Joint Arrangement on closing. Closing of the Gold Fields transaction is expected to occur before the end of Q3 2018. Upon closing, Asanko will emerge as a debt free company.
2018 Guidance

The Company is targeting 200,000 - 220,000 ounces at AISC3 of $1,050 - 1,150/oz for 2018, however the first half of the year is expected to have lower production and higher costs due to the focus on waste stripping the Nkran Cut 2 pushback, with guidance of H1 2018 of 90,000 - 100,000 ounces at AISC3 of $1,200 - 1,300/oz expected. In Q1 2018 Asanko’s production and AISC3 were both well within the guidance range.

In H2 2018, the Nkran Cut 2 pushback will commence yielding steady-state levels of ore production and therefore guidance is 110,000 - 120,000 ounces at AISC3 $950 - 1,050/oz.

Notes:
1 Non-GAAP Performance MeasuresThe Company has included certain non-GAAP performance measures in this press release, including working capital, operating cash costs, total cash costs, all-in sustaining costs per ounce of gold produced, all-in sustaining margin and operating cash flow per common share. These non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

2 Operating Cash Costs per ounce and Total Cash Costs per ounceOperating cash costs are reflective of the cost of production, adjusted for share-based payments and by-product revenue per ounce of gold sold. Total cash costs include production royalties of 5%.

3 All-in Sustaining Costs Per Gold Ounce
The Company has adopted the reporting of “all-in sustaining costs per gold ounce” (“AISC”) as per the World Gold Council’s guidance. AISC include total cash costs, corporate overhead expenses, sustaining capital expenditure, capitalized stripping costs and reclamation cost accretion per ounce of gold sold.

Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Q1 2018 Operating & Financial Results Conference Call & Webcast at 9am ET on Thursday, May 10, 2018

US/Canada Toll Free: 800 768 3232

UK Toll Free: 0800 496 0830

International: + 1 212 271 4651

Webcast:
Please click on the link: https://cc.callinfo.com/r/1rmbvkh4ab6mf&eom

Replay:
A recorded playback will be available approximately two hours after the call until June 9, 2018:
US/Canada Toll Free: 800 633 8284
International: +1 402 977 9140
Passcode: 21887966


Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

About Asanko Gold Inc.
Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Forward-Looking and other Cautionary InformationThis release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's the Company’s most recent AIF and 40-F filings, available under the Company’s profile on SEDAR at www.sedar.com and EDGAR at www.sec.gov.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc
© 2018 GlobeNewswire, Inc.

Asanko Gold Publishes 2017 Corporate Social Responsibility Report

VANCOUVER, British Columbia, May 07, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) today publishes its 2017 Corporate Social Responsibility (“CSR”) Report, which provides a detailed review of Asanko’s CSR strategy and performance during the year, including its contribution to both the local communities in which it operates and its host country, Ghana.

Peter Breese, President and CEO, said, “We believe genuine sharing of the benefits generated by the mine is key to supporting economic development and growth in our local communities and host country, ultimately underpinning the future success of our business.

In 2017, we expanded the involvement of indigenous companies in our operations and awarded the open pit mining contracts for the Akwasiso and Dynamite Hill satellite deposits to locally-based companies, Thonket and Rocksure respectively. As a result, we now have Ghanaian businesses involved in every aspect of our mine, from mining contractors through to key supplies, power, fuel, to catering and transport. 99% of our workforce is Ghanaian, of which 37% are from the local communities surrounding the mine.

In 2017, our economic contribution to Ghana was just over $255 million, supporting 277 Ghanaian businesses, 78 of which are from the Ashanti region where the mine is located, with the purchase of goods and services valued at $167 million.”

To learn more about Asanko’s CSR activities, please view the 2017 CSR Report on the Company’s website: http://www.asanko.com.

About Asanko Gold Inc.
Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa.

Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Source: Asanko Gold Inc
© 2018 GlobeNewswire, Inc.

Asanko Gold Annual General Meeting Information

VANCOUVER, B.C., May 03, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE MKT:AKG) advises it will hold its Annual General Meeting of shareholders (“AGM”) on Friday June 8, 2018 at 10am PDT, in Vancouver, B.C., Canada.

Materials for the AGM, including the Company’s management proxy circular (the “Proxy Circular”), have been filed under the Company’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov and are also available on the Company’s website at www.asanko.com/Investors/AGM-Materials/.

In the Proxy Circular, the Company provides details of its proposal to re-elect its current slate of seven directors and reappoint KPMG LLP as auditors.

Shareholder Questions:

Shareholders who have any questions or require assistance with voting may contact Asanko’s Proxy Solicitation Agent:

Laurel Hill Advisory GroupToll Free: 1-877-452-7184
International: +1 416-304-0211 outside Canada and the US
By Email: assistance@laurelhill.com

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Enquiries:

For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N. America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Source: Asanko Gold Inc

Asanko Gold Announces Q1 2018 Production Results

Q1 2018 Highlights:

Quarterly gold production of 48,229 ounces and gold sales of 48,899 ounces, in line with H1 2018 guidance of 90,000 – 100,000 ounces
US$64.2 million in gold revenue at an average realized price of US$1,314 per ounce
Nkran Cut 2 push back progressing ahead of schedule
Record quarterly mill throughput of 1.27 million tonnes, demonstrating the processing plant’s ability to sustain throughput at newly upgraded levels of 5Mtpa
Zero lost time injuries and industry-leading safety LTIFR record on a rolling 12 month of 0.
Approximately US$43.2 million in unaudited cash and immediately convertible working capital balances as at March 31, 2018

VANCOUVER, British Columbia, April 19, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) announces production results for the first quarter (“Q1”) of 2018 from the Asanko Gold Mine (“AGM”), located in Ghana, West Africa.

