Company Name: Galane Gold Ltd.

Galane Gold Ltd. (TSXV: GG / OTCQB: GGGOF)-Ramping up Production with Easing Restrictions

With easing restrictions in both South Africa and Botswana, GG’s Q3 production increased 36% QoQ at Mupane (Botswana), and 50% at Galaxy (South Africa), and beat our expectations. We are raising our 2020 production forecast from 30.5 Koz to 32.5 Koz. Operating cost increased 5% YoY, and 2% QoQ, to $1,082/oz in Q3, and was higher than our expectations. However, gross profit increased 82% YoY, and 21% QoQ, to $790/oz, due to stronger gold prices.

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