TMX Newsfile·2026-02-12 22:15Core Viewpoint - Galiano Gold Inc. has provided updated Mineral Reserve and Mineral Resource estimates for the Asanko Gold Mine, highlighting significant growth potential through the maiden underground resources at the Nkran and Abore deposits, which are expected to enhance the company's long-term value and mine life [1][3][10]. Mineral Reserve Highlights - Proven and Probable Mineral Reserves are estimated at 47.5 million tonnes at an average grade of 1.29 grams per tonne, containing approximately 1.97 million ounces of gold [2]. - Mineral Reserves were calculated based on varying gold prices, with $1,900 per ounce for Esaase, $1,700 for Nkran, Abore, Adubiaso, and Midras South, and $1,500 for Miradani North and Dynamite Hill [2]. Mineral Resource Highlights - Open Pit Mineral Resources total 77.0 million tonnes at an average grade of 1.27 g/t, containing 3.14 million ounces of gold, with Inferred Mineral Resources estimated at 20.7 million tonnes at 1.14 g/t for 0.76 million ounces [7]. - The maiden underground Mineral Resources at Nkran and Abore are significant, with 3.4 million tonnes of Indicated resources at 2.74 g/t and 6.5 million tonnes of Inferred resources at 2.52 g/t, indicating a total of 0.83 million ounces of gold [15][21]. Business Strategy and Growth Initiatives - The company aims to become a sustainable mid-tier gold producer, focusing on organic growth and mine life extension through exploration and potential acquisitions [10]. - Near-term production growth is expected from improved throughput and higher grades from the Abore deposit, with a forecasted 25% increase in production for FY 2026 compared to FY 2025 [11]. - Medium-term growth is anticipated from the Nkran deposit, with open pit Probable Mineral Reserves of 10.6 million tonnes at 1.67 g/t, expected to yield over 200,000 ounces annually once in full production [13]. Exploration and Future Plans - The company plans to add 1.0 to 1.5 million gold ounces to its combined open pit and underground Mineral Resources and Reserves over the next two to three years through continued exploration [19]. - Ongoing drilling is expected to expand underground Mineral Resources and integrate underground mining into the existing operations, with studies targeted for completion within 12 to 24 months [16][19].