Commenting on the quarter Peter Breese, President and CEO, said, “This is the second consecutive quarter that the mine has performed ahead of the optimized Life of Mine Plan, which was introduced in late Q3 2017. The mine performed exceptionally well and is ahead of plan on the key metrics of gold production, grade and mill throughput. The enlarged Nkran push back is progressing ahead of schedule and the mill delivered yet another record milling performance, both for the quarter and for the month of March, which is very encouraging. We are on track to meet our plan and guidance for H1 2018.

I would also like to take this opportunity to congratulate the entire team for achieving our first year without any lost time injuries, this is a fantastic result and I’m pleased to see such diligent commitment by all our employees and contractors to working in a safe environment and ensuring every one of us goes home safely after each shift. ”

Health and Safety
There were no lost time injuries (“LTI”) reported during the quarter. On March 19, 2018, the mine achieved one year LTI-free with over 5,945,246 million man hours worked.

Production
During the quarter, the AGM sourced ore from Nkran, Akwasiso, Dynamite Hill and Nkran Extension as well as on-surface stockpiles. Mining operations at Nkran continued to focus on waste removal as part of the ongoing larger Cut 2 push back, with a consequent increase in the strip ratio. Gold grades for the quarter were lower, as expected, due to the lower ore yield from Nkran, and feeding lower grade surface stockpiles to the mill. Grade and gold production is expected to be biased towards the second half of the year when Cut 2 at Nkran will start delivering steady state levels of ore production, thereby reducing the dependence on stockpiles.

The processing plant achieved another quarterly record milling performance of 1.27 million tonnes, processing a monthly record of 432,410 tonnes in March, which is above the recently upgraded design of 5 million tonnes per annum throughput. Metallurgical recovery was slightly ahead of plan and continued to exceed design levels despite higher mill throughput and lower feed grade.


AGM Key Production Statistics Units Q2 2017 Q3 2017 Q4 2017 Q1 2018
Total Tonnes Mined 000 t 7,506 8,519 11,494 12,743
Waste Tonnes Mined 000 t 6,458 7,339 10,692 11,976
Ore Tonnes Mined 000 t 1,048 1,180 802 767
Strip Ratio W:O 6.2:1 6.2:1 13.3:1 15.7:1
Average Gold Grade Mined g/t 1.5 1.8 1.5 1.3
Ore Treated 000 t 887 862 1,087 1,269
Gold Feed Grade g/t 1.7 1.9 1.5 1.3
Gold Recovery % 94 94 94 93
Gold Produced oz 46,017 49,293 51,550 48,229

Sales and Liquidity
Gold production for the quarter was 48,229 ounces with gold sales of 48,899 ounces at an average realized price of US$1,314 per ounce, generating gold sales revenue of US$64.2 million. At March 31, 2018 the Company’s balance sheet held approximately US$38.9 million in unaudited cash, US$0.8 million in gold receivables and US$3.5 million in dore (with a market value of US$5.3 million).

Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.



Q1 2018 Operating & Financial Results Conference Call & Webcast at 9am ET on Thursday, May 10, 2018
US/Canada Toll Free: 800 768 3232
UK Toll Free: 0800 496 0830
International: + 1 212 271 4651

Webcast:
Please click on the link: https://cc.callinfo.com/r/1rmbvkh4ab6mf&eom

Replay:
A recorded playback will be available approximately two hours after the call until June 9, 2018:
US/Canada Toll Free: 800 633 8284
International: +1 402 977 9140
Passcode: 21887966


About Asanko Gold Inc.Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa.

Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Forward-Looking and other Cautionary InformationThis release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc

Asanko Gold Wins Outstanding Workplace Malaria Control Award

VANCOUVER, British Columbia, April 10, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) is pleased to announce that the Asanko Gold Mine has won the Outstanding Workplace Malaria Control Award, presented by the Private Sector Malaria Prevention Project (“PSMP”) at John Hopkins Center for Communication, as part of the West Africa Regional Malaria Safe awards.

The Asanko Gold Malaria Safe Mine Champions

Asanko’s award fell under the Sustainability-Focused Malaria Programing category and had peers such as Exxon Mobil (Nigeria), Access Bank (Nigeria) and Ecobank (Ghana), all of whom received similar awards.

Commenting on the award, Peter Breese, President and CEO, said “We are delighted to win this West Africa Regional Award recognizing our efforts to combat malaria amongst our workforce. I’d like to congratulate all our Malaria Safe Mine Champions for their role in educating colleagues on malaria prevention strategies as we work towards a malaria-free mine.”

The PSMP aims to accelerate private-sector workplace investments in malaria prevention; corporate insecticide-treated net distribution to employees, their families and their communities; and workplace malaria education sessions for employees and community members.

