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Non-GAAP Information

In addition to disclosing results determined in accordance with GAAP, Galiano may also disclose certain non-GAAP and pro forma non-GAAP results of operations, including certain ratios, operational and miscellaneous data, as well as net income, diluted earnings per share, operating expenses, and operating income that make certain adjustments or exclude certain charges and gains that are outlined in the schedules included in this website. Management believes that this non-GAAP and pro forma non-GAAP information provides investors with additional information to assess Galiano’s operating performance by making certain adjustments or excluding costs or gains and assists investors in comparing our operating performance to prior periods. Management uses this non-GAAP and pro forma non-GAAP information, along with GAAP information, in evaluating its historical operating performance. Galiano and Virtua also take no responsibility for third party pricing data provided for informational purposes and certain ratio results formulated from the provided third party pricing data.

The non-GAAP information is not prepared in accordance with GAAP and may not be comparable to non-GAAP information used by other companies. The non-GAAP information should not be viewed as a substitute for, or superior to, other data prepared in accordance with GAAP.

Board of Directors

Paul N. Wright, Chairman

Mr. Wright has over 40 years of international experience in the development of open and underground mines. Mr. Wright served as Chief Executive Officer of Eldorado Gold Corporation from October 1999 to April 2017. He joined Eldorado Gold in 1996 as Vice President, Mining and subsequently as Senior Vice President Operations in October 1997. Mr. Wright led the company through a period of intense activity through which was created a leading international gold company. Exploration discovery and acquisitions enabled Eldorado to successfully develop and operate mines on three continents creating a well valued and respected company. He is currently a Director of Centerra Gold. Mr. Wright is a graduate of the University of Newcastle Upon Tyne. He is a member of the Canadian Institute of Mining and Metallurgy, The Institute of Materials, Minerals and Mining, and is a Chartered Engineer (UK).

Greg McCunn, Director and CEO

Greg McCunn has over 25 years’ experience in the mining industry. On April 1, 2019 he was appointed Director and CEO of Asanko. Most recently he was CEO of Alio Gold, a junior gold mining company with operations in Mexico and Nevada. Prior to joining Alio Gold, Greg was CFO at Asanko from 2011 to 2017, during which time the Company financed the construction of the Asanko Gold Mine, executed the first phase of construction, completed commissioning and achieved commercial production. Greg was also CFO for Farallon Mining until it was sold to Nyrstar in early 2011. Mr. McCunn’s background includes technical, operational and corporate development roles with Teck Resources, Placer Dome and junior mining companies in Canada and Australia. He is a Professional Engineer and holds a Bachelor of Applied Science degree in Metallurgical Engineering and a Master’s degree in Business Administration.

Member of the Sustainability Committee

Gordon J. Fretwell, Director

Mr Fretwell has been a lawyer for over 25 years, providing corporate finance and securities law advice to publicly traded companies and to private companies proposing to go public. He is a Director of Auryn Resources, Canada Rare Earth Corp., and RE Royalties Ltd. He holds a B.Comm and Bachelor of Laws degree.

Chair of the Compensation Committee

Member of the Audit Committee

Member of the Nominating & Governance Committee

Marcel de Groot, Director

Marcel de Groot is a founding partner and President of Pathway Capital Ltd, a Vancouver-based private venture capital corporation. Pathway has worked with a number of successful mining companies including Peru Copper Inc. (acquired by Chinalco), and Sandstorm Gold Ltd. Mr. de Groot graduated from the University of British Columbia with a Bachelor of Commerce degree and articled with Grant Thornton LLP where he obtained the Chartered Accountant designation. He is currently a Director of Eclipse Gold Mining.

Chair of the Audit Committee

Member of the Nominating & Governance Committee

Michael Price, Director

Mr Price has over 35 years experience in mining and mining finance. He is currently a Non-Executive Director of Eldorado Gold and Entree Resources. During his career, he has held senior positions at Barclays Capital, Societe General & NM Rothschild and Sons. Has also advised Lubel Coal, First Nickel, Riversdale Mining, Goldbelt Resources and Cluff Gold.

Chair of the Nominating & Governance Committee

Member of the Sustainability Committee

Member of the Compensation Committee

Judith Mosely, Director

Ms. Mosely has over 20 years of experience in the mining and metals banking sector. Most recently, Ms. Mosely held the position of Business Development Director for Rand Merchant Bank (“RMB”) in London with responsibility for developing the bank’s African business with international mining and metals companies. Prior to RMB she headed the mining finance team at Société Générale in London where her focus was principally on debt financing in Europe, the Middle East and Africa (“EMEA”) and Australia. She has broad experience across commodity sectors, working with juniors through to multinationals. She currently serves on the boards of Blackrock World Mining Trust plc and Eldorado Gold, and sits on the board of Women in Mining in the UK. She is a graduate in Modern Languages from Oxford University and holds a Diploma in Business Administration from the University of Warwick.

Chair of the Sustainability Committee

Member of the Audit Committee

Shawn Wallace, Director

Mr Wallace has over 20 years experience in building a number of high-quality mineral exploration, development and production stage companies. He is one of the founders of Galiano Gold and previously Chairman. Mr Wallace is currently President & CEO of Auryn Resources, a Director of Torq Resources and past Chairman and Director of Cayden Resources.

Member of the Compensation Committee