Galane Gold Ltd. Releases Financial and Operating Results for 2020 - Seite 2

This has given us a stable platform to take into 2021 from which we can leverage our goals of continuing to grow our operations both organically and through acquisitions.⁽²⁾ As an executive management team, we are focused on the expansion of Galaxy to reach the Phase 2 target annual production of 43,000 ounces per annum at an all-in cost of $747 per ounce, the addition of resources at Mupane to continue to extend life and the closing of the acquisition of the Summit Mine and the Banner Mill in New Mexico, following which we plan to bring the mine out of care and maintenance and back into production.⁽²⁾ We relish the challenge and are looking forward to what we believe will be a transformative two years for Galane.⁽²⁾”

About Galane Gold

Galane Gold is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana and South Africa. Galane Gold is a public company and its shares are quoted on the TSX Venture Exchange under the symbol “GG” and the OTCQB under the symbol “GGGOF”. Galane Gold’s management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programmes. Galane Gold is committed to operating at world-class standards and is focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates.

Notes:

(1) Total operating cash cost is a non-GAAP measure. Refer to “Supplemental Information to Management’s Discussion and Analysis” in the Company’s Management’s Discussion and Analysis for the year ended December 31, 2020, for reconciliation to measures reported in the Company’s financial statements.
(2) This is forward-looking information and is based on a number of assumptions. See “Cautionary Notes”.
(3) Information based on the PEA entitled “NI 43-101 Technical Report on the Galaxy Gold Mine, South Africa” issued on July 3, 2020, with an effective date of June 29, 2020, prepared by Minxcon (Pty) Ltd and approved by Mr. Uwe Engelmann, BSc (Zoo. & Bot.), BSc Hons (Geol.) Pr.Sci.Nat., MGSSA, and Mr. Daniel (Daan) van Heerden, B Eng (Min.), MCom (Bus. Admin.), MMC, Pr.Eng., FSAIMM, AMMSA, both “qualified persons” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), and independent of the Company for the purposes of NI 43-101. The PEA is available under the Company’s profile on www.sedar.com.