In a bid to reduce the burden of malaria on the mine and its surrounding communities, the Asanko Malaria Control Program was launched in February this year. 40 Asanko Malaria Safe Mine Champions have been trained to drive the malaria campaign in their respective departments and influence malaria safe behaviours among fellow employees. Since its launch, the Asanko Malaria Control Program has conducted mass health education and awareness campaigns on malaria, its signs and symptoms, as well as preventive strategies to avoid the disease, including distribution of mosquito repellents and long lasting insecticide nets, larviciding and 3T patient management to help achieve a significant reduction in malaria.

The PSMP’s Malaria Safe initiative is designed to help companies tackle malaria as a health issue in the workplace, as well as in adjoining communities with the ultimate goal being to build a partnership of active companies that are protecting employees and communities from the disease. It is funded by the UK Department for International Development and implemented by the Johns Hopkins Center for Communication Programs with partners such as the National Malaria Control Program of the Ghana Health Service, the Global Business Coalition on Health (GBCHealth).

About Asanko Gold Inc.Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/18be1795-7475-4e73-9cf0-6e1fabf95d73

Enquiries:

For further information please visit: http://www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Source: Asanko Gold Inc

Asanko Gold Completes US$17.6 Million Private Placement by Gold Fields for 9.9% Interest in Asanko

VANCOUVER, British Columbia, April 05, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) is pleased to announce that it has completed the previously announced private placement with Gold Fields Limited (“Gold Fields”) (JSE:GFI) (NYSE:GFI), pursuant to which a subsidiary of Gold Fields has acquired a 9.9% interest in Asanko. The private placement involved the issue of 22,354,657 common shares of Asanko at a price of approximately US$0.79 (C$1.01) per share for total aggregate proceeds of US$17.6 million.

Concurrent with the completion of the private placement, Asanko entered into an investor rights agreement with the Gold Fields subsidiary which provides certain rights to Gold Fields to participate in future Asanko share issuances in order to maintain its 9.9% shareholding for up to five years. In addition, Gold Fields has agreed that it will standstill at this level of ownership for a one year period unless Asanko otherwise consents, and will support Asanko management nominees at shareholder meetings.

The completion of the private placement is the first step in the series of transactions under which Asanko and Gold Fields will, among other things, form an incorporated 50:50 joint venture in the Asanko Gold Mine (the “JV Transaction”). Completion of the JV Transaction remains subject to customary conditions precedent including that no material adverse event occurs and the Ghanaian Minister of Lands and Natural Resources does not object. Completion of the JV Transaction is expected to occur before the end of Q3 2018.

The private placement shares are subject to a four month hold period in Canada. The shares were not and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Asanko Gold Inc.
Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

About Gold Fields Limited
Gold Fields Limited is a globally diversified gold producer with seven operating mines in Australia, Ghana, Peru and South Africa, and a total attributable annual gold-equivalent production of approximately 2.2 million ounces. It has attributable gold Mineral Reserves of around 49 million ounces and gold Mineral Resources of around 104 million ounces. Attributable copper Mineral Reserves total 764 million pounds and Mineral Resources 4,881 million pounds. Gold Fields has a primary listing on the Johannesburg Stock Exchange (JSE) Limited, with secondary listings on the New York Stock Exchange (NYSE) and the Swiss Exchange (SIX).

Forward-Looking and other Cautionary Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the completion of announced agreements including the agreement with Gold Fields, estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at http://www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


Enquiries:

For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc

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Asanko Gold to Receive US$185 Million From Gold Fields for 50% Joint Venture Interest and US$17.6 Million for 9.9% Private Placement in Asanko Gold

VANCOUVER, British Columbia, March 29, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) is pleased to announce that it has entered into certain definitive agreements under which Asanko will receive US$185 million for a 50% joint venture (“JV”) interest in its Asanko Gold Mine (“AGM”) from subsidiaries of Gold Fields Limited (“Gold Fields”) (JSE:GFI) (NYSE:GFI), one of the world’s largest gold producers and the second largest gold producer in Ghana.

Under the various transaction agreements (“Transactions”), Asanko and Gold Fields will, among other things, form an incorporated 50:50 corporate JV which will own Asanko’s 90% interest in the Asanko Gold Mine (the “AGM”) and all associated properties in Ghana. The Government of Ghana will continue to hold a free-carried 10% interest. In addition to the JV interest, Gold Fields will purchase a 9.9% shareholding interest in Asanko for approximately US$17.6 million to purchase 22,354,657 shares at approximately US$0.79, equal to the 5-day VWAP as of market close on March 27, 2018. Asanko will host an investor conference call at 9am ET today, details below.

Transaction Highlights

Asanko will receive from Gold Fields: US$165 million in cash, payable upon closing of the JV Transaction expected before end of Q3 2018US$20 million in cash, also payable for the JV Transaction, on an agreed Esaase development milestone but in any event no later than December 31, 2019US$17.6 million from Gold Fields for a 9.9% private placement in Asanko shares at a price of US$0.79 anticipated to be completed in the immediate future
Asanko will remain the manager and operator of the AGM and will continue to be paid an arm’s length management fee for services rendered to the JV of approximately US$6 million per annum
Asanko will use the proceeds primarily to repay its outstanding Red Kite debt of US$164 million
Asanko views the JV as a significantly superior outcome than a restructuring of the Red Kite debt facility as it provides a balanced risk/return profile and creates a debt free platform that will enable Asanko to accelerate growth opportunities and pursue its strategy of becoming a mid-tier gold producer
“This transaction presents a unique opportunity for Asanko to de-risk its future production targets whilst at the same time eliminating corporate debt. With a healthy balance sheet and robust operational cash flows, together with a strong technical endorsement, our Life of Mine plan is assured,” said Asanko President and CEO, Peter Breese.

