Appointment of Voluntary Administrators

GALENA MINING LTD. (“Galena” or the “Company”) (ASX: G1A) advises that the Board of directors of Abra Mining Pty Ltd have appointed Administrators to Abra Mining Pty Ltd.

Richard Tucker and Robert Hutson of KordaMentha have been appointed as Administrators of the Company’s 60% subsidiary, Abra Mining Pty Ltd, ACN 110 233 577 (“AMPL”) on 4 April 2024.

Abra is a joint venture company which is 60% owned by Galena and 40% owned by CBH Western Australia Pty Ltd. It owns and operates the Abra Base Metals Mine (“Abra” or the “Project”) in the Gascoyne region in Western Australia.

Further to previous Company announcements outlining ramp-up issues associated with mining rates, mined grade and recent rainfall events restricting in-bound critical supplies and out-bound concentrate haulage (with the road being closed since 6 March), the AMPL Board has met and resolved to appoint Administrators.

The Administrators have advised Galena that they plan to operate the Abra mine and processing plant on a business-as-usual basis while reviewing operating and recapitalisation options. The Administrators will work closely with AMPL employees, suppliers, secured lenders, and customers to continue operations and preserve value for all stakeholders.

Information for AMPL’s creditors will be available on KordaMentha’s website at www.kordamentha.com/creditors/abra-mining. Creditors of AMPL should direct queries to the Administrators by email to Abra-Mining@kordamentha.com.

The Company will remain in suspension pursuant to Listing Rule 17.2 for the duration of the administration process.

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