Galileo Resourc Regulatory News (GLR)

For immediate release

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

28 May 2020

Galileo Resources Plc

("Galileo" or "the Company")

Exercise of Warrants

Galileo Resources plc ("Galileo "or the "Company") confirms that it has issued a total of 11,820,000 fully paid ordinary shares in the Company (the "New Ordinary Shares") pursuant to the exercise of warrants in terms of the Placing Agreement dated 17 October 2019 (RNS announced 18 October 2019). Application will be made for admission of the New Ordinary Shares to trading on AIM ("Admission"), with Admission expected to occur on around 4 June 2020. Following the issue of the New Ordinary Shares, which rank pari passu to the existing ordinary shares in the Company, the Company has 653,576,193 ordinary shares in issue, all of which have voting rights. Shareholders in the Company may use this figure as the denominator for the calculation, by which they would determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

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