“After carefully weighing the benefits of this transaction, we have determined that it is superior to the alternative of engaging with Red Kite to extend our debt. With the repayment of the Red Kite debt, Asanko has achieved significant financial flexibility moving forward as we seek to continue to grow our business over the medium term.”

“The mine is now operating well within our business targets, with mining efficiencies and the process plant delivering ahead of plan. With this new investment and the freeing up of our balance sheet, we will now move forward with the development of our large scale Esaase deposit, with a view to commencing production in 2019 with an interim trucking operation until the conveyor is fully operational in late 2020. We look forward to working in partnership with Gold Fields and sharing mining and exploration expertise to create added value for all our stakeholders.”

Nicholas Holland, CEO of Gold Fields, commented: “West Africa is an important part of our business and we look forward to a long partnership with Asanko in Ghana. We view the Asanko Gold Mine as a high quality asset and a great addition to our existing portfolio of open pit gold operations in the country.”

Transaction Rationale

Significantly improved balance sheet Asanko emerges debt free following repayment of Red Kite FacilityStrong attributable pro forma cash position of approximately US$35 million (US$55 million including deferred consideration) as at March 23, 2018
World-Class Partner with Experience in Ghana Gold Fields is Ghana’s second largest gold producer with more than 20 years of in-country experienceGold Fields brings considerable technical and exploration expertise that complements Asanko’s existing development and operating capabilities
Management and Asset Validation Partnership endorses Gold Fields confidence in Asanko’s mine operator capabilitiesPartnership validates the AGM from a technical and operational perspective
Well Positioned for Future Growth Near-term organic growth self funded by the AGM from internally generated cash flowsRobust balance sheet with which to fund growth initiatives
Further Transaction Particulars
Under the terms of the Transaction, on closing, Gold Fields will acquire a 50% participating interest in Asanko’s 90% ownership interest in the AGM for an aggregate US$185 million in cash, of which US$165 million is payable upon closing. The remaining US$20 million is payable upon achievement of an agreed Esaase development milestone but in any event by no later than December 31, 2019.

The closing of the Transaction is expected to occur before end of Q3 2018 and is subject to customary conditions precedent including that no material adverse event occurs and Ghanaian Minister of Lands and Natural Resources does not object.

The Transaction will impact the recognition, presentation and measurement of assets and liabilities associated with the Company’s Ghanaian operations. The results of which are expected to result in a non cash impairment charge based on the JV Transaction indicative asset value.

The Joint Venture Agreement
Asanko will remain the manager (operator) of the AGM. A management committee will be formed, with representatives from each party, to govern the operating and development activities of JV. The JV will continue to pay Asanko an arm’s length management fee for services rendered of approximately US$6 million per annum. The JV will fund its growth from operating cash flow. The JV Agreement has customary terms for program participation elections, dilution of equity interest for non-participation, sole risk rights for new projects and expedited dispute resolution.

The Private Placement and Investor Rights Agreement
Gold Fields has agreed to purchase 22,354,657 common shares of the Company through a private placement, at a price of approximately US$0.79 per share (the “Private Placement”) equal to the 5-day VWAP as of market close on March 27, 2018. The net proceeds of the Private Placement will total approximately US$17.6 million, which will further strengthen Asanko’s balance sheet. These shares are subject to a customary four month resale restricted period in Canada. In connection with the Private Placement, Gold Fields will sign an investor rights agreement with Asanko under which Gold Fields will receive certain rights to participate in future Asanko share issuances in order to maintain its 9.9% shareholding for up to five years. In addition, Gold Fields has agreed that it will standstill at this level of ownership for a one year period unless Asanko otherwise consents, and will support Asanko management nominees at shareholder meetings. The Private Placement is anticipated to be completed in the immediate future and has received conditional TSX approval.

Repayment of the Red Kite Debt
Asanko will use the JV Transaction cash to repay in full all outstanding principal and accrued interest (US$164 million) owing to RK Mine Finance Trust I (“Red Kite”) under the Definitive Senior Facilities Agreement upon closing. There are no early repayment penalties associated with the Red Kite debt. Red Kite’s current gold offtake agreement will remain in effect until all outstanding ounces have been delivered to Red Kite or the JV elects to terminate the offtake and pay the associated fee.

In the event that the JV Transaction has not completed by July 1, 2018, when the first principal repayment of the Red Kite debt is due, Gold Fields has also agreed to provide a bridge loan of up to US$20 million for Asanko, to be drawn at Asanko’s sole discretion. The bridge loan will be credited towards Gold Fields’ contribution to the Joint Venture on closing. If closing does not complete for any reason, the bridge loan will be repayable, after written demand with a 30 day notice, at any time after six months from the date of advance of the bridge loan. If Asanko does not repay the bridge loan, the bridge loan claim would effectively be used to subscribe for new common shares of Asanko, up to the point where Gold Fields would own 19.9% of the outstanding Asanko shares, and the balance would be repaid in cash. Pricing of these shares is subject to TSX policy.

