Galiano Gold Inc.

Hello and welcome to the Galliano Gold first quarter results call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your questions, simply press star one again. I'll now turn the conference over to Matt Badlock, Galliano CEO. Please go ahead.

Thank you, operator, and good morning, everyone. We appreciate you taking time to join us on this call today to review Galliano Gold's first quarter 2026 results we released yesterday after market close. 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 first quarter 2026 financial and operating results. They should be read in conjunction with our first quarter financial statements and MD&A available on our website and filed on CDAR Plus and EDGAR. Also, please bear in mind that all dollar amounts mentioned in the conference call are in US dollars unless otherwise noted. 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, Exploration. For this presentation, I'll initially provide a brief overview of the quarter. Michael will discuss operations, Matt will discuss financials, and then Chris will highlight the exciting growth potential at Asasi and our ongoing exploration success at Abore. I'll then provide some closing remarks and open the call for Q&A. Turning to slide five, here we can see the team delivered another solid operational quarter in line with our expectations for the period. Let me walk you through some of the key highlights. Safety continues to be our top priority, and I am pleased to report that we recorded no lost time injuries in Q1, extending our LTI-free period to more than 12 months. This milestone reflects the team's ongoing focus and commitment to maintaining a strong safety culture across the operation. Turning to production, the Sanka Gold Mine reached an important milestone during the quarter, marking its 10th year of continuous operations. Over that period, the mine has produced more than 1.9 million ounces of gold, or just over 190,000 ounces per year on average. In Q1, we produced 34,500 ounces of gold, slightly above the midpoint of our first half forecast. Our full year production guidance remains unchanged at between 140 and 160,000 ounces. During the quarter, we executed a four-year extension to our mining contract, Rabotech, who have been actively mining at Assassi and at Abore since 2024. This strengthens an existing relationship with a highly qualified domestic service provider and highlights our commitment to local content requirements in Ghana. Our balance sheet remains strong and we ended the quarter with $115 million in cash despite increased stripping activities at NCRAN and an impact of higher royalties. Including the $75 million revolving credit facility added in Q4, total liquidity now stands at approximately $190 million, positioning the company well moving forward. Exploration activities also progressed well during the quarter, with the team advancing work streams focused on expanding mineral reserves at Assasi and growing underground mineral resources at Abore. With that, I'll now pass it over to Mick to discuss production in more detail.

Thank you, Matt, and good morning, everyone. Starting with safety, our improvement from last quarter continued into 2026. We recorded no lost time injuries and no recordable injuries, and I'm pleased to report that at the end of March, we reached 12 months lost time injury free. That milestone brought our lost time injury frequency rate down to zero, and our total recordable injury frequency rate to 0.11 per million hours worked. Turning to mining, SAASI ramped up production in Q1 as planned, and together with Abore, we increased total tons mined by 9%. Mill feed in 2026 is planned from these two pits, Abore and SAASI, and four tons mined increased water. As the year progresses, strip ratios, especially at Abore, are forecast to decrease. That gives us access to more ore and allows us to preferentially feed higher-grade material to the mill, supporting higher gold production in the second half of 2026. At NCRAN, cut-free stripping continued. Volumes mined increased modestly by to build through the year as additional equipment is mobilized to site. Now, if we move to the next slide, I'll walk you through our processing performance for the quarter. Overall, the year has started well. In Q1, we completed a substantial planned maintenance program, including relines for both mills and replacement of the primary crush equipment. As a result, tons treated were lower, but as expected. Importantly, With the circuit optimizations we've implemented, throughput is now performing in line with expectations. Grades and recovery met plan or were better during the quarter. That translated into gold production of 34,747 ounces and sales of just over 34,000 ounces. We are well positioned to achieve the upper end of our previously communicated production year and we remain on track to meet our four-year guidance so in summary both mining and processing areas are performing as expected and we're tracking well against our 2026 guidance i will now hand over to matt freeman to discuss the q1 financial results thanks michael good morning everyone as michael outlined we're pleased with the first quarter delivered in line with our plan