Galiano Gold Inc.

Good morning, ladies and gentlemen, and welcome to the Galliano Gold Full Year 2025 Results Release Conference Call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Friday, February 13, 2026. I would now like to turn the conference over to Matt Badalak, President and CEO. of Galliano Gold. Please go ahead.

Thank you operator and good morning everyone. We appreciate you taking time to join us on the call today to review Galliano Gold for the quarter 2025 results that we released yesterday after market closed. We will be making forward-looking statements and referring to non-IFRS measures during the call. Please refer to the cautionary notes and risk disclosures in our most recent MD&A as well as this slide of the webcast presentation. Yesterday's release details our fourth quarter 2025 financial operating results. They should be read in conjunction with our fourth quarter financial statements and MD&A available on our website and filed on CWBUS and EDGAR. Please also bear in mind that all dollar amounts mentioned on the conference With me on the call today, I have Michael Cardinals, our Chief Operating Officer, Matt Freeman, our Chief Financial Officer, and Chris Pepman, our Vice President of Exploration. For this presentation, I'll initially provide a brief overview of the quarter. and then Chris will review the recent exploration success his team has had at the AGM. I'll then provide some closing remarks and open the call for Q&A. Here on slide five, we can see the team continue to build momentum during the fourth quarter towards an improved operational outlook in 2026. Let me walk you through some highlights on this slide. Safety remains our top priority, and I'm proud to report that, again, commitment to our workforce. Turning to production, we produced 37,500 ounces of gold in Q4, up 15% from the 32,000 ounces produced in Q3. As you can see from the chart, this marks the fourth consecutive quarter of improved gold production at the AGM, with Q4 production 80% higher than Q1, and four-year production totaling 121,000 ounces, in line with our advice production guidance. Importantly, mill feed grades improved quarter on quarter and throughput in December exceeded the targeted 5.8 million tonne per annum run rate. From a financial perspective, cost control remains robust on site with all its sustained cash costs reducing quarter on quarter to $2,033 per annum and ending the year in line with the guidance range. Revenue came in at a record $160 million, up 40% quarter over quarter from $114 million. This was driven by higher production and improved global prices. Our balance sheet remained solid with cash balance remaining stable despite increasing our rate of spend on stripping at NCRAN and making a $25 million of NERD payment to Goldfields. During the quarter, we also established providing us with further financial flexibility to continue to invest in our operations, particularly as we advise stripping at NCRAN and invest heavily in exploration activities in 2026. The inclusion of a maiden underground mineral resource reshapes the future potential of resource growth at the asset. We have planned an aggressive exploration program for 2026, targeting the expansion of these underground resources and reserve growth at Asasi through conversion drilling of inferred ounces. The momentum we have built throughout the year positions us strongly to meet our production guidance target of between 140,000 to 160,000 ounces this year, which is a 25% increase from 2025 levels. Mick will provide more colour on this later. And with that, I'll hand it back over... I'll hand it over to Mick to discuss operations in more detail. Thank you, Matt, and good morning, everyone.

Starting with safety, the previous quarter's improvement continued without any lost time or recordable injuries in Q4. We finished the year with a lost time injury frequency rate of 0.24 and a total recordable injury frequency rate of 0.48, both per million hours worked. In terms of mining production, Nisazi Mining Research NCRAN pre-stripping continued ahead of plan with 23% more material moved compared with Q3, including some small quantities of oxide ore which are being identified during the mining process and opportunistically blended with a more fresh ore to supplement the plant feed. An additional excavator fleet is expected to be operational before the end of Q1 2026 to continue the expansion of Cut 3. We plan to mine in excess of 30 million tonnes this year, which is three times the movement of 2025 for an approximate spend of between $100 and $120 million of development capital. This maintains NCRAN Cup 3 is scheduled to deliver city-state ore production from early 2029. On slide 8, we can see the processing performance. Ongoing modifications in the circuit to fully optimise the performance after the commissioning of the secondary crusher continued in Q4 and yielded further positive results. Milling rates increased approximately 7% compared to Q3, with December production achieving an annualised rate at the target 5.8 million tonnes per annum. The increased grade throughput and recovery all culminated in an increase in gold production for Q4 of 15% versus Q3's production of 32,500 ounces to 37,500 ounces. We finished the year producing just over 121,000 ounces, which was in line with the revised forecast. Overall, you can see about metrics. On the slide down, we are providing information on the guidance. Looking forward to 2026, of our resource. Grades will continue to increase with depth at Abore as was seen in the last quarter of 2025. Production will be somewhat weighted towards the latter half of the year and continue into 2027 as we recover the higher grade material at depth. We expect On the way, I'll hand over to Matt Freeman to discuss Q4 financial results.