Development of Esaase Proceeding
The development of the large-scale Esaase deposit will commence in 2018 and initial production is expected in Q1 2019 with an interim trucking operation of approximately 1.5 million tonnes per annum during 2019 and 2020. The pre-production capital associated with opening up Esaase is approximately US$9 million, of which US$7 million is expected to be spent in 2018. A trucking permit has been applied for and is anticipated before the end of 2018.

2018 Guidance and 5 Year Outlook
As announced on March 15, 2018, the Company released its 2018 Guidance and 5-Year Outlook, which is summarized below. This Transaction will enable the AGM to generate strong cash flows to fund its capital requirements over the next three years.

Asanko Gold Mine 100% basis 2018 2019 2020 2021 2022 2023
Ore tonnes mined 000’t 4,300-4,700 7,300 7,560 5,450 6,980 6,400
Average grade mined g/t 1.4 1.4 1.5 1.3 1.5 1.4
Tonnes processed 000’t 4,700-5,000 5,000 5,000 5,000 5,000 5,000
Mill head grade g/t 1.5 1.7 1.8 1.5 1.8 1.7

Gold Production 000’oz 200-220 255 280 220 265 245
AISC1 US$/oz 1,050-1,150 950 810 905 775 880

Total capex US$m 19.5 75.0 100.5 31.5 9.0 18.2
Notes: Based on US$1,250/oz gold and construction of the overland conveyor in 2019/20

Advisors
In connection with this transaction, BMO Capital Markets and Taurum International acted as financial advisors and McMillan LLP acted as legal counsel to Asanko. Fasken Martineau DuMoulin LLP acted as legal counsel to Gold Fields.

Notes:
1 Non-GAAP Performance MeasuresThe Company has included certain non-GAAP performance measures in this press release, including all-in sustaining costs per gold ounce (“AISC”). These non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

The Company has adopted the World Gold Council’s guidance for reporting of AISC. AISC include total cash costs, corporate overhead expenses, sustaining capital expenditure, capitalized stripping costs and reclamation cost accretion for each ounce of gold sold.

Qualified Persons
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng.) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the mining technical contents of this news release.

Management Conference Call & Webcast Details - 9am ET on Thursday, March 29, 2018

A presentation is available at: www.asanko.com.

Conference Call:
US/Canada Toll Free: (800) 909-4985
UK Toll Free: 08004960445
International: +1 (212) 231-2929

Webcast:
Please click on the link: https://cc.callinfo.com/r/144darwuupsw3&eom

Replay:
A recorded playback will be available approximately two hours after the call until April 28, 2018:
US/Canada Toll Free: 800 558 5253
UK Toll Free: 0800 692 0831
International: +1 416 626 4100
Passcode: 21886753

About Asanko Gold Inc.
Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

About Gold Fields Limited
Gold Fields Limited is a globally diversified gold producer with seven operating mines in Australia, Ghana, Peru and South Africa, and a total attributable annual gold-equivalent production of approximately 2.2 million ounces. It has attributable gold Mineral Reserves of around 49 million ounces and gold Mineral Resources of around 104 million ounces. Attributable copper Mineral Reserves total 764 million pounds and Mineral Resources 4,881 million pounds. Gold Fields has a primary listing on the Johannesburg Stock Exchange (JSE) Limited, with secondary listings on the New York Stock Exchange (NYSE) and the Swiss Exchange (SIX).

Forward-Looking and other Cautionary InformationThis release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the completion of announced agreements including the agreement with Gold Fields, estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note to US Investors Regarding Mineral Reporting Standards:
Asanko has prepared its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of US securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the “SEC”) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Asanko uses certain terms, such as, “measured mineral resources”, “indicated mineral resources”, “inferred mineral resources” and “probable mineral reserves”, that the SEC does not recognize (these terms may be used in this press release and are included in the public filings of Asanko which have been filed with securities commissions or similar authorities in Canada).

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc

https://www.otcmarkets.com/stock/AKG/news/story?e&id=1041168

Asanko Gold Reports Q4 and Full Year 2017 Results, Provides 2018 Guidance and a 5-Year Outlook

VANCOUVER, British Columbia, March 15, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) reports its fourth quarter (“Q4”) and full year (“FY”) 2017 operating and financial results, as well as 2018 guidance and updated outlook. The Company released its production and revenue results for Q4 2017 on January 18, 2018. All amounts are in US dollars unless otherwise stated. Management will host a conference call and webcast today at 9am Eastern Time, further details below.

