SUN VALLEY GOLD LLC: DISPOSITION OF COMMON SHARES OF GALIANO GOLD INC.

SUN VALLEY, Idaho, July 26, 2023 /CNW/ - Sun Valley Gold LLC ("Sun Valley") announced today that it has disposed of an aggregate of 500,000 common shares ("Common Shares") of Galiano Gold Inc. ("Galiano Gold") on behalf of client accounts over which Sun Valley has discretionary trading authority for and on behalf of client accounts over which it has discretionary trading authority. The Common Shares were sold over the facilities of the Toronto Stock Exchange for $0.84 per share.

Following the disposition, Sun Valley exercises control and direction over an aggregate of 22,164,193 Common Shares for and on behalf of client accounts. The Common Shares over which Sun Valley exercises control and direction for and on behalf of client accounts represent approximately 9.85% of the issued and outstanding Common Shares. Because Sun Valley now exercises control and direction over less than 10% of the issued and outstanding Common Shares, it is no longer subject to ongoing early warning or insider reporting requirements in respect of its ownership of Common Shares.

Sun Valley sold the Common Shares as part of its overall portfolio investment strategy. Sun Valley Fund may increase or decrease its ownership of securities of Galiano Gold depending upon future market conditions.

FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW:

SOURCE Sun Valley Gold LLC

Linda J. Kish, Chief Legal Officer, Sun Valley Gold LLC, Tel: [phone], Fax: [phone]