FY 2017 Highlights:

Financial

Gold sales of 206,079 ounces at an average realized gold price of $1,243 per ounce generating gold revenue of $256.2 million
Cash provided by operating activities of $123.2 million, an increase of 124% compared to FY 2016
Net income attributable to common shareholders of $6.1 million ($0.03 per common share), a $19.3 million increase relative to FY 2016
Cash and immediately convertible working capital of $54.6 million as at December 31, 2017
Operating

Gold production of 205,047 ounces, within 2017 amended guidance range
AISC3 of $1,007/oz versus guidance of $920 – 960/oz, primarily due to higher capitalized pre-stripping costs at Nkran
Introduction in Q4 2017 of optimized mine plan associated with P5M - includes larger Cut 2 pushback at Nkran to provide higher ore yields during the next capital growth phase of the AGM, expected to commence in 2019
Mining flexibility increased with addition of Akwasiso and Dynamite Hill brought into production
Successfully completed process plant volumetric upgrades, now achieving rates at or above 5Mtpa on a consistent basis
Acquisition of highly prospective Miradani concession area, adjacent to the AGM
Corporate

Expansion DFS confirmed economic viability of two growth projects, P5M and P10M
Indicative term sheet signed with Red Kite, subject to fees, terms and conditions, to defer first principal repayment by up to three years to enable construction of conveyor in 2019 – definitive agreements expected to be signed in early Q2 2018
2018 Guidance

Targeting 200,000 – 220,000 ounces of gold at AISC3 of $1,050 – 1,150/oz, weighted in favour of H2 2018 when ore yields from Nkran resume steady state production levels• H1 2018: 90,000 – 100,000 ounces at AISC3 of $1,200 – 1,300/oz • H2 2018: 110,000 – 120,000 ounces at AISC3 of $950 – 1,050/oz
5-Year Outlook (2019 – 2023)

Optimized mine plan, using current mine operating data, has improved the multi-pit schedule and reduced the overall strip ratio to deliver competitive AISC3 over a life of mine of 19 years
Average annual production over outlook period (2019 – 2023) of 253,000 ounces at AISC3 of $860/oz, an increase in ounces and improvement in AISC3 versus previous P5M unoptimized plan of 243,000 ounces at AISC3 of $1,007/oz
Optimized plan generates improved cashflows to provide Asanko with sufficient liquidity during the period of capital spend on Esaase, the installation of the overland conveyor and subsequent debt repayment
Commenting on the Company’s performance, Peter Breese, President and CEO, said, “2017 was a challenging year and we learned some important lessons from the operational issues we faced. The introduction of the new resource models at Nkran and Akwasiso together with a number of new mining and processing systems during H2 2017 are producing the desired results. I believe we now have the foundations in place going forward to deliver quarter-on-quarter against our plan.

Looking ahead to 2018, this will be a year of investment to give us future mining flexibility as we accelerate the larger pushback of the Nkran pit during a period in which we have low capital expenditure, in order to ensure higher ore yields, lower costs, and consequently solid cash generation during our next growth phase. 2018 will have relatively high all-in sustaining costs, especially in the first half of the year. However, we expect to start reaping the benefits of the larger Nkran Cut 2 pushback in the second half of 2018 and into 2019 and beyond.

The optimized mine plan, associated with the execution of P5M, successfully delivers a robust average production profile of 253,000oz/yr at competitive AISC3 of $860/oz over the five-year period from 2019 to 2023. This increase in ounces and lowering of costs, over our previous forecast, will generate substantial cash flow during our project build and debt servicing periods. At current gold prices, it provides a robust AISC margin of approximately $450/oz and positions us at the mid point of the second quartile on the industry cost curve.

On the corporate side, in anticipation of developing Esaase and constructing the overland conveyor, which we plan to commence in 2019, we have signed an indicative term sheet and are finalizing definitive agreements with Red Kite to extend the first principal repayment, subject to certain fees, terms and conditions, by up to three years beyond July 1, 2019. We anticipate execution of these agreements in Q2 2018.”

This news release should be read in conjunction with Asanko’s Management Discussion and Analysis and the Consolidated Annual Financial Statements for the year ended December 31, 2017, which are available at www.asanko.com and filed on SEDAR.

Key Operating and Financial Highlights
Asanko Gold Mine

Q4 2017 Q3 2017 Q2 2017 Q1 2017
Waste Mined (‘000t) 10,692 7,339 6,457 5,620
Ore Mined (‘000t) 802 1,181 1,049 1,017
Strip Ratio (W:O) 13.3:1 6.2:1 6.2:1 5.5:1
Mining Cost ($/t mined) 2.82 3.35 3.22 3.89
Ore Treated (‘000t) 1,087 862 887 908
Gold Feed Grade (g/t) 1.5 1.9 1.7 2.1
Gold Recovery (%) 94 94 94 95
Processing Cost ($/t treated) 12.91 12.94 12.80 13.36
Gold Production (oz) 51,550 49,293 46,017 58,187

Gold Sales (oz) 49,561 50,241 48,461 57,812
Average Realised Gold Price ($/oz) 1,264 1,265 1,238 1,199
Operating Cash Costs2 ($/oz) 586 485 572 578
Total Cash Costs2 ($/oz) 649 549 634 638
All-in Sustaining Costs3 ($/oz) 1,171 975 930 956
All-in Sustaining Margin ($/oz) 1 93 290 308 243

Gross Gold Revenue ($m) 62.8 63.7 60.2 69.5
Production Costs, including Royalties ($m) 32.5 28.0 31.3 37.7
Income from Mine Operations ($m) 15.1 17.9 14.5 15.1
Net income (loss) attributable to common shareholders ($m) (7.1 ) 4.7 0.7 7.8
Net income (loss) per share attributable to common shareholders (0.03 ) $0.02 $0.00 $0.04

Cash provided by operating activities ($m) 34.4 40.7 33.7 14.4
Cash provided by operating activities before working capital ($m) 26.2 31.7 26.7 28.8
Cash provided by operating activities per common share1 $0.17 $0.21 $0.17 $0.07

Q4 2017 Operating Results

Industry-leading safety record maintained, with a rolling 12-month lost time injury frequency rate per million man hours worked of 0.17 and no lost time injuries reported during the quarter.
Gold production of 51,550 ounces, an increase of 5% over Q3 2017, as the Company focused on operational delivery and completed the volumetric upgrades to the process plant to 5Mtpa which contributed to higher process plant throughputs.
In Q4 2017 we implemented the optimized mine plan associated with P5M with the commencement of the larger Cut 2 pushback at Nkran. This program is progressing ahead of schedule with steady-state levels of ore yield from Nkran expected in Q2 2018.
Part of the optimized mine plan also includes geotechnical design changes in the oxide zones at Nkran to further flatten the slope angles from 34 degrees to 26 degrees. This design change requires an additional 4 million tonnes (“Mt”) of waste to be mined, of which 2Mt was mined in Q4 2017, with the balance being mined in 2018.
Ore mining rates averaged 267,333 tonnes per month (“tpm”) at an average mining grade of 1.5 g/t and a strip ratio of 13.3:1. Ore tonnes and average grade mined were lower compared to the previous quarter due to the larger Cut 2 pushback at Nkran which, combined with the establishment of the Dynamite Hill pit, resulted in the overall strip ratio increasing significantly for the quarter.
At Nkran, mining operations extracted ore from multiple zones of mineralization with an average mining grade of 1.7g/t during the quarter. The grade control versus resource model reconciliation continues with the positive trend and was within 2% for the second half of 2017, validating the Nkran Mineral Resource and Reserve Estimates.
At Akwasiso mining operations delivered approximately 42,300tpm of ore at a grade of 1.1g/t.
At Dynamite Hill, the second satellite pit to be brought into production, mining operations commenced during the quarter as planned. Ramp up to full mining rates of approximately 70,000tpm are expected in Q1 2018.
During the quarter, Nkran Extension, a third although very small satellite deposit, was brought into production to supplement oxide feed to the upgraded processing plant.
The Company completed the volumetric upgrades to the processing plant under budget and ahead of schedule, these upgrades achieved name plate capacity in December 2017 and the plant has been operating at or above an annualized rate of 5Mtpa since.
During the quarter, the plant processed a record 1.1Mt, in spite of a lower proportion of oxide tonnes being fed to the mill than designed, with a feed grade of 1.5 g/t.
Gold recovery continued to exceed design levels at 94%, despite the elevated mill throughput rates highlighting the capability of the recovery circuit to maintain efficiency at higher throughput levels.
Q4 2017 Financial Performance

Net loss attributable to common shareholders of $7.1 million compared to net income attributable to common shareholders of $4.7 million in Q3 2017. The net loss during Q4 2017 was primarily attributable to higher deferred income tax expense ($10.1 million increase) and higher cost of sales ($1.9 million increase) and exploration expenditures ($1.4 million increase) partially offset by an unrealized foreign exchange gain of $1.1 million. Net income before taxes for Q4 2017 was $7.1 million.
Mining and processing costs averaged $2.82 per tonne mined (Q3 2017 - $3.35/t) and $12.91 per tonne milled (Q3 2017 - $12.94/t), respectively, during Q4 2017. Mining costs per tonne were lower than Q3 2017 as a result of a higher oxide material mix as well as higher tonnes mined associated with the progression of Cut 2, which had the impact of decreasing fixed mining costs on a per unit basis.
The Company incurred operating cash costs per ounce2, total cash costs per ounce2 and AISC3 of $586, $649 and $1,171, respectively, in Q4 2017. AISC3 for the quarter was impacted by higher stripping costs associated with the development of Cut 2 at Nkran.
Gold sales of 49,561 ounces at an average realized gold price of $1,264 per ounce generating gold revenue of $62.8 million.
Total cost of sales (including depreciation and depletion) was $44.5 million.
Cash provided by operating activities was $34.4 million or $0.17 per share1. Cash provided by operating activities before changes in working capital was $26.2 million.
Q4 2017 Liquidity and Capital Resources

As at December 31, 2017, the Company had cash of $49.3 million on hand, along with unrefined gold dore at a cost of $4.1 million (and a market value of $5.7 million as at December 31, 2017) and $1.2 million in receivables from gold sales.
In February 2018, the Company agreed to a new term sheet with its long-term debt provider RK Mine Finance Trust I (“Red Kite”), whereby the Company would be able to defer the repayment of principal associated with the long-term debt by up to three years (repayment commencing on July 1, 2021) subject to certain fees, terms and conditions.
Management expects to complete the definitive documentation with Red Kite and announce the terms of the restructured debt facility in early Q2 2018.
2018 Guidance

In 2018, the AGM is targeting 200,000 – 220,000 ounces of gold at AISC3 of $1,050 – $1,150/oz. During the year, ore will be sourced from Nkran, Akwasiso, Dynamite Hill, Nkran Extension and surface stockpiles.

The implementation of the larger optimized Nkran Cut 2 pushback will continue throughout 2018. The design change to the Nkran pit, as part of the P5M optimization, delivers a significantly reduced strip ratio, increased ore yields and higher grades to the process facility over the period of capital spend on the construction of the overland conveyor and opening up Esaase as well as the subsequent debt principal repayment timeframe.

Production will be lower and AISC3 is expected to be higher in H1 2018 due to the larger volume of waste stripping at the Nkran Cut 2 pushback, consequently lower ore yields will result in lower blended ore grades being delivered to the process facility. Approximately $370/oz of AISC3 for H1 2018 will be stripping costs.

Steady state levels of higher grade ore production from Nkran will resume in H2 2018 and the waste stripping portion of the Cut 2 pushback will reduce, with stripping costs decreasing to approximately $280/oz of AISC3 for H2 2018. The overall feed grade improvement and increase in gold production will also contribute to a lowering of AISC3.

Growth capital for the year is expected to be approximately $8.5 million, $3.0 million for the recovery upgrades to the plant, which will be done in Q1 2018, $1.5 million for the upgraded mill motors, to be installed in Q2 2018, and $4.0 million for the secondary crusher, which is expected to be fully commissioned in Q3 2018. Sustaining capital expenditure for 2018 is expected to be approximately $4.0 million.


2018 Guidance H1 2018 H2 2018 FY 2018
Gold Production (oz) 90,000 – 100,000 110,000 – 120,000 200,000 – 220,000
AISC3 ($/oz) 1,200 – 1,300 950 – 1,050 1,050 – 1,150
Notes: Based on $1,250/oz gold price

5-Year Outlook (2019 – 2023)

The optimized mine planning exercise associated with P5M has successfully reduced the overall strip ratio and improved AISC3 over a 19-year life of mine. Over the next five years, during the period of high capital expenditure and debt repayment, average annual production is expected to be 253,000 ounces at AISC3 of $860/oz, an increase in gold production and an improvement in AISC3 of $147/oz versus the previous P5M forecast of 243,000 ounces at AISC3 of $1,007/oz.

This has been achieved using current mine operating data and optimizing the multi-pit schedule to generate the best cash generation profile to deliver a competitive AISC3 over the life of mine and specifically during the periods of capital spend on the overland conveyor, opening up the Esaase deposit and the debt principal repayment.


5-Year Outlook 2019 2020 2021 2022 2023
Gold Production (oz) 255,000 280,000 220,000 265,000 245,000
AISC3 ($/oz) 950 810 905 775 880
Notes: Based on US$1,250/oz gold and construction of the overland conveyor in 2019

Notes:
1 Non-GAAP Performance Measures

The Company has included certain non-GAAP performance measures in this press release, including working capital, operating cash costs, total cash costs, all-in sustaining costs per ounce of gold produced, all-in sustaining margin and operating cash flow per common share. These non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

2 Operating Cash Costs per ounce and Total Cash Costs per ounce

Operating cash costs are reflective of the cost of production, adjusted for share-based payments and by-product revenue for each ounce of gold sold. Total cash costs include production royalties of 5%.

3 All-in Sustaining Costs Per Gold Ounce
The Company has adopted the reporting of “all-in sustaining costs per gold ounce” (“AISC”) as per the World Gold Council’s guidance. AISC include total cash costs, corporate overhead expenses, sustaining capital expenditure, capitalized stripping costs and reclamation cost accretion for each ounce of gold sold.


Q4 and FY 2017 Operating and Financial Results Conference Call & Webcast Details

Management will host a conference call and webcast at 9am ET on Thursday, March 15, 2018:

Conference Call:
US/Canada Toll Free: (800) 954 0621
UK Toll Free: 0800 496 1447
International: +1 (212) 231 2938

Webcast:
Please click on the link: https://cc.callinfo.com/r/1cb9r3i9b3y77&eom

Replay:
A recorded playback will be available approximately two hours after the call until April 15, 2018:
US/Canada Toll Free: 800 558 5253
International: +1 416 626 4100
Passcode: 21885541


Qualified Persons
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng.) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

About Asanko Gold Inc.
Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa.

Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Forward-Looking and other Cautionary Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note to US Investors Regarding Mineral Reporting Standards:
Asanko has prepared its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of US securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the “SEC”) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Asanko uses certain terms, such as, “measured mineral resources”, “indicated mineral resources”, “inferred mineral resources” and “probable mineral reserves”, that the SEC does not recognize (these terms may be used in this press release and are included in the public filings of Asanko which have been filed with securities commissions or similar authorities in Canada).

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc

Asanko Gold Q4 & FY 2017 Results Conference Call Details

VANCOUVER, British Columbia, March 08, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) will be announcing its Q4 and Full Year 2017 operating and financial results on March 15, 2018 at 7am ET.

Management will host a conference call and webcast at 9am ET on Thursday, March 15, 2018.

Conference Call:
US/Canada Toll Free: (800) 954 0621
UK Toll Free: 0800 496 1447
International: +1 (212) 231 2938

Webcast:
Please click on the link: https://cc.callinfo.com/r/1cb9r3i9b3y77&eom

Replay:
A recorded playback will be available approximately two hours after the call until April 15, 2018:
US/Canada Toll Free: 800 558 5253
International: +1 416 626 4100
Passcode: 21885541

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

About Asanko Gold Inc.
Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company’s flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa.

Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


Source: Asanko Gold Inc